One Key trigger going forward can be the relief received by the company regarding the potential liability as a result of the fraudulent transaction entered by Ramakant Pilani (who is not regularly involved in the business anyways).
Interestingly, Ramaknat Pilani’s son has also resigned from the board, so the business will be led by Rishi Pilani & co. (who were as it is responsible for the turnover & doing all the talk with the investor community).
It is very difficult to understand the holding structure as majority shares are held by their group co., However, there can be a possible supply overhang if Ramakant Pilani & co. decide to exit their holding completely.
Operationally, Q4 results were pretty decent on the LST segment considering their capacity is already operating at full utilization & growth will start flowing only after the commercialization of the LPG terminal.
Concall on June 5th will be really interesting!
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