I dont see anh red flag in this report except for the fact that OCF is negative.
- Net block increased because of the expansion, what is wrong in it.
- Paybles are low and Recievables are high - nature of the business. They buy gold bullion and supply to retailers in wholesale. So this is natural to the kind of business they are in.
- Probably ocf is negative due to above
- Other jewellers e.g. Goldiam also have very low employee cost.
Everyone is trying to become a forensic auditor these days. So take it with a pinch of salt.
Disc: invested so may be biased
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