Stock fell as they cut guidance for FY17.
They were earlier guiding for 90 lakh cotton packets (guided in q1 call), now reduced guidance to 25% growth over FY16 which translates to about 70 lakh packets.
Guidance reduced because they expect no growth in cotton acreage next year, expect tough conditions to continue for next year also.
Disclosure- Reduced a bit after poor q1 but still holding the rest shares.
Subscribe To Our Free Newsletter |