Management not commenting on orders post-FY26 should not be a matter of worry. They are a conservative management and do not make such long predictions about their business.
Regarding the ‘another concerning aspect’ of their working capital, ICRA has assigned the company a rating of A+ Stable for it. The company follows an asset light model of business, under which it is unavoidable to take short term loans for working capital during execution of large projects such as the BSNL 4G project. They explained it in the concall.
Disc: Invested
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