Couple of interesting developments over the weekend:
- Full repayment of the NCD’s : https://www.bseindia.com/xml-data/corpfiling/AttachHis/9d2a9fc5-e858-428c-b356-4496e5f0261a.pdf
- Promoter pledge release process initiated subsequent to above: https://www.bseindia.com/xml-data/corpfiling/AttachLive/d76e3744-a541-4fa3-8831-2f5face2d4cb.pdf
With the above, at least the overhang of high promoter pledge/ balance sheet cleanup issues will be sorted. The only missing aspect is the revenue/ebitda growth , if the company delivers, might be rerated soon. Q1 results will set the baseline for Fy25 , historically the last couple of years has been sub 70 Cr, lets see what they deliver.
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