Credit rating – reaffirmed and withdrawn by CARE
Given renewed push in infra, I am expecting the company to get more orders and have operational leverage. But, it is going to be a long journey as they have huge working capital requirement and low profit margins. Scaling is not going to be easy unless their bottom line improves. CFO has improved over last 3 years offering a glimmer of hope.
It is to be seen how they are using the cash infusion through FPO.
Disc: Invested a tracking position
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