Good things - Debt has come down by 172cr to 130 cr, Left with approximately INR 130 crores from Axis Finance Limited at the rate of 10.75% and as per mgmt will result in significant reduction in finance costs from ensuing quarters. I am expecting 4 cr int cost and 5 cr depreciation going forward.
Another positive news from this results, All pledged shares of promoter group would also be released with immediate effect. Hence forth investors dont see threating message while buying Kamat.
Negatives- Yes dilution to an extent of 5%, glad this is limited to 5% which happen in most cases where promoters see huge value. Even if the value is there in acquired companies, that will be loss for minority share holders as we dont see any value in the next 3 yrs. By this promoters kept their holdings intact as theirs will be diluted to pref allotment. Hope they buy another 5% by yr end and allow share rerating.
We can expect good results in q3 and q4 and q1fy26 and I think those results only help the stock in rerating. For now just accumulate if it falls below 200.
Next FY probably we can expect 30 EPS considering 3.3 cr equity shares.
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