Positive:
- Debt down to 130 crores with 10.75% interest rates
- No Pledge
Negatives:
- Poor execution. Even though Q1 is lowest checkout Indian Hotels, Samhi Hotels, they’ve posted amazing results considering Q1 and elections. Comparing with them because Kamat’s major keys are in Mumbai, Pune
- Issue with clarification on NCD redemption timelines
- Capex delays
- Don’t know what was going on there but even an 8th grader can calculate 10.75% interest on 130 crores would be around 14 crores annually and 3.25 crores quarterly whereas the CFO never reached there and someone guided her there.
- CEO hiding away
Exited as soon as results were out. Will wait for execution to pickup as it is still available at cheap valuations
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