Low profit margins are not the issue here. Its more about the nearly 13% more profit (even more when buying economies of scale etc are considered) , that the minority shareholders didn’t potentially earn.
The company’s trade receivables would be a better indicator of DCX’s payment timeliness – which appears to quite good in FY23. It also seems to be a trading co since it has just INR 55 lacs in fixed assets – so im not sure if it is adding any value here.
Unless an independent supplier offers worse terms or price, I would be sceptical.
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