I have also exited after being really hopeful for a few years. My worry is that they are sitting on huge inventory but always complain of margins being under pressure due to high cost of purchases. It doesn’t make sense. If prices of paddy go up, they should be making better margins , not lower – as the spreads on earlier inventory should increase. Something is fishy in their inventory numbers and that might be the reason they didn’t hold the concall ( other than the Saudi business not returning for good)
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