They are not scientists, The MD graduated in engineering, which millions of other Indians did too. Also, this company primarily makes ‘metallic components’ and the Moat is there approval status from ISRO and Nuclear agencies. For Fuel Cells, having only 1 customer is a big risk. So I feel that their risk mitigation strategy (on which they wrote pages in their report) is either flawed, incomplete or they don’t care. How can they cannot foresee delays and deferred orders especially when they knew the customer so well. And lets assume that they didn’t foresee, then by no means, they can miss the revenue guidance by 40%. They behaved as if they are a startup who are learning to do business.
I hate to see that promoters are in rush to increase their salaries when they failed to perform. A good management would decrease their payroll under such circumstances and walk the talk. I sense more shit coming their way in the coming quarters despite the optimistic commentary from the management. Its evident that their words and actions don’t match for the time being.
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