My 2 cents on Sula
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If one go back a bit, two of their CXOs (including cgi) left within 6-8 months of IPO – red flag.
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hiding more than revealing, e.g. in none of the mgmt interviews that followed Q1FY25 results, their was any indication of sub-par q2 performance.
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Business is solid but leadership seems to be missing ‘fire in their belly’ – I have not seen any serious attempts by the mgmt in last 2 years to expand their footprints, they continue to be Maharashtra/ Karnataka player.
Disc: exited my positions recently.
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