Kaveri seeds company limited — kscl

I attended the Kaveri AGM and i very specifically asked the management about the status of receivables as of that day and the management confirmed that the receivables are ~50cr as they have not sold on credit and even that was mainly to government so no need to worry. I initially asked on the sidelines and then once again during the AGM proceeding- where it was in my list of written questions submitted to where the management reconfirmed low receivables. I actually asked if i would see this reflected in 30th Sep balancesheet and they confirmed affirmative. May be other members who attended AGM could confirm this.

I was shocked to see the receivables at 190cr. Given that the credit risk management was a key theme which influenced lower sales (refusal to sell on credit) - i find it quite disturbing that a few days before the quarter end senior management's estimate of receivables is so way off.