The 2nd question and answer you’ve mentioned – one from Ms Alisha – is from the previous concall. But the answer management has given is extremely relevant in this quarters results. The entire pretext of preserving the thin margin under all situations has been shaken. They said inventory days is 8, even if two price revisions happen each month – roughly 15 days each – how does this affect margins so severely is hard to understand.
One minor point was that during stressed periods they have to offer more discounts to their customers, which had lead to fall in margins. But this again points to weak pricing power. Overall disappointed with commentary
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