1 good point was: for multiple future looking questions, management didn’t commit any number and kept the answer open ended. In an uncertain market, it is good to be honest that we don’t how situation may unfold.
1 not so good point I observed management saying “its industry wide phenomena”. Yes everyone is affected but it can’t be repeatedly used as a shield to justify your own performance.
Another point is, they want to do Rs. 1000 - Rs. 1500 cr additional sale in next 1 - 3 yrs, for which they will need to do capex of ~ Rs. 200 cr. Since, they don’t have much of cash balance, large part of it will be debt funded, thereby stretching there D/E further.
Disclosure: already Invested and added further in today’s market meltdown.