My worry is the quantum of loans given as a percentage of net profits,
- FY16: Net Profit Rs.38.22 cr, Loan given Rs.12.61 cr (33% of profits)
- FY17: Net Profit Rs.73.75 cr, Loan given Rs.13.97 cr (19% of profits)
Also if the JV continues to be in losses, how will it ever repay the loan to Delta Corp.
Waiting for FY18 numbers to see if Delta Corp has again given loans to FCSPL this year.