I have ‘attended’ the agm yesterday. It was at 11 AM, I reached the venue at 11:12 AM due to traffic, the meeting was already over by then !!! I could talk to CS and get some details , but I didn’t feel confident that the data being shared is accurate. I could understand they are still talking about 900 cr revenue in fy17, they are working on a big acquisition in US. Looks like they are having funding issues. CS told QIP is not on plan as lot of IPOs are sucking out liquidity. They are working with the banks to get loans.
mSahet is postponed, but looks like its cancelled. They are not able to explain the reason for only 10% ebidta margins when they are in ‘niche’ business, they kept on saying same thing we have hired some top level executives, the cost is accounted now but sales will come in later years.
Overall I got the feeling management is not willing to share details with minority share holders and the business itself has so many question marks.
Disc: I sold all the qty after the agm