@django
Q3 numbers were somewhat disappointing, though not totally unexpected with the current slowdown in the developed world. The good news is that the expansion relating to capacity increase is complete as mentioned in the update given by the Co., attached below. Any pickup in demand, either domestic or exports, will see an immediate surge in the numbers. Earlier, the plant was working three shifts & the Co. was not in a position to even increase supplies. Just one or two large orders from the US, & things will be back on track once again.
As mentioned in the post above, employee cost is the only area that is seeing growth & traction! The mgt. should have been more sensitive to the minority shareholders & any increase in Director remuneration should only be taken after the expected growth has kicked in & not in anticipation of future growth. The Pix mgt. is smart enough to know that how they treat the minority shareholders will determine how the markets treat the Co. in terms of its market cap!
I guess all will be forgiven & forgotten if the Co. can do 600 -650 crs in sales in 23-24.