its transmission of shares from NRI to promotor.
Bad result by premco. RM cost increased due to crude and they couldn’t pass it on as due to supply to OEM their is usually lag of few months to pass on.
Also employe cost increased due to more sales & mkting guy employed
Good example of management not walking the talk. Crude is still much low compared to historic levels. Last AGM they talked about successfully negotiating price contracts only to end up in deep red.