I completely agree with your point. I think receivables and cash flow stress is key monitorable to be tracked.
Receivables would be high mainly because of 12-15 Cr sales in the last 3 months itself as the growth picked up…Hence, no. of days would not be more than 90-100.
At the end this is a B2B business and will have high number of receivable days (minimum would be 2 months)