Hitesh portfolio

A lot has changed in Caplin since 2013

  1. Negative working capital cycle changed to somewhere 80 receivable days!
  2. Tapping the branded category for better sticky-ness, that did made them extend credit.
  3. Entry to China, probably chasing sales rather than OPM, I expect high competition there.
  4. Huge Capex for entry to US & if I am right, no sales yet from that investment.