Yes i get it. He might be in because of political contacts as Kavach orders are all govt orders. Also good that after such cases, he is already out of the company in both directorship and shareholding
Yes there has been often the write off and almost every balance sheet and its on the instance of auditor rather than self. Since no concall so no answers just that they are non recoverable. rest assumptions we have to make
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But that also raises concerns for usâwhether Kernex will continue to receive large orders if the political person backing him is no longer a director in the company. Moreover, according to managementâs guidance, they plan to complete the remaining part of the âš550 crore order received in 2022 by Q1 FY26. However, I donât believe they have completed the full order yet. This raises further doubts about whether they can execute these orders at all, as they donât seem to have enough working capital to carry out these orders properly
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Kernex order book :
In marchâ25 PPT : Total Value of order book as on: 2,124.16 Crs
- CLW: 1,730 Crs
- SER: 179.21Crs
- KMIL Exclusive: 1,735.38 Crs
- With Partners : 388.78 Crs
Total 3500cr order book on 29 Aug (assuming 30% with partners in consortium). If someone knows the exact bifurcation of revenue to Kernex vs partner, please share.
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