thanks…you have captured all points nicely…one point at the end of conversation which I liked is that, in response to debt reduction query, Mr Chava said that why would he try to reduce as long as cost of capital is considerably less than the ROCE.Very pertinent point as long as the management knows where to put that money judiciously.
This should put to rest the questions about debt or pledge…as long as growth is amazing and company is able to generate cash flow and profits.
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