There was no misallocation of NPAs. I am an investor from pre demerger and I did not find it unethical. Only people who played smart in picking up shorting or selling PEL and buying PPL were worried that they did not know about Loans. Promoters are ethical in my view they always inject money when business needs them.
They may make not so wise decisions but have no issues with management. They are building business slowly . The point to watch was the competition in the hospital injectible business. Gv goods prices have again hiked in Europe. The positive side they have nearshore ADCs, building consumer brands and have a emphasized textgood quality track record.
I added PPL at 80s and subscribed right issue. My understanding of business is not great but ADCs is the next good opportunity. At the low price, you don’t have to get into so much science. The more price you pay you need to be very sure of business and the performance of the future.
Disc: I am biased as Invested in PEL and PPL you can find my portfolio here