Considering quarterly revenue run rate of approx 800 Cr – this seems to be reasonable, also from aging table available in published document most of it is either not due or due within 180 days.
Most of it is towards Accrued salary, benefits, incentives, bonus etc..
Considering working capital requirement (High receivables, negligible payable) - debt level of Rs. 107 cr is fine - but finance cost of approx 30 Cr mentioned in P&L is beyond understanding when they declared that Cost of borrowing is around 7.50% - 8%
