This happened when IPCA labs acquired Resonance through Makers Lab. the original promoters sold out to IPCA labs and the promoters shareholding changed. Clearly visible below.
the gross margin of resonance has been increasing from 35% in 2012 to 77% this year. overall the operation seem to be working capital heavy when compared to the likes of ingrevia (although its understandable that the size of resonance is too small).
the R&D of the company has been reducing (sad to see).
anyone has any idea on why the inventory has increased in this year, the inventory days.
will be waiting for this year’s AR
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Hi Rahil, have you gone through the AR? Anything interesting?