Can you elaborate? Their working capital has stayed at 35% of sales for a long period of time.
Also, their CFO/EBITDA and CFO/PAT are better than industry averages.
Thats true, Euro has completely recovered vs USD.
More importantly, end product prices have not corrected much and technical prices have corrected by 40-50% for major molecules (see examples below). This should be materially positive for Sharda
Disclosure: Invested (position size here, no transactions in last-30 days)