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naik is expected as one of the few risks based on 2024 annual report is the receivable; 4 major customers and 3 customers owed 75% of the trade receivables. It is only natural that receivables to go up or write-off/impaired to reset. In this case, it went higher. Not sure whether similar risk in 2023 and before as I did not read the corresponding reports.
3 customers owed 75% of the total receivables in 2024. Total receivables increased from 28 mil to 66 mil by 3QFY2025. If the customers can't pay it in 2024 and 2025, can they become a good pay master in 2026? I think the risk is valid and should be monitored closely.
tanants had paid the 2 months of security deposit when they started leasing initially, company can use the collected security deposit as rents if the tenant really can't pay off the outstanding amount accordingly
if tenant don't want to renew the contract, tenant will need to give notice period to company, company has internal and outsource teams and sufficient time to look for new similar tenants.
these all are information from the briefing on YouTube
Receivables - (1) can easily turn into bad debt and easily impaired by the company. (2) have a look at the balance sheet from q3fy25 report and you can estimate how much deposits they are holding vs how much owed by the customers. Deposit is probably around 12mil vs 66 mil receivables.
Chart is your best insider talk so much is good for discussion but ultimately the question is can we make money from it? Its downtrend even my 2 years old son can tell haha
Receivables can be collected, or will be bad debt. Company already give 3 months notice to the 2 tenants, or will burnt the 2 month deposit. Haven't buy house for rental purpose yet? Go to buy some houses, then try to rent, then you will know the process... That's all.. Why keep talking easy thing...
Not sure whether Genetec showing high capitalisation rate and high receivables risks similar to Ptrans. And wb expiring in Aug. Makes sense for Mr. Market to price in these risks. Chillax first.