Very good results. Sales up by 50% to 52cr from 34cr YoY and profits up 500% to 2.46cr from 54 lacs (inspite of tax expense increase to 2.7cr from 57 lacs). Yearly, revenues grew 50% to 227cr from 156cr and profits by 120% to 13.5 cr from 6 cr. Debt, has also significantly reduced this year. This should improve profitability next year too. This means that as mentioned in the rights issue, promoters have kept their promise of utilizing the raised funds to pare debt and let us also not forget that the entire rights issue was subscribed by the promoters (they definitely have some plans for the company).
As mentioned earlier, 24-25 needs to be broken on a closing basis and only then the big move will come. Also, keep in mind that the said level is a 12 yr high and therefore, it would be very difficult for waterbase to break it but as and when it does, the stock will simply multiply. A sore point, no dividend this year too.