After long delays, we now have the Q4 2020 (ended March 2020) results for all our portfolio companies except one. Typically, companies have one month to report but this time SEBI extended the deadline all the way to July 31. These results capture only a few days of the lockdown period, which started on March 25 and still continues in a few concentrated pockets. The June quarter will show the full picture. Overall, the picture will be ugly, which is hardly a surprise.
Notes & Letters
A collection of our thoughts, views, and excerpts from our investor letters.