The issue is with their plant They are using 100 centuries old pant. I have personally been through their plant at HUB 3 years back. The machinery was quite rusty at that time. Its high time that they get a new machinery else these "Plant Shocks" will become a norm.
Secondly, the main market they are catering to is the Ship Breaking Yard. They already highlighted in Annual report that prices are at the lower side there owing to some Tax Benefits. Hence, Negative Margins.
All i can say is that i dont see much hope for this company for next couple of years until they bring Good Capital Investment