Surely a concern for KPI Green, but Company has got robust outlook with strong orderbooks and never let down on execution + substantial reduction on borrowings + FA/CWIP additions reassures the growth ahead.

They should focus more on the WC management and better cash conversion cycle to build a healthy BS sooner, the better.

Eventually, they will release the pledge, I believe. Not seeing any spiral impact of this with KPGEL, they operate on a completely different model and have its own moat .. though orders can be routed through group entities 

I am holding KPGEL only.