Every stock has a story. Praveg’s story is seductive — cheap valuation, promoter buying, turnaround narrative.

But we don’t trust stories. We trust numbers and this is what numbers told us..

**🚩 01 — Revenue Recognition (MEDIUM-HIGH)**
Early revenue recognition practices + significant divergence from industry peers. The top-line may be inflated.

**🚩 02 — Depreciation Policy (HIGH)**
Depreciation policy changed during the year, resulting in net higher income to company

**🚩 03 — Auditor Fee Escalation (HIGH)**
Fee trajectory went from MODERATE to HIGH/CRITICAL between FY24-25. Auditor rotation risk + fee opacity = classic warning sign.

**🚩 04 — Related-Party Transactions (HIGH)**
Opacity in RPT disclosures. Potential tunneling, non-arm’s-length asset transfers, or undisclosed promoter benefits.

**🚩 05 — Segment Reporting (HIGH)**
Gaps in segment-level profitability disclosure. You can’t see which business units actually make money.