MMYT - Ebix Is A Strong Buy Here After Auditor RSM's Exit

• Ebix, in the last three years, has faced a number of challenges, many of them I would categorize as missteps by management.
• The dramatic resignation of their auditor (RSM) was the latest (self-inflicted) crisis. Their departure strongly implied impropriety, and a 40% collapse in market value added more salt to shareholder wounds.
• Yet a close examination of RSM’s rationale revealed the crisis might have been easily avoided. Also, the issues raised strongly suggest Ebix's incompetence rather than something graver, as RSM implied.
• If Ebix’s 2020 results remain largely intact, the current share price is a strong buy. Read why.
• But hurry up, the clearance sale is likely to end by April 20th, the proposed date for audited 2020 results by the newly appointed auditor.

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