High working capital requirement haunts balance sheet Total 80m of sales proceeds received from sale of the education business has been deployed towards bank guarantees and operational requirement for Meininger. Though Meininger has been and is further expected to drive the growth of the company going forward, high working capital requirements would continue to present significant challenges. Also, Meininger business exposes Cox & Kings to additional risk factors economic slowdown along with forex fluctuations. Additionally, trade receivables levels of FY18, which were guided to be the peak, have not...