TTM P/E shall be seen after considering the spend for advertising and promotion, which is an expense for maintaining the future growth. This adjustment will drop the PE to ~37. PEG of ~3 and not attractive for an active investor.
At current valuations, annual dividend yield is ~1.8%. Considering the nature of its products and India’s demographics, future earnings growths CAGR could be similar to historical amounts of 10% over the next 5 yrs. That shall lead to capital yield (price cagr) of similar amount although may not be in a linear fashion. Hence, an overall return of 10~12% seems likely at CMP. Above all, businesses like these provide stability for a portfolio in times of extreme pessimism such as COVID and peaceful sleep to the owner even if one bets a significant amount of their net worth.I think a passive investor would do better than FDs without taking risks inherent in the equities.