Management was pretty clear in Q3 concall i beleive that agreement with vendors on Soda ash prices would expire in Apr 22 and margins will not be same from next year, hence we could see pretty good numbers in Q3 and 4. With huge spike in soda ash prices + Rise in power n fuel added more pain to bottomline.
Regarding interfloat acquisition it won’t be just Borosil who will get impacted if there is a gas shortage. We are looking at Global company in making now with acquisition abroad. I agree the current valuation has baked in next capex.
Overall i have good conviction on management who has been walking the talk and conservative in guidance so far.
Disc - invested from 200 levels
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