Thanks for the response. Even if industry grows at a modest 4-6% CAGR, since Tinplate is the leader in its category, I would assume there’s a good chance that it can grow its market share at a much faster rate. Assuming (this is a BIG assumption) that it will eventually be perceived as a structural consumption play, and given its parentage and its current position in the market, this can turn out to be a big winner in the long term IF its TAM is high and it can scale quickly to cater to it. So for me, it all boils down to these 2 key questions:
- What can its TAM be, say in 5-7 years from now?
- Historically, have its fortunes been inter-twined with Tata Steel? If yes, to what extent? And is there scope for that to change in the future so that it can be considered a fairly independent venture?
NOTE - Not invested but contemplating it
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