Thanks for enumerating the data but I feel the promise of capex is extremely slow to realize, to the extent that they have had to renew the EC for the expansion project. This does not look that good to me, currently all the progress is locked up in land and buildings only. If pace of capacity addition is slow, and then utilization is also slow, then we might end up with no special growth at all.
There was an exact same promise in Kanchi, thankfully in its first ever investor interaction the management clearly stated growth of 15% to 20% only and 8 years for full revenue realization. I sold 65% of my holdings during that con call, after having waited for 2 years for capex to finish. Valuations were at peak and margins too. (I did not sell fully because the price data pointed to peak quarter ahead)
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