1800 PE is misleading. Was too for Idfcfirst, the darling of retailers.
Nykaa isn’t focussing on profits, but on capturing market share. It’s re-investing the proceeds in future growth. And aggressively so. But, only enough to not burn cash, particularly after getting listed.
I have done the calculation/estimation. If done correctly, Nykaa at 30% growth is cheaper than HuL one year forward, which has 9% growth.
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