How common is it for secretarial auditors of a company to resign?
Buddy import slowdown is good for domestic players. Imports slowdown when price of imports is greater than domestic MDF.
Export slowdown could be because you are able to sell more in India and demand is strong.
Either ways the data does not seem negative but seems positive.
@vnktshb Export slowdown is more likely due to slowdown in export demand, as mentioned in the interim brokerage reports I have shared above. Domestic demand should still be holding up, I agree. Let’s see. Data seems more or less neutral to me.
Freights continue to normalize, Freightos index down to 3700 now, about 2.6x pre-pandemic levels.
Though container freight costs have come down meaningfully, it is still 3.5x pre Covid levels and MDF import realizations are holding up. Stock is trading at a P/E of 10.9x after recent fall which is super cheap
PE multiple on current EPS isn’t the right way to look at a commodity stock IMO. Market looks forward and starts discounting next year’s or next to next year’s earnings and assigns a multiple to those earnings. Market most likely expects realizations and margins to compress as new capacity comes online in FY23 end, FY24 start. Therefore, if investors are annualizing Q1FY23 EPS and calculating 1 Year FWD PE of ~10-11x, market is usually one step ahead and maybe factoring in a 20-25% earnings compression next year and assigning a multiple to that. Although, even with such an earnings compression, the stock has the potential to go higher from current levels.
Meanwhile Greenpanel keeps consolidating.
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