Great Analysis?
Couple of points I want to add here:
Promoters stake reduction is due to reclassification of certain promoters to public category and also selling by some non-executive members of promoter group. In fact active members like MD of the company Sharad Taparia are constantly increasing their stake.
2nd, don’t know about current capacity utilisation but the company is undertaking big capex. Property, plants, equipments have almost doubled in this half year
Valuations don’t seem to be as streched given the sectoral tailwinds and capacity increase lined up. Let’s track how the business unfolds?
Disclaimer: Invested & biased
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