- Despite Export duty, it was at 4 PE even at depressed earnings. A debt free high margin, high ROCE company with good corp governance at 4 PE is a blind buy in Indian markets, given that random stocks are at 20-25 PE.
- We are still at 50% of 2010 prices in USD terms. The only way is up in the long term. Since, stock value is sum of future earnings, this meant huge upside.
- Growth is huge. Just in last to last Investor presentation they declared they will increase mining capacity 2x in 3 yrs, and 4x in 6 yrs. That’s huge growth, higher than most other companies listed in Indian markets.
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