Completely agree with you and I happen to admire their operational abilities very much but that makes it a commodity biz so unless and until they improve their consumer biz. Their bottom line would always struggle in one way or another which is very much visible in current quarter. Their topline increased so much but bottomline got depressed. So unless and until their consumer biz commands a bigger share, bottomline will keep on fluctuating and there would be a need to track so many X in the equation. And also you can’t command a higher valuation in a commodity biz. That’s why I’m tracking their them closely and although I’m a a non alcoholic person, request everyone to let know of the quality of the product. Although their instagram looks good for the Terai gin but you never know the ground reality.
I’m invested in this biz assuming it a commodity as of now but hoping that it turns out to be good consumer biz. Till the time something good happens in consumer biz. I’ll value it as commodity play with a little bit less caution because of consumer biz.
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