I feel margins will remain under pressure for the next few quarters, in the latest concall management had mentioned that there is price pressure and inventory is an another issue.
They have received clearance for kakinada expansion and they have decide to do an overall capex of 1000 crore, though not specific for kakinada which may show in revenue by FY25
I don’t feel there are any business triggers in the short term and for the next 3-4 quaters the stock will remain under pressure.
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