FY 2022-23 was an exceptional year, Amonium Nitrate prices had reached historical high of EUR 850 /MT… as against average price of around EUR 200-250 for last 10years. Company has also advised in its current concal that there will be volume growth of around 15% in the current FY , however topline growth will be flat.
The current valuations in my opinion seems to be reasonably high looking to flat growth and hence the share price is expected to remain stagnant for next 9 to 12 months.
Disclosure : Exited my position and will review entry after 9 to 12 months.
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