Very valid points. The only thing I would like to add is that 60 P/E on TTM is not on normalized margins and I think it is possible to do 14% kind of margins on normalized basis given their GM will be in 45% range. Thus 100-120 Cr PAT range is expected so it is 30-35 times FY 24. However, this too is fairly priced in my view 
Discl: Invested with decent allocation
| Subscribe To Our Free Newsletter |
