Thanks for bringing this. In the DHRP (2006) they have mentioned that the depreciation calculation might change to 30 years instead of 12 years. Which gives us 3.33% rate. This implies they are factoring 30 years.
This makes sense as keeping the Depreciation lower will give them higher asset value thereby they can charge more from customers. As their pricing is capped at 12% ROCE by regulator.
pricing is the most concerning thing in this stock though they have excellent toll gate type business model.
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