According to me, current valuation of 30x PE is not very expensive where leaders are getting 70x PE.
I will keep on tracking below pointers -
- Debt on books - Currently debt free
- Working capital days (should reduce drastically in 4 qtrs as per guidance)
- Expanding dealer network
- Growth in South, East and West region. Currently only 30% comes from here.
- With a capex of 15cr, expecting 200cr revenue at peak gives nearly 13x Asset/Turnover which is quite encouraging.
- Expecting 30% CAGR in revenue and Margins of 22-24%.
As many big players are already there, it is not easy to grow at such speed with maintaining margins for company like Sirca of such a small size.
Management is also putting alot of efforts here. Keeping 2-3 years timeframe and tracking closely.
Expecting approx. 80-90cr PAT in FY25.
D - Invested
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