I don’t think valuation of 15X FY24 is what you call expensive valuations. Stock can easily go up to 25X FY24 and still be reasonable. The reason is simple, you have a business which is growing 100% YoY, strong margins great future prospects and low competition. Employee will be 1000 from 500 this financial year , 2000 next financial year.
If you search vfx industry in india, you will get numerous articles by various media organization saying the golden period for VFX in india is just begun also government in this budget proposed to give some kind of tax breaks to AVGC industry as this sector has massive employment opportunity in upcoming years.
Based on my analysis,
3 Month Target – 480
6 Month Target – 750
12 Month Target – 980
C.M.P – 377 (12/6/23)
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