Lt foods (daawat)

I wonder why LTfoods is available at such a cheap valuation(P/E – 10 or 11). Revenues are more than the market leader KRBL. Gaining market share in india + expanding into new geographies(saudi). From past few years, Management is achieving the guided results. ROE can be improved, if they can do buyback. Open for acquisition with good reserves(looking for business with 30% margins). Good distribution network in India, US & Europe. Guiding for doubling revenues in the next 5 years. I am still bullish even after runup 5times from 2020. Atleast 4x from here

What could go wrong?

1. Government restrictions on rice exports.
2. Climate conditions(Drought/Heavy rainfall).
3. Commodity business with slow growth(need lot of working capital).
4. Guiding margins are 13%, sustained margins – 10 to 11%, increasing margins could impact sales.
5. Demand slow down due to EU & US Geopolitical issues.
6. Health, Convenience & Organic segments are not growing as expected.