There revenue target for FY 24 is 200 cr i.e growth of 77% on base of FY 23. If we assume the PAT margin of 15% on a base case scenario they can do a 30 cr PAT which turns out to be 1 yr forward PE of 16 roughly. However to note that this is purely dependant on how well the management is able to execute. There guidance is quite bullish but execution is still to be seen. Additionally they have hired around 50 professionals to devise co’s future growth plan and expansion in US. So we have to be cautious of the fact that in case this does’nt pans out well then derating can be severe from the current levels.
Disclosure – have a tracking position
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