I think what hurt the company, was the curb in capacity expansion of Quartz sink which has to do a lot with the Russia Ukraine war which slowed down the demand in Quartz sink hence they had to halt that and focus on other categories. Even I was very bullish in the company so much so it was 15% of my folio at one point, booked partial profits (meagre 10-15%) in April and added again today, but it’s just 4% of my allocation now.
Hope they build a good domestic portfolio and sale of Quartz sink picks up in Europe and US. Management also suggested some competitors in Europe are facing difficulties and some demand might shift to them. My strategy is to evaluate the results on a quarterly basis and add accordingly over the next 12 months.
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