I think the sharp fall is a mix of multiple factors. EBIDTA margins are only at 6% in spite of raw material prices correcting sharply over the past 1 year. To be fair, the management in the last qtr call had guided that the blended margins will be soft in the near term due to low pricing power in the industrial segment and currently they are seeing higher sales in this segment. The management has also guided for only 10+% growth in the topline for the entire year.
I think this story may take a little while to unfold.
Disclosure: Invested from lower levels
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