I had been an Investor in this name for about 2-2.5 years before I cut the stake about 4-5 months ago. The financials weren’t going nowhere. Bought it cause I simply liked the product. That’s all. Product good enough that eventually it’ll reflect in the business.
Growth remained slow, not enough to sustain any value appreciation, or to sustain a rerating – even for a equipment manufacturer, and in a time when infra is running like an 18th century locomotive.
I myself have been looking for a reason, specially to see if I missed out on something. Haven’t been able to.
No new growth prospects, no substantial project wins.
No new product launches, not big enough to change valuations to this extent.
Would like to know.
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