Just listened to the concall – pretty much aligns with my perspective.
A back of the hand calculation for an investment horizon of 3 years is as under.
Figures as per screener:-
Sales growth h1 fy24 = 65.56% (much less than the previous years)
PAT margin for this qtr = 6.38% (don’t think margin can go below this)
Estimated sales for fy26 = 3507.82
Estimated PAT for fy26 = 223.8
Estimated PAT CAGR = 44.73%
No major equity dilution expected.
Ttm PE at CMP = 34.64 => PEG of less than 1 which shows it is undervalued.
P.S. This is not to be construed as a buy/sell recommendation but a perspective on the valuation.
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