Shivalik Bimetal Controls Ltd (SBCL)

Thanks for your comments. I don’t want to drag this further. However, I will recommend these books and readings –

1. Expectations Investing (book)
2. What does a PE multiple mean (a paper by Credit Suisse). Search for it on Google.
3. Valuation book by McKinsey (one of the highest regarded books on valuation).

I am giving a screenshot (excerpt) of this book for your reference (please read the definition of N in the screenshot):

Now if we want, we can argue with Modigliani and Miller who actually won the Nobel Prize why they called that period as competitive advantage period.