I cant get over this point. To emphasise again – in last 10 years company has improved working capital cycle every year. Company has also improved ebidta margins every year in last 10 years except in FY17. I havent found any listed company who has done that. “Samaz main nahi aa raha hai – rear view mirror dekhu ya aage windshield dekhu”. The confusion arises yet again.
But I need to be honest with myself. I really dont understand the “what” has driven this achievement. What makes franchise so strong ? And therefore – cant go beyond 3-4% allocation
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