Findings of Income Tax Department if proved correct could be a dampener for this compounding business. This stock could be an ideal long term candidate provided such things are found incorrect or stopped by the Management.
Sometimes, I feel that, it is good to observe newly listed business for at least 5 years before investing. I have not invested in this stock in 2020 due to its very limited history on exchanges. I was not able to decide the P/E range for this stock at that time.
In past few years, lot of new companies have been listed on exchanges. Low corporate governance by such newly listed companies will dent the confidence of investors.
Though it is early to conclude the wrong doing by the management in this case, but certainly does not look good for such a large business.
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