Sahil Kapoor says “the margin expectation which is built in is that we are going to go higher than our all-time high in terms of profit margins and that is going to be a little challenging. So, A) sales growth is slowing. B) We are already at peak margins, I do not know how far we can go from here. This clearly tells you that there is going to be a pressure on earnings growth in the next 12 to 24 months. But when you look at prices, they have run up quite a lot in mid and smallcaps.”
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