If we exclude the claims in Q2, the 9M profits are at 650 Crores. With another 250 crores profits (estimate) in Q4, the total profit for current fiscal should be around 900 crores, which results in an EPS of Rs. 15 per share. At CMP of 225, it is 15 PE for FY 24 numbers
Not sure if that is long term cyclical peak PE or can it be further re-rated based on how orders flow in post elections.
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