In my opinion, one needs to give a long rope in case the management is being honest with the challenges.
Especially, when Mr. Poddar explained the challenges the co has faced with the uncertainty in the domestic footwear industry with BIS standards implementation.
IMO, the company has done well to avoid degrowth while keeping the margins intact.
There could be real business scenarios which might be encountered on ground, which we as investors might not be privy to.
What we can do is, assess what the current valuations, if they are optimistic or pessimistic considering whatever future growth might come in.
Disc: Invested, will revaluate after giving a couple of more quarters to the management to deliver.
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