I think rather than taking management comments at absolute face value (promoters are very conservative), one must try to understand what is happening in the industry. Look at nos of Avanti vs its peers and there is a contrasting difference in the performance over the last 3 years. Most of the players despite being small have not grown and are working on wafer-thin margins or making losses. It’s rare to see a market leader having 45-50% market share continuing to maintain/grow its sales when the industry is in bad shape and other players are bleeding.
Interestingly after a gap of almost a year, Avanti recent commentary seems a bit positive.
Disc: Invested in family and client acs
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