60 PE would be reasonable for such growth company, PE is down from 80 levels in 2021-2022 to 37 levels in Mar’24.
There was some correction after Q3 call where management cautioned about the growth prospects due to in house capacity building by brands, but they keep on acquiring the new customers and introducing new products to maintain the growth.
Q4 comments are very strong and growth would continue for medium term.
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