With the current capacity, they have a guidance of 2500 cr by FY26. Which will be 20% YoY growth over FY24-FY26. The new capacity will stary contributing post that. There is chance of slight operating margin going towards 18-20 %. This business to me still fairly valued. They are churning out new products via R&D, creating a brand in the domestic market, strong balance sheet (possibility of an inorganic acquisition). Biggest risk to me is the corporate governance faltering, as they have a history.
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