Companies with multiple growth engines

Hi All,

Another company which is falling under this category is Angel one. Though regulatory changes are big overhang for the company but it’s growing at blitz scale.

1. Revenue growth 70%+.
2. PAT growth 30%+.
3. PATH growth is slower due to higher Marketing expenses (mostly due to IPL) and addition of new business which are not contributing to topline. I feel PAT margins can increase once other verticals start contributing.
4. Trading at P/E of 15 which is lower than median P/E of 20.

Discl: Invested