Waaree Renewables – old Sangam Advisors – can it keep on renewing?

Why this business should deserve P/S of 20+, P/E of 100+, P/B of 70+ ?
There is no moat, no differentiation, no sustainable competitive advantage.

There is growth in the sector, adoption of solar energy is increasing, more projects are getting installed, big and small, but that does not mean valuations can be sky high. In fact there is no reason why even the sector valuations should be rich, a sector PE of 70+ is way too high.