Absolutely fantastic document. Superbly informative about sector, pitfalls, problem spots and future.
More informative than most reports, concalls.
Just putting out at 15% NPM and 1000 Crores turnover for FY29 which they say is achievable, then fy-29 forward PE will work out to almost 20x which is unreasonably high.
Disclosure: Not Invested, Interested.
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