Majority revenue still comes from steel trading and there is no pricing power there.
But my thesis for investment in Shankara has been –
(1) Growing Non Steel segment +
(2) Demerger value unlocking.
Both are still available. My concern is whether they can continue to grow non steel segment proftably and would their addl capacity at manufacturing can prove to be beneficial.
Let me know if anyone has any thoughts on this.
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