Thank you for sharing your thoughts.
Our discussion has boiled down to this:
Gufic had extra boost in the top and bottom line in FY21 and FY22. Hence FY23 didn’t look nice. FY24 has good topline growth but bottomline suffered due to margin contraction by ~200bps.
1 year which is FY24 has not lived upto our expectations and that too only in the bottomline.
Is 1 year enough to take a call on a company? Does ~16-17% growth in this 1 ‘bad’ year mean nothing and we start calling a 1 year patience a bad virtue?
I am a fan of the likes of Abbott, but I understand it is a business in action not my excel sheet. I choose to give it time. I guess this is why we call investing an art and not a science.
Either of our opinions can go wrong – that is why we are all learners of the market.
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