The calculations in point 1 are correct but didn’t quite understand the logic behind why you said that the steep valuation of 65 PE is an invalid argument at this stage (Even though after the results from the current quarter it is ~50 now and is only going to reduce further but still??). If the interest income is a significant component of the earnings currently, then it is only going to reduce with time (The interest income as percentage of the OP is going to decrease and even the absolute value of the interest income is also going to reduce due to utilization of the funds, which is going to lead to an even greater drop to the contriubution of the int income to the PAT, so it is only going to reduce with time). So just curious did I miss something in that argument?
PS: Ofc there are massive expansion plans etc but by the above logic how can we say that the PE of 65 won’t be an appropriate measure
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