Thin margin can be a moat if they manage it. But what I understood from concall is they don’t hold inventories long enough. So just like a sabji wala as long as you are selling your inventories fast you are safe. Falling comodity price can be bad thing for the manufacturers. Just like a farmer if vegitable price goes up it’s good for them and vice versa. For a trader falling price will work against the top line growth but margin will remain same.
Here they have explained about how they can tackle against inventory losses
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