Co doesnt seem to offer enough risk reward even at these current levels,
Mgt guided for 2x rev, 2.7x ebitda, & capex of 1000cr (fy24-fy28),
assuming dep -200cr, int cost – 20cr, tax – 29%, gives a 400cr PAT by FY28
@25xPE, this results in 10,000cr.
current mkt cap is 8000cr. A 25% appreciation in 4 yrs from current level, if mgt executes perfectly.
not enough risk reward
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