Thank you Mihir for your views and the crisp analysis in the thread. A couple of things standout for me from the excel sheet that you shared. Shouldn’t a sub 2x gearing on an equity of >20k Cr be easily more than >30k Cr? That should hopefully help with a better RoE than projected by you.
The estimate of 1800Cr PAT in FY27 just gives a PAT CAGR of 15-16%. The current PAT is already in excess of 1200Cr. So, essentially you are saying that someone should be investing more for the market to re-rate the stock and not so much on the earnings potential?
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