Agreed that their growth is and probably will be dependent on their order book only! But why do we need them to command a high PE in the first place when growth in the stock price can come directly from the growth of the business itself? There current order book (as on June 30th) is almost equal to what they did in the whole FY24. And the duration of completion of all the orders is 3-6 months. This would mean that what they did in the last full FY, they would do in the H1 of FY25 itself (which is why they’ve been guiding on an 80-100% revenue growth in this FY).
Moreover they are also actively expanding their presence in the ‘Design and Build’ category which is a high volume/revenue business. Also looking at the tailwinds also we can reasonably assume that the company is poised to do well in the coming years…
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