Comparing turkey with India is not the right way in my opinion. Turkey is a developed country and there is a long runway in India. We need to compare consumer company valuations in India. Companies like Dabur, HUL,Britannia,Nestle are commanding huge multiples with hardly any growth vs VBL which is growing double digit every year. Management is consistently increasing TAM size by exploring markets outside India. Yes, 75-85 PE is high hence the stock is moving sideways but if growth visibility is there, it is not going to come down in a hurry imho.
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