By the end of 2025 they will be paying most of the legacy borrowing, Credit card business was incurring losses of 75 cr per quarter in Q3FY2022 , which should turn profitable.
these two can help Bank generating ROE of 15% to 16% by end of FY2025.

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That article is only mentioning sales in India .Its not necessary sale only in India …right ? Piccadily had bought one distillary in UK and already sales 30% of its total sales in 15 foreign markets as per the articles sited in this thread .
However, tripling production does not mean trippling sales …there are lots of other variables to consider .a single product will surely not beat every other single malt in everyones taste.But they do have Kamet,Camikara etc. and going by their silent but robust execution of a longterm plan for the past 10 years or so , its not too fantastic to expect them to excel in future as well .
Disc… invested from below 40 levels … 2x of invested capital taken out by selling a third of holdings.planning to kèep the rest for long term.

Hello everyone,

Thanks for sharing your thoughts in this thread. It helped me a lot in understanding the business.

In the Q2FY24 PPT, they’ve mentioned about “minority interest” and the profit that’s transferred to them is significant amounting to almost 40%.

I understand Flipkart holds a minority share in Flying machine brand. But I’ll be damned if 40% of overall profit is transferred to them and hence I’m betting it’s not Flipkart. Who’s this minority interest?

There was a question regarding this in Q2FY24 concall and mgmt mentioned it is linked to Tommy and CK.

So,
Flying machine – Flipkart owns minority interest.
Tommy and CK – Around 40% is owned by someone else(Arrived at this number by profit sharing percentage of latest quarter)
USPA and Arrow – Appears to me that whole profit stays with the company.
This implies company may own only 4 complete brands. Even if the company grows profit in the future, won’t significant part of profit goes out of company?