Won’t take a lot of time for Google Maps to beat that feature. Lot of hiring in India Maps team since last year.
Though the company has moat in B2B as mentioned many times in this thread (as compared to foreign players)

Can anyone guide me – what are the key risks for the company – from now onwards

As you said, < 100$/kwh, investment can go for a toss. Toss in the sense of asset payback – Asset turnover i think.

1. I have not studied Spread between raw materials for cells and final cell price $/KWH, but it seems OPM will maintain a range over a longer period of time. Any comment on this?

2. Any idea on how cost incurred to set up plant goes down with fall in cell price? That will determine asset payback and desire to add more capacities. Usually longer than 7 years asset payback slows down new capex.

3. Is plant fungible to other technologies like metal air, sodium based OR even different Li based compounds (likes of LiCoO2, LiMn2O4, LiFePO4, LiNiMnCoO2 etc) cathods ?

Few anti-thesis points:
You may have come across in social media platfroms that the Lounges had big queues. I assume that most people were going there just because it’s available for free and I believe not many would go if there’s no free lounge access option.
I don’t think many of them would shift from current cards (500 AMC ) to premium cards (1500-2000 AMC) just to avail the Lounge access benefits.
Let’s ask ourselves the following questions:

1. Where do I and my peers (colleagues, neighbours) stand in terms of earning spending ability (top 5% in India, top 20% in India, etc…)
2. Am I (and my peers) willing to pay 1500-2000rs AMC for a card just to avail the Lounge access benefit ? ( If I’m in top 20% and not willing to pay then people below 20% are also not willing to pay, and same for top 5% and vice versa)
3. Am I going to /willing to spend 1-1.5 lakhs in a Qrtr to avail Lounge access benefit ?

From my limited understanding people are taking different Credit cards to avail shopping benefits (1.5% or 5% reward points) and the lounge access is not a deciding factor. So, I believe people will just let go of lounge benefits

From my above anti-thesis I believe that the revenue will not grow beyond 50% (not CAGR) in next 4 years and stock would not reach it’s ATH of 847 any time in next 3-4 years unless the contribution from their other business vertical (leasing their software to othe cos etc.). and I’ll not be buyer in a business with no growth at 35x P/E

Disc: My views are with limited understanding and no holding in the stock

I agree that may be true in somecases. But it’s not applicable for all cases (infact not applicable for most of the cases)
Take example of pidilite

One can see that the profit growth in last 10 years is in teens and the returns are higher because of the rerating. Basic common sense tells that the chances of profit growth will be only in teens for next decade as well. So, the returns would also be in teens (as valuation rerating from here onwards is quite difficult).
So what I mean to say is, If we pay high valuation like (50-100x) for a co growing <20% in sales and profits be ready for derating.

Short response to your above point is, “In Indian market with 2000+ listed stocks why buy a low growth, high PE stock that may fall 50% ?”
I’d rather wait and buy the stock at historically low valuations

Take example of Saregama Ltd

It’s a co that can grow profits at 20-25% CAGR. If someone paid 67x P/E for it, he/she should be ready for derating. But at Current P/E of 33x It’s not a bad decision to buy.

Cases where I’d pay high valuation:

1. MTAR current P/E of 70x. But FY24 P/E would be 53x and I’d happily pay that for a co that can grow 30-35% in sales and profits for next 4-5 years (Why would I pay the same P/E for Pidilite growing in lower teens)
2. I’ll pay 30-35x for SRF, Gujarat Fulorochem that can grow 15-20% , but not 45-50x
3. Will pay 30x P/E for Dodla dairy growing at 15% CAGR but not 45-50x P/E for Britannia growing at 13-15% CAGR

Finally If someone is experienced enough to have vision on a co. for 10 years time frame, they should very well be aware and consider the entry valuation and drawdown potential

@CreateBetterVersion If the comments you’ve made are coming from experience of holding a stock for few years with drawdown, please share with examples. This would be a good case study to oppose the point I made and would help other participants

Thank you
Praveen
Disc: No recommendation by any means. Holding some of the cos discussed