@iivans I agree , the growth has been phenomenal in last 2 Years. EPS jumped from 9 in March 2016 to 27 in March 2017. Profits similarly tripled in one year during same period. NPMs rose from 15% in March 2016 to 30% in March 2018. Where can these NPM margins stabilize. Have to look for reasons for this sudden growth from March 2016 to March 2017. Coming to the regular dilution , the business seems to be capital intensive as can also be said by looking at the high amount of Capex every year. Instead of choosing debt , they have chosen to dilute equity to raise regular capital. There are no red flags in doing that. I like businesses which can grow with no equity dilution or which can grow without much capital.
@vijaydosapati 1.5 Lac shares will corresponds to mere 0.3-0.4% ! The reason for promoter holding going down looks majorly because of continuous equity dilution as I can see the number of shares of promoters has hardly gone down much but as a % of holding has came down by 3%.
Disc : No holdings , studying !