Precisely for this reason I have taken 11% odd CAGR which is reflective for most of FMCG companies like ITC , P&G , HUL and Nestle ,
Now on PAGE - is not pure FMCG company ( it is apparel company) + it does own the brands it markets so it more like distributor with exclusive licence . We have very few parallels for such companies to compare …and hence I as investor will seek higher MOS .