Topline growth for Sandesh has been 8-9% but bottomline is growing at very healthy pace. FY15 saw bottomline growth of 24% whereas in FY16 growth was 40%.
It is also a very strong brand in Gujarat and commands premium in the market. Someone from Gujarat can vouch for me.
Only concern was the money given to Applewood Estate, which is now converted into equity. Now Sandesh owns 21% of Applewood Estate. How that will be profitable for shareholders of Sandesh remains to be seen?