Hi Guys ,
Credo brands mufti came to ipo on 28th December , with issue price of 280. It was oversubscribed with lot of interest from institutional investors. With market conditions it is beaten down to 220 levels, which makes it a great opportunity to add .
Even in 9Mfy24, their PAT margins are at 12 % and at cmp 224.5 its trading at a pe of 18.6.
Looking at the chart this looks oversold
The revenue this year , had grown at 19 percent and due to more advertising spend , Pat was down 7 percent.
Fundamentally looking very solid. Also Its peer cantabil retail still quoting at a pe of 31. Company guided for growing at 20 percent yoy . What Am i missing here?
Also since free float is just 15 percent , this took lot of beating . So volatality is expected. No reco, take your call