Valuations look very attractive considering growth. concerns raised seems valid about salaries and shantilal & should be probed further. Numbers mentioned are not very high compared to overall sales. ( 28 lacs and 1.2 cr).
Promoter looks serious and genuine about scaling up business to the next level. Very valid point by vivek. If someone from Ahmadabad could visit new factory then it will be very helpful.
Just a thought, and I may be wrong, business should not be looked as only led lighting, it’s more like providing complete lighting solutions to high end stores.
Disc: invested. Added in recent fall.