I appreciate your comments SecretInvestor
This is a forum sharing views and not an obligation to buy to sell based on what I observed in the financials
My last observation was about the way they managed their gold risk which could have easily been averted
Regarding their bold plans to expand into housing and micro finance, every expansion comes with a risk and a company that couldn’t hedge their gold risk makes me hesitant that I might be betting on Midlands bank that wanted to expand into US
When companies like Manappuram become expensive relative to their business model its an alarming sign we might be in the upper tranches of the bull market
I would watch Mannapuram only for those reasons
May the markets be kind to you !