Thanks - my apologies- wasnt meaning to address those questions to you. These were more in terms of my mental probes to understand the opportunity better. I understand that mgmt doesnt do concalls /provide guidance. May we worthwhile to reach out and seek a meeting The pointers on PPE help- will dig deeper. OPM estimates based on screener- the range seems to be 10-15%, ignoring negative margins on couple of occasions. Operating leverage - not accounted for simplicity sake- similarly int, dep, and taxes not budgeted (offsetting). Again this was meant to be a back of the envelop exercise. Of the 100% utilisation can happen in next 3-4Y, worth a deeper dive as MoS (both from loss and opportunity cost perspective) will be favourable. In any case, appreciate the effort and research put in by you. Kudos and keep doing the excellent work. Cheers,
100% utilisation seems unlikely. 2009-10 was one of the best years for the company and then it operated at around 55-60% utilisation. So around 50-60% is what we can reasonably expect in my opinion. Even so, there is a prima facie MoS. Valuations are too low to ignore
Only thing to figure out is the business cycle. I think utilisation is a good measure. 24% in FY 24 means we are either near the bottom or the recovery has already begun.
Warrants a deeper look. Seems the promoters have bought an additional 1% from open market in the last 6-7 days or so.
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