Hi Sahil,
Thanks for the response. Having read some of your analysis on other threads, I will be keenly waiting for your findings.
W.r.t your questions, have added a key risks section as well as some pointers to the different industry segments. This, more or less, encompasses most of what I know so far.
Certain details like what fraction of the flexible packaging is in repeat business, what are the shares of the highest clients are not available. I would have liked to get those from somewhere. But overall, my sense of risk here is not high. The worst, imho, is that the main growth phase is past and we may not see a significant up move from here on, but it does not look like that for me, especially considering the significant investments into capex (both divisions), and the diversification of pipes into CPVC from PVC and the added focus on fittings, it seems that the firm is gearing up well to tackle competition in its home grounds at least (pipes division).
The next few quarters performance should be quite enlightening though.
On a separate note - congratulations on successfully kicking the sh*t out of C19. No doubt it was a most miserable experience, but you are now out on the other end, and looking at the brighter side, you don’t have to queue up for the miraculously unavailable vaccines, not for a few months at least.