I think that’s the trap we are falling for (exited after Q3 business update)
Honestly, q3 update was not a surprise and was pretty much expected based on mgmts commentary and a very high base last year due to bunched up wedding dates. 9m performace has been quite solid so far. Based on their guidance in q2, one can expect 15 pc growth in q4 as well.
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Q3 numbers are not bad.
in this Year there is some spill over of Q3 revenue to Q2 due to Festival season is started at the end of Q2 in this year, where as Festival season is full concentrated to Q3 last year.
Same applicable to wedding dates as well.
I am expecting 13-14% Top line growth in this FY against management expectation of 15%. PE would be ~15 with EPS 9-10/-.
It would be buy for me even at current levels and at 5-10% further fall.
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I think Q3 was as expected - lower sales due to Q2FY26 windfall, plus a higher base effect from Q3FY25. Overall, for FY26, expecting to close at 14-15% revenue growth, with INR 120 crores profit (41% jump in PAT YoY). Expecting more Vara Mahalaxmi formats vs Valli format for FY27. Looking forward to the 19 Jan result announcement. If EBITDA < 12%, would take it as a negative signal. If around 14-16%, normal. If >18%, very positive.
PS: Holding with 2 years’ horizon.
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