I have following questions with regards to this company:-
1)TTM OPM is at 13% and it is constantly decreasing at the rate of 200bps yoy.
OPM for FY 13 is 22,FY14 is 20,FY 15 is 18,FY 16 is 15 and TTM is 13.
Can you explain the reason?
2)%of tax paid varies in last 4 financial years .Lowest being 2% and highest being 22% in FY 14 and FY 15 respectively.Any idea why there is so much difference?
3)Most of the expansion is through debt and interest component is eating out the profitability.
Regards
Bala