I agree. Once the manufacturing facilities are fully utilized, in 3 years time, revenue should be around 450 crores. Based on past performance of the company, expecting a profit of 80 crores at that time is reasonable. Still, a few things are there to be watched closely;
(i) Italian imported product portfolio is doing very well, known in the market and commands a good margin. It is likely to continue.
(ii) Indian manufactured products are not that premium products, and margin shall be a tad lower on those items. I expect to be around 15%.
(iii) We dont know acceptability of their wall paints in the market. If it is accepted well in the market, the company will do very well; however there is cut-throat competition there.
Investing is all about looking into future, and nobody can be sure of future. Let us keep a close watch on the company. Yes, it has a potential to be a multi-bagger.