@abc xyz , thanks for sharing your findings for everyone’s benefit.
Just a query, if you look at PAT margins, Hemant’s numbers are actually very similar to QMS..around 6-7%. So shouldn’t the PE be closer to what QMS has, i.e. current issue price seems like the most appropriate value?
If we look at Poly .. their YoY growth and PAT margins are stupendous, compared to Hemant’s fairly flattish growth over last FY and liw margins.
Here’s a snapshot from the RHP-
I’m sure Hemant will open much higher, based on GMP, but at what value new buyers get in and hold, one should definitely have a good analysis done..