@Smile✍️ Ikio dropped because in the concall on 8th Aug, they clarified that the YoY numbers were not like for like. Essentially, YoY growth seemed much higher because in FY23Q1, only standalone numbers for Ikio lighting were included, whereas FY24Q1 numbers included all subsidiaries. That made the YoY growth look much more than it truly was and QoQ growth was a real comparison (still growth).
That said, this drop is very temporary as the company is on a very good growth trajectory. Q2 is festive season where they make the most. Plus, their capacity expansion plans, expansion into US and also into other categories like Lithium battery bodes well for strong growth.
Don’t worry about this dip, add if you feel like.
Ps: holding all my HNI allotments for at least 2-3 years.