[Dilip Davda] The company operates in a highly competitive and fragmented segment with many big players around. The sudden boost in its bottom line for 7M FY23 raises eyebrows and concerns over sustainability going forward. Based on such super earnings, the issue appears lucratively priced while based on its track records so far, the issue appears fully priced. Tiny equity capital post-IPO indicates a longer gestation period for migration to the mainboard. Well-informed/risk takers may consider investment for the medium to long-term rewards. Read detail review...

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