Revenue Badha, Par Profit Gira Kyun?
Dekho, company ne sales toh achhi ki, revenue 20.8% upar le gaye (₹210.2 crore tak), aur EBITDA bhi 50.9% badhakar ₹21.1 crore kar diya. Matlab operations toh mast chal rahe hain. Par pata nahi kya hua, net profit 15.6% neeche chala gaya aur ₹13 crore hi bana. Aisa lagta hai ki maal banane ka kharcha ya doosre operating expenses bahut zyada badh gaye hain, jisse top-line growth ka asar bottom-line par nahi dikh pa raha.
Market Ka Reaction Aur Kya Hai Haal?
Is mixed report ko dekh kar investors thode naraz hain. Monday ko stock 1.46% girkar ₹873.35 par aa gaya. Company ka market cap ab lagbhag ₹4,500 se ₹4,650 crore ke aaspaas hai aur P/E ratio 15-16x ke range mein chal raha hai. Analyst log thode confused hain, par consensus rating abhi bhi "Strong Buy" hai aur average target price ₹1,124 hai, matlab future mein 23% tak ka upside dikh sakta hai. Lekin haal hi mein kuch analysts ne target ghatakar ₹806 ya ₹665 bhi kar diya hai, toh zara dhyan se.
Purani Kahani Aur Future Ki Chinta
Kaveri Seed ke liye yeh koi naya challenge nahi hai. Pichhle paanch saalon mein, company ka earnings growth sirf 2.9% aur revenue growth 5.7% raha hai, jo industry average se kaafi kam hai. Cotton hybrid sales mein bhi problems aa rahi hain jisse profit par pressure pada hai. Halanki company par koi debt nahi hai, lekin unhe apne kharcho ko control karna hoga aur zyada consistent earnings growth dikhana hoga. Agriculture sector India mein 3-3.5% grow hone ka estimate hai, toh opportunity toh hai, bas company ko iska fayda uthana hai.