There is a lot of junk that hasn't been disclosed.
I do focus on revenue a lot. I wanna know how management can project 13% growth in revenues for next FY. My take is this is purely based on discount that is coming off for a state and like to like sales. 13% growth is a really not a fantastic number. If they are forecasting 13% how on earth are they going to grow profit exponentially. Cashflow profit multiples are just as bad.
And again the writing is on the wall. Over capitalized investors are happy to pay whatever Morgan Stanley and others are asking. MS themselves are underwriting the IPO. DOES THIS BOTHER ANYONE?
I'm again looking at numbers and story.
A significant contributor has already pointed out that their TAM is very small. I agree with that.
This is not a growth stock. Can we all agree on that least?
IPO, page-98
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