Latest view
—
as of 3 Apr 2026 · not a recommendation
Evidence timeline
What management said
from NSE earnings-call filings · extracted, not interpreted
guidance downgradedgeneric growth 30.0%
So, obviously, I understand you mentioned that those will be materialized in this financial year, but from a growth perspective, we are targeting 30% growth.
Call 27-May-2026 · transcript PDF
Outlook, as stated
Ankur Shah: So these two companies also, both Conceptia and Waveoptix, as per their projection, they will also be growing; Conceptia at about 20%, and Waveoptix at about close to 30 odd%.
In terms of the order pipeline that we expect for the next six months to come through, we have bidden for several projects, about close to ₹200 crores, ₹300 crores that is there.
On your first question about the stake that is there, we hold about 25% stake, which will be up to 40% as per the original agreement with them and we are working towards that.
5.62
concrete references per 100 words spoken — counts, currency, units and
named periods, not adjectives
If management delivers what it guided
arithmetic on filed guidance and past valuations · not a price target
KRISHNADEF
FY26 → FY28 · 2 years of guidance · ~1.7 years from today₹1,198 today
BEAR
₹1,106
-8%-5% a yr
17.3% a year · 31.5x exit
BASE
₹1,703
+42%+24% a yr
30% a year · 39.5x exit
BULL
₹2,474
+106%+55% a yr
40.8% a year · 48.9x exit
Where the market has priced it
29x47x today52x
- the guided figure reached earnings through a low-confidence bridge
- multiple band rests on only 4 filed years
- this company's own median multiple sits 48% above its filed-industry peers; the scenario uses its own
How these numbers are produced
| Earnings base | FY26 fiscal year EPS ₹25.53 (screener) |
|---|---|
| Guided growth | 30% a year, said on the call of 27-May-2026 · transcript |
| Read across as | operating: unlabelled growth figure, read as revenue — low confidence |
| Delivery calibration | 0.58x / 1x / 1.36x of what was guided — measured: 76 annual guided-vs-filed pairs + 77 near-complete quarterly years — NSE transcripts against the companies' own filings |
| Exit multiple | 31.46x / 39.47x / 48.9x, this company’s own p20 / median / p80 across 4 filed years |
| Filed-industry peers | median 26.69x across 3 peers — the cross-check, not the input |
| Arithmetic | base EPS × (1 + guided growth × delivery)2 × exit multiple |
Arithmetic on management’s own guidance and this company’s own past valuations. Not a price target, not a recommendation, and not a forecast of what the stock will do.
Price chart
260 sessions to 4 Aug 2026 ·
daily close ·
our own broker data