Key risks
Margin collapse: OPM fell 1,276 bps from Dec 2025 (31.84%) to Jun 2026 (19.08%) — cost inflation, pricing resistance, or mix shift unresolved
Revenue decline: Jun 2026 ₹891 Cr vs Jun 2025 ₹937 Cr year-on-year with no growth trajectory evident
Stock underperformance: -36.25% 1y return at 52w low — verify whether margin pressure, valuation reset, or sector headwind caused decline
High valuation: PE 34.63 offers minimal margin for error; clarify if justified by dividend stability or reflects execution risk
Generated analysis · source review pending