Dolat Capital's research report on Kaya
The management reiterated that the India business break-even is possible in three years if the SSSG remains in the range of 13-15%. Though the company has not delivered the targeted SSSG consistently in past few quarters, the management is optimistic about the growth rate in the ensuing quarters.
Outlook
We continue to believe that the business model is unique to a limited audience. Though the entry barriers are not very strong, the business is very difficult to replicate or get to the nation-wide level. We believe that with an increase in crude oil prices, ME business growth would be back on track. We maintain ACCUMULATE with TP of ` 1,032.For all recommendations report, click here
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