<ul><li>Revenue and Profit Growth: FY24 revenue grew 24% YoY to 0239 crore, with a 3- year CAGR of 44%. Profit reached QI 2.2 crore, and NPM improved to 5.1% (+190bps YOY), signalling sustainable growth. </li><li>Operational Efficiency: The company's asset turnover ratio is 2.5x, with moderate leverage (AIE of 3x) and a strong ROE of 29%. A short cash conversion cycle of 2 months highlights its effective capital management.</li><li>Capacity Expansion: Manufacturing capacity expanded from 8,000 Mtpa in FY20 to 28,500 Mtpa in FY23, with an expected rise to 35,000 Mtpa in FY24, supporting future growth.</li><li>Strategic Clients: Proximity to suppliers and a strong client base, including Indian Railways and KP Power, ensure stability. An unexecuted order book of GI .95 crore offers short-term revenue visibility. </li><li>Investment Opportunity&nbsp;With an FY24 EPS of 020.98 and a PIE of 6, the company's stock appears undervalued, presenting long-term growth potential.</li></ul>

With robust revenue growth, operational efficiency, and strategic capacity expansion, the company presents a compelling long-term investment opportunity

Madhur Soars with Strong Financials, Capacity Expansion, and Growth Potential