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The company’s earnings per share on a trailing 12-month basis ended December 2021 are around Rs 3.12 on a post-diluted basis. The stock currently trades at a price-to-earnings (P/E) multiple of nearly 120 times. In an IPO note, Marwadi Financial Services had recommended ‘subscribe’ to the IPO citing favourable valuations compared to peers such as Relaxo Footwear and Bata India, which trade at a P/E of 103x and 357x, respectively.
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