I have a few points up for discussion in Pantaloon due to the changing times.. Any thoughts ?
1) Will we see Public spending decrease this year and next one or two?
There are several reports that already consumer durables goods market sales are coming down this month. Car sales are also showing slow down.
With US & Europe affected, if not major IT companies, at BPOs & smaller IT companies there may be job losses. Salaries will not increase at major It companies. Will this mean lesser spenders & less disposable income?
2) Where will money for expansion come from ?
With credit becoming hard to get, will this be the scenario for 1-2 yrs now ? Will PRIL have to get money at higher interest rates and will this affect its abilty to sustain?
3) How about EPS growth ?
Will it be able to produce EPS growth of 50%+ in next couple of years ?
I have trust in Biyani and have little doubts that PRIL may stand the bad time. In such times of recession and bear market will the market continue to give P/E of 30 for PRIL (at price of 225 or so)? And will consumption boom resume after that anytime in next 2-3 yrs are some questions ?
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