In the backdrop of a limited listed history, lack of comparables to take cues from and the yet-developing understanding of underlying business dynamics, we add context and perspective to existing valuation metrics. The exercise leads us to believe that an extension of the time horizon coupled with a natural evolution of the business make a case for significant valuation triggers from current levels -in line with the benefits of a long-term growth story unfolding. Sustained superiority of financial performance because of industry trends, business model and operational excellence continue strengthening our positive long-term view on the stock