Valuation:Thus, we believe that on account of the above factors, expanding transmission capacity and being of the lowest cost producer of transmission towers, the Company expects 15% growth in the segment. Also, pick up in polymer business along with asset light model wherein, the land is taken on lease and company invests for plant and machinery will give much better asset turnover. Over all capex would be around Rs. 500-600 mn which will be funded largely by internal accruals. Further, with improved working capital cycle has led to healthy Debt/ Equity for the Company Thus, on the valuation front, at CMP Rs.230.2 , the company is trading at a P/E...