@Imhilli quite a tricky question to answer especially in the early days of listing when a lot of plays happen.
Fundamentally, if we look at peers, Innokaiz’s margins seem extremely low..their earnings seem to be in line with Vertoz advertising who earned more profit with 1/4th of Innokaiz’s revenue… it’s not an absolute like for like comparison as Vertoz operations are primarily from US and Europe, hence higher margins and PE warranted.At best, I think it may stabilise around 100-110 for Innokaiz but then they’ll have to work hard to get the margins and earnings higher to be comparable to others in the market.. see snapshots below.
That said, it’s still early days so price may revive
Again a bit before dipping back again..Just my two cents..