Looked at company's financial. Few concerns:

1. Debt is high. For net worth of 278 cr, debt is 317 cr.
2. Operaitng cash flow is negative since last three years.
3. Of total balance sheet size of 595 cr, net block is only 66 cr. Most of balance sheet is locked in current asset of 504 cr. Particularly glaring is 341 cr debtors, 115 cr inventories and 135 cr loans and advances.

Conclusion from above is company is not able to manage cash flow efficiently. So, even though turnover is increasing at good rate and valuation is reasonable, chances of nagative shock are high due to problemetic cash flow position.