I usually look at new positions super Investors take and see what % of their portfolio it is.

NOTE : “High Conviction bets” as Mr. Pabrai says, can be a double edged sword.

I whet them according to what I understand and what I can relate to knowing what I know.

Some of the ideas just get dropped because I don’t see why it makes sense, some get dropped because of time constraints.

Something I can understand is eventually my litmus test, not that I understand many industries well but yeh that’s how I do it.

Also, I’m happy to take smaller positions in things I don’t understand and learn along the way. If the stock is doing well and there are fundamentals to support it, I normally average up from there.

Results were not as expected.
I will not judge promoter by error in result, as I have never met, talked to them. Will give them benefit of doubt.
With recent correction stock is at 26 PE, With expectation of high growth ( how much, we need to figure out) for few years at least.
Concall will be good place to understand future.

D: Invested

Interesting… They need license like netmed or 1mg, I don’t think there is any challanges. But TAM may not be very attractive and SKU may be too high.

In general online selling of medicine (pharmeasy like) is not that succesful vs general online selling (Like flipkart), the reason is proximity, medicine is availble nearby store and those are plenty.

Best selling items for Amazon / flipkart are: Clothings, Fashion items, Wall decoration etc. Whereas Q com sells most like condoms, banana etc. With that mindset, medicine will be Q comm target areas.
Interesting to think more…

Hi @Investor_No_1 ,

I see that you initially had sold Max India and now again you have a small position in it. Would you be kind enough to share your thesis for re-entering?

From CRISIL Ratings report dated 30-Apr-2024:

1. The group has established its position pan-India as a market leader in the ramming mass manufacturing segment, with superior product quality resulting in higher-than-average realizations.
2. The group exports to over 30 countries with volume growth of 19 % in fiscal 2024
3. The group expanded its production capacity to 2,88,000 MT per annum from 1,80,000 MT per annum in October 2023.
4. Return on capital employed was estimated at 26 % in fiscal 2024 on the back of high economies of scale. Operating margin was also steady and is likely above 28-29 % in fiscal 2024
5. Limited external debt
6. No major capex expected over the medium term
7. Despite expectation of volumetric growth of 5-6 % in fiscal 2024, turnover was estimated to be slightly lower at Rs 125-130 crore compared to Rs. 137.4 crore in fiscal 2023 due to lower freight revenue
8. Competition from a large number of unorganized players in the industry