As far as l know, single malt must be 3 years old to get that tag in UK.i also know that in warm weather of the tropics, aging is faster
And it takes 1 year instead of 3 to get the same effect. So this talk of 5-7 years is somewhat confusing. But in the interview, he also said that the capacity expansion for indri comes online in October. So probably it’s better to wait till the presentation comes out.
Regarding the question of conviction. I am pretty convinced that even at this price it’s cheap considering its plans and growth potential. Even if the eps stays flat for next 3 quarters the Eps per year would be 16Rs and that means the company is trading at 35 PE. Just read this thread from the start and see how the management has executed a long term plan since 2016.
In my case, i bought it around 40 Rs and invested 2% of portfolio. I have already sold some before Q3. So effectively I have invested X, taken out 2X and still have 12X left in portfolio. When I bought it ,’it was selling only about 100 casks of indri and winning awards. Picture is much clearer now and I do not intend to sell anymore anytime soon.

Bajaj Consumer –

Q3 FY 24 and concall and results summary –

Sales – 239 vs 230 cr
Gross margins @ 53 pc ( flat YoY )
EBITDA – 36 vs 32 cr ( margins @ 15 vs 14 pc )
Other income – 11 vs 10 cr
PAT – 36 vs 33 cr

Segment wise sales break up –

Almond Drops Hair oil @ 81 pc of company sales
Grew volumes in mid-single digits, flat value growth

Other Products @ 19 pc of company sales
Reported a value growth of 35 pc in Q3 and 25 pc in 9M FY 24

Urban demand continues to be better than rural demand

International business grew by 30 pc in 9M FY 24. Africa grew by 22 pc, Nepal grew by 27 pc, RoW ( US, Canada, Malaysia ) grew by 61 pc in Q3 FY 24

Have launched brand extensions of Almond Drops in other categories like – Soap, Shampoo, Conditioner, Body lotion – on E-comm and modern trade. Seeing promising response

Continue with the distribution expansion of Bajaj Coconut oil – driving volume growth

Launched Bajaj Gulab Jal in Q3

Expecting that the International business should sustain high growth rates in near future. International business now contributes to > 5 pc of sales vs 2 pc of sales 18 – 24 months back

Aim to keep EBITDA margins in the range of 16-18 pc range for near future

Have been very selective wrt selecting distributors in the GCC and North African countries

The new products that company launches have GMs in the range of 45-50 pc ( barring a few exceptions )

A new product is considered successful, if it is able to reach 50 cr/yr kind of sales after 3 yrs of launch. Company invests aggressively behind brands that are likely to achieve these numbers. If a product is not tracking well enough to reach this scale, the company drops that product. Coconut Oil is one of the product that’s likely to reach 50 cr / yr kind of run-rate. Some of the new serums / lotions are also doing well

Company did an additional 8 cr secondary sales over their primary sales ( as a part of inventory correction ). Otherwise, topline would have grown by an additional 3 pc or so

Disc: not holding, not SEBI registered, only for educational purposes

Some background on the siphoning of funds at LEEL…
Lloyd cooked the books? (finshots.in)

The article mentions SEBI’s final order which was published 6 days back and is available at
SEBI | Final Order in the matter of LEEL Electricals Ltd.

From the SEBI order

Summary-
a)No commercials, just films: PVR Inox adopts ad-free movies amid declining theatre footfalls.
b)Cutting down the length of the ads slotted before a movie begins on the big screen from 35 minutes to 10 minutes, the company is looking to add extra shows.
c) This new product by PVR Inox has been launched across 40 luxury properties of the multiplex chain in Delhi, Mumbai, Bengaluru, among others, effective from April 1.

Seems 1Q FY2025 is going to be affected due to poor performance of Bollywood movies, ongoing IPL season and lack of Hollywood content.

Disclosure- Not invested

I don’t like QoQ degrowth for such a small co that’s opened more stores during Q3. Idk. Anyways.

D – Exited at 580 levels.