PLEASE FIND THE PERFORMANCE NOTE FOR Q4 FY 24. DOWNLOAD FROM THIS LINK.

THIS IS JUST FOR EDUCATIONAL PURPOSE.

DISCLAIMER: I AM NOT SEBI REGISTERED RESEARCH ANALYST/ ADVISOR.

Dear, any information about the above case?

Competitor here is more DMart, Reliance Smart and Star Bazaar and not Spencer Retail.

Take it light, slow, patience is rewarded, fomo is not worth the fear, you might miss 100 good opportunities but 1-2 are sufficient if you can get right. Getting to these 1-2 might take some yrs, dont think think you will get them as soon as you enter the market.

Having a goal to do 7 fig is great but try for more % wise approach, in the end after some time in market whether 5/10/15 yrs most will realize that 25% is what you should strive for, try to achieve more but 25% is superb score to have you double your money in 3yrs doing that.

**Don’t get aggressive with specific numbers to achieve be in a holistic and flow approach.

Protect your capital, **

have high conviction when you have one,

If conviction goes wrong, question your conviction no one is always right, dont be hell bent on it

Most of the times think that market is right and you are wrong.

Lastly, there might / definitely be people who have done opposite of everything written above and have been really successful doing so. Everyone in the end develops a approach of their own mostly.These are mainly things I have learnt either from my mistakes or time spent in the markets.

The overall results seems to be pretty good, if viewed from the long term perspective. The best part about these March 2024 quarter results is that they prove that the results of the previous quarter December 2023 were not a one time fluke. The sales of March 2024 quarter are almost the same as the December 2023 quarter, but due to increased Employee benefits expense, the profits are a little less. The increased Employee benefits expense (Almost 60% increase) from December 2023 quarter is a huge positive sign for the upcoming quarters. Year on Year, the results are simply tremendous. When all of the Big IT companies across the world are firing their employees, this small IT company is hiring aggressively.

The opening of a branch office in Canada is a huge positive sign. The declaration of no dividend is somewhat negative. But the company is in an infant growth stage and it may be requiring cash for exploring new markets and clients. In a nutshell, the company has recovered from a period of 6-7 years of negative returns and degrowth to a higher orbit of growth with a very good chance of multi year growth ahead of it. It has a track record of becoming a 50 to 100 bagger, a couple of times earlier in its history.

So my personal thesis for investing in this stock is intact, that over a period of 4-5 years it EPS can grow to anywhere between 40-100 and in a bull market for a growing company, the rerated PE can reach anywhere between 50-100 (before this quarters result, the PE of this stock anyway reached approximately 63 on an TTM EPS of Rs 4.8 till December 2023). Even many other payment and fintech companies like NPST and Trust Fintech have PEs in excess of 100-120.

Hence I am still a long term investor in this company until and unless I get a serious red flag, on which I can easily sell my entire holding. Hoping for the best for this exciting fast growing company and mega multibagger returns for myself.

Disclosure: Invested in this company since almost one year for the very long term. My initial buying price is in the 30s. I will sell in an instant in case of some serious red flags. My calculations can be wrong. I am not a SEBI registered advisor. Please take anything I say with a pinch of salt. This is not a buy or sell recommendation. I have contract notes to prove my point.

Amit Goyal