How has the company performed across cycles like during demon, covid? How was their asset quality in times of stress vs industry?

Fantastic results by Senco( highest allocation) A YoY growth of 38% is impressive. What I really like is that SSSG is the backbone of growth instead of store additions like Kalyan. This allows operating leverage to come into play. I had assumed a FY24 growth of 25% but I think its around 28%(not very sure)
However, it helps to keep a conservative model as there is an inherent margin of safety to it.

I have a theory and i beleive this holds true for Yes bank, since yes bank saga has already occured, everyone’s eyes are on yes bank so the next saga wouldn’t be under Yes Bank because it has caught the attraction of every stakeholder and people are very conservative about yes bank so even if a leaf of any wrong happening blows in yes bank it will come to everyone’s eyes immediately because people are looking so closely at Yes bank without blinking their eyes, so I beleive next Yes bank saga wouldn’t happen in Yes bank. “It’s something like police keeping an eye on older thieves but the stealer is someone new”

And this doesn’t mean that everything has been fixed in this bank, there are lot of things yet to get fixed, like their consumer side mobile banking app sucks despite the fact that they are the technology providers to many fintechs.

Good to compare but the style of investment varies for both fund houses.ppaf is all of value investing and on other hand quant is of like momentum backed by statistics of data. Need to decide what kind of investment suits you and align with fund house to generate wealth

Inflame & Arihant Capital MarketsLtd | Bharat Connect Conference-Rising Stars 2024

Annapurna Swadish & Arihant Capital MarketsLtd | Bharat Connect Conference-Rising Stars 2024

Major points:

1. Both the Hyderabad and Panchkula plants are fully established from infra POV.
2. Have not been able to produce much from the Hyderabad plant per expectations, due to delays in getting customer approvals.
3. De-risking of business is being done with the help of expansion of product line and geographical expansion.
4. Govt. of India will go for BIS certification of hobs, electric chimneys, OTGs etc… Chinese personnel are not being given visas and none of the Chinese companies have any BIS certification on these products. BIS will be applicable from September 5, 2024 onward. Appliance glass will also come under purview of BIS, hence, appliances from Chinese suppliers will altogether be banned. Some brands are at the moment still importing Chinese products. Inflame will be the ultimate beneficiary of the BIS certification and subsequent ban on non-compliant products.
5. Have produced 4-5k OTGs for Havells. 18 models of OTGs launched.
6. Kaff is now a major buyer of hobs, and will show up in the revenue.
7. Chimney market growth rate is 15-16%. Majorly depends on new housing.
8. Major competitors – Faber, Elica and Glenn. They can give Inflame serious competition.
9. Per the presentation, all the components that go into their products have been developed and slowly and steadily Inflame will be reducing their dependence on Chinese suppliers, and will go indigenous. Reason is that the current set of components have been certified and proven in the previous crop of products manufactured and in use at present.