Q3FY2024:

• Highest ever EBITDA and Net Profit

• Order Book of 24,000 Cr (79% is EV)

• Added 5 new EV Programs and 2 new EV customers.

  

• Now have 53 EV programs across 30 unique customers.

• The Company faced the following challenges

  • Off highway market weak (particularly in India) – effected sales of differential gears and differential assemblies
  • Weakness in two wheeler traction motors in India- this is expected to continue for a few months
  • Red Sea crisis
  • There was strike in US as well, which led to revenue loss of 25 crore

• In 2023, the company has increased its global market share in both differential gears and starter motors.

“We are certain that electrification will continue to drive strong growth for us non the immediate, in the medium as well as the long term”.

Outlook on india

Disclosure: Invested

For every 100 shares someone held in ICICI Securities, they would get 67 shares of ICICI Bank instead

wont look into stock price , only on Growth and ROCE.

Check out Zen Technologies as well. It’s in defence tech. 2x sales growth guided for the next FY and 50% CAGR growth for the next 2-3 years. Price in a slightly rising accumulation channel for the last 6+ months. It’s 10% of my portfolio at 953 average price.

Portfolio update

Current portfolio

1. Senco Gold Ltd
   They are focusing on eastern and northern parts of the country for expansion. They soft launched SENNES brand for lab-grown diamond jewellery and leather accessories in few stores in Kolkata. The growth should be in the range of 15 to 20% for the foreseeable future.

2. E2E Networks Ltd
   The company provides Cloud computing services. It is focused on AI/ML workloads and aims to provide cost-effective solutions compared to global hyperscale Cloud players. E2E focuses on start-ups and the MSE segment. It has run up a lot last year so I am increasing my holding slowly in this.

I have shifted some companies to my family portfolio.

Family portfolio:
Central Depository Services Limited
Senco Gold Ltd
Indian Renewable Energy Development Agency Ltd
Inox India Limited
Bajel Projects Limited
KP Green Engineering Ltd

KP Green Engineering Ltd manufactures fabricated and hot-dip galvanized steel products. It is part of the KP group. This was acquired through IPO and not planning to hold for long.

Mistakes I made this year:

1. Panic selling and buying
   This has led to an increase in tax amount.
2. Low conviction bets
   This was the reason for panic selling.

I will try to hold companies for longer duration in the next financial year. I am studying some industries for diversification also.