There is Sharia Index and many investors connect with the idea of ethics and investment for e.g. see below. I dont find the idea against Bharat but just a personal choice.

From sptulsian see below

https://www.sptulsian.com/f/cf/the-need-for-a-jain-index-

I am not trying to find holes here. I know it’s commendable how the company is growing and that combined with margins expanding makes it a great stock available at good valuation. But I can’t just ignore what I see and not try to understand the reason behind it.

To elaborate, look at the stand-alone financial statement. The sales for the first half were 379 crores while the receivables increased by 140 crores (from 88 to 228). Now I know that company is doing some B2G business which even the management said was the reason for the rise in receivables. But if almost half of your sales are on credit, that certainly calls for the explanation regarding when will the company actually receive payments for these. Because what I see that the receivables number both at standalone and consolidated basis has been increasing.

If anyone knows more about what might be the reason for this, please feel free to clear the doubt. I am just trying to understand every aspect of it as that is what helps you build the conviction required for a meaningful capital allocation.

I also bet on International Conveyors looking at the results which just came out. Even with lower revenues, the company managed to increase MARGINS, which tells me that they have a pricing upper hand.

Also, the business is niche and possibly cyclical in nature. Mines which are restarting or mines which need upgrades, would require new conveyor belts.

Interestingly, the public holding is kinda coming down, which is a GOOD thing.

Forward PE of 5, means there is a good valuation comfort as well.

The headline is wrong.

This should be called Anti-Investments.