Q2- 2023-Investor presentation

1…Inflationary concerns and rising interest rate have slightly
impacted the demand for mid and lower priced offerings

2…Integrated marketing spearheaded by vibrant IPL campaign
further boosted brand recognition and appeal

3…Expanded our reach in the Indian tiles market, with plans to expand the
network further

4…Marketing Initiatives
 Hindware partnered with two IPL teams Royal Challengers Bangalore & Punjab Kings for this IPL season
 Launched “5 star Hotel like Bathroom” campaign featuring players from RCB & Punjab Kings
 360 degree campaign was launched on TV, OTT, Digital, Radio & BTL activations
 179M impressions were served during the campaign with a reach of 45M
 The website traffic during the IPL season was twice the normal traffic

5…TRUFLOW
= We continue our momentum towards achieving higher market share despite slight headwinds in
Q1 on account of lower demand and reduced input prices

 Diversified into PTMT Faucets and Accessories to offer comprehensive plumbing solutions for
customers’ needs

 Exclusive collaboration up with RWC Reliance Worldwide Corporation to launch Truflo Sharkbite,
a range of innovative multilayer composite pipes and fittings

 Establishing a new manufacturing facility in Roorkee, Uttarakhand, and construction of the facility
is underway

TRUFLO by Hindware, is the fastest growing plastic pipes and fittings
brand in India
o With 2000+ SKUs already being offered and many more being
added, TRUFLO aims to be amongst the top 5 CPVC players in
3 years
 In-house manufacturing for better efficiencies & end to end logistics
and supply chain control
 The Company offers CPVC pipes for hot and cold-water plumbing
applications, along with lead-free UPVC pipes, SWR pipes, PVC pipes
for potable water, column pipes and overhead water storage tanks

6…Successful launch of the Hintastica Private Limited (JV) line of heating
appliances at its state-of-the-art manufacturing facility in Jadcherla, Telangana,
is delivering as per expectations

Disc…invested

Interesting observations about Dividend Investing.

Investing in “Dividend Yield” funds will also have some other points:
(1) Though an investor will save Dividend Tax and that will help growth in NAV, if you need regular passive income, then you need to have SWP or profit booking and then pay the tax on Capital Gains. But still it will be less than nominal tax rate.
The drawback is that, the NAV may fall by 20%-30% routinely due to market volatility, and your passive income will get impacted.
If you are not investing for regular passive income, then it looks fine.
(2) For those investors looking for regular passive income, paying tax on Dividend Income should be all right. Anyway, you are paying income tax on your other regular incomes from FD, Salaries, and other sources of income which might be dependent on your tax bracket.

I think, it is more to do with the individual requirements of regular passive income and personal choices.

INVESTOR CONCAL : Q1 FY 24 CENTURY PLYBOARD LTD

Results for all my portfolio stocks are out. Winners are Polycab, APL Apollo, PI industries, Ethos and Varun Beverages. Whereas Deepak Nitrite and Granules India reported terrible results. As a result I sold Deepak Nitrite with 6X gain after holding it for almost 4 yrs. I have also sold CarTrade at a 45% loss.

Meanwhile I keep on investing the proceeding in Zomato (after their first profitable quarter), CCL Products (ideal compounder), Bajaj Finance (no idea why it’s not performing, anyways I keep on buying:)), Mold-Tek packaging (typical 18-20% grower) and Vaibhav Global (my thesis is that as money is more valuable due to inflation in western economies so buyers will look for value for each dollar and here low cost producer like VGL will have upper hand). Overall I have now 24 stocks in my India portfolio with 8 multibaggers as of now.

Since the last update Polycab became 3.5X to 5X, PI industries became 5X to 6X, VGL became 3X to 4X. If everything goes well then I expect Ethos (up 57%), APL Apollo (up 70%) and Mas Financial (up 58%) to be new multibaggers (my definition of multibaggers is 2X in 3 years of initial buying) in my portfolio. Fingers crossed:)

In the India portfolio, I am experiencing NVIDIA-like euphoric gains in Polycab and other building material stocks post their result announcement. Magnitude of the earning beat for Polycab is similar to the earning beat of NVIDIA in last quarter. This is interesting. The US being a developed economy generates demand for AI chips (Pick and Shovel play in AI war) to increase productivity and hence GDP… Whereas India being an emerging economy needs more roads , constructions, infrastructures and hence generates similar demand in the building material sector (Again Picks and Shovels play in the construction segment) to make progress in its GDP. IMO, unlike the US, in India I am not trying to look for next AI winners to make money in the long term, real money is being made in the building material segment as these two economies are standing in different junctures and as a result showing Animal Spirits in completely different segments.

Portfolio 5 yrs return 19.1%

Portfolio 3 yrs return 29.7%

Portfolio 1 yr return 12.1%

Disc. This is not a buy/sell recommendation. Biased as invested in all stocks discussed above. Not a SEBI registered advisor.

INVESTOR CONCAL : Q1 FY 24 Power Grid Corporation of India Ltd