I am not very ambitious on returns. My buy price (after accounting for splits/bonuses…) is about Rs. 17. Does 20X in 15 years count for a return?

Biocon tries too many things, it appears to be aggressive at times and very defensive at times.
Aggressive: developing new drugs (though with partnerships, licensing…), trying to be an innovator
Defensive: When they enter service space (with assured margins) that affects their product business
Too active: Buys a business from its customer, sells something else…

Pretty complex to analyse. Only concern is “outsized influence of the promoter, who is past the prime, on the business”

Mangalam Organics has become increasingly difficult to track as it doesn’t do con-call and is highly illiquid (made worse by SEBI ASM frameworks) as well. If i recall, it had done large capex few quarters ago. There may be lag between commodity price increase and company earning due to multiple factors e.g. low priced finished goods inventory still in the channel esp. for B2C players, existing price contracts for B2B sales wherein price hike may take few qtrs to come into effect, presence of high cost RM inventory hence subdued margins, loss of market share etc. Most of these reasons may be theoretical as lack of con-calls means these would be our best guesses. Some buying by promoters and impact of capex done in 2022, may indicate positive outlook for the company esp. if camphor prices remain firm. Q1FY25 results too indicate some increase in inventory so their liquidation at increased prices too can give EPS a leg up.

According to this article, only Tata motors spokesperson, PWC, Citi and Axis capital, all funded by Tata motors, feel it is fair deal

The article says otherwise with these points…

1. The retail investors and mutual funds are set to get a raw deal in the proposed conversion of Tata Motors DVR (differential voting rights) to ordinary shares.

2. The public DVR holders and mutual funds will lose about ₹15,568 crore and ₹3,000 crore of economic value, while the promoters will gain 1.4 per cent economic share valued at about ₹5,000 crore, per the April 18 closing price.

3. Post conversion, the promoters holding in Tata Motors will increase to 42.62 per cent from 41.23 per cent, while that of public will slip to 57.38 per cent from 58.77 per cent.

4. Both type of shares have equal economic right and after accepting that DVRs have traded at sharp discount due to absence of proper market, the company has taken the market approach to ascertain higher weightage for ordinary shares, said Sivakumar R, a retail investor.

5. Globally, the shares with reduced or no voting rights trade at premium or about the same price to ordinary shares. For instance, the class C shares of Alphabet (Google) with no voting rights trades at a premium to ordinary shares.

Anyway it is not very intelligent to cry over spilt milk. This is just a lesson learnt that Tata group is no Saint either.

Used India bonds (not to be mixed with bonds India) often. You make the payment directly to the India clearing corporation by RTGS and hence there is no safety concern (in the sense, there is no payment to India bonds).

India bonds gives a clear quote, deal sheet and once you approve, and make the payment, the bond will be in your Demat by End of day. (this is assuming that you did your KYC before).

The best part of the India bonds site is the portfolio view, cash flow and maturity view of all the bonds you have purchased through them (and they have a feature, wherein you can import purchases from others too). If you need any more info, please DM me.
PS – the safety of the bond itself is not subject to , where from you are purchasing from. I am NOT recommending anything but giving my experience

Hi Saket, are you tracking mangalam organics? Camphor prices are on uptrend since this year and B2C is in effect since some time back but Q1FY25 nos are nothing to cheer about, why would this be? Any thoughts on this? thanks