I would agree on mostly everything else, but this. I think its ulta.
Market is being cautious about this stock, and only factoring in what has happened in last quarter. Market is playing it quarter to quarter.
Reason: Retail lending is a slippery slope. NPA can spike. Many a bank has taken a hit. List is long.
Lately, i have been observing the energy with which VV sir appears on LinkedIN videos, and conf speeches. Also a flag.
Hi Inv and Rich,
I do not have a close understanding of the retail sector, or a specific stock like Rich does. I am a generalist when it comes to investments. And hence I stand a bigger chance to be wrong. From that vantage point, I prefer to stay in stocks that are disruptors, have longevity, and preferably a head-start.
Nykaa has longevity, its TAM is increasing. Cuz the management is constantly exploring, investing in growth. And it has a head-start. The next in competition is Purple, and it is 1/10 in revenues. Nykaa also has another special advantage of premiumization. Its products are NOT sold as commodities, but more like luxury. Moreover, i like to see Nykaa as a tech company, with last mile delivery capabilities. That puts them far ahead in the race of beauty and self care vis-a-vis the traditional distribution model. So yes they are disruptors. And in a market as big as ours a disruptor, a tech company, while selling widely established luxury products is in my opinion extraordinary.
Under the same theme I am invested in Dmart, Idfc First Bank. (Disruptors, Tech enabled, Proven TAM)
All three of them, have a headstart in disrupting an established model which reaches the entire nation full of people. That, I think, gives me a big advantage. I know, their products are going to be in demand, market is established, and these guys are good at aggregating the demand via tech.
My theory will start losing validation if their growth drops below 15% CAGR. I have paid a high multiple, have done nothing smart on that front. I wish I could find stocks at 15PE and hold them till 45.
Campus, Metro have been around for decades, nothing new there. I have not studied them, therefore, I cannot say for sure whether they are doing something unique. And the reason for this lack of interest is because I have my investments taken care of.
Vedant Fashion appears good. But, nothing extraordinary in my uneducated opinion. I will just have to second richz on this one too. I dont exactly see a sustained moat.
Hi Inv and Rich,
I do not have a close understanding of the retail sector, or a specific stock like Rich does. I am a generalist when it comes to investments. And hence I stand a bigger chance to be wrong. From that vantage point, I prefer to stay in stocks that are disruptors, have longevity, and preferably a head-start.
Nykaa has longevity, its TAM is increasing. Cuz the management is constantly exploring, investing in growth. And it has a head-start. The next in competition is Purple, and it is 1/10 in revenues. Nykaa also has another special advantage of premiumization. Its products are NOT sold as commodities, but more like luxury. Moreover, i like to see Nykaa as a tech company, with last mile delivery capabilities. That puts them far ahead in the race of beauty and self care vis-a-vis the traditional distribution model. So yes they are disruptors. And in a market as big as ours a disruptor, a tech company, while selling widely established luxury products is in my opinion extraordinary.
Under the same theme I am invested in Dmart, Idfc First Bank. (Disruptors, Tech enabled, Proven TAM)
All three of them, have a headstart in disrupting an established model which reaches the entire nation full of people. That, I think, gives me a big advantage. I know, their products are going to be in demand, market is established, and these guys are good at aggregating the demand via tech.
My theory will start losing validation if their growth drops below 15% CAGR. I have paid a high multiple, have done nothing smart on that front. I wish I could find stocks at 15PE and hold them till 45.
Campus, Metro have been around for decades, nothing new there. I have not studied them, therefore, I cannot say for sure whether they are doing something unique. And the reason for this lack of interest is because I have my investments taken care of.
Vedant Fashion appears good. But, nothing extraordinary in my uneducated opinion. I will just have to second richz on this one too. I dont exactly see a sustained moat.
AR22 notes
Disclosure: Not invested (no transactions in last-30 days)
My view would be avoiding over allocation to any one stock. Many times our direct stock portfolio comprises the same stocks as our mutual fund portfolio, so diversification is very less. Now I practice few easy steps to avoid this overlapping -
Invest 40% in either a Large cap or an ETF which gives enough exposure to major stocks like Banks, Reliance, etc.
Invest 40%, divided between a Midcap,Smallcap Fund and 10% Debt mutual fund.
3)This is a bit difficult step and might contradict with my thesis of overlapping. Sometimes we come across companies which have greater prospects of growing. Their Earnings growth and Stock performance is better than the market, but in our mutual funds we cannot decide the allocation of our funds, hence we might miss on these opportunities. So the remaining 20% consists of direct stocks which you have conviction on. This might overlap with mutual fund investments but they will only generate an alpha over your mutual fund returns.
Hope this helps
13.09.2022 (ET interview)
In agchem, Europe exposure is <5%, most exposure is to Asia, Latin America and USA
In pigment division, Europe exposure is 10-12%
Dahej multi-purpose plant will get commissioned in Q3 and is in discussion with a MNC client for supplies from this plant (capex of 350 cr.). Contribution will start from Q4 and expect 600 cr.+ topline contribution in FY24
Expect growth rate of 20%+ in next 3-4 years
Logistics costs have softened, will see 2-2.5% contraction in EBITDA margins
Expect 22%+ EBITDA margins in titanium dioxide (expect pigment division margins to increase from 12% to 15% with ramp up in titanium dioxide capacity)
Disclosure: Not invested (no transactions in last-30 days)
I attended their AGM and am sharing my notes.
Q. How does the fish meal economics work? For 1 ton of fishmeal what are the raw material required?
Q. One of the major raw materials which is frozen tachiuo surimi (fish paste) lepturacanthus savala is being sold by group company called Amarsagar Seafood Pvt Ltd. Are there other group companies involved in the same business? If yes, are there plans to bring everything together in the listed company?
Q. 86 lakhs capex in FY22, what was it for?
Miscellaneous
Disclosure: Not invested (no transactions in last-30 days)
Profit growth in my opinion is going to be much more than what you have assumed on account of replacement of high cost legacy borrowing , reduction in operating cost and profit from credit card business in additio to normal growth of banking business. I do not know about the share price ,but company is going to do very well in next 4 to 5 years
Profit growth in my opinion is going to be much more than what you have assumed on account of replacement of high cost legacy borrowing , reduction in operating cost and profit from credit card business in additio to normal growth of banking business. I do not know about the share price ,but company is going to do very well in next 4 to 5 years
Hi -
I have looked at all of them but I did not want any more retail/ apparel exposure in my portfolio, so did not seriously consider. The below are my cursory thoughts.
Disclosure: Not invested in C,V, M, T, R but in N, P.