I have also thought in similar lines as you. Defence cashflow comes late after a war but defence ancillaries cashflow is even further late. Just there are some conditions. Need cheap defence ancillaries. So select those below p/b of 7. Example MIDHANI. I have invested in it but would now prefer reducing exposure and diversifying. Now there is a tailwind in aerospace sector also. So defence ancillaries + aerospace. By that logic we get AXICADES, CYIENT, Apollo Microsystems and Dynamatic technologies. I also have fresh position in Automative axles but it does very little defence and no aerospace. All stocks below 7 p/b.
I had done a similar analysis for paint ancillaries as there was a new paint war going to start. Also Asian paints management has gotten arrogant. I identified 3 companies. Atul chemicals, Mangalam organic and 20 micron. If which since 20 micron is small corporation I avoided it and I brought lot of Atul and less Mangalam. A very very big mistake. Both 20 micron and Mangalam are 100% up but Atul is only 30% up. I don’t recommend these paint ancillaries stocks right now to anyone. But this strategy of selling spades to gold diggers or weapons during a war always works. I lack experience or I would have done it will electric car ancillaries. Maybe even now money can be made in electric battery chemicals. I have a lot of experience for next bull run. Only God knows when will that come. Next year is definitely a bear market so please invest with care. Also Sir checked you’re profile you have invested all corpus in Equity!! Sir please for Lord Shiva’s sake liquidate corpus and buy gold, silver ETF with 25% of it. Especially do this after next year April end. 
Warning : I am not Sebi registered Investment advisor. No buy sell recommendation. It’s only out of care for senior people.
Posts in category Value Pickr
Investment in the ancillaries, or ancillaries of ancillaries-vendors of famous companies (07-09-2024)
MSTC Ltd.: Growth through to E-Commerce (07-09-2024)
Extract of Annual Report 2024 :
SOME OF THE MAJOR OPPORTUNITIES MSTC IS PURSUING:
1.The recent initiative of the Government for sale of mineral blocks, both major and minor, through e-auction has also opened window of opportunity for MSTC and it has signed agreement with most of the State Governments which may
yield positive results to the revenue of MSTC.
2.MSTC is exploring e-auction of sand mining block in other states in line with Uttar Pradesh model.
3.The successful portals for EXIM products for IOCL and ONGC has paved way for development of such portal for other OMC’s both public and private.
4.Circular Economy: MSTC is exploring new areas of business in recycling sector like ferrous material/ Aircraft / e-Waste / Textile Recycling/ Other Hazardous Waste, etc.
5.Efforts towards R&D: We are in the process of framing Start-up policy for onboarding start-up companies for R&D as well as utilising emerging technologies / opportunities.
MSTC has been conducting regular auction for moveable and immovable assets as NPAs for Government as well as private companies. Looking forward MSTC intends to offer more upstream and down stream services with extensive use of latest technology.
MSTC is casting more focus on the untapped e-Commerce business from the private sector and in this context MSTC has signed big ticket agreements with Reliance Industries, Indus Tower, Tata Power, Vedanta, Jindal Power Ltd. etc. to name
a few
MSTC Ltd.: Growth through to E-Commerce (07-09-2024)
Extract of Annual Report 2024 :
SOME OF THE MAJOR OPPORTUNITIES MSTC IS PURSUING:
1.The recent initiative of the Government for sale of mineral blocks, both major and minor, through e-auction has also opened window of opportunity for MSTC and it has signed agreement with most of the State Governments which may
yield positive results to the revenue of MSTC.
2.MSTC is exploring e-auction of sand mining block in other states in line with Uttar Pradesh model.
3.The successful portals for EXIM products for IOCL and ONGC has paved way for development of such portal for other OMC’s both public and private.
4.Circular Economy: MSTC is exploring new areas of business in recycling sector like ferrous material/ Aircraft / e-Waste / Textile Recycling/ Other Hazardous Waste, etc.
5.Efforts towards R&D: We are in the process of framing Start-up policy for onboarding start-up companies for R&D as well as utilising emerging technologies / opportunities.
MSTC has been conducting regular auction for moveable and immovable assets as NPAs for Government as well as private companies. Looking forward MSTC intends to offer more upstream and down stream services with extensive use of latest technology.
MSTC is casting more focus on the untapped e-Commerce business from the private sector and in this context MSTC has signed big ticket agreements with Reliance Industries, Indus Tower, Tata Power, Vedanta, Jindal Power Ltd. etc. to name
a few
Addictive Learning Technology limited (LAWSIKHO) (07-09-2024)
The FY24 AR has a couple of interesting details regarding execution:
- Skill arbitrage now accounts for > 50% of the revenue.
SA scaleup has been brilliant.
| Year | 2023 | 2024 | H1FY25 |
|---|---|---|---|
| SA Revenue | 2.68 | 21.09 | |
| % of addictive revenue | 8% | 32% | > 50% |
- Management has mentioned multiple times that the sales team scale up is the crucial factor for the next year. The sales team size has increased by ~50%
| Month | Full time sales employees | sales consultants | Total |
|---|---|---|---|
| Oct 2023 | 80 | 106 | 186 |
| August 2024 | 36 | 248 | 284 |
Addictive Learning Technology limited (LAWSIKHO) (07-09-2024)
The FY24 AR has a couple of interesting details regarding execution:
- Skill arbitrage now accounts for > 50% of the revenue.
SA scaleup has been brilliant.
| Year | 2023 | 2024 | H1FY25 |
|---|---|---|---|
| SA Revenue | 2.68 | 21.09 | |
| % of addictive revenue | 8% | 32% | > 50% |
- Management has mentioned multiple times that the sales team scale up is the crucial factor for the next year. The sales team size has increased by ~50%
| Month | Full time sales employees | sales consultants | Total |
|---|---|---|---|
| Oct 2023 | 80 | 106 | 186 |
| August 2024 | 36 | 248 | 284 |
Pondy Oxide & Chemicals (07-09-2024)
Not a SINGLE SHARE sell by Promoter group.
Study SHP of last 1 year.
See larger view from here on.