Hi,
I have the following portfolio and a few of them are long-term holdings. I wish to reduce the number of stocks and it will be helpful to get your view on the portfolio and individual stocks. I am happy to get your questions as well. This way I will have better conviction and expectations about my portfolio.

A huge fan of @Worldlywiseinvestors @sahil_vi @harsh.beria93 and @hitesh2710 Sir. Have been reading their posts, approcahes and thoughts.

Company financial (Q1) looks good, order book sound too (recent NCERT order), however growth visibility is yet to be seen in investor PPT. Any info reg. comparative advantage wrt JK.

There is no update on the product approval from FSSAI, they said they are expecting in March quarter so far no update. And also Zume partnership looks like fizzled out.

On the paper everything looks good but when it comes to bottomline (PAT) or rewarding share holders (Dividend) not at par with JK.

There is no call this quarter ?

Results are not that bad according to me.

Eventually there new plant is operational. Their old plant was entirely backward integrated, with pulp capacity in hand. With new capacity, there are major fixed expenses to be borne by the company. This may decrease the margin. With utilization increasing operating leverage should be expected to kick in.

There is bit pressure on OPM level, which a eye raising point, however in coming quarter with increasing utilization margins should increase. While it will take time to have the integrated pulping facility for the new facility as well.

Eventually, depreciation expense has been increased 50% QoQ and 100% YoY. As utilization increases, gross margin improve (which might take a year or so considering the increasing spend on backward integration)

Other expense majorly include fuel expense, freight handling and packaging.