Thank you so much sri krishna for your detailed analysis.
I would like to point out that salary drawn by Avik Duke is around 3570000 for FY 14-15 according to screenshot above which comes around 2,97,500.
It mentioned that major part of salary is due to profits .Does this mean around 5,00,000 rupees is his bonus for this year?
Results look decent and government is focussing more on naval surveilance after 26/11
any thoughts on this new venture with Apllo MINT
Hi Sunny,
Me too a newbie in the field of investing, I have learned only DCF using FCF & I think that makes clear sense to me. Since the abbreviation of DCF is Discounted Cash Flows and accural earnings can be fudged, we should use FCF only. For detailed explanation refer https://janav.wordpress.com/2014/10/12/accounting-for-value-1/
Regards,
Sunny Malhotra
How big is the size of oppurtunity? This is equally important. We have a mortgage to GDP ratio of abt 10%. Sometime back I read the scope is huge ie untill Ranbir Kapoor becomes dada. India has abt 6.5 l villages and abt 90% of them have a population of 2000 or less. I think the pie is big and with a sustainable long term GDP growth of 7%, it will only get bigger. Besides, both Gruh and Repco lend to salaried and non salaried low ticket clients. That for me is the moat. Not easily replicable. Specially the non salaried class.
Discl: Invested in Gruh and Repco
Consolidated TTM p/e is 20.55 according to screener
Why are you worrying about your portfolio. Your stock picks are absolutely fine and the price points are not very high except in few cases. There are only two stocks you need to think about but may not take any action immediately - SJVN and Gujarat Minerals. Give your portfolio some time - avg down on the stocks you have very high conviction and let the market rise. Everything else will take care itself.
Portfolio update -
Added more Axis Bank, Care Ratings and Delta corp to existing holdings in Yesterday's downfall. As expected market went into tail spin.
Valuations wise there is hardly any margin of safety in Havells India however when I look into the market cap of about 15000 crore only, the management credibility and ability and the huge opportunity they are staring it with a terrific story developing around it, the stock seems to be a screaming buy. This dichotomy is difficult to overcome for me when I saw an old video of Mr. Ramdeo Agarwal and took 30% positions of what I want to invest and will wait for further correction.
With a market cap of over 30000 crore and PE of almost 37-38 on trailing basis this still looks expensive. I find correction an excuse to bring it to may be normalized PE levels.
To my untrained eye EOD chart shows trend reversal with volume today. It would be nice if someone like @hitesh2710 or @ajit001 can give an opinion.
Disclosure :- I frequently make mistakes with charts. Do not base your trades on my analysis
