My portfolio – Pratik

It has been a long time since I posted an update here although I have posted on company specific threads where I was invested or interested.

Following is the breakdown of the portfolio.

It remains more concentrated than what I would like but I have been trying to follow a strategy which involves very low churn and focused investing as well as exploration.

There are many names which I was invested in but have booked profits when they ran up significantly. Some of these names are still very good but just felt that valuations were discounting the positive hypothesis already.

1. Oriental Aromatics
   Well positioned small cap in niche segment. It was in sweet spot for some time and gave good returns but at some point they were running at full capacity utilization and new capex was going to take years. Price had ran up quite a lot. I booked my profits after some days of writing following post. Bought it at about 200 and sold at about 500. Frenzy continued after that also like it happens many times in small caps and stock went up to 1000 not too long after sold out but no regrets since we have to make logical decisions and it’s perfectly fine to leave some profits on the table. Today it’s at about 350. This is one good quality small cap. Management is expert in this niche segment and quite an established player. I will be definitely be interested in investing in it again at some point.

2. Black Rose
   Again a niche player with decades of experience in trading and distribution that got my attention when they were commissioning new manufacturing plant. It looked very much probable that their entire new capacity will be fully utilized almost immediately. It was also an import substitution product. I booked profit when significant new capacity was expected from SNF.

3. Madhya Bharat Agro Ltd.
   My first big multibagger It was a microcap so my position was small. But good run up in price made the needle move at portfolio level because it went up 7x very quickly and I booked profit at those level after which it doubled but again I have no regrets cause I would happily see it go up further than regret losing all gains. Many things can go south in microcap and such a run in short time should only be considered a pure draw of luck because I would have never predicted it. So count the blessings and book the profits. Small investor like myself have little to no visibility in such microcaps so it’s very hard to build conviction here.