Hospitals have entered in my ‘Investible Universe’ once I could see “proof” of high ROCE in numbers. Off-course, there are many smart investors who were invested since last 3-4 years and they were rewarded with handsome returns for being ahead of the curve in terms of identifying the ‘change’ in the ROCE profile. Playing for a ‘change’ is not my forte as I am not confident of successfully executing it repeatedly in future. Infact, it may give me success in one/two of odd ideas setting up a ‘honeytrap’ for capital loss in future. Thats why I prefer to play for longevity once the business model is proven ( ‘proven’ in my perception )
I am finding increasing confidence in terms of sustainability of high ROCE business model for Hospitals
I am currently in the information gathering phase. I found following video series very useful, especially episodes – 4, 5 and 6
Next step is building investment thesis. At the same time i am also thinking for an educational purpose if I have 20,000 cr and i have to buy only one business among three for 100% stake, which one I will buy – branded pharma – ajanta pharma, hospitals – narayana health or diagnostic – dr lal path labs
Thank you
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