Results were decent.
Jagran’s recent performance has been quite disappointing, I think it has something to do with promoter family issues but I dont have any insights. For now, I have kept both DB Corp and Jagran, but have been slowly selling shares in both over the past few months. Its crazy that I have made 2.5x in a basket of newspaper cos in less than 2.5 years!
They continue investing in growth and I still feel bullish, maybe a little bit less now as price has close to doubled since I bought. I feel their business is quite unique and can get high valuations if they scale profitably.
Gufic is largely a play on hospital sector growth in India, as more than half of their business comes from supplies to hospitals. Nowadays, there are very few pharma cos that are growing sales at 18-20% rates, while maintain strong unit economics. These narratives around botox is just for entertainment, it doesn’t drive any real business value at the current scale.
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