All my portfolio companies declared earning results for the third quarter. After a long time I did not need to make any changes to my portfolio companies based on earning results. All except Mold-Tek reported year over year revenue and earning growth in the latest quarter. I am not selling Mold-tek as management has secured a patent on the technology and production will start for pharma companies in the coming quarter. If possible I will add more when the price consolidates.
After declaring poor results in the previous quarter, Granules India’s stock price appreciated a lot with so-so result declared in the latest quarter. In fact it became 3X to 4.5X due to a massive run up in stock price in the last 3 months. Another winner in my portfolio is Ethos which keeps on reporting double digit earnings and revenue growth and as a result stock price doubled in less than 14 months. I started buying Zomato in the 60s and kept on buying till the 90s. It nicely mimics the result and stock price movement of DoorDash listed in the US stock exchange. Other winners are Varun Beverage. APL Apollo and MAS financial. All these companies are on the verge of entering the multibagger list of my portfolio companies.
As the Indian market is hitting new highs, my portfolio has reached a new high. Not sure how long this dream run will continue. At present all my portfolio companies are in green and at least giving 25% return with 9 multibaggers. I experienced a similar boost in my US portfolio during the 20-21 bull market. But it just took less than a couple of months to reverse all the gains due to inflation and recession risk in the 22-23 bear market. I am yet to recoup all my losses in the US market even after a couple of years sticking with the same set of companies. US Small and Mid cap indices are still down more than 25% from all time high. It seems easy to make money now in the Indian market but it’s equally difficult to make money in the US market. I am not sure if the broader Indian market may also experience similar difficulty in the not so distant future. This conflicting prior experience from two different markets keeps me grounded and cautious while investing new money in the Indian direct equities at an all time high. I hope this dream run in the Indian market continues forever and makes all of us wealthy in the long run:)
Portfolio 5 yrs return 19.7%
Portfolio 3 yrs return 27.3%
Portfolio 1 yr return 15.9%
Disc. This is not a buy/sell recommendation. Biased as invested in all stocks discussed above. Not a SEBI registered advisor.
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