I agree, but as an investor in 20 companies, it is quite draining and not fruitful to dive into such details. Maybe for an SME or Microcap you can do that to identify corporate governance issues, but no need to worry about a PSU like IREDA with top quality management.
As I mentioned, in the start of the credit cycle the loans are dispersed quite freely, and initially NPA’s are low. When the non payment begins (At the end of the credit cycle), it would be wise to get out of all PSU.
In IREDA, I am tracking Earnings Growth and Valuations.
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