The big problem with Symphony has been Margin Compression.
This has happened because of inability of company pass on rise in costs, due to severe competition in domestic market.
Also growth has stagnated in international markets.

The only hope of light is recovery in volume growth in domestic market, with margins stabilizing. Also, recovery of demand in US Markets, will definitely help as this market has highest margins, which will reflect in March Quarter.

Allcargo logistics is planning to restructure further by separating the ECU business and merging the supplychain and contract logistics business including Gati. This is expected to be completed by Jan 25.

Allcargo restructuring.pdf (1.2 MB)

Thank you so much for bringing out the difference between process and outcome clearly. This same warren buffet approach is applied by Peter lynch too, where he used to invest in 1000 of stocks and those who do well , will remain in the portfolio. Its like in earlier periods, when new born deaths were more likely, people used to give birth to as many children as possible and then out of 15-20 children, may be 5-6 would survive, just like a portfolio.

On similar lines recently i curated a list of roughly 40 stocks out of Nifty 50, Nifty next 50, Midcap 150 and small cap 250 indices, so rougly 10% invest-worthy stocks, out of top 500 stocks on the basis of some well known criteria like non-psu, non-cyclical, no or very less debt, high promoter holding, high ROCE, high sales growth, profit growth etc. I would be thinking on same process-driven line, where I will be investing in these 40-45 companies and if they survive, they will become concentrated holdings of my portfolio in future and those who die natural death, they will go out of portfolio.

In bear markets when retails leave investing / the Euphoria is gone, will the P/E of Microcap and SME again go back to < 10 levels? Can the days come back when most small companies trade at P/S of < 4 ?

Will we ever get these risky Microcaps at decent valuation or has the viewpoint on SME & Microcap changed for a long time? With current valuation it seems that all of today’s microcap will be tomorrow’s Midcap. People have forgotten the advantages giant business have than these companies doing the same business in niche segment. Giants like large caps are going to take over the revenue just as Reliance did with Telecomm companies.

People are concerned about the valuation of PSU but the SME & Microcaps are the ones which need to get hit first.
Thoughts @vikasbargale ?

Update on this. 1st big client on DispatchOne (Part of OS1 platform) : https://www.bseindia.com/xml-data/corpfiling/AttachLive/70ef82dd-b2b0-4f49-8bda-39bc9384fc3a.pdf