Sundaram Fin Hold cmp 150 Weely Log Charts
Crossing highs made in APR 2018
with High Weekly Vols last week

Mr RKD, Bright Star Invest ( DMART )
also holds 1.88 % Eq last many Years

Based on my information, SEBI is mandating that you can hold either RA or RIA registration at one time. So essentially, you cannot be both RA and RIA at the same time.

Be careful. As Sajal Kapoor sir says – Neuland has very lumpy business. And with such results,its making VERY HIGH BASE & HIGH EXPECTATIONS.
So maybe one should be careful while taking new entry and avoid falling prey for FOMO.

My Personal Opinion
Avergae Buying Price is 2500 and BIASED.
dr.vikas

Another very good quarter in terms of sales growth, no improvement in margins and management is clear that margins wont revive in next 4-5 quarters (atleast). I find it impressive that they have spent 225 cr. in last 3.5 years to pivot from B2B to a B2C model, and have somehow not blown up (yet). Concall notes below.

FY24Q2

• Expenditure on new ventures was 30.1 cr. in this quarter (vs 16 cr. in Q2FY23). These will keep margins under pressure
• Invested 225 cr. in last 3.5 years on B2C
• Shemaroo GEC channels have 7.4% of Hindi GEC viewership (vs 7% in FY24Q1)
• Advertising demand remains subdued due to sluggish consumer sentiment, slowdown in new age startup funding, and world cup taking up a large part of ad pie
• TV opportunity
  o Will take atleast 4-5 quarters to become cashflow positive
  o Very high operating leverage
  o Lower working capital cycle than syndication
  o Tier 2 GEC channels that are well established for 8-10 years do 400-800 cr. annual revenue with EBITDA margins of 25-50%
• Launched OTT in Indonesia via Excel
• GST case: related to ITC for FY18-20, deposited 12 cr. under protest (not expensed, but put under advance paid to government)
• Launched new DTH service (Bollywood Masala) with Bollywood 90s movies on Tata Play in September 2023 (finally something where they can use own library)
• Debt: 324 cr. (vs 341 cr. in June 2023 & 313 cr. in March 2023)
• Inventory: 738 cr. (vs 723 cr. in June 2023 & 735 cr. in March 2023)
• Digital revenue breakup (62.5 cr. down 2% YOY):
  o Growth rates of 20-25% is a thing of the past
  o Youtube is a bit under pressure due to lower views on the platform (change in preference to shorter form videos)

Disclosure: Invested (position size here, no transactions in last-30 days)

I am of the view, or have an unclear view, when retail participation either direct or via MF would slow down, or even get halved, if indeed it happens. And a part of such participation, I feel, will cease to exist if there is a sound fall which impacts all the markets. Or maybe it could happen that, it will not cease to exist, because every participant becomes somewhat informed, understands the situation, and does not leave. I read comments from regular people, who I believe don’t work in corporate, talk about Fed meetings, G20 summits etc. So maybe the change has begun or it is still under construction and may tremble. I am not sure.

Like an economy fueled by debt, maybe our market too is running in motion with the help of continuous inflows from new entrants, who are replacing disgruntled or loss hit participants, so the machine may very well keep running until the next catastrophe from the West occurs.

While I am concerned about the misinformation and misleading aspects of the education, I like the current environment as I get to see good liquidity all around, for my shorter term bets. And I don’t know what would I do if indeed there is a crash and PF becomes halved. I was not in the market when GFC occurred.

So I guess, I should learn to go along with the tide, and have an ark too, if indeed a crash is around the corner.

Just some random thoughts.