Ranvir's Portfolio

Q&A: Questions & Answers Portfolio Q&A
81

Posting my updated portfolio here (After a lot of buying and selling in the last 2 months)…

STOCK------------ALLOCATION------------------AVG PRICE

Yes Bank-------------9%------------------------------Rs 500

Bajaj Finance-------5%-------------------------------Rs 3000

Bajaj Finserv--------5%-------------------------------Rs 1740 (Sold half of my Bajaj Finance Shares and converted them to Bajaj Finserv )

KVB-------------------3%-------------------------------Rs 500 ( Gross reduction in weightage due to stress in asset quality)

HDFC Bank--------1.5%------------------------------Rs 1080 ( Bought by selling KVB )

HDFC----------------2.5%------------------------------Rs 1140 ( Bought in the recent correction)

UPL------------------8%--------------------------------Rs 420 ( Bought agressively in the recent market correction)

Godrej Industries—6%------------------------------Rs 345 ( Bought in the recent market correction )

GCPL----------------8%--------------------------------Rs 1220 ( Incresed allocation in the market correction)

Marico--------------9%---------------------------------Rs 165

Dabur---------------5%-------------------------------- Rs 250 ( Fresh Buy)

Emami--------------7%--------------------------------Rs 700

Britannia------------4%--------------------------------Rs 2700 ( Fresh Buy )

Hawkins------------4%--------------------------------Rs 2700 ( Bought by reducing stake in KVB)

Jyothy labs---------8%------------------------------- Rs 230

PVR------------------4%--------------------------------Rs 725 ( Fresh Buy )

DB Corp-------------4%--------------------------------Rs 330

Torrent Pharma----7%-----------------------------Rs 900

Bajaj Auto-----------3%-------------------------------Rs 2400( Increased allocation)

TGBL-----------------2%-------------------------------Rs 130

Recent exits/ partial profit booking–

KVB, Yes Bank, Axis bank, Cipla, Jagran Prakshan

Total Value- Rs 1.6 cr ( Aprox )

3 Likes
82

Hi

Nice portfolio - Not sure about KVB and TGBL though. Have you made a chart of sector wise allocation and also market cap allocation?

83

Hi @ranvir,

Nice to see your updated Portfolio.

I too recently (last 2months) added Britannia Industries and Godrej Consumer and Jyothy Laboratories in the FMCG Space.
I posted above Britannia earlier also on ur thread if you remember.

Godrej and Jyothy I got interested after going through your posts so thanks for that.

Regards,
Kapil

84

@kapil1301…Thanks for suggesting Britannia. Lets hope for a good operational performance by the company.

GCPL has posted descent results. FY17 is expected to be better both- nationally and abroad plus the consolidation of the sales n profits of Strengh of Nature.

Eagerly waiting for JLL’s results.

85

@ranvir in their presentation Britannia talked about being a complete food company:

Off late in Reliance Fresh Near My Home I had Below Observations:

  1. Britannia Rusk has been Intorduced and occupying a good shelf space.(Although if remember correctly I saw Rusk from Parle also their)

  2. The Local Kirana Shop near my House had Britannia Rusk and Local ones (No Parle Their)

  3. For the First Time Ever I bought Britannia’s Brown Bread from Reliance Fresh as long as I remember I have not seen it there before.

  4. My Office Canteen had Britannia Yoghurt/Curd Cup.

  5. Reliance Fresh too now keeps Britannia Yoghurt/Curd Cup.

I have really liked their new 5 Rs Cream Tiger Biscuit Specially their Pineapple and Elachi Variant.
Orange one was just so-so.

My views might have holding bias but the developments I am seeing around in the shop is telling me that management is walking the talk.

Regards,
Kapil

86

Any comments on the competition from Patanjali. I talk to local people here at my place and everybody just want to try and use Patanjali products. Would like to hear your comments.

87

Patanjali has launched a lot of products…probably in hundreds. But my feeling is that they are strong in certain products/categories and weak in others. In some categories they are not present. Let us see them one by one…

STRONG- Ghee, Packaged foods ( like - dals, besan, squashes, Rice etc ), Oral care, soaps and personal care. Players in these categories are worried- Like Colgate because oral care already has deep penetration and growth for patanjali is coming at Colgate’s expense.

WRT packaged foods…patanjali is doing very well…but these are hugely under penetrated categories. Players like ITC, Amul, Parle, Britannia, Dabur are not too worried as these categories have a long way to go wrt growth and Penetration. Patanjali can be accommodated in these categories. Infact patanjali may be helping these categories grow and achieve their full potential.

WRT…soaps and personal care…Patanjali is present and doing resonantly well but not in a meaningful way…like in oral care.

There are categories where Patanjali is weak/absent- House Hold Insecticides, Detergents, Toilet Care, Dish Wash, Higher End beauty products, Hair Oils etc. Companies in these categories are hardly affected.

3 Likes
88

Not sure if this is the right place to ask, but what do you think of UPL? I bought it recently at 580 levels since it had a good ROE and low Debt/equity ratio.

89

Yesterday, I sold all my stake in DB Corp and TGBL…and converted them to Aarti Industries and Aarti drugs.

DB corp sold at a small profit (12 %) and TGBL at a small loss ( 8%).
DB Corp was always a trading bet. I was looking for a bounce.
Got disillusioned by TGBLs performance.

I was studying Aarti Industries and Aarti Drugs for quite some time now. I liked both the companies, their growth prospects and their investor friendly managements.
So…took the plunge.

90

Reduced my stake in UPL from 8% of portfolio to 6%. Sold at 560 after buying at 420 early this year.
Converted UPL into Emami @1020 and Britannia@ 2560.

According to me recent correction in Emami and Britannia was a good entry point.
Also, I had made descent money in UPL…so there was an additional temptation.

My ultimate aim is to have high allocation to consumer facing companies and to hopefully never sell them.( But that is conditional on their performance). For eg: in the last 3 years, I have only added to Marico, Dabur, JLL, GCPL and Emami…never sold any stake in them.

So now, Britannia is 5% of portfolio and Emami at 8%.Rest remains same.

1 Like
91

Good companies but expensive stocks.

92

Yes I agree that most of the stocks in my portfolio are expensive. But they were not so expensive when they were bought. However there are some of them which are not so expensive. These include- Aarti Drugs, Aarti Industries and KVB.

The rest have run up a little too much for comfort.They will only qualify as buying opportunities after a market correction.

93

Hi @ranvir
Good going from Britannia :slight_smile:

Also you were holding bajaj auto. I have recently booked out from it.
Whats your take on it vis a vis comarison with TVS motor company.

Dont you think bajaj Auto is missing a trick by not entering the scooter segment.
TVS Jupiter is doing quite well and at matket cap of 14000 could it be a long term compounding story.

Although if we see the Margins Bajaj Auto - 20% whereas TVS motor is sub 7%.

But I think there lies the opportunity for TVS motor as Jupiter and Apache gains more and more acceptance it has chance for margin improvement.

Would love to hear your views.

Thanks and Regards,
Kapil Gupta

94

Hi Kapil

Sorry for being late to reply.
Jupiter and Apache are doing well. But so are new Avengers and Bajaj V. Infact both are selling more than 25000 units each/month. Plus there are KTMs that are doing super good. Pulsars are evergreen and market leaders in Rs 60000-90000 category.
Bajaj CT-100 and Platia are also doing fairly well. Discover is a bit sluggish. In Aug, the domestic business grew by whopping 25%!!! As and when the pressure from exports eases ( due macroeconomic problems in the countries to which they export ), Bajaj Auto will become the darling of the street.

1 Like
95

New activity-
Sold some of my shares of Aarti Industries ( not all ) + managed additional capital and bought EXIDE Industries at 178 levels.

To me, it looked undervalued post its q1 results which were stellar for a company of their size. I am expecting Exide to turn the tables on Amara Raja. ( and they have been doing it for last 2 qtrs).

Their Insurance business ( which is profitable ) is an added freebie.

In my view there is potential of huge growth and value unlocking there.

Regards,
Ranvir

1 Like
96

@Ranbir what prompted you to exit TGBL.
I have recently added it to my portfolio. Just want to know your thoughts.
Going by your portfolio I found that you recently exited Ipca and coincidentally I added that to my portfolio.

97

@Ankchandak… I had exited IPCA long back…when its valuations were quite high…at around Rs 770 or so…I made a gain of 10 % or so. This was late last year maybe. Basically I was anticipating a fall in stock price in the face of deteriorating fundamentals.

But at lower levels, at say 450-500 or so I ve seen a lot of supposedly smart people buying it. What was ur purchase price?? Plus the fundamentals are improving. But I dont track it any more.

Wrt TGBL, what’s ur purchase price???

98

I bought Ipca at 510 and TGBL at 142

99

Tata group will move to profit mode according to porinju… so inthnink, holding on with TGBL will be a good option from now on…

100

@Ankchandak…510 for IPCA is not bad.

Wrt TGBL…its product range and market position are unquestionable. In the past, it has been accused of lazy management. But a turnaround is always around the corner. Its basically a patience game. Lets see how it unfolds.