Rudra portfolio


(Rudra Chowdhury) #121

Pruned some positions over the last few weeks, latest pf

Kaveri Seed Co 24%
Hawkins Cooker 22%
Unichem Labs 16%
Astral Poly Tec 14%
Amara Raja Batt 9%
GRUH Finance 8%
Dishman Pharma 6%

(Ankit Gupta) #122

Hi Rudra,

I would just like to caution you about Dishman Pharma. I have doubts on promoter integrity from what news I can gather from local sources (its Ahmedabad based company).


(Subash Nayak) #123

Rudra,

If I would have in your place, I would have sold all of Dishman (promoter pledging, not so successful turnaround story), and ARBL (corp gov issue, stagnating growth) and move to some other better stories.


(Rudra Chowdhury) #124

Thanks Ankit,

The promoter pledging and management inefficiency are the reasons why it is languishing at such low P/E.

However, given the recovery in FY13, I am optimistic in the current CRAMS boom cycle. Will closely monitor this.


(Rudra Chowdhury) #125

Dishman - I agree and reducing... ARBL - I don't agree hence increasing smile

Different opinions make the market.


(Ankit Gupta) #126

Rudra,

If you closely read company's FY12 annual reports it was mentioned that they were delaying repayments of term loan by the auditors.

Regards

Ankit Gupta


(Rudra Chowdhury) #127

Hi Ankit,

I saw that note in FY12 AR, however if you see the FY13 AR, there is no similar observation repeated. Also company has started paying the fast tranche of debenture redemption in Feb 2013 to the tune of ~15 Cr without any delay.

The main cause of concern is the exponential increase in working capital requirements, and related unsecured funding and incremental share pledging to provide collateral. However given the start of Hi-Po and Vitamin D3, the company can look forward to good growth in FY14 and FY15.

My views on Dishman:http://prdntinvestor.blogspot.in/2013/06/stock-update-dishman-pharmaceuticals.html Link: http://prdntinvestor.blogspot.in/2013/06/stock-update-dishman-pharmaceuticals.html

Would be great if you can share more loopholes/negatives and feeback from local sources.

Thanks,

Rudra


(Shankarnarayan K) #128

Hi Rudra,

Are you still maintaining your positive stance on Hawkins ?

As a side , I almost burst out laughing looking at the pciture of their newly launched product on the AR cover page. Its just a normal induction pressure cooker :D.

BR.


(Raj) #129

:D.

BR.

Hi Shankar,

Didn't get why had a hearty laugh? Could you please elaborate?

Regards,

Raj


(Shankarnarayan K) #130

Hi Raj,

Not sure if Iam missing something here. But arern't induction pressure cookers very common everywhere? TTK had it 5 years ago, when we first bought it.

BR,

Shankar.


(Raj) #131

Got it Shankar. Probably Hawkins is excited because this product line is new to them. Also they feel that they have a better product which can help them. This is from folks who attended Hawkins AGM.


(Amit) #132

In the AGM, the management has informed that hawkins is planning to introduce a range of products, induction based cookers, induction appliances and also induction cooktops. A statement by B. Vasudev said that never in his career of 45 years has he seen so many products launched in such a short time. I believe the cooker is just the starting. The other products are probably being tested and yet to be launched.

Nevertheless, all products will already be common in the market. Its just a new entry for hawkins.


(Vamsi Krishna) #133

Rudra,

how does Astral looks like valuation wise for fresh allocations?


(Rudra Chowdhury) #134

Astral looks strongly poised for growth, but given the volatility in prices I would advise to buy in a staggered manner and not entire quantity at one go.

Astral's new plant in Hosur focused on southern markets and monetization of Blazamaster opportunity can provide surprise upsides.


(Rakesh ) #135

hello guys,

i m new to this forum & value investing. i m very much inspired by all u guys.. discussing in detail about every stock.

from last 1 month i m reading valuepckr.

i m interested in

Mayur

Astral

Hawkins

dishman

JB chemical

kindly all senior people out here help to decide is it good time to buy these stocks.

regards,

rakesh


(Rudra Chowdhury) #136

Hello Rakesh,

Off the five - Mayur, Astral, Hawkins, Dishman and JB Chemical

Hawkins **is a buy at CMP for people with at least **2-3 years horizon.

Astral, Mayur has run up a lot off late and would be good to enter on corrections.

**Dishman **should be avoided in lieu of better pharma bets with cleaner balance sheets.

JB Chemical )- I do not track. Hitesh bhai would be the best person to guide you on this.


(Rakesh ) #137

Hello Rudra,

thx for quick reply

bought some hawkins with ur confirmation.

now loooking for other good componies..

regards

rakesh

**Hawkins **is

a**t least 2-3 years horizon.Astral, Mayur**

**Dishman **should

JB Chemical )-

hello guys,

i m new to this forum & value investing. i m very much inspired by all u guys.. discussing in detail about every stock.

from last 1 month i m reading valuepckr.

i m interested in

Mayur

Astral

Hawkins

dishman

JB chemical

kindly all senior people out here help to decide is it good time to buy these stocks.

regards,

rakesh


(Chaitanya Inamdar) #138

Hi Rudra,

Looking at current correction in Astral is it a good price to accumulate?

Thanks


(Rudra Chowdhury) #139

You can start adding from here in small lots and buy more on declines with a 2-3 year horizon.

We will get more clarity on the commercialization of Hosur plant and Blazemaster opportunity from the recently concluded management meet.

Apart from these, there are no immediate triggers and stock is fairly valued at the current point.


(Vamsi Krishna) #140

Rudra, Found your approach very interesting! As it has been a while since you developed it your review and new views in the hindsight would be very much appreciated.