VLS Finance limited (511333)

[MyCapitalNotes]

Thank you for that. Great to see someone with a significant investment coming onto the platform and sharing their views.

Any idea what their investment philosophy is? There seems to be a huge churn (significant multiple of their investments. The change in accounting standards is removing this in the financials in FY20 (not sure why they historically reported it as income and expense in the first place)).

Would you know anything more about the promoters? Have you interacted with them?

Sorry for shooting so many questions, but my final question is, what is your investment hypothesis? What prompted you to buy and continue holding?

VLS certainly isn’t a holding company.

@MyCapitalNotes

There is a fundamental difference between VLS and companies like Bajaj and Birla, etc. They are holding companies – they allocate resources within the group, they make decisions that affect subsidiary and operating companies (look at the overlap in management). VLS is more like a mutual fund. Think of VLS as an investor like you and me. Add a company as the functional entity through which they operate. Plus significantly more AUM than me. That’s what VLS is.