Anand R - Portfolio Review

Hi VP Members,

So, finally found the courage to get post my portfolio after spending a lot of reading here here while p/f is still evolving. I’m 35 and single - portfolio goal is for long term wealth accumulation. Have other investment in mutual funds, real estate, fixed deposits, etc

My close friend has set up my portfolio 5 years ago and I didn’t have time / interest to analyse and invest in stocks – had kinna forgotten about it and didn’t track performance (now i know that passive is a good strategy :)). His picks were extraordinary and gave superior returns (e.g. Piramal at 380 levels and Hatsun at 350 levels ) so much so my p/f is still in green and allocation looks a lot skewed!

  • I don’t have proper price history as had to change brokers in between.

Anyways, cut to the chase, he got busy and now am investing on his advice (his watchlist) plus my own efforts (still learning about Mr. Market and made few wrong calls) for the last 9 months!

Adding portfolio allocation for my buys since last one year to give realistic picture of allocation.


There are great names in your portfolio. Moreover the allocation% to them shows strong conviction. I will however raise a few concerns on some companies:

  • Wonderla/Shemaroo/Mahindra holidays- I have not studied them all in detail. However I urge you to have an in-depth conversation with someone who does and understand the risk that these companies entail.

  • Care ratings- Ratings agencies do well in bull and go almost bust in bear markets due to the mistakes in bull. If you want to invest in ratings agencies I will recommend Crisil instead.

  • Max Financial services- For insurance I would recommend an HDFC company. Insurance as a sector is performing very well right now, however in a downturn cycle, you need to know which ones will be able to stand on their feet.

  • TCS- why such a low allocation?

  • Why hold RBL bank if you understand and have HDFC Bank in your portfolio?

  • Piramal as your top holding, do understand that it has 2 very different business segments of Finance and Pharma. Also Piramal Enterprises hold 10% in Shriram Transport Finance. You already have an exposure from Shriram in your portfolio, do you need it individually as well?

All the best for your investment journey.


Thanks for taking time to provide your feedback! On allocation, it is more of magic of compounding :smile: - of course there is this conviction that I can continue to hold hoping for past spectacular performance to repeat. All small allocation (except Maruti where I went overweight to make quick buck but ended up being bad call) is my last 10 months work wherein higher weightages are ones which have grown over last 5 years.

Both Wonderla and Shemaroo face headwinds but I expect both businesses bounce back - Yes, am tracking them both. Mahindra Holidays allocation is more of tracking position, haven’t developed conviction. - This actually led to my Shemaroo discovery.

Wonderla Holdiays

Mahindra Holidays

True, CRISIL is a good co. too but my rationale was CRISIL itself holds ~8 % stake in CARE and is not pure-play ratings. I zeroed down on CARE based on this report however many things have changed since

Point, keeping an eye on HDFC and hopefully will add to portfolio soon too. Been holding Max for 5+ years and given decent growth so don’t see reasons to sell.

Valuation. :slight_smile: Will accumulate in dips. Same, with Titan too.

Basically mid cap with lot of room for growth compared to HDFC, again tracking position - reading more before I take the plunge. Tracking position helps me commit to follow and research, more like a token

Pharma is turning out to be small. Also, they no longer hold Shriram and hence am taking direct position. -

Are you sure pharma is turning out to be small?

I stand corrected here.

You’re right - Pharma is still substantial in revenue contribution but I suppose most of the fresh capital going towards Financial services? And Financials seems to be pre-dominant theme of PEL.


Some suggestions:

  1. Add Large Caps to lower the Beta on your overall portfolio. You must be feeling the pain right now with the Small and Mid Cap index so far down.
  2. Add some macro theme stocks like RIL, HUL, PGHH, DRL etc that will give you the diversified, FMCG and Pharma to this list without adding a high amount of draw downs.
  3. Start to put some amount in Nifty ETF as well as Gold ETF, even if you do SIP into them once a quarter or year or at Price Low points. This will give a new twist to a LT portfolio.
  4. Derive the max value that you want to achieve out of each stock and position, and even I am not able to do this with any consistency. Whenever I have done that with some reality and STEPPED out of the stock, it has been my best decision#2. Best decision#1 is to “hold”, “hold” and 'hold"

None of the above applies if you are a trader. But, you have to be 80% Investor and 20% trader, which will do you a lot of good. Easy to say, hard to do.



Thanks for your feedback.

Even large caps causing pain. :wink: I’ve Maruti, HDFC, TCS, etc and majority of my MF portfolio (about same size as entire equity portfolio) is large cap focused.

Right, looking at Page Industries, HUL, etc. Will start picking. Have Ajanta and Sun from Pharma.

Have a SIP to UTI Nifty Next 50 and Principal Nifty 100 Equal Weight Fund. H/T to

That’s the plan. Let us see. :slight_smile:

We have a PE in the stock market. That PE has a different meaning to the people who have been investing for a long time.

Stock Market = Pain + Euphoria (PE)!

If you don’t want Euphoria, then you will not have Pain, but simply staying away from the markets forever. If you want Euphoria, then Pain will be part of it. When you play the stock market, you are playing “Rugby” or “American Football”. You can make the goal, but you are going to get ‘hit’ also!!!

Good luck.



Ok so a lot has happened since my last post! I’ve been actively building portfolio during Covid crash and was able to add / average many positions with decent buy price. Of course, in hindisght, should have invested more during March-June. :grimacing:

Please find below the latest portfolio, broadly categorised into Core and Satellite.
I’m aware that it is perhaps too many per liing of most investors but I do have lot of time to track (kill)! :wink: Plus, some of the companies have been holding for past few yeears / big names that perhaps needs lesser attention.

Feedback most welcome :smiley:

Hi Anand, Greetings!! What is your view on Wonderla for next 3 yrs from current levels…I am already holding from past 3 yrs with -30 % retruns…planning to switch to Pharma API companies by booking loss…Please let me know your thought

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Even am -40% down and not much bullish and perhaps would like to exit with all good news factored in (opening with full capacity, Chennai park progress, etc). Maybe sunk cost bias that keeps me still invested. I didn’t average as well. If you’ve identified other lucrative opportunities think makes sense to book loss and exit.

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Great Portfolio.

Best to add more to scripts like VIP, Hero, Yes Bank, TaMo DVR, ITC and others esp. since those are the last ones that have not moved to crazy valuations. Keep in mind that in 2021-22 if we get a correction, you will need to have money set aside to buy more for core positions. No one knows when valuations are going to come to reality, rates are going to climb (with oncoming inflation) and therefore a correction. But, frothiness is always followed by corrections, when none of us are expecting it. Right now it is all ‘sugary sweet’!


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Thanks! Yes, that’s the idea.

I keep adding in corrections based on my valuations comfort. True, as a principle mostly I stick to not buying unless it is a RED day and have enough liquidity to deploy when there are opportunities.

Portfolio changes:

Added a bit to Ajanta, MGL and SKF. My way of dealing with FOMO itch is to trim some positions and add in corrections without touching Top 5 Core positions unless there is strong reason.

Re-entered CDSL winning anchor bias (had booked profits earlier) as I feel there is still leeway for growth in the long term. My thesis below:

  1. PSU Disinvestment (LIC, etc) on the cards and the expecting fresh slew of IPOs happen due to positive market sentiment. Zomato, swiggy type startups who are maturing and many other businesses will want to raise money from capital markets.
  2. Bullish market attracts lot of fresh people who will want to make quick buys in rising market and tech will accelerate growth. Niyo money is launching stocks. Paytm has done it already and will massively bring in customers. If there is delivery involved CDSL will gain for every order.
  3. Financial awareness is on the rise and again tech will be catalyst bringing more.
  4. Every 5 years CDSL can increase their fees and they are near completion of that term i read.
  5. CDSL has NO debt on their books and all cash can be used to build newer lines of businesses (optionality of having insurance, etc digitised and held under one Demat account). And operating leverage will come into play.

Margin of safety is not there at current levels but a duopoly with durable moat is the comfort.

Yes, CDSL monopoly should really do well in the future since it is hard to create competition. It is almost like Intel, but then Intel is “finally” get beat by ARM and Nvidia with their speciality processors. So, CDSL eventually will have some block-chain competitors develop, but for now, it is a like a Jio-Bharati Monopoly. So, good pick, although my analogies are not quite ‘exact’ but close-enough.


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News was there NSDL Ipo Is coming.
Aren’t they both direct competitors?

Kind f duopoly ?

Yeah…Its like the NSE vs BSe and CDSL vs NDSL. Own all 4 and we own the India Stock Exchange and Support System for next 10 years. These are investment vehicles. BSE has underperformed from IPO so have to do SIP for all of these.