It’s been more 1 and half months since I’ve shared my PF update. Let me share the updated PF here
| Company | Weightage |
|---|---|
| KRSNAA | 7.5% |
| PDSL | 7.3% |
| XPROINDIA | 7.2% |
| MAYURUNIQ | 7.1% |
| KERNEX | 6.9% |
| FINOPB | 6.0% |
| MTARTECH | 5.8% |
| CIGNITITEC | 5.7% |
| CONFIPET | 5.1% |
| MOLDTECH | 5.1% |
| REDTAPE | 4.9% |
| KAMAHOLD | 4.3% |
| Shreepushk | 4.0% |
| Vishnu | 3.9% |
| NSE:MCX | 3.8% |
| SAIL | 2.8% |
| ANGELONE | 2.7% |
| DEEPAKFERT | 2.4% |
| ULTRAMAR 506685 | 2.1% |
| DCMSRIND | 1.8% |
| LAURUSLABS | 1.6% |
| SBCL | 1.4% |
| AMBIKCO | 0.5% |
| WIPRO | 0.1% |
Most of the portofolio is intact. There are some new entries and also exits. Weightage reduction and increase
New Buys: Mayur Uniquoters with SIgnificatn weightage, Shree Pushkar Chem, SAIL, DCM Sriram, Laurus Labs, Ambika Cotton
Complete Exits: Goodluck India, DODLA, IGPL,
Rationale:
- Mayur Uniquoters: This co didn’t give any returns after 2014. Now I expect things to turn around with Export to Auto OEM to ramp up. They have orders in place for this high margin business. WIth this I expect the PAT to compound at >20% CAGR for next 3 years and ROCE to improve leading to slight rerating. Dividend yield/buyback yield of 1-2% is extra
- Shree Pushkar Chemicals: Co is sitting on big capacity and can make upto 1400 cr revenue with this capacity against current revenu of 700 cr. If the cycle turns around the profit could be ~140 cr. Current market cap is ~700 cr. So, expect the stock to double in next 3 years (If I can patiently hold it)
- SAIL: Expect the steel cycle to pickup and the co. to rerate to 0.9x P/S from current 0.4x currently. 2x returns in 3 years time (In <2 years is possibliility)
- DCM Sriram: Co is going through demerger. Expect 2x from current price as the Chemical and Industrial Fabric business rerates
- Laurus Labs: Wrote a post here . I expect the Sales and margins to improve as the base is favorable and I respect that Dr. Chava has built 20000cr market cap business in 18 years
May add SAIL, DCM sriram to with Priority. GTT order set for Ambika Cotton (but no funds 
) (Ambika Cotton is a Cyclical play ). Laurus is not too attractive valuation wise but Pharma sector is in uptrend, so may or may not add
- Sold Goodluck and Dodla as I thought valuations are not attractive anymore. I See Goodluck India to be a business that can make 600 cr profit by Fy2030 and market cap of 15k cr (currently 2.5k). Although my estimates are optimistic, I don’t think my estimates are too aggressive
- Sold IGPL as I don’t have patience to hold this stock at the bottom of cycle. Although the reasonable thing to do is to hold for the cycle to turn and make 2x-3x money in 3 years, I don’t have the discipline to do this. I get swayed away by other available opportunities and sure Need to work on this.
If anyone is interested I can explain the thesis of any of my investments in a few lines. Feel free to quiz me
Thanks for reading the post
Praveen
Disc: No reco to buy or sell. I myself am a learner