SEPTEMBER EOM UPDATE
SUMMARY
- Added Shyam Metalliks while exiting Sparc/Vindya/RACL/FDC/Kovai
- No of holdings now stand at 22 (including MF)
- Avg MarketCap to Sales (for direct equity): 2.8
- Net uptick: 25.81%
- During the month some equities/bonds were getting sold at very low prices so I took entries with a short-term POV. However, have exited them now with some profit (ex: GS2052, AllCargo etc)
ALLOCATION
| MCap/Sales | Names | Invested % | Net Returns | FPD > 1 |
|---|---|---|---|---|
| PPFAS🔒 | 20.33% | 20.60% | Yes | |
| 0.98 | Godrej Agrovet🔒 | 8.68% | 6.36% | |
| 1.51 | Triveni Engg | 6.95% | 38.06% | |
| 0.70 | BCL Industries | 5.76% | 11.29% | |
| 1.46 | Exide Industries | 5.25% | 1.23% | |
| 2.25 | Sansera Engineering🔒 | 5.02% | 22.65% | |
| 7.23 | Ami Organics | 4.78% | 8.18% | |
| 2.15 | Gokaldas (GOKEK) | 4.57% | 103.58% | |
| 2.72 | Greenpanel🔒 | 4.49% | 4.30% | Yes |
| 3.12 | Max India Ltd🔒 | 4.34% | 18.41% | |
| 3.00 | Lupin | 3.80% | 33.80% | |
| 12.20 | M.K.Ventures🔒 | 3.51% | 5.82% | |
| 0.72 | TATA Motors - DVR | 3.46% | 7.00% | |
| 5.19 | Borosil Renewables | 3.38% | -11.75% | |
| 2.18 | L&T | 3.25% | 148.56% | Yes |
| 2.89 | Shyam Metallics | 2.77% | 0.08% | |
| 2.31 | TIIL🔒 | 2.75% | 59.94% | |
| 3.69 | Ion Exchange | 2.56% | 73.04% | Yes |
| 0.63 | Cosmo First🔒 | 1.80% | 2.83% | |
| 1.14 | MMP Industries | 1.18% | 78.79% | |
| 5.36 | Niyogin Fintech | 1.01% | -11.38% | |
| 2.07 | Banka Bioloo | 0.37% | 4.43% |
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FPD>1: First purchase date was 365 days ago. May have added more / sold some at a later time
-
SHYAM METALICS: Needs a detailed post - will write later. (over the weekend hopefully)
-
RACL Geartech
Exited somewhere between 60% to 80% uptick (it was insignificant so didn’t care to remember). Bet size was getting insignificant with time (not comfortable adding at this valuation). Secondly, at 4 times Market Cap to Sales, chances of valuation re-rating were low (for comparison, Sansera is 2.2 times). -
FDC (< 1year)
Exited at around 15% percent uptick. The re-rating could have limited upside from here onwards. -
Vindhya Telelinks / Sparc Electrex
Bought them to study since they looked interesting - but - too many unknowns and unable to put the needed time. -
Kovai Medical
Very consistently growing business but if I had to pay these valuations, why not target faster-growing companies? I still like this so maybe I’ll review at lower valuations.
Looking interesting: Private Banks, Natural Gas, Textiles, Water
Disclaimer: Views are personal and nothing I say is a recommendation. I often go wrong and may even change my views without informing anyone.