Ramana's Portfolio - Feedback most welcome!

Hello Valuepikr’s,

First of all thank you to this amazing community, more importantly those honest human beings who are helping newbie’s like me.

I am an mechanical engineer by profession and always interested in financial markets. I made small money in market in last 4-5 years mainly because my bets are always small. I got scared during Covid fall and sold out my entire portfolio. I am on the sidelines for entire 2021 and watching multiple stocks becoming 2X, 5X and some even 10X. This is the biggest lesson of my life. I have leant my lesson now and planning to hold for long term (~10 years) and exit only when there is steady Y-o-Y/Q-o-Q sales/profits decline. For cyclical companies Y-o-Y may be good yard stick where as for others Q-o-Q may be able to tell the story. I am also planning to add as and when I have some surplus money that too on declines.

Coming to present scenario, I started buying seriously since start of Ukraine conflict. By July mid I am left with only 10% cash. Here is my portfolio as on 26th August 2022.

I had added quick comments for the stocks and very shortly I shall share my thoughts on why I bought these stocks. Today my Portfolio is with ~15% profit, as usual only top 10 stocks are contributing the most. Below are some details of my portfolio

  1. I have a total of 26 companies as of now.
  2. Chemicals have over weightage of ~30%, followed by IT ~20% and Financials ~10%.
  3. Top 10 holdings had weightage of 57% of total invested value and remaining 16 holdings form the remaining 43%.
  4. Clean science, Fairchem and Yasho are my dark horse bets. I might have taken huge risk here, but have conviction for now to hold on to them :slight_smile:

I am an poor orator and excuse if I have any typos. Here are some details about my risky three bets, I shall share my rationale in coming days.

Fairchem Organics

  1. Manufacturer of Oleo chemicals (98%) and Nutraceuticals (2%).
  2. Catering to diversified industries Paints, inks, Soaps, FMCG, Animal feed, Cosmetics, Pharma etc.
  3. Few marquee customers Asian Paints, Huber, Arkema, Cargill, ADM etc.
  4. Continuously expanding capacity hence expected to see jump in revenue & profit.
  5. ROC & ROE are quite healthy 37 & 33.
  6. Healthy OPM of 15-20%.
  7. Debt to Equity is 0.27.
  8. Equity Holding: Promotors 59%, FII 6%, DII 6% and Public 39%
  9. This is one of my dark horse bet, let’s hope this plays out :slight_smile:

Clean Science & Technology

  1. A fine and specialty chemical manufacturer. Performance chemicals (70%), Pharma & Agro intermediaries (17%), FMCG chemicals (12%).
  2. Revenue split: China (35%), India (30%), EU (15%), EU (14%) and RoW (6%).
  3. ROC & ROE are quite healthy 46 & 35.
  4. Debt free company.
  5. Equity Holding: Promotors 78.5%, FII 4.5%, DII 4.5% and Public 12.5%
  6. High PE of 77 is biggest negative point but it’s uniqueness compelled me to take my largest bet of my portfolio.
  7. Huge R&D spending and technical edge along with >40% OPM makes it special.

Yasho Industries

  1. A fine and specialty chemical manufacturer.
  2. Aroma (14%), Food (13%), Rubber chemicals (35%), Lubricants (14%), Speciality (25%).
  3. Few marquee customers Dabur, Continental, CEAT, Apollo, MRF, Michelin, HP, Indian Oil, Balmer Lawrie, Adani Wilmar, Colgate etc.
  4. Revenue split: India (36%), EU (22%), USA (27%) and RoW (15%).
  5. ROC & ROE are quite healthy 29 & 42.
  6. OPM is 15%
  7. Debt to equity is 1.02, which is on higher side and highest in my entire portfolio.
  8. Promotors 71.5%, FII 0.1%, DII 0% and Public 28.4%.
  9. Debt is the only negative for this stock rest all looks positive. This is my 2% portfolio value bet.

Once again I would like to thank this platform and would try my best to keep this thread up to date.


On lighter note, on this criteria very soon you may sell most of your picks…


Q-o-Q for some companies especially cyclicals may not be a good yard stick. More over I am not going to exit just because one bad quarter. There may some some economic tailwinds which may affect one or two quarters. I could have said "monitor Q-o-Q and Y-o-Y performance regularly and exit where the situation is becoming bad to worse for consecutive Quarters/Years.

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Congrats, it is good that you were able to write in 1 line for each stock. It would be good if you can write 1 line as exit condition for each. This will give you clarity.

Just a suggestion, ideally you should have not disclosed exact amount and exact number of shares in each holding. Just % allocation would have been sufficent


I feel, many investors feel some compulsory need to reduce the number of stocks in the portfolio to 10-15-20 instead of 25-30 companies. The most repeated reason given is difficult to track. But in todays world, i think , tracking 30 companies is not a great deal. You need to read 30 annual reports in one year. Initially you may require time but over a period of time, you will know which parts of annual report you need to read, which you can ignore. Quarterly concalls around 30 hours in one quarter and google alerts will make it easy and corporate announcements can be tracked on screener and other news on valuepickr.com, if threads of those companies are available.


Thanks for suggestion. Updated as you righty suggested.

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Agree with most of your comments.
The reason I was hinting to reduce the number of companies is to get the right % of allocation. Most of the time my portfolio gain/loss is very similar to mid cap index.
I think I should focus on increasing % of allocation where I have relatively more conviction.

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True. My self observed lot of HNIs having more than 50+ shares in their portfolio, few i saw 100 where there networth is more than 400cr+, myself when in learning phase had 60 stocks and had 100% profit in 3 yrs including 3stocka with 70%+loss, i think everyone should follow their own style investment and intelligence with patience and controlled emotiona for sure market works for all that don’t make bias until we are patient and less emotional


Looks like a decent portfolio of growth oriented companies. My prediction is it should do 19 to 25 % cagr over the next couple of years.

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Which factors you consider or are helpful to you while making predictions?

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It’s mostly my gut feeling :slight_smile: jokes apart
The Portfolio has a good combination of Large cap heavy weights + Growing Mid Cap (DN ,Vinati,DF, Devyani) & a small caps like fairchem,yasho. Thing to note here is almost 1/3 of the PF is relying on chemicals.

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These are some super picks. Would add more financials both Pvt Banks and NBFC, ERD players and retail to this list, though you have covered to a larger extent. I would suggest to focus on quantity goals now and re-read annual reports and attend each calls (both quarterly and publically available ones) of these cos. Good Luck.

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Thank you fellow members for comments. Here are my personal learnings and observations in recent times

  • I am always struggling to hold on to cash. Somehow I get tempted to buy (my watch list stocks) at the very first decline. I guess this is what called FOMO :slight_smile:
  • I am failing to practice “Waiting for the right opportunity” to buy only on considerable declines and key support levels. I know basics of technical analysis and trying to learn more.
  • I may have to sell companies with less conviction to buy high conviction companies in case of decent correction.
  • Fortunately I have a habit of deploying cash in small trenches.
  • Financial companies (NBFC, Housing finance etc.) are harder to understand than manufacturing companies, hence less weightage in my portfolio.

I am sharing my notes for three more companies below. I know this information is available in public domain but helps me reinforce my thoughts/opinion on these companies.

Deepak Fertilizers and Petrochemicals:

  • A well-diversified leader in Industrial and crop nutrition chemicals.

  • Industrial Chemicals (25%), Technical Ammonium Nitrate (34%) and Crop Nutrition (41%).

  • Largest manufacturer of Nitric Acid and Bentonite Sulphur in India.

  • ROC & ROE are ~20.

  • OPM is improving progressively and currently stands at 24%.

  • Debt to equity is 0.69 which is not bad.

  • Promotors 47.5%, FII 16%, DII 1.7% and Public 34.8%. FII’s have increased their stakes over last few quarters.

  • China+1 theme along with Europe gas crisis should create more demand hence higher revenue.

Devyani international Limited:

  • A quick service restaurant player which operates KFC, Pizza Hut, Costa Coffee and few less known brands such as Vaango and The food street.

  • Ravi Jaipuria (promoter group) also owns Varun beverages. This is the reason why you find Pepsi (only?) in KFC and Pizza Hut.

  • ROC & ROE are 16 and 42 which are quite healthy.

  • OPM is pretty stable and currently stands at 23%.

  • Debt to equity is 1.83 which is high but this is understandable with aggressive growth plan.

  • Promotors 63%, FII 7%, DII 6% and Public 24%.

Happiest Minds Technologies:

  • An IT company works on disruptive technologies such as artificial intelligence, block chain, cloud, digital, internet of things, robotics/drones etc.

  • Founder Ashok Soota is an inspiration for many leaders in IT industry who severed Mindtree and Wipro in various roles.

  • Both ROC and ROE are standing at healthy 31.

  • OPM is pretty stable and currently stands at 25%.

  • Debt to equity is 0.37. Cash reserves are at healthy ~600 crores and consistently growing.

  • Promotors 53%, FII 4%, DII 1.5% and Public and others 41%.

  • Both FII and DII’s have reduce their stakes in recent quarters, is this due to high PE (~77) compared with its peers? However both sales and profit in increasing consistently hence decided to hold on.