Hello All,
Need your views on my portfolio
Allocation
Mayur 30%
Hawkins 21%
Page 18%
IndusInd 12%
Kajaria 10%
I was buying Mayur slowly since April 2012, and it has a big allocation now. I am a bit unsure whether I should reallocate some money to one of Astral/Cera/Gruh/Greenply/AmaraRaja.
Astral and Gruh have cooled down a bit.
Thanks
Rohit
Hi rohit,
Even i am holding mayur and it constitutes more than 30% of my portfolio. Even if mayur maintains the same profits as in the first half it is 30% growth YOY. They will be maintaining the dividends too. Theknittedfabric unit will be fully operational from jan this year and the improvement in margins can be seen in the subsequent quarters. Exports to Mercedez and BMW should happen this year(as management had earlier stated). If they can add them to the kitty, overall long term looks good. Also if mayur can grow 20-22% CAGR for the next 2-3 years, the current PE is not expensive even otherwise.
Hi Krishna,
Thanks for your comments. I was getting a bit unsure seeing many people reducing the allocation of Mayur. The price has also gone nowhere in last 2-3 months. Recent comments from managementsound similar profits as first half. Theyare always a bit conservative in giving estimates though. There could be small surprises.
I am a bit doubtful whether the PE will go beyond 15-16 unless DII/FIIs come in. It is such a wonderful company. I wonder why it didn’t attract FIIs.
Any views on Page? How does that look in comparison with other opportunities?
Hi Rohit,
Maintaining the same profit as H1 in these tough times is good and that is still 30%(YOY) growth of EPS. so a company having PE of 10-12 and grows at 20% is not expensive. Also include all the other aspects- managment integrity, cash flow, ROCE/ROE, market oppurtunitites,div payout etc. For short term there will be some corrections but long term story is good.
Page has increased the prices of products which should directly add to the net profits. Also they have said they would maintain the operating margin at 20-21% from now and see volume growth. Also they are expanding speedo. It is a good long term bet because of the structural secular growth for the next many years and market pays premium to these kind of companies.
There may beopportunitiesavailable. However the question to ask is can anyone bet 20-25% of his portfolio in the stock and can see visibility for the next 5- 6 years without losing one’s capital.
Other than above mentioned holdings, I had 4-5% in Symphony. Sold Symphony @366 today. Plan to buy Ajanta even after this run up.
Thanks for your imputs Krishna 
Who was this idiot Ramjidas n co who sold 5 lacs shares of Ajanta Pharma @ 399 only a few days back. But do the promoter of Ajanta buy n sell the co stock?
My neighbour doctor who is a diabetic n general physician has a very good opinion abt Ajanta . So 2 doctors Dr Patel n mine support the stock.
Your concentrated portfolio seems very solid. But why did u sold Symphony ?
What’s your take on Kajaria n isn’t it an attractive buy at current price? What abt huge competition in its sectors?
I had this small % of money to make short term bets. I was expecting symphony to zoom after the results but that didnt happen. Nothing wrong with symphony. In fact the results were quite good but I think there is a lot of upside still possible in Ajanta. So I want to switch to Ajanta. However if Symphony goes down to lower levels, I might evaluate it again.
Kajaria is definitely a good buy at these levels but the results were a bit disappointing. They say the reason was rise in fuel expenses. I am not very comfortable with Kajaria right now. So not buying more at these levels. Will consider if it goes below 200.
Titan seems to be in a negative trend. TBZ has also fallen after the hike in excise duty. Will consider around 250.
Perhaps one should look at Wim Plast. Details are available elsewhere on this site.
Hi Tony,
Thanks for drawing my attention to Wimplast. It looks really good and available at PE of just 9. Now have one more company in the list of options for allocating 8-10% of my portfolio.
Unichem
Ajanta
Wimplast
Amara Raja
Bought some Cera at 410 and placed an order for Unichem at 185.
cera looks a good bet post the third quarter results.
What I like about it is the strong growth and still maintaining a good balance sheet.
Hi Hitesh,
Very true. I am happy to buy it at this price. I think the downside is limited at current price.
btw…Astral posted superb results. Might give a gap up opening tomorrow. I might take a position.
added astral
good timing n temperament to buy astral Rohit
hi
any thoughts on arshiya ?
Hi Kunal,
I will stay away from Arshiya for a while but its on my watchlist.
Rohit,
You have missed the qualification of the Auditors on the results of Astral. Forex loss has not been reflected in current quarter. See Astral elsewhere.
Suggest having a look at Cera and see my analysis on the stock thread elsewhere.
Hi Tony,
Not much growth Q-o-Q. But the 7% price increase should give some improvement next quarter. I read your post about Cera. I have initiated a position in Cera also and will add more if it goes to 400 or so.
