Skip to main content

Purpose


I’m creating this blog as a log of my notes on public Indian companies from the perspective of an individual investor.  My notes are solely concerned with the business of Indian companies and not the investment value of them.  Therefore, none of the companies noted here are recommended for purchase, holding or sale.  In fact, the companies noted here are random with a bias towards smaller companies since large companies are well-covered by brokerages, rating agencies and others.

Why am I sharing my notes with the world?  I have several reasons. 

-         -  I want to enhance my business thinking and the discipline of writing down my thoughts on various companies should clarify my thinking

-         -  I would like to express my thinking, which may benefit readers in some way

-         -  Engage in intelligent conversations with like-minded investors and perhaps create a few lasting friendships along the way.
       
      I want to stress once again that I am not here to comment on the investment merit of any company – simply its business from my point of view.  And I take no responsibility for any action taken on any of the companies mentioned in the blog.






Labels:

Comments

  1. AnonymousAugust 18, 2011 at 7:42 AM

    i really appreciate your effort...keep up...

    ReplyDelete
  2. AIAugust 19, 2011 at 1:02 PM

    Thank you for your encouragement. I am glad you found some of the content useful.

    ReplyDelete

Post a Comment

Popular posts from this blog

On The Radar: India's Small-Cap Equities (Concluded)

We have been running a series of articles titled ‘Under The Radar: India’s Small-Cap Equities’ beginning in December 2011 - and followed up twice - with the last article in December 2013. We would like to conclude this series after updating the small-cap index level and returns, comparing it to our expectations ex-ante, and analysing the current scenario.  Following this, we have also outlined where we may take this blog in the future. The small-cap index closed at 11,087.07 on December 31 st , 2014.  This compares to a level of 6,150.65 in our last article – resulting in an advance of over 80% to date. This is a handsome absolute return by any standard, particularly compared to Indian government bonds, which yielded around 8-9% for the period.  This justifies the conclusion at the end of our previous article that “small-caps in India offer among the most attractive bargains during any time since 2006 and certainly in the entire Indian stock market today...
1 comment
Read more

IFB Agro Industries

IFB Agro Industries is in the business of producing alcohol (70% to 75% of revenues) and marine products. The company is based out of the state of West Bengal (WB), which is well known for its regressive attitudes towards businesses.  In the alcohol segment, it distributes ‘Volga’ vodka, ‘Jubilation’ rum, ‘Benjamin’ brandy (latter two launched recently).  Demand in the Indian Made Foreign Liquor (IMFL) appears to have a promising outlook with growth estimated at about 20% per annum.  It has also installed a new plant to enhance its country liquor production capacity since demand was outstripping supply – however, licenses weren’t granted by the state as at the end of last year.  In the marine segment, it distributes frozen marine products in the major metros through retail chains under the “IFB Royal” brand.  It also has a 48% market share in the shrimp feed trading business.  It had recently enhanced capacities in the marine division includi...
2 comments
Read more

Under The Radar: India’s Small-Cap Equities (Part Three)

In February of this year, we summarised the valuation parameters of the BSE Small-cap Index in India (now the S&P BSE Small Cap Index) - following on from an earlier report we wrote in December, 2011 - and drew certain conclusions. We would like to update the valuation scenario with the data today, review those conclusions, and form new ones based on the available information. The small-cap index closed today (17 th December, 2013) at 6,150.65 with an indicated price to book value of 1.04. The closing value as on February, 2013 was 7,006.73 representing a decline of over 12% as of today. The current index value masks a greater fall of over 27% to a low of 5,085.56 in August, 2013. This represents an unsatisfactory overall performance for those who invested in small caps at the beginning of the year. In our earlier report, we made two assumptions towards the end of our report to form a conclusion as to prices then:          ...
Post a Comment
Read more