Industries

India’s Market Leaders: My 10 Key Observations

Posted by | Food for thought, Indian Markets, Industries, Investing Framework, Investment Gurus, Stocks | No Comments

My March’19 column written for Safal Niveshak’s ‘Outside the box’ newsletter One common advice I find veteran investors passing on to next-generation investors is to look for companies dominating their industry and enjoying entry barriers ensuring their profit pool share is protected. Now, ideally, we may think that the top 3-4 players by market share in any category should be qualified as ‘dominant players’ even if their respective market share is in single digit. However, for the purpose of this research, I have restricted my analysis to only those companies that enjoy at least a 35% share in their respective categories. You must be thinking that it is quite a stringent filter and there would only be a handful of companies that will make it to the list – after all, …

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Here’s what a customer visit to a Tanishq outlet tells you — that its financial statements won’t

Posted by | Business Models, Industries, Scuttlebutt, Stocks | No Comments

My February’19 Column Written For Moneycontrol The beauty about being in investing profession is that your mind is always curious and observing even when you aren’t ‘working’. Any occasion — a family holiday, house renovation or wedding — can effortlessly translate into scuttlebutt (primary research) where you experience so many products and services as a consumer, get to interact with dealers and also get to observe your family and other consumers engaging with those products and brands. I had one such wonderful experience recently. There was a wedding in my family and like all Indian weddings, it meant shopping jewellery for the couple, relatives, gifting, etc. My family and relatives have been traditionally dealing with two jewellers in our neighborhood who belong to same community (Sindhi) – one of them …

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[Video] Presentation on Wind Energy Revival & Proxies for Investors

Posted by | Industries, Investing Framework, Scuttlebutt, Stocks | No Comments

Presentation by Jatin Khemani, Founder & CEO, Stalwart Advisors on Wind Energy Revival & Proxies Presentation (Video): Notes to Video: 00:00 Introduction 00:40 Wind Energy – Journey 01:20 FY18 Regime Change 05:30 Old Regime Vs New 09:15 Coal Vs Solar Vs Wind 10:00 Visibility for FY19 12:50 India’s Energy Target 2022 14:20 Key Concerns 18:40 Q4FY18 Turning Point? 19:30 Proxies for Investors 20:58 Disclosures Presentation (Slides): For any queries or feedback, please write to us at support@stalwartvalue.com

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[Video] Thematic Research on Pollution & Actionable Investment Ideas

Posted by | Industries, Investor Meetup, Scuttlebutt, Stocks | No Comments

Presentation made by Jatin Khemani, Founder of Stalwart Advisors, during a conference organized by ‘Strictly Invest’ a group of around 150 passionate investors on 13th January 2018 in Mumbai’s Orchid Hotel. Presentation (Video): Notes to Video: 00:00 Introduction 01:00 Sneak peek in 2030 04:20 Pollution – A silent killer 05:40 Environmental Kuznets Curve 07:40 Sources of Air Pollution 09:20 New Emission Norms for India’s Thermal Power 11:00 Size of the Opportunity 12:45 List of companies to benefit 13:30 Top bet – GE Power India 15:20 Risk & Concerns 17:30 Other Proxies – Respirators & Masks 19:15 Other Proxies – Air Purifiers 20:15 Other Proxies – Pharma & Healthcare 20:40 Plants at Rescue 26:00 Disclaimers Presentation (Slides): FREE Access to research report on GE Power India & Scuttlebutt Note on Power …

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Is Real Estate Turning Around?

Posted by | Food for thought, Indian Markets, Industries | One Comment

If past history was all that is needed to play the game of money, the richest people would be librarians. — Warren Buffet What happens to a sector after a prolonged slowdown? – Mean Reversion? What happens to a sector when Government channelizes its resources behind it? – Grows Fast? What happens to a sector when there is a huge pent-up demand? – Tailwind? And what happens when all three coincide? Government seems to be seriously working towards achieving its stated goal of ‘Housing For All’ by 2022 which would require 20 mn new houses. Credit Linked Subsidy Scheme (CLSS) is a material development in that direction. Under this scheme, interest subsidy of 4 per cent on housing loans up to Rs 9 lakh for those who have the income …

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[Video] Talk delivered at FIL Alumni Meet, Pune – July 2016

Posted by | Business Models, Food for thought, Industries, Investing Framework, Stocks | 15 Comments

Recently I had the privilege of sharing my thoughts on investing with my fellow FIL Alumni at Flame University, Pune. The video, along with the presentation, is shared below. I talked about ‘India’s Consolidation Wave'; how the organized players stand a great chance to grow amidst an on-going shift in consumer preferences towards standardised and branded offerings. Video_India’s Consolidation Wave Notes on Video (Time 31:11) 00:00 Introduction 01:00 Drivers of Long-term Returns 03:00 Case Studies – Page Industries & Relaxo Footwear 04:30 Defining Unorganised Sector 05:50 Industry Research Filters Applied 06:40 List of Industries with high potential 24:45 Case Study – Decorative Paints (1980 – 2016) 26:48 GST: A big enabler 29:00 Value Migration Vs. Consolidation Wave 30:25 Summary Presentation_India’s Consolidation Wave For convenient reading switch to full screen mode – click the second …

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