Few of my learnings as an investor in 2022. A thread. 🧵 1) Investing is simple but not easy. It is very hard to become a long-term investor. Sometimes, it can be a lonely road especially when your hypothesis gets tested again and again

cont..

🧵Thread.

Tribute to Rakesh Jhunjhunwala sir by @omkaracap

60 inspiring quotes & learnings from RJ sir

RT for maximum reach

🧵Thread.

Tribute to Rakesh Jhunjhunwala sir by
@omkaracap

60 inspiring quotes & learnings from RJ sir

RT for maximum reach

🧵Thread.

Tribute to Rakesh Jhunjhunwala sir by @omkaracap

60 inspiring quotes & learnings from RJ sir

RT for maximum reach

General Q: Why talks of US banning Russia oil imports?

Simple Answer: US does not get impacted economically

Sadly, it is about politics over peace talks/ effort Fact check: US imports only 3% oil from Russia

US Oil imports from Russia in 2021, at $4.71 billion, is a 45% decline from a decade ago.

Results declared on 2nd Nov #excelgiri #resultsxray

PS: Use ur own wisdom, view on results can vary person to person. I am still learning Strong results
Ramco Cement
Ebidta/ tonne near 2000
Sales down 4.4% yoy, Ebidta up 49% yoy, Pat up 42% yoy
Volume miss; realisations spiked 17% YoY (a major surprise)
Jefferies: raise FY21 EPS by 60%, retain Rs1,000 PT
TTM PE at 35, 12% roce

Results declared b/w 30th Oct - 1st Nov #excelgiri #resultsxray

PS: Use ur own wisdom, view on results can vary person to person. I am still learning Max Life: Solid results
VNB margins surprise
Market share improved to 11.1%, highest in decade
Clarity on axis-max deal
19% to to split in 3 ways
Axis Bank to acquire 9% stake in Max Life
Subsidiaries will jointly acquire 3%
Further, the group entities will acquire 7% later

Personal Update: After a journey of learnings of decades compressed in few years, I am moving on from Pantomath. As the saying goes ‘I am not sad that it is over. I am happy that it has happened'. Today, I enable myself to paint on my life’s canvas, a future the way I want to 🤞 Happy to share the PMS performance which has done reasonably well…thanks to #APIs #Chemical #Platform businesses. Thank you @pantomath_group for giving me a chance.

Some keep takeaways from @Iamsamirarora paaji

Buy right – sit tight?
Everybody brainwashes u when u start by reading all WB books
Absolute wrong to imagine that stock will go up 20-30 times in 20 years
U r buying stocks for 1-3 years and if its does well – u r holding it

https://twitter.com/mbhagwatr/status/1310119691650695169

Learn to reject (same view expressed here: )

All you know is bad management and bad history – u don’t know about good management
You can only know bad things about cos or management
A large cos do well – focus on rejecting cos

Analysis of all results reported on 10th Aug with
@AnilSinghvi_ on @ZeeBusiness

PS: Data for education purpose only, use ur own discretion. Views on results may wary as per individual analysis Analysis of all results reported on 10th Aug with
@AnilSinghvi_ on @ZeeBusiness

PS: Data for education purpose only, use ur own discretion. Views on results may wary as per individual analysis

Analysis of results reported on 5th Aug 2020 with @AnilSinghvi_ on @ZeeBusiness

PS: DATA for education purpose only, use ur own discretion. Views on results may wary as per individual analysis Analysis of results reported on 5th Aug 2020

PS: Data for education purpose only, use ur own discretion. Views on results may wary as per individual analysis

Analysis of results declared on 4th Aug 2020

PS: Data for education purpose only, use ur own discretion. Views on results may wary as per individual analysis Analysis of results declared on 4th Aug 2020

PS: Data for education purpose only, use ur own discretion. Views on results may wary as per individual analysis

Analysis of results declared on the 24th & 25th July 2020 with @AnilSinghvi_ on @ZeeBusiness

PS: Data for education purpose only, use ur own discretion. Views on results may wary as per individual analysis. GOOD results declared on the 24th & 25th July 2020

All results declared on 14th July 2020 #excelgiri
#resultsxray with @AnilSinghvi_ on @ZeeBusiness

PS: Use data at ur own discretion

GOOD
ICRA: Sales up 4%, ebidta up 19%, PAT up 32% (27x p/e, 3.7x p/b) All results declared on 14th July 2020 #excelgiri

WASH-OUT QUARTER
Oberoi Realty June end
Sales down 80%, EBIDTA down 75%, PAT down 81%
TTM P/E 22, P/B 1.6x

Century Textiles June end
Sales down 34%, EBIDTA down 89%, reports a net loss at 40 cr (TTM P/B 1)

All results declared on 30th June 2020 # excelgiri with @AnilSinghvi_ on @ZeeBusiness

Pataka Results

Cupid: sales up 16%, ebidta up 130% at 15 cr vs 6 cr, margins at 35% vs 17.5%, pat at 10 cr vs 4 cr (8x, 28% roce) - Debt free, Promoter holding: 45.06 %, zero pledge All results declared on 30th June 2020 # excelgiri
VV GOOD

KSE Ltd: sales up 25%, ebidta profit at Rs 25 cr vs loss of 6 cr, profit of 19 cr vs loss of 4 cr (10% roce)

Chamanlal Setia: sales flat, ebidta up 242% at 31 cr vs 9 cr, margins at 13.7% vs 4%, pat at 21 cr vs 3 cr

All results declared on 29th June 2020 #excelgiri

V Good
Bharat Dynamics: sales up 64%, ebidta up 2.3x, pat up 1.5x (16x p/e, 2.3 p/e) (q is whether this will be consistent)

N R Agarwal: sales down 7%, ebidta up 86%, margins18.7% vs 9.3%, pat 37 cr vs 14 cr (29% roce, 4 p/e) All results declared on 29th June 2020 #excelgiri

V GOOD
Linc Pen &Plast: sales down 5% but ebidta up 48%, margins 11% vs 7%, pat 5 cr vs 1 cr (15x)
7 years sales 300 to 400 cr
Margins 5% to 10%
Cfo highest in 2019

Weekend results summary with @AnilSinghvi_

Pataka Results
West coast paper: sales up 40%, pat doubles (4.3x, 27% roce), trading below BV of 196…no pledge, d/e 0.47

Hudco: sales up 28%, pat up 87% (p/e 3.2x)..book value 61 (LTP was 28)...GNPA ratio at 3.8% vs 4.98%QOQ

https://twitter.com/varinder_bansal/status/1277434539032231936

Weekend results summary with @AnilSinghvi_
PHUUUUUUUUUUUUUS RESULTS

Excel Ind: ebidta down 58%, margins 12.8% vs 26.2%

Som Distilleries: reports ebidta loss

Federal-Mogul Go: ebidta down 51%, pat down 87% (45x)

Rupa & co: sales down 55%, ebidta down 85% (16x)

Key learnings from Naren
Global central banks are strong, have vested interest that equity goes up – do not fight with them
Asset price inflation > consumer price inflation makes everyone happy but leads to deflation

https://twitter.com/_nirajshah/status/1275471177410985991

Key learnings from Naren
Cycles determines whether u make big money in equity markets
Early/ boring part of cycle in midcap & small-cap space in India
Rental yields > mortgage interest rates = good indicator to invest in real estate

All results declared on 26th June 2020 #excelgiri
Over 200 results declared 😅

Pataka Results
Hudco: sales up 28%, pat up 87% (4x)
West coast paper: sales up 40%, pat doubles (3.8x, 30% roce) All results declared on 26th June 2020 #excelgiri

Good
ITC: special dividend
Glenmark: ebidta up 28%, pat up 36% (18x)
Hind Food: sales up 65%, ebidta up 146% (78x)
CESC Ventures: ebidta up 30% (cmp 171, BV 876)
Rubfila Intl: sales up 20%, ebidta up 25% (9x, 18% roce)

All results declared on 25th June 2020 #excelgiri

Apollo Hosp: Good
Ashok Leyland: better vs exp
CONCOR: mixed; sales down but margins improve All results declared on 25th June 2020 #excelgiri

Good
JB Chem: ebidta up 40%
Garware Polyest: ebidta up 55%, pat up 23%
INEOS Styrolut: ebidta 22 cr vs loss earlier (but 115x ??)

Not bad
HAL: sales flat (high TR needs to watched – 11500 cr)

All results declared on 24th June 2020 #excelgiri
Good
Sharda cropchem: margins 18.7% vs 10.3% QoQ
Bannari Amm.Sug: sales up 69%, ebidta up 33%
H.G. Infra Engg: ebidta up 15% (8x)

Not Bad
PNC Infra: sales up 6% (5x)
Esab India: ebidta up 3% (30x)
Indoco: ebidta up 17% (80x) All results declared on 24th June 2020 #excelgiri

Weak Results

Asahi India Glass: sales ⬇️17%, ebidta ⬇️25%
India cements: ebidta ⬇️61%
Tide water oil: sales ⬇️17%, ebidta ⬇️29%
India Glycols: ebidta ⬇️12%,pat ⬇️33%
Astra micro: margins 8.4% Vs 25% QoQ (vs 17% yoy)