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We’re #InvestorFirst

  • Investor’s Focus

  • Absolute Returns

  • Making Money

  • Long term Horizon

  • Keeping Costs/Churn Low

  • Investment Manager’s Focus

  • Outperforming Benchmark

  • Managing Money

  • Flavour of the Season

  • Disregarding Costs

Adopting a Concentrated Portfolio Approach

  • Universe
    400-500 Companies (based on Quality Filter)
  • Focus
    150-200 Companies (based on Growth Filter)
  • Core
    30-50 Companies (based on Valuation Filter)
  • Portfolio
    8-12 Companies with high growth potential

What goes into Finding the Right Stock

Opportunity Size
  • Rich in possibilities
  • High earnings growth
  • Longevity
  • Predictability
  • Sustainability
Competitive Advantage
  • Network
  • IP
  • Regulation
  • Brand
  • Cost structure
  • Switching costs
Scalability & Sustainability
  • Reach
  • Replicability
  • Multiplicity of growth drivers
  • Market adjacencies
  • Technology adoption
Management Traits
  • Scrupulous
  • Competent
  • Aligned interests
  • Efficient capital allocator
Asymmetric Risk-reward
  • Future possibilities
  • Operating leverage
  • S-curve
  • Variant perception
  • Numbers v/s Narrative

4 Step Research Process

  • Connect dots

    Thematic views based on annual reports, on-ground reports and competitive analysis.

  • Filter

    Look at basic hygiene factors and any deal breakers

  • Investigate

    360-degree approach to understand on-ground situation

  • Risk-reward

    What do we know that market does not?

ValueQuest Secret Sauce

Efficient and scalable growth enablement requires maturity in six key focus areas that can differ from company to company.

  • Lack of stable governance, clear hierarchies and transparent decision making processes can lead to major challenges in scaling.

    Governance needs to be prepared for scaling and growth.

  • Organizational structures and functional operating models, that allow efficient operations while the organization is continuously changing, need to be defined and executed.

    Structural requirements for growth need to be defined.

  • Technology and IT infrastructure are the backbones of the companies. Outdated technology and IT infrastructure might put business opportunities at risk.

    Technology can’t handle upcoming demand.

  • Experienced employees and executives need the right skillsets within capability units. Jobs are changing and so are the required skillsets and capabilities.

    Shift of required capabilities.

  • The company culture has to be adapted to suit the growth activities. Missing change initiatives can lead to frustration and demotivation among employees.

    Change of company culture

  • Strong partners play a significant role to ensure healthy growth and secure the company’s success. Efficient partner management ensures leveraged scaling results.

    Need for efficient partnering

Never buy on impulse, hold in hope and sell in panic.

- Kalpraj Dharamshi

Strategies