Key Points
If you are looking for a compounder, our belief is that for people who have a 3-5 year view, this is a much better time than any to start if you have not already started to increase your investments, especially names, where you have done enough work..
Second, if you speak to India, Inc., a lot of ideas around acquisitions or capex seem to be muted now and that gives us hope that the returns in these underlying businesses will actually improve and that in turn will produce better returns for investors like ourselves..
Three years back if you asked any of us would either private or public sector financials see a 17% ROE in 2022 December, we would all have disagreed with you vehemently and so I think growth may be a little tepid compared to the first nine months, but that pocket looks pretty interesting and there are a lot of options to pick and choose from...
We have had so many instances in India in the past, in the past few years more so, where a business had some industrial, some consumer and some B2B where the consumer was spun off, they get a private equity guy in, runs it as a separate listed entity and the underlying engine play out much better than when it was a part of a conglomerate business...
The gamut is pretty vast and wherever one feels comfortable about the opportunities that exist, whether it is a small finance bank or the smaller private banks or the larger public or private banks, the opportunity is across the spectrum in that space...
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