Dear subscribers, this is a very tough market to be in. We hope that you are able to maintain mental peace till now.
The ability to think clearly in this panic situation is a very good edge and we want to share our thoughts to provide an overall direction in investing.
Three businesses where we find very good value at current prices
Founded in 1987 as Acrysil Limited, the company rebranded to Carysil Limited (Mcap 2000 Cr) in 2022 to align its corporate identity with its flagship brand. Carysil is a global leader in lifestyle kitchen and bath products and is one of only four manufacturers worldwide (and the largest in Asia) producing composite quartz sinks using advanced German technology.
The company has undergone a significant structural shift: evolving from a component manufacturer (quartz sinks) into a “one-stop solution” provider. Today, its portfolio includes quartz sinks, stainless steel sinks, built-in appliances (hobs, hoods, wine chillers), faucets, and luxury bathware.
Established in 1983, RACL Geartech Limited (formerly Raunaq Automotive Components), Mcap 1300 Cr, has evolved from a domestic-focused aftermarket player into a global high-precision engineering powerhouse. The company specialises in manufacturing transmission gears, shafts, sub-assemblies, and chassis components.
The organisation’s journey is defined by three distinct phases: RACL 1.0, which focused on the domestic aftermarket; RACL 2.0, where it pivoted toward exports and global OEM relationships starting in 2004; and the current RACL 3.0, which marks its transition into a technology-driven systems supplier capable of “Concept to Print” engineering. Today, RACL serves premium niche segments in motorcycles, passenger cars, EVs, and heavy commercial vehicles across Europe, Asia, and North America.
DMCC Speciality Chemicals Limited is a fully-integrated manufacturer of speciality chemicals with a heritage dating back to 1919, when it was India’s first producer of sulfuric acid and phosphate fertilisers. Presently, the company operates a balanced dual-business model centred on two core chemistries: Sulphur and Boron. Serving diverse industrial applications across 22 countries.
Incorporated in 2012, Accretion Pharmaceuticals Limited (Mcap 89 Cr) is a pharmaceutical company that manufactures and sells tablets, capsules, and other healthcare products. There are three main income sources for the company:Contract Manufacturing, Domestic Sales – Not their own brand, but manufacture for their customers, Direct export sales
Yasho Industries Ltd, Mcap 2000 Cr, established in 1985. The company, initially named Vasu Preservatives Private Limited, started production of specialty chemicals in 1993,and changed its name to Yasho Industries Private Limited in 1996. The company is in the business of manufacturing speciality and fine chemicals across different verticals.
Unihealth Hospitals Ltd, established in 2010, is a healthcare delivery company with a presence across India and Africa. Headquartered in Mumbai, the Company operates under the brand UMC Hospitals and provides tertiary and secondary care services through hospitals, medical centres, and specialised facilities.
They adopted an Asset-light growth strategy under the Design–Build–Operate and leased-hospital model that allows for scalable capacity addition with lower upfront capital investment.
This post highlights one of the reasons why we like the company. One of the primary reasons is all the qualities of the Management.
1. HUMILITY
Responding to a question on stagnant revenue (~INR 400 Cr for 3 years), Avinash humbly accepts the critique, attributes it to external factors (post-COVID turmoil), and expresses gratitude for navigating challenges, without excuses or overconfidence.
Established in 1982, Diffusion Engineers Limited (DEL), Mcap 1400 Cr, is a company that provides specialised engineering solutions primarily for heavy industries (cement, steel or mining).
Their core business revolves around “superconditioning”, which involves enhancing the durability and extending the lifespan of industrial equipment. This helps their customers keep their large machines and industrial plants running more efficiently and for longer periods, which is crucial for their profitability.
