Consistent Compounders

Portfolio performance and update on Fundamentals

*For relative performance of particular Investment Approach to other Portfolio Managers within the selected strategy, please refer https://www.apmiindia.org/apmi/WSIAConsolidateReport.htm?action=showReportMenu Under PMS Provider Name please select Marcellus Investment Managers Private Limited and select your Investment Approach Name for viewing the stated disclosure   Consistent Compounders Portfolio (CCP) In our recent CCP newsletter (click here ) we highlighted that long periods of […]

Mar 21 . 7 MIN READ
Consistent Compounders

Marcellus Portfolio Snapshot and Update on Fundamentals – January 2024

  *For relative performance of particular Investment Approach to other Portfolio Managers within the selected strategy, please refer https://www.apmiindia.org/apmi/WSIAConsolidateReport.htm?action=showReportMenu Under PMS Provider Name please select Marcellus Investment Managers Private Limited and select your Investment Approach Name for viewing the stated disclosure   Consistent Compounders Portfolio (CCP) For the quarter ended December 2023 (i.e. 3QFY24), earnings growth of […]

Feb 19 . 8 MIN READ
Consistent Compounders

Marcellus Portfolio Update and Performance Snapshot – December 2023

  Consistent Compounders Portfolio (CCP) Calendar year 2023 ended with Marcellus’ CCP portfolio generating 16% returns with 6% underperformance against Nifty50 TRI, supported by a recovery in performance from April 2023 onwards (1st Apr 2023 to 31st Dec 2023 performance was 28%, marginally better than Nifty50 TRI). The top-5 stocks in Nifty were Tata Motors, Bajaj Auto, […]

Jan 16 . 15 MIN READ
Consistent Compounders

Portfolio Performance and Update on Fundamentals

  Consistent Compounders Portfolio (CCP) Companies in our Consistent Compounders Portfolio generated median PAT growth of 24% YoY in 2QFY24 and 27% YoY in 1HFY24. This acceleration in PAT growth is an outcome of both: a) accelerated market share gains and improved operating efficiencies as an outcome of capital allocation decisions taken over the last […]

Dec 18 . 9 MIN READ
Consistent Compounders

Portfolio Performance and Update on Fundamentals – Oct 2023 – Marcellus

Consistent Compounders Portfolio (CCP) Our portfolio companies’ reported fundamentals in 2QFY24 continue to demonstrate strength and consistency – portfolio’s revenue growth was 22% YoY and EPS growth was 28% YoY in the quarter ending 30th September 2023. Several of our portfolio companies reported revenue growth rates, significantly healthier than other players in the same industry. For instance, […]

Nov 16 . 6 MIN READ
Consistent Compounders

Portfolio Performance and Update on Fundamentals September

Consistent Compounders Portfolio (CCP) Despite volatility in the external economic and geo-political environment, Marcellus’ CCP companies have historically delivered consistency of revenue growth and profit growth. We expect this consistency to sustain in the foreseeable future as well. Additionally, over the last few months, we have seen a rise in competitive intensity through new entrants […]

Oct 17 . 11 MIN READ
Consistent Compounders

Portfolio Performance and Update on Fundamentals August

Consistent Compounders Portfolio (CCP) Marcellus’ Consistent Compounders Portfolio companies reported, on a weighted average basis, 20% YoY growth in profit after tax for both 1QFY24 (over 1QFY23) as well as for FY23 (over FY22). Financials sector companies in CCP (three lenders and 2 insurance companies) reported healthy topline as well as bottomline growth, reflective of […]

Sep 18 . 9 MIN READ
Consistent Compounders

Portfolio Performance and Update on Fundamentals July

  Consistent Compounders Portfolio (CCP) Fundamentals of CCP companies have delivered healthy progress in FY23, with weighted average PAT (profits after tax) growth of 20% YoY in FY23, backed by a revenue growth of 19% YoY in FY23. 1QFY24 results reported so far have exhibited exceptional strength, representative of market share gains from competitors and […]

Aug 16 . 5 MIN READ
Consistent Compounders

Portfolio Performance and Update on Fundamentals – June 2023 – Marcellus

  *For relative performance of particular Investment Approach to other Portfolio Managers within the selected strategy, please refer https://www.apmiindia.org/apmi/WSIAConsolidateReport.htm?action=showReportMenu Under PMS Provider Name please select Marcellus Investment Managers Private Limited and select your Investment Approach Name for viewing the stated disclosure Consistent Compounders Portfolio (CCP) Fundamentals of CCP companies continue to deliver healthy progress, as reflected in […]

Jul 27 . 8 MIN READ
Consistent Compounders

The Consumerization of Credit in India

In the last couple of years, India’s financial services sector has crossed a significant milestone – for the first time the size of retail credit (i.e. credit extended to consumers) is now larger than corporate credit. In this newsletter, we discuss reasons behind the success of high-quality lenders (like HDFC Bank, Chola Investment & Finance […]

Jun 06 . 10 MIN READ

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