Marcellus’ Consistent Compounders PMS defines its coverage universe based on a historical track record of consistent and healthy revenue growth and ROCE (returns on capital employed). The number of stocks in the coverage universe is around 30. Within the coverage universe, our research approach includes digging deep into understanding the DNA of these companies which helped them deliver the historical consistency. Based on such understanding of the DNA, we buy 10-15 stocks in our model portfolio of the PMS, where we have a high degree of conviction on the company’s ability to continue delivering healthy earnings CAGR over the next decade or longer, regardless of disruptive and evolutionary changes in the interim.