Sector analysis

Jubilant Ingrevia, business mix shift

Revenues and margins peaked out in FY22, due to headwinds in chemical industry which came from – channel de-stocking and China dumping in agro. Also experienced fall in base business of acetic anhydride as volumes and price in end user demand of paracetamol fell. Company remained optimistic about future opportunities and continued with their growth …

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‘Outlook of recession in the developed world!!’ Understanding the why, and it’s impact on India.

Today is an attempt to understand the relationship between liquidity and interest rates – their correlation with bonds and equities, and what to expect in coming times.  I have been overly optimist about the markets since I have entered, with too much faith that in the long term the markets will only reward. But now …

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Banking cycle and it’s impact on portfolio companies

Banking cycle and it’s impact on portfolio companies Having observed a few events in the past couple of years has helped me understand the banking cycle better. This is how the past 5 years of the industry added up to my understanding. Source: A Rough Book The gist is we are entering a fresh capital …

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