Mid-Small Cap specialist | Equities | India, Nurture Capital Advisory

Nurture Capital Advisory

We are a Buyside outfit and also offer Advisory services. Most notes published here are written for our consumption. These notes offer readers a perspective of our approach to scanning sectors and distilling ideas to constructing a bottom-up Equity portfolio. 

Combining top down and bottom-up approaches to identifying themes/ value stocks at inflexion
Sector agnostic | Value oriented - Inflexion approach | Bottom-Up Ideas
Biased towards Sustainability, ESG
Team is Wall Street Journal, ET Now - Star mine Lipper, Asia money rated.

Mid-Small Cap specialist | Equities | India

Equity Bottom-Up

Gujarat Ambuja Exports / Equity Bottom-Up

<ul>
<li>Company holds pole position in corn starch processing in India with ~ 25% market share; but accounts for a significant share of industry’s profit pool. </li>
<li>Further expanded capacity by 40% (1200tpd) just last week and another 25% expansion is planned for Q4FY24E, the 60%+ capacity expansion will drive volume led growth forward.</li>
<li>Cost pressures (commodity, energy) to abate in FY24E. Formidable player, capital efficient business, cost leadership, net cash stature, low valuations(&lt;10x PER, &lt;1x EV/Sales), favors investment.</li>
</ul>


Company holds pole position in corn starch processing in India with ~ 25% market share; but accounts for a significant share of industry’s profit pool. 
Further expanded capacity by 40% (1200tpd) just last week and another 25% expansion is planned for Q4FY24E, the 60%+ capacity expansion will drive volume led growth forward.
Cost pressures (commodity, energy) to abate in FY24E. Formidable player, capital efficient business, cost leadership, net cash stature, low valuations(&lt;10x PER, &lt;1x EV/Sales), favors investment.
