Temporary Closure Of This Blog

Hello Readers,

On account of other personal commitments, I am not able to spend enough time in stock markets nowadays. In such cases, it would not be ethical if I am post something without enough study, which could misguide readers.
Hence it would be better if I stop putting in new ideas. We have already seen that happening with last post on this blog, where I missed many angles which could prove negative for the stock.
Off-late, one also might have observed that I am not able to answer queries of many readers.

It was a wonderful journey so far, and thanks for all your support. Each of your queries led to further increase in my knowledge. Special thanks to totalview, who was almost a co-owner of this blog, with his highly clever viewpoints.

Going ahead, if I am in a situation, where I have enough time to spare, I will surely do that again.

Thanks once again!!!! 

Gujarat Foils - Will Patience Pay Someday?

Gujarat Foils Ltd. is a part of the $7 Billion company, Topworth Group, and is the third largest manufacturer of aluminium foils and sheets in India. The company covers the entire range of products from thin gauge sheets and coils for closure stock used in the Brewery and Pharmaceutical Sectors to bare foils like Fin stock for heat exchanger fins, tagger and lidding foil for the Food & Beverage Sector, as well as consumer house foil.
From an installed capacity of 3400 TPA for sheet/coil in 1992, the company has reached a capacity of 12600 TPA today.

The company's manufacturing plant is located at GIDC, Chhatral, Kalol, Gandhinagar, Gujarat and manufactures aluminium rolled products (Sheet & Foil). The total plot area of this plant is 20,000 sq. mtrs. that includes a 9,000 sq. mtrs. built-up area within for sheds, office buildings, canteens and quarters.
The company also has 20,000 sq. mtrs. of land in Kutch area for a wind mill, and 100,000 sq. mtrs. of land near Dist. Viramgam reserved for future expansions.

As per the annual report, Consumer Products Business division has shown very good growth. Nutriwrap as a brand has strengthened itself among the top brands with national footprint. The division has maximised growth vide improvements in distribution penetration across town classes. Product portfolio has been enhanced. The base building work done provides a good platform for performance in the immediate future.
Aluminium is going through a difficult phase, globally. But, the aluminium market in India is still growing at a rate of 9 to 10% over the last five years and it is going to remain so in the near future.

The biggest positive is that  the Indian pharma companies, with the faster commercialization of product filings due to Generic Drug User Fee Act implementation, will be able to launch their products quickly as a result of shorter approval time. With this, Indian pharma companies will be pushing their products aggressively in regulated markets. With this aggressive approach, pharma industry is expected to do much better than anticipated resulting in further improvement in prospects of pharma packaging industry.

Here is the list of Company's Pharma Cleints:
1. Lupin
2. Sun Pharma
3. Macleods
4. Aurobindo
5. Cadila Pharma
6. Inventia/ Pharose Remedies
7. Impactlabs
8. Anglo French
9. Hetero Drugs
10. Zydus Cadila
11. Ipcalabs
12. Torrent Pharma
13. Ajanta Pharma
14. Granules India
15. Fourts India
16. Caplin Point
17. Alkem Laboratories

Major Risks:
1) Company is currently having very high debt, due to nature of business. The Debt:Equity is more than 2. However, the good thing is that, the debt has not increased for past 3 years. Also, the credit rating agency CARE has been continuously revising its bank facilities as the company's performance has kept on improving.
Here is the latest revision on Mar 11:
http://www.indian-commodity.com/corporate/care-revises-ratings-of-gujarat-foils-bank-facilities.aspx

2) With the Foil Industry showing signs of growth, number of new entrants are already there and more will be further coming in this sector. Cheap import from China after withdrawal of anti dumping duty resulting in cost competition in the Indian Market.

3) Due to the nature of business, and high capital requirement, the company is not paying any dividend in spite of making decent profits.

Talking about numbers, for the nine months ended Dec'14, the company has shown growth of 24% in sales and 33% growth in net profit, The company is likely to end the year with annual EPS of around 14, which means the stock is currently trading at a P/E ratio of less than 5. However, the above mentioned risk factors has been somewhere responsible for such valuations.
CAGR for last 5 years in sales has been 42% and about 101% in net profit which is an incredible achievement in such industry. It is also very tough to maintain good operating cash flow in such businesses. However, if one checks the data for past 2 years, it has been excellent.

Overall, the only questions remains, is that whether the strong numbers will overcome the risk factors in long term? If yes, then we could see a very strong re-rating in the counter, as the market cap of the company is still  a meager 50 Cr, for a company which is likely to post close to 500 Cr sales this year.
Keeping a belief in fundamentals along with good management, I am positive on company's future.
However, it is advisable that readers goes through all the details and take his/her own decision based on his/her risk profile, or if required, also after consulting finance expert.

Q3 FY'15 Result Updates - Ricoh India, Gulshan Polyols, Dynemic Products, Plastiblends Ind, Control Print and Swiss Glascoat

I will be coming up with a discussion on new stock in next week mostly, as the study is not yet over.

1) Ricoh India:
Another fantastic set of numbers by the company, where they showed a very good growth on topline and more importantly, turnaround in profits. We had a good discussion about the numbers in comment section of last post especially by totalview.
It seems that failure of delisting proposal, proved to be a boon for investors like us, and it is likely to continue its performance, which is evident from some of the links shared below
Ricoh India to open 15 experience zones
See RICOH India’s profit margins at 15-20% over next five years: Manoj Kumar, EVP & CFO
HCL Learning Enters into a Strategic Partnership with Ricoh India
The stock has already turned into almost a 10 bagger since its first discussion on this blog. Because of heavy rally after the results, it may show some sideways movement but over period of time, it is still not a bad option.

2) Gulshan Polyols:
Once again, we have a company, where the results exceeded the expectations of many, and it was evident from the rise seen in stock price after results. The stock has risen almost 40% since the company came out with excellent results.
The company posted highest ever sales with a growth of 39%. On top of it, net profit rose by 64%.
As per press release, export of two turnkey Onsite PCC and WGCC projects to Bangladesh also contributed to PAT.
Company's Brand TIGER GOLD Whisky and Rum is being well accepted by the consumers in the state of M.P. Company has also registered another Brand GOLDEN DEER Whisky and Rum. It has plans to launch many brands in this segment to increase the volume,
Even at this appreciated price, the company is still trading at around P/E of 10 based on possible earnings for FY'15, which still leaves plenty of scope for them to grow in their market cap.

3) Dynemic Products:
Drop in export sales led to mild decline in sales yoy. which was highly unexpected from the company which has delivered pretty good growth so far. Such unexpected numbers led to a heavy drop in stock prices, and it proved to be a fact that the decline in price even before the results was on account of some informed investors/traders, who might have had a brief overview of coming results.
In an update later we saw that the Company has undertaken and completed the expansion project in Unit I for manufacturing Sodium Naphthionate and N.W. Acid which are also basic raw material for the Company's product. The commercial production of this expanded plant has been started.
The project might help company improve their margins further.
Somewhere, I always have a feeling that just 1 bad quarter, can't be conclusive of company's future. Let's wait for annual numbers coming next quarter, and then decide.

4) Plastiblends Ind:
Nothing so positive, nothing so negative about the numbers posted by the company. Absolutely flat sales as well as net profit. However, with company likely to post an EPS of more than 20 this year, the valuations are not quite expensive in my opinion.
On the positive side, Plastiblends India is investing $10m in a new factory in Gujarat.
The company have already procured the land and within a year the plant would commence production. The factory, in the city of Surat, would likely start with 30,000 metric tons of annual production, with the ability to expand to 100,000 metric tons, likely within five years.
Also, the company is targeting a fourth masterbatch production facility, in the eastern city of Kolkata. That facility will have a capacity of 15,000 metric tons a year.
Overall, I am still positive on the company.

5) Control Print:
I think lots of areas of discussion regarding Control Print has already been discussed in the original post as well as in comments section of various post.
So, just talking about numbers, it was another good performance by the company, where it showed the sales growth of 18% and net profit growth of 25%. It has kept on posting such growth consistently, and doing so going ahead, will certainly lead to further rise in stock price, in spite of tremendous run up in past 1 year.
Another positive from the company seen with the fact that company has paid an interm dividend, which means we can expect dividend twice this year. For such a small organization, this is certainly a good progress. Still positive on it.

6) Swiss Glascoat:
The discussion on the company has been recently initiated here, and unfortunately the first set of numbers after that has not been good. The company saw a decline in sales as well as profits, which is not good to see. However, as discussed in the post, there are lot many positives about the company, which forces me to wait for some more time, before taking any decision on change in position. Because of such poor set of numbers, the stock price has come down to levels when it was first discussed here after almost 40% rise. However, investors with some risk potential can certainly consider this company after looking at the overall data.

Happy Investing!!!

Q3 FY'15 Result Updates - Ganesha Ecosphere, Flex Foods, Garware Wall Ropes, Camlin Fine Sciences, Munjal Auto, Dhanuka Agritech And Suven Life Sciences

Off-late, if one has observed, I have stopped discussing about Can Fin Homes and Dewan Housing, as both of them have now became a very stable organization, and they are likely to continue their good performance over the years, with their prices expected to continue giving steady returns over a period of time. Can Fin Homes was first discussed when it was trading around 140 Rs and Dewan Housing was first discussed when it was trading around 158 Rs here:

http://fundamentalstockideas.blogspot.in/2013/06/few-more-multibaggers-for-long-term.html

Since then, both have already given great returns. As both being very stable now, one can easily take his/her decision on these 2 companies.

1) Ganesha Ecosphere:

The result this quarter remained muted but that doesn't seem to be a big worry, as far as future growth is concerned. For the nine months ended Dec'14, the sales have grown by 35%, but profits have remained in check on account of almost 6 times higher tax and almost double finance cost. If one looks at EBIDTA numbers, then the profit has also gone up by 27% for first nine months, which is not at all bad.

On top of it, as per the press release, the company said that the commercial production of Recycled Polyester Staple Fibre (RPSF) has been started at Company’s unit situated at Temra, Bilaspur, Distt. Rampur (U.P.), w.e.f. 01.12.2014. The unit is having installed capacity of 21,000 TPA and taking this into account the consolidated RPSF capacity of the Company will reach to 87,600 TPA.

Also, the company gets further encouragement looking at the fact that the new jersey of Indian Cricket Team for the World Cup 2015 is made from recycled plastic bottles:

http://www.sportskeeda.com/cricket/indian-cricket-team-new-jersey-33-recycled-plastic-bottles

Overall, I continue to be positive on the company for long term.

2) Flex Foods:

Again, we have a company, which has kept on growing in sales, but failed to show good profits, which has got plenty of traders/investors go against it. However, once again, if we look at results of nine months, sales are up by 19% and profit up by 24%, which is again, not bad. The company is likely to end the year with EPS of close to 10, which will make it look very cheap at current market price. However, it is not necessary the investors will definitely reward it, on account of some poor reputation of management among investors/traders, but definitely it is worth considering for investment, if one has some risk potential.

For safe investors, it is advisable that they take their own decision based on their risk profile after looking at overall data.

3) Garware Wall Ropes: 

Good set of numbers posted by the company, except slightly lesser growth than expected. Sales for the quarter grew by 9% and profit by 45%. For the nine months, the sales have gone up by 18% and net profit by 60%, which is good going by the company, especially in tough sector.

Not much to comment or update here, as company seems to be on track. 

Still positive on the company.

4) Camlin Fine Sciences:

This company has been a revelation. It has certainly gone up way beyond my expectation, especially, after I first wrote about it in Feb last year. At that time it was trading at 12 Rs (adj to stock split):
http://fundamentalstockideas.blogspot.in/2014/02/camlin-fine-sciences-hidden-player-in.html
It is expected that the company will report very good consolidated numbers at the end of the year, and hence flat to positive standalone numbers were not affecting its journey. However, the standalone numbers this quarter did look amazing with sales growing by 19% and profit by 41%. This led to another rally in stock price, along with listing of company's shares in NSE, which added fuel to fire.
Good to see that company gave a highlight of consolidated numbers this time, which is looking decent.
It is tough to judge the stock at current market price, especially after seeing it go up by 8 times in past 1 year. However, based on its possible future growth and market share of its anti-oxidants, I continue to remain positive on the company.

5) Munjal Auto:
First time in many years, I have seen the company reporting flat sales, which raises few concerns. But there are lot many positives about the company, which forces me to be still positive on it before being judgmental based on just 1 quarter numbers.
The company has very reputed management with good client tele, They have very consistent profit growth for past 5 years. ROE over many years has been really good. Their approach towards investors by paying good dividend over the years and many more. All these data, keeps me still hopeful and positive about the company and its possible good growth in future.

6) Dhanuka Agritech:
Not much to comment about the numbers this quarters, as it is expected to remain flat. But still, the company does not fail to deliver at least some growth as far as topline and bottomline are concerned which is good to see.
On account of poor rain this year, the company cut its revenue growth guidance to 7-8%, which is fair especially after poor rainfall in most parts of the country this year.
On positive side, the company just launched one more product, which could cut the farmers cost by half:
http://economictimes.indiatimes.com/news/economy/agriculture/dhanuka-agritech-launches-herbicide-for-sugarcane-crop/articleshow/46200486.cms
Considering the fact that stock was recommended around 158 Rs, and it is now trading at 520 Rs with a high P/E, it would fair enough to assume that I would be neutral on stock.

7) Suven Life Sciences:
The stock has already turned 10 bagger since its first discussion on this blog here:
http://fundamentalstockideas.blogspot.in/2013/06/few-more-multibaggers-for-long-term.html 
The company has very strong fundamentals which has led to this rally, plus their concentration on CRAMS business, which is one of the most profitable business in pharma industry. The market capitalization of the company has already crossed 3000 Cr, which is good to see.
It seems that the stock has entered the league of safe stocks, which can be considered for steady returns with lesser risk.
However, after such levels of appreciation in past 1.5 years, it is advisable that readers take their own call based on their risk profile.

Q3 FY'15 Result Updates - SSWL, Somany Ceramics, TCPL Packaging, Ajanta Pharma and Granules India

1) Steel Strip Wheels:

The performance of the company has been improving slowly, and it seems that the worst is certainly over, which was predicted in the original post here:
http://fundamentalstockideas.blogspot.in/2014/07/steel-strips-wheels-ltd-sswl-seems-to.html

The company again came out with decent set of numbers with sales increasing  by 7%. The sales figure didn't looked bad considering the decline in growth for the month of Oct on account of more holidays in that month with festival of Diwali and Dusherra. Plus there was a shut on account of elections in Haryana and Maharashtra. So overall, I feel numbers are looking decent. As per management, SSWL is looking at a volume growth of 16-18 percent for the full year and turnover of around 15-16 percent.
The company is likely to achieve an annual EPS of close to 25, so I don't think the stock is too expensive even at current levels. However, debt levels has been increasing because of nature of business and is the only worry right now. Promoters increasing their stakes is also a positive.

One expert view on the company is also shared on left hand side panel.

2) Somany Ceramics:

Though expensive, the company is growing stronger and stronger, and proving that the given higher valuations are justified, and there is further room for more growth in terms of revenues as well as market cap.
Sales were up by 31% and net profit up by 131%.
Not thinking of commenting much, but sharing few links which speaks a lot about the positives of the company:
Confident of achieving 20% growth in FY15
Somany Ceramics’ new campaign focuses on brand promotion
Somany Ceramics to add 30 mn sq metres capacity in 5 years, scouting for JVs
Swatch Bharat Abhiyan Will Help Sustain Growth — Somany Ceramics

Overall I am still positive on company's prospectus, but on account already existing higher valuations, it may take some time to reward further as far as stock price is concerned.

3) TCPL Packaging:

The stock has given unbelievable returns in very short time since its recommendation here:
http://fundamentalstockideas.blogspot.in/2014/06/tcpl-packaging-probable-candidate-to.html

The results after that has been fabulous which has led to this rally, and once again it did not disappoint. The sales went up by 28% and net profit went up by 169%. If one takes a look at past 2-3 quarters result, they have significantly improved their operating efficiency, which has reflected in their amazing growth in profits. An annual EPS above 30 this year is very likely now, and because of which the stock, even after such rally, is still trading at a P/E ratio below 15, based on expected FY'15 numbers.
At present valuation, I would remain neutral to positive on the company.

4) Ajanta Pharma:

I have no words to describe this company. As I said earlier also, this is one company, which a new entrant can use to learn as an ideal company. Sales once again grew by 21% and profit by 36%.
The company has been able to maintain net profit margins above 20% for past many quarters consistently, which further enhances my confidence in the company.
We have seen company growing from being a small cap to a mid cap company, and if the growth pattern continues this way, I am sure, we will see Ajanta Pharma as one of the major large cap pharma company of India.
Company has approved sub-division of equity shares from face value of 5 earlier, to face value to 2 now. I am still highly positive on the company and their future growth.

5) Granules India:

Flat numbers this time were expected as per recent management interviews, where guided 15% growth in FY'15, even after very good Q1 and Q2. To an extent, there was some production loss due to cyclone in Vizag. The sales grew by 13% and profit by 8%. Lesser growth in profit, was mainly on account of loss through Auctus Pharma.
As per management, Auctus Pharma is expected to post profit in next quarter. Also, they are expecting the company to grow at 26% next year. The Omnichem JV is currently going through clinical trials, and it expected to contribute about 50 Cr in next 2 years or so. This will be very important for the company as Omnichem JV is focused on CRAMS business, which is probably the highest margin business in pharma industry. Also, the company is focusing more towards Finished Dosages, and they are aiming to achieve 65% of their revenues for FDs in next 2-3 years, which indirectly, will improve their margins for standalone business as well.
Overall, if one has a long term view, the company is not trading at high valuation.

I have given my views on the results of above companies, but the decision whether to buy/sell/hold these companies depends on reader.

2 Interesting Small Cap Companies - A Case Study For Readers

1) Vinyl Chemicals - Pidilite Ka Saath Hai, Chootega Nahi

The Company is currently engaged mainly in trading of Vinyl Acetate Monomer (VAM). The Company will validate the opportunity and decide whether to expand trading activity by trading in other chemicals.
The price and demand of various chemicals undergo fluctuations. Similarly, there are fluctuations in foreign currency rates. Hence, there is an inherent risk in trading activities.

Talking about history, VAM was manufactured in the plant located at Mahad in Raigad Dist, Maharashtra , India and was sold all over the World. The company was having major share of business of this product in India. Lately during Dec'07 the said plant was de-merged to resultant parent company M/s. Pidilite Industries Ltd for strategic reasons.
However, the Company's main focus remains in its product, VAM. The VAM is now imported/sourced from various Global suppliers and distributed / traded in India. M/s. Vinyl Chemicals India Ltd. will maintain its major presence in the field of Trading of various Speciality Chemicals in future all over the world.

Under the strong hands of Pidilite group, the company is secured as the parent company will protect its own image. It falls on the positive side of what is called a SWeT effect by Mr Amit Arora
http://multibaggersindia.blogspot.com/2012/02/swet-effect.html

Talking about the numbers, I don't see any major negatives.
The company has been giving very good quarters off late and might continue to do so.
The company is also debt free.
ROE has been superb for last 3 and 5 years.
The dividend payout history is also very good.
The company has been growing at a CAGR of 32% in sales and 20% in profit for last 5 years.
All these positives have taken the stock from levels around 10 to levels close to 100 now in past year, but is it enough?

The only concern why I am not putting this as a direct suggestion, is that, I am not convinced about the way management is going about their business. They have shifted their focus based on the context i.e. from manufacturing to trading now, as they find this more profitable one.
However, I may be wrong here in my judgement.


2) Indian Toners And Developers - Commited To Excellence

This is probably the 3rd time, I have found a stock, which was not in my radar, but was suggested by some of the readers of this blog. I thank all the reader for their queries on this blog, as it increases my knowledge and my radar.

Indian Toners & Developers Ltd. is India’s largest manufacturer and exporter of compatible toners for use in laser printers, the new age digital machines, multi-function printers, analogue copiers as well as wide format printers and copiers. Indian Toners & Developers Ltd. also offers premium quality chemical color toner products for use in laser printers and copiers. Indian Toners formed a subsidiary by the name of ITDL Imagetec Limited which became operational in 2009. While the manufacturing plant of the parent company i.e. Indian Toners is located in Rampur (U.P.), the manufacturing facility of its subsidiary, ITDL Imagetec, is located at Sitarganj (Uttarakhand).

Indian Toners & Developers Ltd. has a manufacturing capacity to produce 2400 metric tons of toners per annum. The facility at Rampur has a manufacturing capacity of 1200 metric tons of toner per annum, while the facility at Sitargunj also has a manufacturing capacity of 1200 metric tons of toner per annum, with a total of 4 production lines (600 metric tons each).
As per the Annual Report of FY'14, the subsidiary company is planning to expand its manufacturing capacity from 1200 MT to 1800 MT by 31st March, 2015.

Again, we have a company, which is debt free and trading at almost the same level as its book value.

Talking about numbers, the company has been growing at a CAGR of 14% in sales and almost 34% in profit for last 5 years. This year, so far, the sales have gone up by 18% and profit by 27%, which is very decent.
Based on FY'14 numbers, the company is currently trading at a P/E multiple of just above 6. Looking at six months data so far, it is expected that the annual EPS will be even higher.
Also, with the expansion getting completed in about 3-4 months, we can expect a much better performance in times to come.
The cash flow also has been impressive for past few years.
During the year FY'14, the company incurred R & D expenses of Rs. 48.58 lacs in various heads.
In terms of export, in FY'14, the company was able to increase it by 20% over past year

To check all the awards received by the company so far, visit:
http://www.indiantoners.com/awards.aspx

The few concern I have, is that in spite of making decent profit, the company is not paying dividend. Also, most of the revenues (almost 100%) is coming from export, and hence frequent and wide fluctuations in foreign currency and tough competition in the international market continues to be a challenge for your company.

Overall, I like the data and prospects of the company, and feel, it has the potential to achieve much more.

Note:
In both the cases, I completely leave it up to the reader to decide his/her way of approaching this company now, as I have put all the pros and cons to the best of the knowledge, I have about the company. I am not sure of the multibagger potential of both these names, but they seems to have the ability to become one. Hence I am not putting both of them as direct suggestion.

I do not have vested interest in both the stocks at present.

All The Best!!!!

Some Of The Ignored Performance Ratios By Small Investors

Generally, being a small investors, we tend to forget or ignore looking at some of the very important factors, which could drive the stock prices, and then, suddenly, we start questioning ourselves that, in spite of me being invested in very good company, why am I not getting good returns! That probably, could be, because my company, is not that good, on some of the below mentioned parameters.
However, that doesn't mean, that I will start considering only these factors, and ignore others.
These factors come into picture based on context and one has to realize that.

1) ROE (Return On Equity):

It is used as an indicator to figure the company's profitability against the money invested in it. It is calculated by dividing the net income by the shareholders equity.

ROE = (Net Income) / (Shareholder's Equity) * 100 %

ROE is generally calculated and useful, if on average basis for last 3, 5 or 10 years, because 1 year can't be used as an indicative parameter.
Make sure that we compare the ROE within the same sector, as it could be varying depending on the sector, and the average profit that the company in respective sector, makes.

We can expect a higher ROE for the companies with higher growth.

Some of the companies with Average ROE above 30 for past 5 years are Hero Motocorp, Atul Auto, Kaveri Seeds Company, Dhanuka Agritech, Ajanta Pharma, Suven Life Science, Mayur Uniquoters, Symphony, Page Ind, Asian Paints etc.

2) ROCE (Return On Capital Employed):

As we saw that we are using Shareholder's Equity as dividend while calculating ROE. Here in case of ROCE, we will add debt liabilities also as part of dividend, which will make the figure known as total capital employed. Also, instead of using net income, we will be using earnings before interest and tax, as a parameter to calculate ROCE.

ROCE = (Earnings Before Interest & Tax) / (Total Capital Employed) * 100

This is one of the factor which takes a hit, if we have a high debt company. As ROE, ROCE is also generally considered as an average for last 3, 5 or 10 years, and based on sector.

A higher ROCE is indicative of the fact that company is making more effective use of its capital.

Some of the companies with Average ROCE above 30 for past 5 years are Atul Auto, Cera Sanitaryware, Kaveri Seeds Company. Avanti Feeds, Dhanuka Agritech, Mayur Uniquoters, Symphony, Page Ind, Wimplast, Asian Paints etc.

3) ROA (Return On Assets):

It is a measures of what a company earns per each unit of the asset it holds. It represents how efficient the management is in generating income from the assets it has. It is calculated by dividing the net income by total assets on annual basis.

ROA = (Net Income) / (Total Assets) * 100

Again, it varies tremendously based on sectors, so inter-sector comparison is not advisable at all.
The higher ROA is considered better, because the company is earning more money on less investment, which is always taken as positive.

Some of the companies with Average ROA above 30 for past 5 years are Atul Auto, Hero Motocorp, Cera Sanitaryware, Kaveri Seeds Company, Dhanuka Agritech, Mayur Uniquoters, Ajanta Pharma, Symphony, Page Ind etc.

Note:
The entire concept of putting the examples of companies,  qualifying each of the selected criteria, is to make readers aware that, why these companies are trading at such high valuations. Just look at all the names mentioned, and check their present value. All may seem trading at very high price, but there is a reason behind it, which is justified above.

Hope it helps!!!!