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The Fundamental Research Desk at Darashaw was started
in December 2003. From then onwards, there has been no looking
back and the desk has grown along with the markets in terms of
visibility, reach as well as assets under management. We have
followed an approach of buying into concept stories like
Pantaloon Retail; identifying turnaround stories like Elecon
Engineering, Kirloskar Pneumatic & Hyderabad Industries; taking
positions in undervalued and well managed companies within
sectors on which we are positive like Hotel Leela & Birla
Corporation; and deep search for businesses and managements
creating wealth like Financial Technologies, ICSA India &
Geodesic Information. Some of these companies have given us more
than 200% returns.
We believe value is created by innovative managements who are
focused on the right businesses, are agile and adapt/position
themselves well for the future. With our long term investment
strategy we very much believe in Warren Buffet’s quote,
“Equities tell us by their operating results – not by their
daily, or even yearly, quotations – whether our investments are
successful”.
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