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Investing in growth in the public markets

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Over the next few weeks, we intend to breakdown our Portfolio Earnings review report and elaborate on the sectors that we are bullish on and has exposure to. We discussed the real estate and construction industries last week, including how established companies with clearer financial statements and regulatory backing are growing in these fields and our exposure to the sector through real estate ancillaries. You can read the entire review report by clicking on the link below.

Portfolio Review – 2Q FY24 – ITUS Capital

Autos and Auto Components: This week, we’ll be outlining our exposure to the auto and auto parts sector and how we see the industry. The detailed charts may be seen below,  we’re attempting to provide you an overview of this sectors’ general outlook and our portfolio positioning here. We are breaking down the auto industry into three segments: two-wheelers (2W), passenger cars (including EVs and Pvs), and medium- and heavy-duty commercial vehicles (M&HCV).

Over the course of the previous ten years, 2W volumes were moderate. From 2013 to 2018, demand went from sub-125cc bikes to premium 125CC+ bikes; however, due to COVID, this trend reversed in FY19–22. Due to premiumization, electrification, and urbanisation, the tide has shifted once more throughout the past two fiscal years. SUV sales in the passenger car market also increased sharply, rising to 2.5 times in FY23 from 21% in FY14. Additionally, the M&HCV market is showing a rise in volume, and their cycles are showing a recovery phase.

Our exposure to auto and auto-ancillary industries is currently at its highest level (20.9%), which we believe to be the growth pockets. Our portfolio is positioned towards companies with leading market share in passenger vehicle like Maruthi, ancillaries like Digvi Torq transfer that make powertrain and gearbox components for PVs and EVs, cable manufacturer like Suprajit, and premium 2W market manufacturers such as RACL geartech that make precision gears and shafts. We also have auto ancillaries which are Bosch and Craftsman that produce engine and chassis parts for M&HCV and commercial vehicles.

We will keep allocating a portion of our portfolio to companies with volume growth centered around core process engineering, long-term client relationships that are enduring, and the ability to pass on or safeguard margins during cycles.

Portfolio Review Q2 FY’ 2024

Portfolio Review Q2 FY’ 2024

Portfolio Review Q2 FY’ 2024


These weekly episodes are now available in our website for your quick read and you may access the same in the below link.

Weekly Enlightenment Archives – ITUS Capital

Also, as a part of our ongoing commitment to keeping you informed, we remain dedicated to our SIP program, providing investors with a convenient avenue to regularly enhance their portfolios. We encourage you to explore the benefits of this program for your clients. If you require more details, please don’t hesitate to reach out to your dedicated relationship manager at [email protected].