- Phase 1 (1999 to 2005) – Successful domestic M&A: After having spent five decades in establishing a monopoly in white glue (Fevicol), Pidilite started acquiring and building other adhesive and sealant brands to expand its product portfolio and to extend the firm’s channel presence and intermediary influence. The acquisitions included: a) Ranipal in 1999 for Rs 4 crores; b) M-Seal and Dr. Fixit in 2000 for Rs 32 crores; c) Steelgrip in 2002 for Rs 10 crores; and d) Roff in 2005 for an undisclosed amount. Capital deployed towards acquiring these firms was approx. 11% of the total operating cash flows generated by Pidilite over this period. Most of these acquisitions have become monopolies in their respective categories by now and have delivered RoOCEs substantially higher than the cost of capital for Pidilite. Thanks to this phase of expansion, Pidilite has one of the most diversified distribution networks, with its products … [Read more...] about Saurabh Mukherjea’s investment mantra to navigate through a crisis: Part-2
The white house press secretary
Soon after protests erupted in May following the killing of George Floyd, Reynolds was forced to grapple with his own complicated personal history. His and Lively’s 2012 wedding took place at Boone Hall, a former plantation in South Carolina. Press coverage at the time focused mostly on the glamour of the event, though some pointed exceptions noted the callousness of holding a celebration in a place where slaves had suffered and died. It wasn’t until 2018 that the story caught on in a significant way, when a tweet Reynolds posted in praise of Black Panther (the first superhero blockbuster featuring a largely African American cast) sparked a viral response accusing him of hypocrisy. The actor is still clearly pained by the hurt the wedding caused, as well as by his own lack of judgment. “It’s something we’ll always be deeply and unreservedly sorry for,” he says. “It’s impossible to reconcile. What we saw at the time was a wedding venue on … [Read more...] about Ryan Reynolds on ‘Deadpool,’ diversity, and the secrets of successful marketing
Most stock portfolios constructed using one style (or factor such as value, growth, momentum and volatility) typically underperform when the underlying premise does not fit prevailing market conditions. The Nifty Alpha Low Volatility 30 Index aims to address this problem by employing more than one factor to select stocks for the portfolio. According to the fund house, the back-test shows this index outperforming the Nifty 50, Nifty 100 as well as broad indices such as the S&P BSE 500 in eight out of ten calendar years. Of course, there is no certainty of such an outperformance in the future. … [Read more...] about ICICI Pru Alpha Low Vol 30 ETF NFO: Should you invest?
In recent years, eco-friendly brands have been working to return to natural dying methods. Clothing brand Pangaia and bedding brand Buffy color fabrics using dyes extracted from plants, fruits, and vegetables. But these approaches aren’t perfect. When I spoke to Shoaib Kabani, Buffy’s founder, he said that it is hard to find manufacturers that use natural dying methods because it is far slower and more expensive than synthetic dying methods. On top of that, natural dyes sometimes create inconsistent colors from batch to batch. … [Read more...] about Scientists are growing psychedelic cotton in the lab
It’s an idea that the stand-up originally put forth during her 15-minute set on Netflix’s The Comedy Lineup in 2018, it comes across on every “Them Trumps” sketch she has written for Saturday Night Live—in which the First Family is conflated with Empire‘s Lyon family—and the concept reaches its full fruition in a polished chunk on the comic’s just-released Netflix special, 3 in the Morning. … [Read more...] about Comedian and ‘SNL’ writer Sam Jay represents herself on her new Netflix special