- 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
World aquatics 2019
Swedish singer Zara Larsson on Tuesday announced the end of her collaboration with Chinese tech giant Huawei as she felt hindered by the collaboration to take a stand on what China ‘was doing’ in regards to the Uighurs, TikTok and Hong Kong. … [Read more...] about ‘It’s not something I stand behind’: Swedish singer Zara Larsson ends her collaboration with Huawei
"Escort will continue to witness stability in demand owing to government support for the agricultural sector and good monsoon. We have a positive marking on Bosch for the being the leader in the Fuel injector system in regard to the BS6 transition and Minda industries for the benefits of censor and controllers," Nair said. … [Read more...] about July auto sales signal recovery: Should you buy stocks from the sector?