At a time when the stock markets tremble with all headlines and most investors are only looking for quick profits, patience has become a rare commodity. But one of India’s Warren Buffetts, Porinju Veliyath, boasts of an investment approach that is probably that of swimming against the tide. Rather than following fleeting market trends, Veliyath has built a name for himself by carving his own way.
Two of his long-time holdings are ones which he has held for almost a decade have brought into focus the discipline Porinju has demonstrated in case of these stocks. Are these overlooked opportunities on the verge of substantial growth, or do they demonstrate the power of steadfast conviction in a company’s enduring value proposition?
The good news is that these trusted picks off India’s Warren Buffett, Porinju Veliyath, are currently trading at almost half of their all-time high prices, due to the crash.
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Let us look at these stocks to see it is worth following them
Duroply Industries Ltd (DIL)
Founded as Sarda Plywood industries pvt ltd 1957, Duroply Industries Limited’s erstwhile business of tea chest manufacture was in Jeypore (Assam) and in 1964, company began producing commercial plywood. The Company entered veneers business in 1994.
With a market cap of Rs 180 cr, Duroply’s product portfolio includes various types of plywood and blackboards, decorative veneers and flush doors. The products are sold under the company’s own established brand “DURO”.
India’s Warren Buffett, Porinju Veliyath and his wife Litty Thomas have both been holding a stake in the company since December 2016 (since records were available), per Trendlyne.com. As of the quarter ending in December 2024, Porinju holds 3.64% and Litty holds 1.90% stake in Duroply.
What is it that has kept Porinju’s interest and money in the company all these years?
The company’s sales were at Rs 228 cr for FY19 and it jumped to Rs 323 cr for FY24, which is a compounded growth of 7% in 5 years.
For 9MFY25, April to December 2024, the company has already recorded sales of Rs 265 cr.
The EBITDA (earnings before interest, taxes, depreciation, and amortization) for Duroply was Rs 10 cr in FY19 and saw compound growth of about 4% as it went to Rs 12 cr in FY24.
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