29.9%Compounded

Annual Returns (CAGR)

929%Since Inception in 2012

Consistently outperformed Nifty 500 by an average of

18% CAGR over the last 7 years

CY 2019CY 2018

11.87.7

-18.1-3.4

29.9

13.0

CY 2020 (Nov)

32.7

8.6

Apollo Tricoat,Granules India

Vaibhav Global, SBI Life Insurance

Bajaj Finserv, HDFC Bank , Kotak Bank

Indraprastha Gas, Gujarat Gas,

Deepak Nitrate,

Vaibhav Global, Dhanuka Agritech-

Buyback

SATCO GROWTH & MOMENTUM

FUND STRATERGY

PMS Quarter Performance vis-a-vis Benchmark

Calendar Year Q1 Q2 Q3 Q4

2020PMS% -22.3% 24.9% 20.9%

Benchmark % -29.1% 21.1% 10.2%

2019PMS% 4.4% -0.4% -2.5% 10.2%

Benchmark % 5.4% -0.1% -3.3% 5.7%

2018PMS% -9.9% -0.1% -7.4% -1.6%

Benchmark % -6.1% 2.8% -0.5% 0.6%

2017PMS% 17.9% 8.8% 11.9% 9.8%

Benchmark % 14.5% 4.2% 3.2% 10.4%

2016PMS% -9.2% 16.9% 12.6% -2.4%

Benchmark % -4.1% 8.2% 5.9% -5.6%

2015PMS% 8.4% 1.2% 4.2% 10.3%

Benchmark % 3.0% -1.2% -3.6% 1.2%

2014PMS% 7.4% 34.1% 26.2% 13.7%

Benchmark % 6.3% 18.2% 3.9% 5.6%

2013PMS% -6.6% 3.5% 0.7% 34.2%

Benchmark % -6.4% 1.6% -2.6% 11.9%

2012PMS% 16.5% -1.1% 9.3% 7.3%

Benchmark % 17.3% -1.2% 8.0% 5.3%

TOP 5STOCKS FROM OURPORTFOLIO

Scheme: Security Wt %

VAIBHAV GLOBAL LTD 6.7%

GRANULES INDIA LTD. 5.6%

GUJARAT GAS LIMITED 4.9%

UPL LIMITED 4.9%

IOL CHEMICALS & PHARMACEUTICAL 4.7%

Companies GenreWhen

Purchased

Avg Purchase

Price

Avg Selling Price

Returns

APL ApolloTubes Climbing the ValueCurve Jun-15 412 1979 380%

Granules India Climbing the ValueCurve Jan-14 22 105 375%

PI Industries Consistent Excellence Jan-12 93 400 330%

Alembic Pharma Corporate Action May-12 52 290 458%

Symphony Large Market Low Penetration Feb-14 480 1950 306%

Bajaj Finance Consistent Excellence May-12 861 4000 365%

HCLTechnologies Consistent Excellence Jan-12 495 1550 213%

Indo Count Industries Climbing the ValueCurve Dec-14 276 1099 298%

Vaibhav Global Large Market Low Penetration Nov-12 112 650 480%

Yes Bank Consistent Excellence May-12 326 1180 262%

OUR PASTWINNERS

(Nov 2020) ₹8759

606%

Alt is one of the first domestic com

(Oct 2019)₹298

- UnitedPhosphorus

ValueAddition

₹1 77 (May2019)

panies to use the Galvant process corrosive protection & longer life.

providing a better product &earns

one of the largest domestic

ERW pipe tion to promote

volume growth.

manufacture steel pipes; better anti

The company has positioned itself as higher margins than its peer.

Strong parentage-APL Apollo Tubes; manufacturingcompanies.Strong focus on branding &distribu

United Phosphorus performance

326%

(Nov 2020) ₹418

Accord Fintech, NSE

-United Phosphorus

68%

- IndraprasthaGasLtd.

Indraprastha Gas Ltd. performance

(Nov 2020) ₹496

335%

Apollo Tricoatperformance

Value Addition

(Nov 2020) ₹756

327%

Accord Fintech, NSE

₹177 (May 2019)

Alt is one of the first domestic companies to use the Galvant process manufacture steel pipes; better anti corrosive protection & longer life.

The company has positioned itself as providing a better product & earns higher margins than its peer.

Strong parentage-APL Apollo Tubes; one of the largest domestic ERW pipe manufacturing companies.Strong focus on branding & distribution to promote volume growth.

-Sunteck Realty- ApolloTricoat (Present)

Granules India performance

₹Rs. 104 (Sep 2018)

(Nov 2020) ₹413

296%

Accord Fintech, NSE

-SunteckRealty

- Granules India

Granules India has been consistently improving operational efficiency in the core bulk drugs segment.

The company has been moving up the value curve from an API manufacturer to formulations, where the profitability is higher. Revenue share from formulations has increased from 39% in FY18 to 52% in FY20.

GIL generated Rs.264 crs free cash flow in FY20; FC was negative in the previous 2 financial years.

(Oct 2019) ₹8134

556%

Accord Fintech,NSE

₹233 (Mar 2020)

(Nov 2020) ₹780

235%

Accord Fintech, NSE

- IOL Chemicals&

Pharmaceuticals

IOL Chemicals & Pharmaceuticals performance

IOL CP is the largest manufacturer globally of Ibuprofen API

(>30% market share). The company is also among the lowest

cost producers, and most capital efficient among peers.

The company is fully backward integrated for key supply material

IBB; this ensures better control over gross margins and sourcing.

Consistent Excellence andValue Addition

Consistent Excellence and Value Addition

-United Phosphorus

68%

- Deepak Nitrite

Deepak Nitrite performance

(Sep 2020) ₹387

239%

Vaibhav Global performance

Value Addition

(Sep 2020) ₹595

236%

Accord Fintech, NSE

₹177 (May 2019)

Alt is one of the first domestic companies to use the Galvant process manufacture steel pipes; better anti corrosive protection & longer life.

The company has positioned itself as providing a better product & earns higher margins than its peer.

Strong parentage-APL Apollo Tubes; one of the largest domestic ERW pipe manufacturing companies.Strong focus on branding & distribution to promote volume growth.

-Sunteck Realty- Vaibhav Global (Present)

Consistent Excellence and Value AdditionConsistent Excellence and Value Addition

(Nov 2020) ₹865

246%

Accord Fintech, NSE

₹250 (Apr 2019)

Deepak Nitrite is a leading bulk and speciality chemical manufacturer in India.

Growth in the business has been led by a change in in focus of the management to move from commodity chemicals to high value specialitychemicals.

Recently commissioned a new phenol & pharma grade acetone manufacturing unit and now focusing on downstream products like IPA, which is a pharma intermediate and also used in sanitizers.

The management is focused on import substitution and high value downstream products for its long term strategy.

Large market-low penetration

(Nov 2020) ₹2129

202%

Accord Fintech, NSE

₹706 (Dec 2019)

VGL is competitively placed in a large and growing sub $25 artificial jewellerymarket in the US & UK.

It is completely integrated from globally sourcing gems to selling under its own brand name in US & UK on its shopping channel on TV and streaming over the web.

Ventured onto e commerce marketplaces like Amazon.

Significant benefits of scale and operating leverage.

Ventured into new lifestyle products, sold through the existing platform to increase their wallet share of the customers.

50