Ashish Kila of Perfect Group presented his in-depth investment thesis on DCB Bank (India: DCBBANK) at Best Ideas 2019.

Thesis summary:

DCB Bank (India: DCBBANK) operates in a sector in India that is experiencing large value migration. The company is young and dynamic, with a long runway to compound capital, backed by an “intelligent fanatic” with a proven track record.

Revenue and earnings have grown at a CAGR of 20% and 35%, respectively, over the past eight years. The company has similar key metrics on business quality as do industry leaders, a higher growth rate, and is available at less than half the valuation of comparable companies. The shares recently traded at ~1.6x book value.

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About the instructor:

Ashish Kila is a rank holder CA and MBA from MDI Gurgaon. He has worked with leading investment banks like Goldman Sachs & Morgan Stanley in their equity research division and now is the Director at Perfect Group. Ashish looks after the strategic functions at the group and manages the family office fund. Ashish regularly speaks at various business schools like MDI Gurgaon & investor forums like CFA Society India, Indian Investing Conclave, October Quest, Flame Investment Lab – Alumni Meets, TIA meet, NIRC (ICAI), IIF, etc.