Suruchi met Warren Buffett in Omaha-Nebraska, USA – She was one of the 20 chosen MBA students from University of Chicago who met him in February 2011.
With over 10 years of investing experience, Suruchi Jain founded Opportune Wealth Advisors Private Limited in May 2016. Her motivation behind her equity investing career is a meeting with Warren Buffet in February 2011, when she was still in business school at University of Chicago – Booth School of Business. Suruchi was about to graduate and take up a job in venture capital investing, as she had already worked in the Venture Capital Equity space with Hyde Park Angels in Chicago and in strategic consulting with Monitor Group in India.
A natural next step for most consultants looking to enter finance is venture capital or private equity. However, Suruchi realized that these markets are built by large capital and companies. The individual investor, however, needs to access the secondary market to build wealth. Something Buffet did his whole life for himself and all his shareholders.
This made Suruchi choose public investments. Consequently, she returned home post her MBA to become an Equity Research Analyst with Morningstar tracking Indian equities. Fortunately for Suruchi, she had indirectly learnt about equity investing her entire life, since her father was a stock-broker and investor. Equity investing came very naturally to Suruchi, and she was also able to double her own wealth in four years along with building a reputation for getting investment calls right on National Television as a representative of Morningstar. With a pool of savings in hand, and adequate experience behind her Suruchi decided to help others build wealth through equity investing. In May 2016, Opportune Wealth Advisors was born with the thought of advising clients on how to reach their life goals with the help of a long-term equity investing.
Suruchi Jain, Managing Director and Founder, Opportune Wealth Advisors Private Limited
Suruchi holds an MBA in Finance and Accounting from the University of Chicago – Booth School of Business, and a post-graduate degree in Economics from Mumbai University. She comes from a family of investors and finance professionals, with integrity and honesty as a core value.
As part of her work at Morningstar, Suruchi often appeared on television channels and was frequently quoted in the press. Some of her press coverage is below.
Ajaya Jain, Director, Opportune Wealth Advisors Private Limited
Ajaya Jain (Father of Suruchi Jain) is a director at Opportune Wealth since 2016. He has been successfully investing in Indian Equity Markets over the last 36 years.
In 1995, Ajaya started his broking business under the name Aries Stocktrades Private Limited. Today, the firm is named Astute Investment Management Private Limited, and he continues on their board as director.
In Delhi, Ajaya was a practicing Chartered Accountant for 18 years. A fellow of The Institute of Chartered Accountants of India; an Associate member of The Institute of Company Secretaries of India and also an LLB from Delhi University and B.Com (Hons) from Shri Ram College of Commerce, Delhi University.
With his rich experience and insights in the equity markets, he continues to add immense value to Opportune Wealth’s success.
As Opportune Wealth completes 5 years, listen in to what our Director has to say about the company, investing lessons and the journey so far!
Press Coverage of Suruchi Jain
Banking space undervalued at the moment: Suruchi Jain, Morningstar India
Transcript of Interview with ET Now: Jul 31, 2013
Expect HDFC Bank to give good returns over next 6-12 months: Suruchi Jain, Morningstar India
Transcript of Interview with ET Now: Apr 22, 2014
ITC should focus on cigarette biz than FMCG: Morningstar
Interview with CNBC TV18:
IDFC gets RBI nod to exempt 30% of loan book from SLR/CRR
Interview with CNBC TV18:
Articles on Morningstar India website
4 February 2016
Marico’s third-quarter 2016 revenue grew 7% as India (78% of total sales) grew 7% (volume growth of 11%) and international business 9%. Despite single-digit top-line growth, earnings moved up 24% on the back of a 633-basis-point improvement in gross margins in a deflationary environment. Management said that lower input costs would continue to benefit the firm in fiscal 2017, as gross margins and in turn EBIT margins will remain heightened despite passing on adequate price discounts to maintain volumes. Based on these results, we reduce our average five-year revenue forecast to 16% from 18% and enhance our gross margin forecast to average at 50% from 48%, thereby maintaining our five-year average earnings growth estimate at 21%. However, given that the company has been able to expand its EBITDA margins to 19% during the quarter beyond our expected 17% EBITDA, and this streak is likely to continue, we are raising our fair value estimate for Marico by 11% to INR 211 per share, after bonus adjustments. The stock has gone up by 60% since we highlighted its margin expansion potential in September 2014. Over the same period, EBIT margins have expanded by over 300 basis points to 17% plus from 14% in fiscal 2014. We continue to remain optimistic about the fundamentals of this narrow-moat stock and believe the stock is fairly valued at current levels. Management continues to be open to acquisitions and equity deals at the right price, as they have found it hard to reap the full benefits of its Paras acquisition due to integration issues. We continue to watch deal-development carefully for this standard allocator of capital, as new entrants like Patanjali, Kesh King, and Indulekha begin to gain prominence in small pockets of hair-care solutions. Marico’s Parachute and Nihar brands, however, continue to dominate the pan-India market across formats and solutions with nearly 57% value market share as of December 2015 (as shared in the company update).
https://morningstar.in/posts/35548/marico-gross-margins-expand-more-than-anticipated.aspx
17 November 2014
Sun Pharmaceuticals’ second-quarter 2015 earnings grew by 15%, underpinned by strong growth in top-line revenues in its India business and gross margin expansion in its U.S. subsidiary, Taro. Total revenue was up 13% for the quarter, year on year, with the fastest growth in India formulations (25% of quarterly sales) at 21%; U.S. sales (64% of quarterly sales) followed with growth of 15% and other regions (12% of quarterly sales) up 12%. Growth in the U.S. was primarily driven by price increases at Taro (32% of quarterly sales) given existing contractual agreements with customers. As a result of these price increases, Taro’s sales were up by 22% despite a slight fall in volumes. Gross margins for Sun improved by 200 basis points to 83% as the result of an increase in Taro’s gross margins, which ended 130 basis points higher at 79% compared with the same quarter last year. Our fair value estimate of INR 992 per share is unchanged, as the performance was broadly in line with our expectations. Taro, in which Sun Pharmaceuticals owns 68.9% equity and 79.2% voting power, also hosted its first quarterly conference call since 2010, which we view as a positive development. Quarterly revenue for the yet-to-merge Ranbaxy business was up 16% and profit turned positive at INR 4.8 billion after five quarters, supported by the 180-day exclusivity sales of Valsartan in its U.S. business (which grew by 62% against the prior period and accounted for 44% of Ranbaxy’s quarterly sales). We believe Sun Pharmaceuticals’ narrow economic moat, which is based on its low-cost advantage and focus on complex products, remains intact. Management continues to enter limited competition products, with a focus on the heavily regulated dermatology space, a capability that will be further enhanced with the addition of Ranbaxy to its portfolio.
Articles on Financial Chronicle
