Carnelian Contra Portfolio Strategy

Fund Snapshot

Objective

Generate superior risk-adjusted return by following a contrarian absolute return approach

Strategy

Multi-cap with 60% large-cap bias, sector-agnostic portfolio designed to capture:

• Structural growth story with temporary dislocation
• Businesses facing unfavourable cycle
• Deep value stocks with good dividends
• Special situations like demerger, open offers, acquisitions, etc.
• Portfolio of 20-25 stocks filtered through carnelian forensic lens; benchmarked against BSE 500 TRI
• Actively managed portfolio with a long-term approach

Offerings

• ~12%-15%+ expected 3-year earnings CAGR
• ROE > ~15%
• D/E < ~1.5
• Likely margin expansion
• Dividend yield ~3-4%
• Portfolio beta < 1

Investment Framework

Quality

• Business (PROFITS)
• Management (IMPRESS)

Growth

• Magic – accelerated earnings growth & valuation re-rating
• Compounder – stable earnings growth

Forensic Analysis – CLEAR

• Cash flow analysis
• Liability analysis
• Earnings quality analysis
• Asset quality analysis
• Related party & governance issues

Valuation

• Reasonable valuation
• relative to growth

Risk Factors

• Reversal of business cycle taking longer than expected
• Re-rating of deep value stocks taking longer
• Temporary dislocation in business may later become permanent dislocation
• Periods of underperformance:
• Absolute return-oriented approach may lead to underperformance with benchmark

The Competitive Advantage

• Independent, entrepreneurial boutique with a reputed board of advisors
• Long-term approach with high active share (differentiated portfolio)
• Concentrated QGARP portfolio – Quality Growth companies (Business & Management) at a Reasonable Price
• Offers a unique blend of companies with accelerated and sustainable growth
• Proprietary forensic analysis
• Known for identifying larger themes, trends /stocks early

PEOPLE

• Founders are industry veterans with strong complementary skill sets
• Deep understanding of capital markets & businesses
• Strong relations with corporate India/industry
• Team of 70 passionate/driven professionals
• 100% founder owned – skin in the game

PROCESS

• Unique forensic framework – “CLEAR”
• Focus on quality
• Screen for red flags
• Disciplined investment process
• Differentiated approach to risk management
• Processes driven by core values.

Investing With Clarity, Not Complexity

Markets can feel overwhelming. Your portfolio shouldn’t. At AltPort, we simplify the noise and focus on what drives long-term results. Every recommendation is clear, deliberate, and built on frameworks that minimise confusion. If you want investing to feel more transparent, structured, and empowering, our process brings the clarity you’ve been missing.