Purnartha

YOUR TRUSTED PARTNER IN WEALTH CREATION

EQUITY RESEARCH AND INVESTMENT ADVISORY

Purnartha

It's Never
Too Late
To Be What
You Might
Have Been
-
George Elliot

2 Confidential
 KEY TO WEALTH -
LONG TERM INVESTMENTS Purnartha
INVESTING IN GOOD COMPANIES

“I never
attempt to
make money
on the stock
market. I buy
on the
GOOD COMPANIES WITH assumption
that they
AND .. could close
BEING LAZY!  High growth aspirations
the market
 Middle class values ( e.g. the next day
zero net debt ) and not
 Owners having skin in the reopen it for
game five years”
-
Warren Buffet

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 INVESTING IN A UNIVERSE
CONSISTING OF NON-CYCLICAL COMPANIES

Purnartha

Long term
investing
reduces risks
of lost
opportunities Which have zero net debt i.e Having a reasonably large owner
and averages Growth funded by clients holding i.e
out macro and rather than debt Owners with skin in the game
micro
economic
Which are likely to grow at 1.5x to 3x Companies
factors that
volume growth consistently across all Having low drawdowns and
could affect cycles (On a conservative side, India’s faster recovery
markets real GDP to grow at 5%)
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 TOP GUN INVESTMENTS WITH
5 STEP RESEARCH PROCESS
History Purnartha
We need history that shows performance across regimes. Usually 11 years is a
credit cycle where GDP has gone up, down and drifted. We see if the businesses
have generated positive cash in all regimes. Other business and valuation To Create
related parameters are analyzed too. Something
Business Model Exceptional
We analyze why the company does not need to borrow money to grow its
Your Mind Set
business. We have come across unique business models that provide an insight
Must be
into the economic moat or competitive advantage of the company. Relentlessly
Focused
Volume Growth On Smallest
We also articulate what are the structural drivers for the volume growth of the Detail
company for the next few years. -
Giorgio
Management Interaction and Channel Checks
Armani
Good history and the reason why the company is poised to grow is the output
of the business owners thought process and interest. We identify the person
responsible for the company’s future & find out if his interests are aligned for
future growth. Channel checks provide an insight into culture of the company.

Valuation
We will build a portfolio that is cheaper than the index at an EV/ Operating Cash
5
Confidential Flow metrics.
Purnartha
Independent, You are in Support
unbiased control. and
equity Purnartha guidance
advise doesn't touch from
your money! experts

Know what
 Long term equity investment philosophy
you own, and
 Performance tracking platform
know why you
 Continuous and easy portfolio monitoring
own it
 A fundamental portfolio analysis before you Sign Up
-
Peter Lynch

6 Confidential
 BENCHMARK BEATING PERFORMANCE
Purnartha Portfolio*
FY Q1 Q2 Q3 Q4
Annual
Growth Key Stats
Purnartha
Portfolio* Purnartha
2009 - 10 51.38 10.82 6.92 34.88 141.94
Macro Index (days) 297 / 2171
2010 - 11 2.57 24.73 -5.37 -6.21 13.54
End NAV 3517.03
2011 - 12 7.28 -1.44 -2.98 8.05 10.84
2012 - 13 7.97 22.33 16.81 -2.76 50.03 Beta 0.4665

2013 - 14 6.10 6.71 33.84 38.06 109.20 CAGR 51.17%

2014 - 15 22.00 23.33 7.39 20.03 93.95 Max. Drawdown 26.18%
2015 - 16 -11.17 2.49 2.58 -2.34 -8.79
Recovery (days) 84
Generated
2016 - 17 20.80 8.66 -12.92 32.95 51.96
2017 - 18 6.25 15.95 11.12 36.90** Annualized Volatility 20.00% 51.17%*
Last 1 year returns: From 01st-Jan-2017 to 31st- Dec- 2017, returns of Purnartha portfolio are 82.02% CAGR
v/s 28.65% of NIFTY Since Inception
NIFTY
Annual
FY Q1 Q2 Q3 Q4 Key Stats NIFTY
Growth
2009 – 10 42.04 18.48 2.3 0.92 73.76 Macro Index (days) 122 / 2171
2010 – 11 1.21 13.5 1.73 -4.9 11.14
End NAV 348.59
2011 – 12 -3.19 -12.47 -6.45 14.52 -9.23
Beta 1.00
2012 – 13 -0.31 8.04 3.54 -3.77 7.31
2013 – 14 2.81 -1.83 9.92 6.35 17.98 CAGR 15.59%
2014 – 15 13.53 4.64 3.99 2.51 26.65 Max. Drawdown 28.01%
2015 – 16 -1.44 -5.01 -0.03 -2.62 -8.86
Recovery (days) 470
2016 – 17 7.10 3.90 -4.94 12.07 18.55
2017 – 18 3.78 2.81 7.58 14.79** Annualized Volatility 18.12%
7

Confidential
* - Audited report available on request ** - YTD (from Apr 2017)
 Rahul Rathi, Chairman & Managing Director
MBA from Carnegie Mellon University.
Clients benefit from Rahul's research and implementation experience gained over a
decade of working with world-class financial institutions in New York, London, and Asia.

Raghu Sundaram, Director

Purnartha An Edward I. Altman Professor of Credit & Debt Markets and Vice-Dean of MBA Programs
& Online Learning at New York University's Stern School of Business. PhD – Cornell &
MBA - IIM Ahmedabad, he is also a Yamaichi Faculty Fellow. He has research background
in derivatives, credit risk and experience in working with Wall Street firms.

Hemant Vispute, Managing Director

Hemant brings over 15 years of experience in consulting, strategic planning and
operations. He heads technology at Purnartha. A post graduate in Computer Science and
an Management, Hemant has previously worked with IBM and Hitachi Consulting.

Dilip Apte, Director – Sales & Operations

Dilip has 26 years of hands on experience at HDFC Ltd. He has successfully handled Retail
operations, Channels, Deposit Mobilization, Corporate Relations & helped set up the first
A mortgage finance company in the private sector in Egypt. A Chartered Accountant and
Team was a regional council member of the CA Institute.
You Can
Adesh Gokhale, Executive Director
Trust Adesh brings 30+ years of hands on IT experience including 23 yrs at IBM Ltd. He has
lead, delivered many large and complex projects in design, build and manage
environments for global clients. His industry expertise includes Energy & Utilities, Finance
and Telecommunications. He holds few patents in Technology and Process areas. He is a
mentor for several startups including NASSCOM start up incubation centre, a part of
Nasscom 10000 Startups Initiative. He has been active in SmartCity, Start Up India and
Skills India initiatives.
8 Confidential
 KEY STRENGTH & DIFFERENTIATOR
EQUITY RESEARCH CAPABILITIES
Purnartha
Investment Manager – Rahul Rathi
 Responsible for delivering investment performance at Purnartha. The sustained
performance is due to Rahul’s experience and investment in people, processes and
data which he has built from ground up.
Research
 Rahul’s experience in investments comes from working closely with large Backed
successful hedge funds in US & Europe, managing his own factory and family with Domain
business.
& Sector
Experts
Our Research Team
 Chartered accountants with experience in markets
 On ground team meeting company management, suppliers, clients,
distributors to provide inputs to analysis & model
 Analysts
 Whose areas of work include: Financial modeling, fundamental analysis,
industry research, management interaction
 Whose work experience includes: Morgan Stanley on the proprietary
desk, Emerging Market analyst in a MNC
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 WE DO THE WORK FOR YOU!

Purnartha

WOW
Performance Platform Top Notch Service

Top Notch Expert Investment Counsellors

Service Large database to evaluate regimes.
to guide you.

Client support across all channels with

Continuous tracking and easy portfolio
constant assistance and valuable
monitoring
information

10 Confidential
 WEALTH BUILDING MADE EASY

Purnartha
Step 1 Step 2 Step 3
Purnartha Sign Up Purnartha research Clients execute
Visit team re-structures orders in their own
www.purnartha.com current portfolio or demat accounts
or Call 1 800 102 6975 Builds a new through their
(Toll Free) portfolio preferred broker. You are
backed by a
team of
investment
PATH TO BUILDING WEALTH counsellors
and experts

Step 4 Step 5
Periodic portfolio review Portfolio
meetings/monitoring @ monitoring and
Purnartha.com rebalancing

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 Plan 1 Plan 2 Plan 3 Plan 4 Plan 5 Plan 6
Annual Fee
2.50% 2.00% 1.75% 1.50% 1.00% 0.60%
Purnartha (% of AUM)
Hurdle Rate
25% 15% 12% 10% 6.33% 0%
(Annual)

Profit Sharing
% Above 20% 20% 20% 20% 20% 20%
Hurdle Rate

A goal
without a plan * All plans subject to a minimum subscription fee
is just a wish ** Taxes as applicable
Stop Wishing *** We follow the High Water Mark principle
Start Investing
† Flexible plans with a trade off between annual fee & profit sharing above
hurdle rate

12 Confidential
 3 Year Plans

Plan 1 Plan 2 Purnartha

3 Years Fees 9.50% 7.00%

Hurdle Rate
95% 52%
(For 3 years)
A
Profit Sharing Trusted
20% 20% Advisor
(Above Hurdle Rate)
with You in
All
* All plans subject to a minimum subscription fee Life Stages
** Taxes as applicable
*** We follow the High water mark principle

Confidential 13
 I am very happy and I definitely appreciate Purnartha Purnartha
highly satisfied with the kind of research has helped reorganise
the advisory services of done by Purnartha my dormant family
Purnartha and I got the team before proposing stocks portfolio based
Purnartha benefits from the any stock to client. The on in-depth analysis
recommendations on two interactions with and thereby helped in
the investments. I Mr Rahul is also making
found that Purnatha encouraging. I hope the right decisions for a
has a very scientific that once Indian equity fruitful and mutually
way of analysis of the Market became stable; beneficial partnership
market, industry and Purnartha team will that has unleashed a
potential of the provide more value very healthy valuation
segments and I am rest picks and enhance the of my new portfolio.
assured that my service level. I would The staff is very
Purnartha investments are safe like to say that friendly
and are going to yield Purnartha team go into and customer centric,
Trusted by good results in the long deep; check nuts and always willing to help
Over term. Thanks for the bolts; do proper sector; out with any doubt or
2300+ services which helped
me create wealth in the
company and peer
study before advising
service request.
Mr. Kedar
Clients long term. the stock. Software Professional
Mr Nitin Mr Vinod
Infosys Suzlon

14 Confidential
 SEBI REGISTERED INDEPENDENT, UNBIASED ADVICE

Purnartha
Purnartha Investment Advisers Pvt. Ltd.
is a
Sebi Registered Investment Advisor
(Registration no.: ina000000672) A
Trusted
and Advisor
provides investment advisory services with You in
All
under the brand name Life Stages
Purnartha

Confidential 15
 STAY IN TOUCH

Purnartha F t
Facebook.com/Purnartha @Purnarthawealth

Everybody
Deserves
Someone
Who Makes
Them Look
Forward to a
Better
Tomorrow
1 800 102 6975 (Toll Free) Support@Purnartha.com

Confidential 16
 Visit Us On
www.purnartha.com
 Purnartha
YOUR TRUSTED PARTNER IN WEALTH CREATION
www.purnartha.com
Purnartha Investment Advisers Pvt. Ltd
Contact: 1 800 102 6975 (Toll Free) | +91 20 4912 7142 | EMAIL: support@purnartha.com

Pune 32/33, Rachna Bungalow, Dr. Ketkar Road, Off Karve Road, Erandwane, Pune 411 004.
Mumbai 1302, 13th Floor, Marathon Icon, Opp. Peninsula Corporate Park,
Off Ganpatrao Kadam Marg, Lower Parel West, Mumbai 400 013.

Disclaimer: Purnartha Investment Advisers Pvt. Ltd provides advisory services under the brand name Purnartha. The content in this document is provided for informational
purposes only. No material should be considered as investment advice directly, indirectly, implicitly, or in any manner whatsoever. Past performance is not an indicator of
future results. Purnartha accepts no liability whatsoever for any direct or consequential loss or damage arising from any use of any information in this document. The
information and content in this document are subject to change without notice.