QRC Investor Letter 1HY24

• Dec 20, 23
• Saurabh Shroff
• 0 comment

Dear Investor,   Trust you are well.   Portfolio Update During the period from April to September 2023, we have completely divested our investment in Cera Sanitaryware which was trading at ~50x PE. Our decision to exit was driven by our concern that the markets were extrapolating the recent good performance on margins, growth, and