Quality At Any Price Vs Quality At Reasonable Price - Year 2 Update

It has been two years since we started this comparison exercise.  The previous year update is here There has been correction in both portfolios since last year, but the quality portfolio has had some significant correction compared to quality at reasonable price one.  This has led to the return gap being reduced considerably between the two folios. The high PE folio continues to remain high in most of the cases.  We will review it next year and check how these portfolios have performed.  For those that are interested in the details, the portfolio valuation and returns as it stands today is given below.  Those stocks with an asterix (*)  mean that the price has been adjusted for bonus and splits.

Portfolio 1

Portfolio Annualized Return:  7.6%

Stock	Price	PE	Investment	Price	PE	Value
Jubiliant Foodwords	1340	76	10000	833	54	6216
Page Industries	10743	68	10000	13674	62	12728
Symphony *	954	62	10000	1210	51	12683
La Opala	410	62	10000	505	44	12317
Berger Paints *	148	53	10000	200	44	13514
Britannia Industries	1793	52	10000	2941	42	16403
Pidilite Industries	484	50	10000	613	37	12665
Astral PolyTechnik	420	46	10000	397	56	9452
GSK Consumer Healthcare	5807	45	10000	5007	32	8622
Dabur India	239	43	10000	275	37	11506

Portfolio 2

Portfolio Annualized Return:  4.8%

Stock	Price	PE	Investment	Price	PE	Value
Munjal Auto Industries	113	11	10000	95	17	8407
Zensar Technologies	596	11	10000	1023	15	17164
VST Tillers	1349	13	10000	1777	20	13173
eClerx Services *	897	15	10000	1434	16	15987
Wipro	557	16	10000	466	13	8366
Swaraj Engines	934	16	10000	1353	29	14486
VST Industries	1912	17	10000	2250	20	11768
Kaveri Seed Company	782	18	10000	392	16	5013
Suven LifeSciences	210	18	10000	175	19	8333
Tech Mahindra *	653	21	10000	476	15	7289