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The most important thing in life to earn money is management. You can earn money only through good management. You should look at history, do n't look at success stories, you should also look at the failure stories, you don't know about them because no one talks about being unsuccessful. You can learn more from an unsuccessful story than from a successful one.
Secondly, every person is different. You cannot do what I am doing. You are different, your character is different. You have a different personality. So know yourself and then work on it here. And management is most important and I always talk about three qualities of management which you should look for.
He will be honest, hungry and smart. Management should be honest so that they can make money for the shareholders. My quote on this is Smile, in which I have said that I do not invest in the management which is not 15 years old, but 15-20 years old, because within 15-20 years it has seen three-four big cycles, it has sunk and then emerged, so it learns a way to manage risk and if it is still surviving today and secondly, whatever hassles it has to face, whether it has to build its own house, buy a car, take club membership, travel abroad, do this, transfer money there, all this in 15-20 years is not the case with every management.
But the new management is all one thing that yes brother, my money should be a little aside, I should have security , tomorrow the company may sink. Look, we who are shareholders are just travelers. We have equal right to speak. These three democratic countries have given you equal rights. But think about one thing yourself sometime.
When the company is going bankrupt from the management's point of view. At that time the management raises money for the company by pledging its shares. Gives his personal guarantee. Now I know a management that mortgages its house and raises money to invest in the company. The shareholder does not invest money, right?
He does not mortgage his house. Its shares are not pledged. He is a fair-weather friend. If the company earns, you will come to take the dividend. If the company does not earn, you will say that your money is lost. Of course your capital gets lost. But think about the management. His liability remains with him throughout his life.
The day you sell the shares, your liability ends. The liability of the management does not end. If he took the money, mortgaged his house and gave his personal guarantee, then the poor guy is hanging in the tent. So saying this, the pedigree of management is very important. So the honesty of management is most important.
Second, the management's hunger is honest hunger, hungry and smart. So Hungary is very important. If the management does not have the passion to understand that yes brother, today I am a regional company. From here I will become a national company and then after that I will become an international company.
Today my turnover is Rs 2000 crore. But this market size is Rs 500 crore. I will grow it for 20-30 taka. There should be fire in the belly in that how I can get recognition for my company that I am a top five company in India or a top three company. It is very important to have this hunger. Generally, what happens is that you think there are 63 million SMEs in India, not every person can reach the top right now.
The reason for this is that their hunger goes away. At one level, generally it has been seen that a person's hunger goes away after reaching the range of Rs 300, 400, 500 crore. Because he also starts getting old. Then a little BP, a little diabetes, a little this and that, a little overweight, a little that, because after struggling so much, he feels that he is done with his life.
What are you doing right now? Children, now listen to all the management and tell them that these brothers are living in the US and they do not want to come here and whether you sell the business or do it whatever it is, then that hunger is necessary otherwise people will think that brother, I have earned enough money now, what should I do now, I should run it like this, 99% of the time the company runs at the same speed, it runs in a static way, in that the shareholders will not earn money, you will have to leave that company, so in this sense, hunger of the management is necessary and smart that how does he save his company in every problem like if Covid comes or anything like this comes, if any policy matter comes.
Some stand of the government has changed. Some duty has been assigned. There was some problem in the country where he was selling. So how did he get out of it? This smartness will be evident from his previous track record. So I think if you mix these three things. I have applied this simple formula in my 100 times shares, which I am sharing with you.
And I applied the same formula inside Mainly Sera also. Even now, whatever shares I have bought, I apply only this formula: what is its market size? What is the management's view on this? What is his credibility? And after that, as I told you, if you keep these things in mind a little, and of course, luck plays a big role in this.
Luck also has a huge contribution in this. You must be at the right time. And generally I noticed that I definitely show two bull markets in my stocks. I mean, I will show you two bear markets. You should understand that the bull market comes first with a rise. Then it falls and then rises again. So, as I told you earlier, the identity of good shares and good management is that if the market is rising by 20 km.
For example, the speed should increase from 40 km. At a speed of and if the market is facing economic downturn, 20 km. If the speed of is minus then the company should fall by minus 5%. So when that new market, when there is a new economic upturn, that company will run faster because by then many of its peer companies would have consolidated.
In the bear market or crisis, you will see that all the companies get consolidated, so the person who is left comes forward and then he reaches a new level. So these are all the formulas in the market and whatever I apply, I think it will be big, if you try to do it then in the beginning you will feel that this is not possible, how will this happen, but ultimately if you are focused that this is the work I have to do.
This is the method and if I have to do this work and you stay in that business then I think you should definitely get success and the award that I received recently was given by Piyush ji, Shinde ji was also supposed to come there so coincidentally he came at the last moment, otherwise I had recited a four line poem there to Fundvis ji, Kul ji, I will recite that to you, after that I will again ask you questions and answer them and what I want to say about that poem is that whatever business you are doing, whether you are practicing or running a company or you are investing in the share market.
If you have a dialogue like Shahrukh Khan that if you want anything with all your heart and soul then the whole universe helps you in getting it. This is the knowledge of Gita. Understand this, the knowledge of every religion of our India is that you should remain engaged in the work you are doing throughout the day.
Vivek Vivekananda also said about the same that you should choose one idea. Think about that idea all day long. Live on that idea, die on that idea. Then your nature protects you. This is one such discourse of Vivekananda. So I mean whatever work you are doing, stay in that work. There will be ups and downs.
This is the order of life. If you have seen the downtrend, then in the new uptrend that will come, you should adjust yourself to the previous downtrend as it is said in our market that a new peak has come. There is a double top. Prakash ji is an expert, whose Deependra, all these people are experts.
The maharathi is sitting there, every new top, every new trend brings a new bull market, so then a new high or a new low, all we talk about, higher top and higher bottom, this is what happens in life too, so I had quoted this four-line poem there that stay steadfast in every situation, this is the rule of time, the auto driver has become the CM, the tea seller has become the PM, this game is still going on, you have to prepare, tighten your belt, take up the challenge, now it is your turn, so this is the only principle of your nature, of your profession, of your career, that whatever work you are doing, whatever work you are doing, you should remain engaged in it with full dedication and the flowers will bloom only when spring comes, so this is my message to you, right now I can take your questions and answers from you, we can do a Q&A session, thank you very much [appreciation] no, I will not stand, okay, stay active, so if anyone wants to ask anything from the Vijay Keria sir, you can raise your hand and you can write your question On the chit and can send it to us Mishra ji Vijay Kedia ji thank you so much sir my name is CA Pradeep Gadiya sir there was a question you told that when you do research you check sunrise industry and you should ensure to stay away from sunset industry so based on your past experience where you chose sunrise industry so what perspectives do you see from the Indian economy from the world economy giving an analogy that the semiconductor industry is doing very well these days.
So what things did you see in your past experience in the sunrise industry, so people like us can you know get your guidance to think through it. Let me tell you that off course now because the whole world has become globalized. is interconnected. So what is happening in the world also depends on India.
But there are some stories that we talk about. It is an India centric story. Domestic stories that we talk about. For example, I had recently taken Tejas Network during the time of Covid in 2019. So totally it is an India centric story because let me tell you one reason why I took it from India because there were 16 telecom service providers at one time when these telecom companies had just come after 90-95, when they have come now, Achison, Maxx, BPL, TPL, all together there were 16 companies, now as I said when there are ups and downs, when any crisis comes, then a console, that sector gets completely consolidated, then we see who is left in it, the one who is left now has a monopoly in a way, let it be a bad word, but it has pricing power, which is a good word we use in slang, because of that it gets pricing power.
So you will see that after 95 and after 2000, all the telecom companies were completely destroyed. Everything kept closing down and getting consolidated. By 2018, only two companies remained. Vodafone and B Jio probably came in 15 in 2016-17. He changed the whole game there. Got some pricing power. Their monthly rental of RPU started increasing.
Companies started earning money. No one was expanding before this. Even today, if you look at the condition of telecom, people talk about 4G and 5G. Can you hear me brother? Can you hear it? is listening? Okay, I'll return it. Let's talk on our mobile again. The situation is so bad as if we are still living in 97.
So I applied this simple formula that all these companies were wiped out. Two have survived and they will remain safe because the government will also protect them. The government ultimately took away 35 taka equity and 40 taka equity from Vodafone because it had to save it, that is why they use the terms that there are two and a half companies in telecom, now Jio is left and B is left and Vodafone is left in the other half, so in 2019-20 I understood that the government was talking about 2G, at that time we had 2G, things started coming from 2G, 3G never came to India, after 2G we migrated directly to 4G, this Indian Jio came and did it, then they understood that now the government has also focused that 5G has come in the entire world.
Right now we do n't even have 4G. So for 4G the government said that you do it, we will provide the spectrum. We will do this and help those who do not have it. And I started to feel that without data there is nothing in this world. Even today, if you look at your phone, your voice bill is less. Whatever bill comes, it is for data only.
So it is understood that this is a sunrise industry and this industry is just starting. If the mobile comes for Rs 95 then I read somewhere that 10G testing is going on. We are talking about 5G. Ok? Now talk of 6G has started. Now 6G will come in 2025-26. How fast will that be? I don't know what will happen inside this world.
So I think we all will understand that whatever we talk about in telecom, food, clothing, shelter and data, this is a sunrise industry. This can also be understood today that yes, perhaps this will last for 10 years or 20 years, its size will change. Its types will change. But this concept of telecom should remain.
It seems like that today. So this is set. Then it seemed that only two and a half companies were left inside it and half of that was Indian Costly. Jio was not listed. Vodafone was not to be taken. So what should I do if I have to go into that sector, then I was following a company like Tejas Network for the last four years, I had told many companies at one place that what I do is that when an old athlete who has made a great track record or an old company which has once set a record, then after that the company gets into trouble or after that the athlete falls a little sick, then I keep an eye on that athlete to see when will he recover, when will his health become fine again?
When will this company turn around? And I keep that company on my radar and I watch it and sometimes this watching of mine continues for 4 years, 5 years, 6 years, even 7 years. When I feel that there has been a turnaround in this sector and this company which was dead for 7 years, has remained alive despite the problems of 7-8 years.
Rather, he made some progress. At that time, at the time of its turnaround, I take its shares which I told you. So, I did the same thing in Tejas also, when I got all these, I understood that now the time has come because now Vodafone also started saying that I have to expand something and need capital.
Indian had already started expansion. Jio already had money and so I thought that if these people expand and upgrade themselves and I do not want to take this company then I should take over their ancillaries or the company that makes their equipment and I was already following Tejas, so I took Tejas network, at that time the company was in loss, the company had incurred a loss of 100 crores, so people can say that the company incurred a loss of 100 crores and I took shares of that company, normally I would not have done that but at that time the company also had ₹200 crores cash in the company.
[nasal sound] ₹170-80 crore was to be taken by that company from BSNL. The money was to be taken from Bharat Net or BSNL, from B Net, from B Net, that company had to take the money from the government and there was ₹120 crore cash in the company, ₹10 or ₹150 crore, so I invested all this and I said that I probably cannot be wrong in this.
The price of the share which was ₹400 also became ₹40. So, I got everything and understood Sunrise Industries, I understood the management. There is no one else in India who can make it. And when there was development within the sector, I bought that Tejas. So this is a formula. This is a concept. I buy these shares using this concept.
By saying this, your question was that I took it this way. Even today it is lying there for me. I also sold some shares. My freebies are now free. Still I am interested because it seems that the story is just beginning. Now it has got a 4G order worth Rs 12,000 crore. Now again he will do 5G next year.
Then for whatever he did with 4G, he will get AIIMS for 10 years. So this is a turnaround for the company, of course the market has become expensive now. The one I bought for 40 is priced at ₹900 ₹800 ₹900. The stock became expensive. But I don't have any problem. Suppose I bought it for Rs 40, then today my price of Rs 800 has increased 20 times.
Understand that even if it doubles in the next 3 years, my profit will be 40 times more. I don't have a double. My 20 times is 40 times. This is the advantage of buying shares first. So in this type of full different company, different approach is applied like this.
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