The SOIC Podcast
🎧 Welcome to the SOIC Podcast! SOIC (School of Intrinsic Compounding) helps Indian investors learn how to invest wisely through simple lessons, real-life examples, and case studies.In each episode, you’ll get: 📊 Stock analysis made easy 📚 Key takeaways from investing books 🧠Mental models to think smarter 💡 Real-world case studies from the stock marketFollow and listen to learn how to become a smarter investor for life.
Ultimate Tool for Finding Winning Stocks
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StockScans is a powerful investing and stock-screening tool designed to help investors find winning stocks, track market and sector rotation, and build actionable watchlists. This episode covers stock scanning, growth and valuation filters, quarterly results, conference calls, shareholding changes, technical and fundamental screens, watchlist tracking, and alerts. Learn how to use a structured TVGP (Theme, Valuation, Growth, Promoter) approach to identify new earnings, growth catalysts, improving fundamentals, and emerging market leaders. If you want to build a smarter stock-research process and find high-potential businesses faster, this episode is worth your time.<...
I Scanned Hundreds of Concalls
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In this episode, we use StockScans' Concall Scans to analyse Q1 FY27 conference calls across industries including forging, chemicals, pharmaceuticals, healthcare, electronics, IT services, and financial services. We break down management commentary, growth guidance, new products, capacity expansion, AI, exports, and emerging sector trends to understand where India's next growth opportunities may be developing. Instead of focusing only on quarterly numbers, this episode shows how conference calls can help investors identify long-term business trends before they appear in the financial statements.
👉 If you want to decode man...
Trust vs Helios vs Abakkus: The Small-Cap Fund Deep Dive
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What makes small cap mutual funds one of the most rewarding—and most misunderstood—investment categories? In this episode, Ishmohit and Sarthak explain how small caps are defined, why they offer access to India's emerging growth themes, and how to manage the risks that come with them. They compare Trust Small Cap Fund, Helios Small Cap Fund, and Abakkus Small Cap Fund, covering each fund manager's investment philosophy, portfolio construction, liquidity, drawdowns, and the best approach to long-term small cap investing.
👉 If you want to understand small cap mutual...
I've Never Seen A Business Like This
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In this episode, Ishmohit and Yash break down Indo-MIM, one of the world's largest Metal Injection Moulding (MIM) companies. Discover how tiny metal parts create a huge competitive advantage, why precision engineering is one of India's fastest-growing industries, and what makes this business so unique.
You'll also learn about the founder's journey, the company's business model, competitive moat, financials, growth opportunities, IPO valuation, risks, and whether it has the potential to become a long-term wealth creator.
This video is part of SOIC's 20 Unique Businesses...
How to ride this bull run!
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In this episode of SOIC, Prabhakar Kudva, CIO of Samvitti Capital, shares a practical framework for understanding market cycles, identifying leading investment themes, and building a strong portfolio. We discuss how to gauge market temperature, spot powerful themes early, find the right entry and exit points, and identify when a theme is peaking. The episode also covers portfolio construction, diversification, and key investing principles for making better decisions across market cycles.Â
👉 If you want to understand how to ride market themes, manage risk, and build a better investment framework, this episode is w...
The AI Boom Is Bigger Than Chips
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In this episode, Akshay Jogani from Xponent Tribe joins SOIC to decode the AI Data Center industry from first principles. We explore how AI, LLMs, GPUs, and data centers work, why global tech giants are investing hundreds of billions of dollars in AI infrastructure, and how the entire AI value chain is evolving. The discussion covers data center capacity, power generation, power distribution, chips, cooling, networking, key global and Indian companies, capital cycle opportunities, bottlenecks, risks, and the long-term investment thesis behind one of the biggest infrastructure build-outs of...
How to find unique businesses?
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In this podcast, Ishmohit and Naman discuss the UNIQUE Framework—a practical approach to identifying businesses with long-term compounding potential. Through 20+ real-world company case studies, they discuss how to identify underappreciated businesses, niche market leaders, industry inflection points, quality management, institutional ownership trends, and earnings scalability across sectors like industrials, specialty chemicals, auto ancillaries, consumer businesses, and platform companies. If you want to build your own investing framework and discover unique market leaders before they become obvious, this episode is worth your time.
The next big power capex boom!
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In this episode, we break down India's Thermal Power industry and explain why it is entering a new capex cycle despite the rapid growth of renewable energy. We cover the industry's evolution, key growth drivers, the complete value chain, and analyze major companies including NTPC, Adani Power, JSW Energy, Coal India, NLC India, BHEL, Thermax, Power Mech, and Triveni Turbine. Learn where the biggest opportunities, competitive advantages, and long-term investment themes are emerging in the power sector.
If you want to understand the thermal power value chain...
Will PPFAS make a comeback?
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In this episode, Ishmohit Arora and Sarthak Garg, Co-founders of SOIC, discuss the investment strategy of PPFAS Mutual Fund and why it has become one of the most talked-about funds in India. They explain value investing, the impact of a large AUM, portfolio allocation, AI and IT exposure, realistic return expectations, and how to build a diversified mutual fund portfolio. If you want to understand how long-term value investors think and make better investment decisions, this episode is worth your time.
This Company Owns 0 Cars
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In this episode, we deep dive into CarTrade Tech, one of India’s leading internet-based automotive marketplace businesses. We explore the listings business model, CarTrade’s competitive advantages, OLX acquisition, operating leverage, growth triggers, AI-related risks, and the company’s long-term earnings potential. We also discuss why management believes profits could scale significantly over the next 4–5 years and what investors should track going forward.
👉 If you want to understand platform businesses, network effects, and the future of India's digital classifieds industry, this episode is worth your time.
One EV beneficiary?
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In this episode, we break down Minda Corporation and the broader Auto Ancillary industry using six key mental models that help identify winning businesses. We analyze the company’s business model, product portfolio, JV-led growth strategy, EV opportunities, premiumization trends, FY30 growth ambitions, competitive positioning, risks, and valuation. We also compare Minda Corporation with peers like Uno Minda, Lumax Auto Technologies, Pricol, SJS Enterprises, and Samvardhana Motherson to understand the industry's evolving landscape.
👉 If you want to understand how to identify high-quality auto ancillary businesses and evaluate long-term growth opportunities in India...
AI proof IT Business
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In this episode, we analyze Indegene, a Life Sciences and Pharma-focused IT services company, and explore how AI is reshaping the IT industry. We discuss the right mental model for evaluating IT companies, the difference between horizontal and vertical IT businesses, outcome-based pricing, revenue per employee, business segments, growth drivers, financial performance, risks, and valuation. The episode also highlights why Indegene may benefit from AI through domain expertise, regulatory capabilities, and productivity gains.
👉 If you want to understand the future of IT services and identify businesses that can benefit from AI rat...
When will the Bull Market Start? Q4FY26 Earnings Check
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In this SOIC earnings special, we analyze the latest quarterly results across 1,400+ Indian companies and identify where growth is emerging beyond the major indices. We discuss key themes shaping the market, including sector rotation, manufacturing, healthcare, pharma, CDMO, defense, and precision engineering, along with standout performers such as Shilpa Medicare, Gland Pharma, Thangamayil, Astra Microwave, and others. The episode also explores why the next generation of wealth creators may emerge outside the Nifty 50 and what investors should watch in the coming quarters.
👉 If you want to understand where earnings growth is acc...
A Hidden Indian Company Inside Every Protein Shake, Bakery & Tablet You Consume!!
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In this episode, we deep dive into Sudeep Pharma and understand why it stands out as a high-margin business in the pharma and specialty ingredients industry. We discuss the company’s business model, excipient and nutrition segments, battery chemicals opportunity, CAPEX plans, moat, and key risk factors. The episode also compares Sudeep Pharma with companies like Vinati Organics and Clean Science and Technology to understand margin sustainability and competitive advantages.
 If you want to understand high-margin B2B pharma businesses and identify companies with strong moats and long-term growth potential, this epi...
The Biggest AI Winner
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In this 7th episode of SOIC’s “20 Unique Businesses” series, we deep dive into Alphabet — one of the world’s most integrated and difficult-to-replicate AI businesses. This episode covers the 5 layers of the AI value chain, Google Search, YouTube, Google Cloud, Gemini AI, TPUs, AI monetization, business model, growth drivers, management quality, valuation, and key risks. We also explore why Alphabet continues to grow at scale despite rising AI competition from ChatGPT, Anthropic, and other AI models.Â
 If you want to understand how global technology leaders compound for decades and identify the biggest...
One Invisible Business With a Hidden Moat
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This episode covers the 6th unique business in our 20 Unique Businesses series. We discuss a high-quality value-added manufacturing business that transformed from a commodity player into a speciality products leader with strong margins, pricing power, export strength, and consistent cash flow generation. The episode also covers business model, growth triggers, capex plans, competitive advantages, valuation, and key risk factors, along with how the company handled US tariff challenges while maintaining strong profitability.Â
If you want to understand how unique businesses create long-term wealth through value addition and strong execution, this episode i...
The ETF King of India
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In this episode, we break down Nippon India Asset Management Company and the rapidly growing asset management industry in India. We explore its strong financials, market share gains, and ETF leadership, along with the mental model behind successful AMCs. The discussion covers business model, growth drivers like SIP and passive investing, product mix, and competitive positioning. We also evaluate key risks and valuation to understand whether this is a long-term compounder in the making.
If you want to understand how AMC businesses grow and how to identify high-quality compounders early, this...
This sector will explode in India | Deep Tech: Semiconductor, Drones & Defence
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In this podcast, we sit down with Rajeev Mantri from Navam Capital to break down one of the most important themes for India’s future — deep tech investing.
We discuss what deep tech really means, how it is different from traditional businesses, and why it can drive India’s journey from a 4 trillion to a 10 trillion dollar economy. You will learn how venture capital works step by step, how investors evaluate startups, and how idea pipelines are built through networks, founders, and institutions.
We also cover real case studies like A...
India’s Next Big CDMO Winner?
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In this episode, we break down Sai Life Sciences, the fourth company in our 20 Unique Businesses series, where we explore high-quality companies with strong competitive advantages.
Sai Life Sciences is a unique CRDMO player in the pharma sector that earns 100% of its revenue from global innovator companies like Pfizer and AbbVie.
We explain how the CDMO and CRO industry works, why integration from research to manufacturing is a powerful business model, and how this company stands out from others in the space.
We also cover industry growth...
One Super Unique Semiconductor Stock
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In this episode, we break down one of the most unique businesses in the world — ASML Holding, a company that sits at the heart of the global semiconductor industry.
We explore how a single machine worth $400 million powers modern technologies like AI, data centers, smartphones, and advanced chips. From understanding the semiconductor value chain to ASML’s monopoly position, we dive deep into what makes this business so powerful.
We also cover the company’s history, growth drivers driven by AI capex, strong financials, valuation framework, and the key risks...
I Studied India's Lead Recycling Industry and Found this Company!
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In this episode, we break down Gravita India — a fast-growing recycling company benefiting from strong industry tailwinds.
We explore how the recycling sector is evolving due to decarbonization, resource scarcity, and government regulations, and why this is creating a J-curve growth opportunity.
We also analyze Gravita’s business model, sourcing advantage, financial performance, and future growth triggers like capacity expansion and value-added products.
If you want to understand a unique manufacturing business with strong fundamentals and long-term potential, this episode gives you a complete, simple breakdown.
A Unique Market Leader with Tailwinds? | Semiconductors, Green Energy, Data Centres
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In this episode, we break down INOX India, a unique business with strong entry barriers and market leadership.
We explore how the company operates in the cryogenic equipment space, enabling the entire industrial gas ecosystem — from storage to transportation.
We also discuss its strong financials, high return ratios, and why this business is difficult to replicate.
Along with this, we cover key growth drivers like LNG, semiconductors, and space applications, and understand the risks and opportunities ahead.
One AI Tool to catch Market Bottom
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In this episode, we break down a powerful stock market strategy using real data and backtesting.
We explore how key factors like PE ratio, Price-to-Book, and earnings growth impact Nifty returns, and why lower valuations often lead to better future returns.
We also look at the current market situation — where valuations are getting cheaper but earnings growth is slowing — and what that means for investors.
If you want to understand when to invest, how to think about market cycles, and how to build a strong long-term investing appr...
I Studied India's ENTIRE Recession-Proof Healthcare Sector
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In this episode, we break down the entire healthcare and pharmaceutical industry — one of the most recession-proof sectors in the market.
We explore how the healthcare value chain works, from hospitals and domestic pharma to CDMO, diagnostics, API companies, and emerging segments like GLP-1 drugs and medical devices.
Along the way, we decode the unit economics of each segment, understand where the real money is made, and analyze 40+ companies across the healthcare space to identify the fastest-growing businesses.
If you want to understand healthcare as an...
Reality of Microcap Investing no one talks about
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In this podcast, we explore the real world of microcap investing — beyond the hype.
Microcap stocks can fall 50–60% in bad markets, but they can also deliver massive returns when cycles turn. The key is understanding these cycles and surviving the drawdowns.
Gaurav Agrawal, with over 15 years of experience, shares how liquidity, investor behavior, and market phases shape this segment — and why the best opportunities often come when no one is interested.
If you want to learn how to think clearly in volatile markets and build conviction during tough...
I Found These Interesting Mutual Funds & ETFs — Global & Indian Both
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In this episode, we explore how to invest smartly during a bear market using ETFs and mutual funds.
We break down a simple 3-framework approach to ETF investing — focusing on long-term sector trends, undervalued opportunities, and momentum plays.
We also discuss powerful global themes like defense and electrification, along with key opportunities in Indian sectors such as banking, pharma, and momentum investing.
Finally, we analyze a couple of high-potential mutual funds using a practical, bottom-up approach.
If you want to navigate market volatility with clarity an...
My Strategy for this Market Botton
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In this episode, we analyze the current state of the Indian stock market and understand whether the market is nearing a bottom.
We discuss how narratives influence investor behaviour, why market sentiment becomes extremely negative near bottoms, and what historical data tells us about Nifty valuations when the PE ratio falls near 20.
We also explore market breadth indicators, SIP strategies based on valuations, global market comparisons, and sectors where opportunities may be emerging including recycling, regional banks, gold lenders, hospitals, data centers, chemicals, and CDMO businesses.
If...
4 AI powered IT Businesses
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The IT sector is facing valuation derating, and many investors believe that Artificial Intelligence could disrupt traditional IT services. But is AI really a threat, or could it actually increase the demand for software and engineering talent?
In this episode, we break down what is happening in the IT sector, why this fear has emerged, and what the data actually suggests. We also discuss four unique companies whose business models may benefit from the AI wave rather than be disrupted by it.
The goal of this episode is to...
How to manage market crashes ?
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In this episode, we discuss how global macro events like the Iran–US–Israel conflict create fear in financial markets and how investors should respond during uncertain times.
Using historical data from events like the Kargil War, 9/11 attacks, and the Russia–Ukraine war, we explore how markets often see short-term drawdowns but eventually recover over the long term.
We also talk about behavioral investing, the “behavior gap” that causes investors to underperform markets, and why emotional decisions can hurt long-term wealth creation.
Finally, we look at current Nifty 50 v...
Market Pulse 2026: Small Caps, AI Beneficiaries & Data Center Proxies
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In this episode, we are joined by Siddhant Bhandari, CIO at Persistence Capital. we do a complete market temperature check on the Indian stock market, especially small caps. We analyze earnings trends across sectors, identify industries showing strong growth, and discuss emerging themes like manufacturing, CDMO, internet businesses, and data center proxies. We also decode why small caps corrected, what history teaches about market cycles, and how long-term investors can find opportunities even during drawdowns. This conversation helps investors understand where the market stands today and which sectors could surprise with future earnings...
Will AI kill the Indian IT Sector or Deep Value Opportunity?
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In this episode, we break down the future of the IT sector and how AI is changing the entire industry.
We discuss why IT stocks have been falling, whether the traditional IT services model is breaking, and how Global Capability Centers are taking share from outsourcing companies.
We also analyse different IT segments like ER&D, mid and small-cap IT, vertical specialists, and SaaS companies to understand which areas face disruption and where real opportunities may still exist.
If you want to understand how AI could impact IT...
I Found 6 Unique Businesses in India (Here's the Framework)
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In this episode, we break down how to identify truly unique market leaders — businesses with strong moats, scalable growth, and structural competitive advantages.
We cover six differentiated business models across sectors: an auto ancillary proxy to the ICE cycle, a specialty chemicals company with sustainable margins, a pure-play CDMO pharma model, a waste-to-wealth specialty fats business with deep sourcing moat, and global semiconductor equipment and advanced packaging players benefiting from the AI capex boom.
More importantly, we discuss how these could potentially evolve into future stock market leaders as th...
50 Companies, 14 Industries, 7 Growing Themes— The Only Summary You Need
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In this episode, we break down the Q3 results season and explain what the numbers are actually telling us.
We discuss why indices are misleading, why this is a stock picker’s market, and how earnings, expectations, and market cycles really drive returns.
We cover:
How to read broader market earningsWhy good results still lead to stock price fallsReversal vs momentum investingPortfolio construction in a weak marketKey trends across midcaps, auto, banks, microfinance, ma...This Industry will become 10x
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In this episode, we speak with Sagar Arya, Co-Founder of Xponent Tribe, to understand the global commercial aerospace industry and why India is becoming a key part of the global supply chain. We discuss massive order backlogs at Airbus and Boeing, supply chain failures in the West, and how this is creating a big opportunity for Indian aerospace companies. The conversation breaks down the entire aerospace value chain in simple terms — from raw materials and machining to tier-1 suppliers, MRO, and final aircraft as...
Gold Will Keep Rising Until THIS Breaks
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In this episode, we explain why gold is going up and what it tells us about the world economy. We talk about how the old US-led global system worked, why it is breaking now, and how rising debt, money printing, and geopolitical tensions are changing where money flows. You’ll learn why central banks are buying gold, why this rally is not driven by retail investors, and how wars, tariffs, and frozen reserves have reduced trust in global systems. We also explain the commodity cycle, why metals li...
These 4 Indicators Scream Bottom in Bear Markets
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Most stocks are down 28–30%, but the index doesn’t show it.
So… are we really in a bear market? And is the bottom close?
In this episode, you’ll learn:
Why the real pain is hidden in mid and small capsHow to spot early signs of market bottomingA 4-indicator framework used to judge market cyclesHow to plan SIPs and lump-sum investments during bear marketsWhy this is about preparing, not predictingIf you want a cle...
Fundamentals vs Technicals: Who wins?? 🥊
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In this episode, SOIC speaks with Himanshu Sharma (The Chartist) about how successful investors actually think about the stock market.
Instead of choosing between fundamentals or technicals, this conversation explains how both work together to build a practical investing framework. You’ll learn why fundamentals help filter good businesses, why technicals help with timing and risk management, and how the best investors combine the two.
The episode covers key ideas like fundamental catalysts, relative strength, stage analysis, market cycles, and why multibaggers are often found ne...
How to sell high quality stocks like Trent, Dmart etc
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In this episode, we explain why past returns don’t guarantee future returns, even for high-quality businesses.
Through real case studies like HDFC Bank, DMart, Page Industries, and Asian Paints, we show how high valuations, slowing growth, and strong market narratives can lead to years of poor or zero returns.
You’ll learn why big companies grow slower over time, how competition impacts performance, and how to use a simple framework to question popular, expensive stocks.
This episode is about thinking clearly when everyone is optimistic.
Top 7 Investing Ideas for 2026 | Themes, Frameworks & Real Examples
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In this episode, we share 7 big investing ideas for 2026 to help you invest with clarity after a volatile 2025.
You’ll learn how to spot tailwinds, avoid headwinds, build a clear investing setup, and think long term.
Each idea is explained using practical company and sector examples, so you can apply it in real investing decisions.
You’ll also understand when to stay invested, when to exit, and how compounding works over time.
What this episode covers
- Tailwinds vs headwinds
- Inve...
All You Need to Know About the Jewellery Sector | Industry Expert Masterclass
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In this episode, we deep-dive into the Indian Jewellery Industry with Abhishek Jain — a jeweller with over 30 years of industry experience and an active investor.
This podcast covers the complete jewellery business from an investor’s point of view, including:
Jewellery industry basics & value chainNational and regional players and how they scaleKey investor metrics like margins, ROCE, studded ratio & inventory turnsContract manufacturers and their unit economicsCertification companies and thei...