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Masterclass

Masterclass Case Study: Porinju Veliyath's Small Cap Investing Approach

A masterclass case study for serious independent investors, HNIs and portfolio managers in training on one of India's best-known small cap stock pickers. Porinju Veliyath built a reputation hunting small, ignored and mispriced companies, first with a personal stake in Geojit and later through the Equity Intelligence PMS. This course sets out the approach as Veliyath has described it in interviews and investor letters, then tests it against the record: the Geojit win, the 2014 to 2017 small cap bull run, the LEEL Electricals governance failure, a shift in views on promoters, and an FY19 to FY20 drawdown that shows how losses compound. It covers SEBI's small cap categorisation, illiquidity and impact cost, surveillance frameworks, position sizing, sell discipline, the risks of copying a star investor, Indian tax and costs, a discovery screen on screener.in, an honest critique and a capstone thesis. Educational content only, not investment advice.

Small Cap InvestingPorinju VeliyathContrarian InvestingCorporate GovernanceDrawdownsIndian EquitiesPortfolio ConstructionCase Studies

MODULES

6

DURATION

~5 hrs

TRACK

Value Investing

What You'll Master

State Porinju Veliyath's small cap approach as Veliyath has described it, and separate it from the media label

Explain why small caps can multiply through earnings recovery, re-rating and discovery, and why the same forces reverse

Judge promoter quality and governance risk in under-researched companies, using LEEL Electricals as the warning case

Measure how a deep drawdown compounds and what it takes to recover

Handle illiquidity, impact cost, surveillance lists, tax and position sizing in a small cap portfolio

Build a small cap discovery screen on screener.in and write a defensible thesis on one Indian small cap

Access Level

LEARNER

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Everything included

Full Text Playbooks

Actionable Exercises

Mobile Reading Mode

Lifetime Updates

Curriculum Breakdown

Chapter 1: The Investor and the Approach

4 Lessons

How to Read This Porinju Veliyath Case Study7 min read

Who Porinju Veliyath Is: Kotak, Parag Parikh, Geojit and Equity Intelligence11 min read

The Approach in One Page: Small, Ignored and Mispriced12 min read

Why Small Caps Multiply: Earnings Recovery, Re-rating and Discovery14 min read

Chapter 2: The Core Rules of Small Cap Hunting

5 Lessons

What Counts as a Small Cap in India: SEBI's Categorisation and Beyond12 min read

Finding the Ignored: Low Coverage, Low Institutional Ownership12 min read

Turnarounds and Asset Plays: Buying Before the Numbers Change13 min read

Meeting Management: Promoter Quality and Governance Red Flags13 min read

Valuation Discipline When a Stock Barely Trades13 min read

Chapter 3: Case Files Where the Approach Worked

3 Lessons

Geojit 1999 to 2006: When the Whole Company Was Worth About ₹3 Crore13 min read

The 2014 to 2017 Small Cap Bull Run and the Smallcap Czar Label12 min read

The Celebrity Effect: Why Prices Jumped on News of Veliyath Buying12 min read

Chapter 4: Case Files Where It Broke

5 Lessons

LEEL Electricals: When the Governance Bet Failed14 min read

How Veliyath's View on Promoters Changed, 2016 to 202112 min read

FY19 to FY20: How a 67% Loss Compounds Against You13 min read

Illiquidity, Impact Cost and the Exit Problem12 min read

Operator Stocks, SME Froth and SEBI's Surveillance Frameworks13 min read

Chapter 5: Portfolio Construction and Risk

4 Lessons

Position Sizing and Diversification in Small Caps12 min read

When to Sell: Thesis Break, Re-rating Done, Liquidity Window12 min read

Copying a Star Investor's Portfolio: Disclosure Lags, the 1% Blind Spot and Fake Ads12 min read

Taxes, Costs and Surveillance Lists for a Small Cap Portfolio12 min read

Chapter 6: Applying It Yourself

3 Lessons

Building a Small Cap Discovery Screen on screener.in14 min read

Critique: Where the Approach Falls Short12 min read

Capstone: Write a Small Cap Thesis on One Indian Stock15 min read