✨Amit Makwana✨

Navodayan | Passionate traveller

[Devina Mehra @devinamehra]

People are sharing this video for all sorts of reasons but for me it is also a symbol of what most of us try to portray as merit has a large chunk of starting #privilege - just the sheer luck of where YOU happen to be born.

This is a man who has not even finished primary school and can quote Neeraj and the Indian constitution.

Imagine if he had got the upbringing and the opportunities that most of us here take for granted. On the other hand imagine if you had been born to a landless laborer or a pavement dweller, what would have been the trajectory of your life?

I repeat something I have said many times

Merit is not just a marks to marks comparison.

Having grown up as a child of two professors in a home full of books, never having to think about money at all (In fact the only arguments with my father wee on why I was in a hurry to start earning when he wanted me to study more), can I compare my performance in exams to somebody who is a first generation learner without a proper place to live and nothing to read outside school?

Now imagine someone who has been oppressed for generations whose parents and grandparents faced untouchability and the injustice compounds.

Merit sounds like a sensible argument that you can't argue with...it is not!

Here is something I wrote in Mint a few months ago

@sanjayuvacha
@livemint

[Contraction Trader @iramyram]

RR Kabel #Rrkabel

Posted Superb Numbers

[✨Amit Makwana✨ @amitmak89]

@rishibagree @DayaShukl That's ok but why the persons in the picture is looking the same 🤔

[✨Amit Makwana✨ @amitmak89]

@VVVStockAnalyst Great content as always bhai

[Vir Das @thevirdas]

Man I love Republic TV. You have to keep up ❤️

[✨Amit Makwana✨ @amitmak89]

@VVVStockAnalyst @ismail_mo08 Subah 7 baje Pathhar bharke gadi kisne vaha pe rakhvai thi bhai ??

[Narendra Modi @narendramodi]

#Congress will have to answer 120 crore people of India about its inhuman act of brutality on innocent protestors http://bit.ly/knpjSJ

[Gurmeet Chadha @connectgurmeet]

The PM should directly reach out to students and assure them on decimating paper leak mafia & time bound action plan.

The students shud debate n protest on issues at a designated site peacefully and not do marches to parliament or PM house as it allows political goons n foreign funded NGOs to create anarchy.

All of us are on the same side- A better future of India 🇮🇳

[Muthukrishnan Dhandapani @dmuthuk]

I saw sound bites from students. They are in their teens and have yet to understand real life.

If a huge number of people march towards Parliament, the seat of the country's power, how can the police take any chances? They know anti social elements would inevitably infiltrate such protests.

Yet students expect the police force to be compassionate. They need to come to terms with reality.

The government should have dismissed Education Minister Dharmendra Pradhan long ago and come out with a clear proposal on how it plans to conduct exams in the future without leaks and in a transparent manner.

This government has become so accustomed to absolute power that it has turned insensitive even to the genuine problems of students.

Parents and elders in students families have only chosen governments that pander to their social prejudices and biases. We get what we prioritise.

I don’t know what the solution is when the government refuses to be receptive to the public, other than to say that in the future we should choose policymakers who are receptive, engage in dialogue with citizens, and whose primary focus is on education, healthcare, employment, and quality of life - instead of widening society’s fault lines.

[Prashant Shah @Prashantshah267]

Sometimes I think people born before the '90s are a different breed 😄

Survived black & white TVs, landlines, dial-up internet, Wifi, floppy disks, CDs, pagers, smartphones... and now AI.

From adjusting TV antennas to engineering AI prompts.

What an absolutely ridiculous and incredible journey to witness in a single lifetime!

[THE SKIN DOCTOR @theskindoctor13]

He's Tukaram Mundhe, a 2005-batch IAS from Maharashtra.

Over the last few weeks, you might have heard his name. That is because he was recently appointed Commissioner of State’s Food and Drug Administration (FDA). Since taking charge, the FDA has been on an absolute warpath, raiding illegal, fake, synthetic, and adulterated products. From synthetic milk networks and adulterated paneer to illegal gutkha and unhygienic eateries, nothing has escaped his radar.

Mundhe has made it clear that even the most famous names will not get a free pass. His department shocked Mumbai by suspending the food licenses of iconic establishments, such as the 73-year-old Marine Drive ice cream parlor K. Rustom & Co., alongside famous eateries like Shalimar Hospitality, Noor Mohammadi Hotel, and Rahmaniya Restaurant, after surprise inspections uncovered severe hygiene violations, including live pests and expired ingredients.

Such is the fear of his crackdowns that, just two days ago, dairy farmers were caught on video spilling hundreds of liters of synthetic milk after rumors of an impending FDA raid spread.

This is his 25th transfer in a 21-year career, a testament to his refusal to bend to political pressure. It makes you wonder: if just one IAS officer can bring about so much change, where would our country be if every bureaucrat were as uncompromising and proactive as him?

[✨Amit Makwana✨ @amitmak89]

Disclaimer: Personal view, shared only for educational purposes. Not investment advice. Please do your own research before investing.

[✨Amit Makwana✨ @amitmak89]

As MF penetration deepens across Tier-2, Tier-3 & smaller cities, SBI Funds is among the best-positioned AMCs to capture these flows.
But I would closely monitor:
→ Active Equity AUM Mix → Scheme Performance → Revenue Yield on AUM → SEBI Expense Ratio Framework

20/21

[✨Amit Makwana✨ @amitmak89]

🎯 FINAL VERDICT
At ₹574, valuations are Reasonable considering SBI Funds' Leadership Position—but certainly NOT Cheap.
Strong institutional participation should support market interest.
My View:
✅ APPLY For Reasonable Listing Gains + Long-term

21/21 🧵

[✨Amit Makwana✨ @amitmak89]

🎯 OVERALL VIEW
The SBI Funds story isn't simply about being India's Largest AMC.
The real story is 👇
SBI Distribution + 15.76 Million Live SIPs + B30 Penetration + India's Financialisation of Savings

19/21

[✨Amit Makwana✨ @amitmak89]

⚠️ KEY RISKS
▪️ 100% OFS ▪️ Capital Market Dependency ▪️ Regulatory Fee Compression ▪️ Lower Revenue Yield on AUM ▪️ High Passive AUM Mix ▪️ Scheme Underperformance ▪️ Top 5 Schemes = 43.41% of QAAUM ▪️ Valuation Not Cheap

18/21

[✨Amit Makwana✨ @amitmak89]

✅ POSITIVES
▪️ India's Largest AMC ▪️ SBI Distribution Moat ▪️ Amundi Expertise ▪️ Strong SIP Franchise ▪️ Huge B30 Opportunity ▪️ Largest PMS & SIF Platform ▪️ Debt Free ▪️ Asset Light ▪️ Strong Cash Generation ▪️ Financialisation Theme

17/21

[✨Amit Makwana✨ @amitmak89]

💰 VALUATION
At ₹574:
M.Cap: ~₹1.17 Lakh Cr FY26E P/E: ~38×
Valuation is broadly around the zone of premium listed AMC players.
At 35× FY28E PAT 👇
🎯 Anticipated Value: ~₹730
Potential Upside: ~27%

16/21

[✨Amit Makwana✨ @amitmak89]

📊 FINANCIALS
Revenue / PAT (₹ Cr)
FY23: ₹2,162 / ₹1,340 FY24: ₹2,691 / ₹2,073 FY25: ₹3,598 / ₹2,540
My Estimates 👇
FY26E: ₹4,250 / ₹3,070 FY27E: ₹4,850 / ₹3,600 FY28E: ₹5,650 / ₹4,250
15/21

[✨Amit Makwana✨ @amitmak89]

🚨 SCHEME PERFORMANCE NEEDS MONITORING
Only 11.36% of Equity & Equity-oriented schemes were in the Top Quartile over a 3-year period, as per DRHP CRISIL data.
Persistent underperformance can impact:
→ Future inflows → Redemptions → Active AUM growth
14/21