This does not constitute investment advice. Returns mentioned herein are in no way a guarantee or promise of future returns. Stock market investments are subject to market risks.


And Even After Almost A DECADE, Since Our Recommendation,
This 'Little-Known' Company Is Still Growing!
 Act Right Away And You Can Get Our
Latest List of Such Potential Multibaggers 

Dear Reader,

This is Anisa Virji, Managing Editor at Equitymaster, and the facts that I am going to relay to you happened way back in 2008.

You see, our research team was tracking a small business based out of Varthur Hobli for months.

Yes, Varthur Hobli is a real place, and it's easy to picture it in your mind…

Located in an overcrowded and congested suburb of The Silicon Plateau of India, Bangalore, this small company could easily be mistaken for 'just another small business'.

Varthur Hobli looks just like the thousands of industrial areas scattered across Indian cities.

With buzzing small businesses and vendors of miscellaneous products living cheek by jowl in overcrowded, potholed lanes…

And in this same congested area operated a very unusual company!

What Was So Unusual About It?

First, it was not an IT company, even though Bangalore is known for those kind of companies.

Even more unusual was the fact that this well-awarded and successful company was operating without really drawing any attention to itself.

From the outside, it looked like any of the other small businesses nearby…

In fact, it's highly likely that you would walk past it and not know that such a successful company existed there!

No big glass facades outside…

No large security presence…

An ordinary entrance that led to an extraordinary company!

In our view…

It Was A FIND!

Let me explain…

For us at Equitymaster to classify a small cap as a 'Find', means it's something extra special.

And make no mistake… this company was the DEFINITION of a 'Find'!

Well, a company has to go through a number of checks to be classified as a 'find'.

Almost every aspect of the business that can be checked…is checked.

Right from scrutinizing the financial reports to in-depth sectoral studies, checking the competitive advantage to promoter record and a lot more…

In short, it's an exhaustive study that covers almost all the factors you could judge a business on!

And these factors have been developed after putting in nearly 20 years into stock market research.

So, how did this company do?

Well, it passed all our checks!

Plus, it further stood out from the crowd due to reasons like…

As you can guess…It was a Find!

But just going by numbers wasn't enough for my research team.

And that's why one of the researchers was sent to track it 'on the ground' in Varthur Hobli…

What Happened Next Was Even Better
Than The Financial Trail!

When my researchers meet with the top management they get a peek into the company…

It helps them check that everything they read matches up to what they finally see.

And at Varthur Hobli, my researcher was pleasantly surprised when she walked in and found a small business, which had everything it needed to become Our Biggest Multibagger Ever!

Everything was going good but there were still more steps to be cleared.

She came back and shared the findings with her team…

Discussions and meetings became a daily affair; brainstorming sessions popped up every alternate day or so…

Research drew forecasts, conducted valuations, and as a final check, they went to our matrix…

Yes, over the years, through our learnings and experiences, we have designed our own proprietary risk calculator - Equitymaster Risk Matrix or ERM® for short.

So, once all the checks were in place…

We decided to let our subscribers in!

We recommended the stock on 15 January 2009.

And today, that 'small company from Varthur Hobli has an unbelievable return of 7,321% over a period of 9 years three months and is one of the biggest multibaggers in across all our services!

But our story is not about just one company…

It's About Our Stringent, Well Tested,
And Proven Stock-Picking Process!

Because it is only through a strenuous process-driven approach that we can:

Yes, that's what we aim for!

Recommending high-potential small caps with the stable returns of blue chips…or, what we like to call – Junior Blue Chips.

In fact, right now my research team has found 3 such Junior Blue Chips which meet all our criteria…

We've published full information on these high-potential Junior Blue Chips in this Special Report called: 3 Stocks To Grow Your Wealth.

And because you've given me so much of your time today, I would like you to have a Copy of this report too…

In fact, there is a way you could get this Special Report Absolutely Free.

And I will shortly tell you how…

Because we both know that it's not just about 3 or 5 or even 10 small caps.

What if there were a way you could keep getting regular recommendations of high-potential small caps?

Yes. It's possible.

I'll show you a way you could do that in a bit…

But first understand a bit more about the potential of certain small caps.

As I am sure you know, small caps are some of the most under-researched businesses of the market.

And the main reason behind that general lack of awareness is that it's difficult to get all the information you need.

That's why we pay so much attention to research.

So much so that our intensive research process also includes meeting up with managements in order to recommend businesses that don't just have stable business models but a high-growth potential too.

Our aim is to pick out small caps that could perform like these companies have…

Change in share prices over 10 years
Company Feb-08 Feb-18 Change
Mayur Uniquoters Ltd. 7.06 507 7,082%
Ashiana Housing Ltd. 28.25 188 565%
Avanti Feeds 7.59 2401 31,531%
VIP Industries 25.77 343 1,229%
La Opala RG Ltd. 6.41 628 9,691%
Hawkins Cookers Ltd. 187 3058 1,531%
Cera Sanitaryware Ltd. 72.50 3465 4,680%
VST Tillers Tractors Ltd 105.53 2478 2,248%
Atul Auto Ltd. 14.11 415 2,839%
Vinati Organics Ltd. 20.58 953 4,531%

Now before we proceed, let me be clear about one thing:

Now, please understand - None of these companies were our recommendations in December 2004.

We are giving them here as examples to show you what's possible with 'good' small caps in the long run.

But still, just imagine…if someone had invested in one of these back then, they could have easily turned Rs 10,000 into Rs 750,700 or even Rs 2,037,000!

So in our new Special Report we have used our exacting process to pick out the Small Caps that could display the same potential.

And there is a way you too could get this Special Report Absolutely FREE.

But first, I'd like to share why I believe that some small caps make total sense….

The Big Potential of Small Caps
'It's not competitive for them, but it's a very nice business for us.'

Said the promoter of Balkrishna Industries in 2009…

Balkrishna Industries is a small tyre manufacturing company. And the 'them' the promoter referred to are global giants Michelin and Bridgestone!

His company produces something that Michelin and Bridgestone don't…

Off-highway tyres.

Tyres used for earth-moving equipment vehicles, industrial construction vehicles, all terrain vehicles, and lawn and garden vehicles.

You guessed it…

It's a super niche sector!

And Balkrishna Industries is one of the leading manufacturers in that niche.

(Point to Remember: our process has revealed to us that 'super niche' sector leaders usually go on to become some of the best performing small caps.)

So, my team researched the financials, met the management, performed all our checks, including the ERM® Analysis…

And we recommended a 'Buy' on 15 October 2009.

This 'Little-Known Small Tyre Company' delivered an exceptional 1,058% in six years and eleven months.

Balkrishna Industries

Past performance does not guarantee future results.

Then there was eClerx Services, which delivered 2,421% …

eClerx Services

Past performance does not guarantee future results.

City Union Bank delivered 489% in six years eight months…

NIIT Technologies gave a return of 550% in six years nine months…

The list is long…

There are many more like these and we are always researching and finding the best companies for our valued subscribers…

In fact…

We Reject More Companies Than We Recommend

Along with finding good small cap ideas, rejecting bad ideas is equally important.

And that is where Equitymaster's 'on the ground' approach and ERM® really helps…

Like when the senior management of a 'good' IT company said something along the lines of…

We don't know what the competition is up to. We are focusing on our business only.

My research team's alarm bells immediately began to ring!

I would love to tell you the company's name, but due to legal reasons, I cannot disclose the names of all those businesses we rejected (we don't want any defamation cases!).

That IT company looked great on paper, but we knew for a fact that the competition there was intense.

The 'we don't know what the competition is up to…' outlook meant that the management was not in tune with its business and industry developments.

It was a Big Red Flag in our books.

We have seen the Kodaks and Nokias of the world collapse because they thought like that…

ArrowOur experience tells us that, in small caps, how the management thinks, ideates, plans, and reacts could make or break the business…

For that reason alone, we have made management quality one of the key parameters in our Equitymaster Risk Matrix.

Finally, after other checks confirmed our opinion research struck the company off our List.

It was a good decision…

When we last checked, the stock was worth less than a rupee, though in the 2010 boom it had touched Rs750!

That's more than a 99% fall.

It would've been an absolute wipeout of any stockholder's wealth.

Then there was another company that looked good on paper…

When research met the management, the promoter spoke very passionately and positively about his business and said that his company could do even better than its biggest competitor because 'they both had the similar models'…

Similar business models?

Through our research, we knew that the biggest competitor had more advantages and a completely different business model plus a much stronger brand name…

The promoter either did not know his exact business model or he was just speaking rashly, either of which was not a good sign.

He also assured us that within a few quarters his business would zoom!

Point to be noted: There was no trend, no big change in his business plan nothing to indicate any coming change…

So research decided to be a little more patient and not rush in…

Within a few quarters, the numbers plummeted.

But our subscribers didn't lose!

Of course, you could say all this is subjective… A promoter or a management might say something, but that might not give the whole picture…

We agree!

That's why our research team got more objective and developed the Equitymaster Risk Matrix or ERM® to help quantify the risk attached to a stock.

It is our final tool in…

ERM®: Avoiding Wealth Destroyers…

The ERM® is a matrix designed to evaluate the key risks attached to a business, its financial history, and its management…

And it ranks not just the company but also the sector in which it operates based on its relative risk profile.

Yes, we can proudly say that over the years ERM® justified its creation by adding more depth to our recommendations…

Like in late 2008 and early 2009, when markets were at their nervous best, our Buy recommendations on Asahi Songwon Colors, Indoco Remedies, eClerx and KPIT Cummins were backed by research's confidence in the low-risk profile of these companies as shown by our risk matrix.

These stocks went on to generate double and even triple digit returns.

In fact over time we have refined our risk matrix, keeping in mind new learnings.

Yes, we can say that the ERM® has really helped us identify the best stocks to recommend to our subscribers when several of them were looking attractive.

It is one of the main tools we use in reaching our final decisions, and it guides us in eliminating the bad stocks…

So that we recommend only the good stocks.

That's why we keep this as a final test…

That's why when we List out our 'strong, high-potential businesses' for our subscribers…

They Listen.


- Satya Pal Gupta, Delhi

We've been in this industry for a LONG time.

So long…that we were the first Indian entity in the finance domain to venture onto the internet.

Yes, we have more than 22 years' experience online and have around 1,764,790 readers across 72 countries worldwide…

And even more importantly, we have kept the trust bestowed on us by our large subscriber community.

"I like your analysis, guidance and suggestions which you provide on a very regular basis. Subscription to your services is worth much more and if someone follows the advice, he/she is sure to create wealth. All the analyses are backed up with intensive studies. Great Job!"

- Vijay Chopra, Lucknow

That trust means a LOT to us, that's why we work really hard on our research.

We don't shirk the hard work because we want our reports to be really Special!

And for this Special Report, we were sure that we wanted the…

Best Of The Best!

Welcome to the world of …

Money-Multiplying 'Junior Blue Chips'
Revealed In Our Latest Special Report:
'3 Stocks To Grow Your Wealth'

Small Cap Jackpot – 3 Stocks To Grow Your Wealth

Do you want to know the name of the company that got us that 7,321% return?

Well, it is the exclusive licensee of the renowned 'Jockey' brand in India, Nepal, UAE, Bangladesh, and Sri Lanka.

I will soon tell you its name…

But as I said earlier,

My research team has worked very hard on a Special Report and has come up with a select list of special companies…

We call those Junior Blue Chip - Junior Blue Chips.

And the best news is that each one of these 3 stocks holds the potential to generate three of even four digit gains in the years to come.

But we both know that to make the most out of Small Caps, one needs to get in early!

Plus, as we discovered that niche leaders do well…we decided to go one step further for this special report.

These 3 businesses are not only niche leaders; they are niche Giants!

They enjoy Absolute advantage over their competitors and are giants in their niche due to better pricing and higher margins, as well as many other reasons…

My experienced research team has spent long hours of careful research to find such profitable niche companies and decode their advantages…

These businesses could become the big performers in one's portfolio in the years to come…

Isn't that simple?

Want to know about one of them?

Well, it's our Special Hard-Earned Secret, but just for now…

I Will Let You On to Our Secret!

Let's call the first one, Junior Blue Chip #1, or just JBC#1 for short.

JBC#1 is a solid small cap business with multiple triggers for growth.

A specialized high-capability business which has carved a niche for itself in a fiercely competitive industry. 

With over a decade of experience…

And a conscious focus on specific high-growth segments…

This business has not just grown consistently but has actually redistributed wealth to shareholders in the form of dividends and via share buybacks.

So, if you're looking for long term growth potential…with a solid PROVEN Business plane…

This small cap stock is the definition of what we call a 'Junior Blue Chip'!

And my research team has even pin-pointed the right price to buy it at.

So, don't delay in getting the Special Report!

And with the offer I have in mind, one could…

Get Hands On Profitable Information For
Almost Nothing!

Richa Agarwal

Richa Agarwal

As I said…

These Junior Blue Chips are the best of the pick!

These stocks are not just any investment…

Junior Blue Chips potentially have the safety and stability of blue chips with the high growth rate of small caps.

I will tell you more in a moment.

First, let me introduce Richa…

Richa Agarwal is the Editor of our extremely popular small cap recommendation service – Hidden Treasure, and an astute Research Analyst.

Richa, in my opinion, truly goes where few fear to tread…

Because, lest we forget…small caps are risky. Yet Richa is determined in her efforts of finding and recommending solid and stable businesses in that realm.

She is one of those people who actually enjoy going through numerous company details and finding those small caps that match her and her team's expectations.

Her degrees in finance as well as engineering add to her knowledge and she has a strong foundation in analysis and research.

Why am I detailing Richa's strengths?

Because it is these very small details to her personality that made me confident of her strong research abilities.

And what's more… she has proved it time and again by identifying the best opportunities and recommending them to our subscribers.

You would agree, in the end…it's the achievements of our recommendations that matter…

That's why I would like to tell our subscribers what happened to our recommendations in the catastrophic years of 2008 and 2009…

If you remember, that was the time when the stock market crumbled and newspapers signaled widespread alarm…

It was a Terrible Tuesday for the bourses. The Sensex saw its biggest intra-day fall when it hit a low of 15,332, down 2,273 points. However, it recovered losses to some extent and closed at a loss of 875 points at 16,730.

Trading was suspended for one hour at the Bombay Stock Exchange after the benchmark Sensex crashed to a low of 15,576.30 within minutes of opening, crossing the circuit limit of 10 per cent.

At the time of suspension, the Sensex was quoted at 15,576.30 points, plunging 2029 points (11.53 per cent) from Monday's close


Even during those terrible years, my research team did not get flustered and the well-researched recommendations they made in those trying times generated returns like these…

Returns Investment Period
250% In 2 Years
110% In 2 Years 4 Months
93% In 1 Year 8 Months
217% 3 Years & 11 Months
124% In just about 7 Months

Past performance does not guarantee future results.

And That's Not All…
Every Succeeding Year, We Have Found
Small Caps That Have Given Solid Returns

Just take a look yourself…

As you might guess, ALL this has made Hidden Treasure an extremely popular service with subscribers.

They say this and more…

"I have been with equitymaster for nearly 20 years - happy to have made a lot of money - Really investor friendly and independent analysis. Compliments to Research team."

- Dildar Singh, Thane

…Because our recommendations are based not on opinions but on solid research, and several tests and checks.

…Because our recommendations have guided them to decide wisely over the years.

And soon, you might join them…

… Because you too could potentially profit from all this.

With this awesome opportunity to try our small cap recommendation service…

Hidden Treasure

Hidden Treasure is the very same recommendation service that recommended the small company in Varthur Hobli- Page Industries.

And do you know…

We still haven't closed our recommendation on the small company from Varthur Hobli even though it has already generated a mindboggling 7,321% returns!

All those other successful recommendations I mentioned earlier also came from Hidden Treasure.


Just for Now…
You Can Get Your Hands On An Incredible Offer…


You can try our Hidden Treasure Report with no obligation for 30 days.

We will hold nothing back…



And of course you will also get our Special Report – 3 Stocks To Grow Your Wealth.

The Special Report on 3 'Junior Blue Chips' will give:

All That At 50% Discount on The Cost Of Hidden Treasure.
Just Rs 6,000 2,950

As I said,

You can also see all our past recommendations of Hidden Treasure.


You Can Check Our Track Record!

We believe in information and transparency, and it is our mission to create informed investors…

To fulfill that aim, I offer you the incomparable opportunity to put us to the test, check our returns, see how we did…

I also want to tell you something…

The quadruple digit returns you saw above are extraordinary returns. Our research leads us to these returns at times but it wouldn't be fair to say that these kind of returns are generated on every recommendation we make.

You can see it for yourself once you see all our past returns.

Because once you sign in as a subscriber, you will get your hands on everything - from our past records to our present recommendations of Hidden Treasure.

In short, you can check us out…completely.

Yes, as our subscriber you can check and verify our results to your satisfaction…

See what we said and check every statement of ours…

Because we believe that it is important for our subscribers to be fully informed.

It also allows us to prove our claims to you.

I am sure you will also like our current recommendations. After all they are thoroughly researched and our best recommendations for now.

Now, I know you will like Hidden Treasure… But even if there is a one in a million chance that you don't…

Then any time within the next 30 days…

Or even on the 31st day IF you feel that you don't want to keep the Hidden Treasure…

Well, we will be sad to see you go, but we will refund you…


Yes, you will get fully refunded!

And there's STILL More…

Remember, you also get the past reports and current recommendations of Hidden Treasure when you sign up for the offer…

Well, you don't need to turn them up!

ALL the past reports of Hidden Treasure will stay with you along with the Special Report- Junior Blue Chips with this

Incredible 30 days, 100% refund policy.

Here's what one subscriber had to say about our research…

"I am member of Equitymaster since 2008. Time & again they have provided unbiased reports in all market conditions. Their reports always ensure that we investors take an informed decision with rationale thinking rather than being swayed away with the market sentiments."

- Shailesh Mistry, Bangalore

And since our aim is to empower investors through information…

I won't lie to you:

Sometimes We Make Mistakes Too

Like the mistake we made in recommending MIC Electronics in July 2009…

The key reason for our belief in the company was its prominent presence in the fast growing LED lighting space, where it is a market leader in India. The company had grown strongly in the past, and its balance sheet also appeared good.

However, despite our good expectations, the company failed to capitalise on the growth opportunity. In fact, it lost a major order from one of its key clients.

Then, we also had some issues with the company's disclosure levels.

Moreover, the management's silence on several issues facing the company had been deafening.

Given this, research recommended our subscribers to sell the stock, at a loss of 45% from our recommended price.

Apart from MIC Electronics, there were some other companies that did not do as per our expectations, such as…

Company name Loss %
SREI Infrastructure Finance Ltd. -71%
Ahluwalia Contracts (India) Ltd. -60%
Bartronics India Ltd. -32%
Innoventive Industries Ltd. -81%

But these incidents have made us even more careful with our Hidden Treasure recommendations.

So yes, you can't expect every small cap stock recommendation to be a winner. But even if a few of them succeed in enduring the ups and downs of the market and turn multi-baggers, you'll see the benefit of our recommendations…plus maybe a lot more!

I say this because it's a proven fact.

Last Position We Closed At A Loss…
Was Way Back In 2015!

Yes, that's an impeccable record for the small cap space.

Of course, there are a few open positions which are in red…

And there might be a few which we may exit at a loss…

But as on today, we haven't closed even a single small cap stock at a loss since 2015.

In fact, Hidden Treasure recommendations have beaten the small cap index by almost 3x since inception!

See this extract from our records:

For Hidden Treasure recommendations, both open and closed, the Internal Rate of Return (IRR)# since inception in February 2008, until December 2017, is 32.1%. The IRR for the BSE Sensex for the same period is 11% respectively.

More Reasons To Take This Incredible Offer:

Special Report With Details On 3 Junior Blue Chips
Small Cap Jackpot – 3 Stocks To Grow Your Wealth

This Special Report contains 3 stock recommendations of the 'Best of The Best'. These are Junior Blue Chips that combine a high-returns potential with the stability of Blue Chips

With full report and details on each recommendation

Easy-Access to Downloadable Version of
Equitymaster's Stock Market Yearbook
Equitymaster's Stock Market Yearbook

Priced at Rs 750 normally, you will get the latest downloadable edition… Absolutely Free!

"How to Plan Your Equity Portfolio":
Our Hugely Popular Guide

Asset Allocation Guide

You will get this guide absolutely FREE when you subscribe to Hidden Treasure now.

Portfolio Tracker


Please Note: Equitymaster's Portfolio Tracker is an online stock and mutual fund tracking tool. It is NEITHER a Portfolio Management Service NOR does if offer any personalized opinions whatsoever. Additionally, all the user data is strictly private and in no way used for making recommendations. Equitymaster does not offer portfolio management service and is not registered as a portfolio manager or investment advisor.

The Portfolio Tracker usually costs Rs 330 for a year. But by subscribing to Hidden Treasure, you get it absolutely FREE.

And of course, you will also get…

And the best part is that…

You Can Get All This At More Than 50% Off…

So, Here's All That You Get

The price of Hidden Treasure should not be an issue anymore. And like I already said, you can try Hidden Treasure without any risk for a full 30 days.

If it turns out that you don't like it, just let us know before the 31st day and we'll refund the entire fee you paid. No questions asked!

You will still get to keep:

  1. All the recommendations of the Special Report- Junior Blue Chips
  2. All our past recommendations in Hidden Treasure

They are yours…no questions asked.

Sounds good?

I am sure it does and I suggest you act fast because…

  1. The volume of small cap shares traded is usually low, so getting in early can make a difference. By subscribing Now, you get that advantage.
  2. You need to Act Fast to get All the advantages of the 3 'Junior Blue Chips' in our Special Report.
  3. Through this offer, you can get 1 Year of Hidden Treasure for just Rs 2,950 instead of the usual Rs 6,000…which will be the case for the next few days only.

So don't squander this opportunity…

And if you like what you see (and I think there is a high probability of that…)

Don't do anything.

Because even in the coming years…

Even if we face inflation and raising costs, we will lock in this highly discounted rate for you- for as long as you wish.

That means unless you tell us otherwise, your card will be charged for Hidden Treasure at this rock bottom price of Rs 2,950 per year for as long as you want.

So every year, as long as you want to continue, you don't have to do anything extra…no need to call us up or mail us…

Because every year, as per your standing instructions, your membership will be automatically renewed for another year at just Rs 2,950.

And if at any point in time, you do not want to continue…

Just write to us or give us a call and we'll cancel your standing instructions right away!

In fact, we'll also send you a reminder email before we charge even a rupee on your credit card…just in case you wish to change the card or even cancel.

So, rest assured that the command of your membership is always in your hand!

But Act fast…

Because this offer will close soon.

Before I sign off, I'd like to tell you…

Something About The Two Other Junior Blue Chips!

JBC#2 is a rare player in the hospitality industry that is generating solid profits.

And the best part is that while other players in the industry are heavily debt-ridden and facing losses…

This 'Junior Blue Chip' is not just almost debt-free but has actually registered impressive topline and bottomline growth year-after-year…

With a strong brand that holds the potential to the become the next Big Blue in the hospitality industry…this stock is still available at attractive valuation.

So, if you're looking to diversify your portfolio with a hospitality stock…this is definitely one you could consider today!

JBC#3 is world's largest manufacturer in its niche and a household name already.

So, I'll have to be extra cautious lest I give away the name…

What I can tell you is that it enjoys almost double the market share of its closest competitor… it has a vast product range…extensive distribution system…and is focused on continuous innovation.

Add to that a solid growth potential in a quarter of a trillion dollar industry…

And it's definitely a Junior Blue Chip you could consider today!

So, don't delay…

As you know, the sooner you invest in a small cap…the bigger is the money making potential!

And of course, as these are small and almost unknown companies…If you delay, the stock price could go up and you could miss out on the opportunity altogether.

So, do not delay!

So, act quickly and get the Special Report on Junior Blue Chips Now!

This offer closes shortly.

Subscribe Now!

To your wealth,
Anisa Virji
Anisa Virji
Managing Editor, Profit Hunter