Masterclass Case Study: Vijay Kedia's Multibagger Selection Process

A masterclass case study for serious independent investors, HNIs and portfolio managers in training on how one of India's best-known small-cap investors picks potential multibaggers. Vijay Kedia's SMILE framework asks for a company that is Small in size, Medium in experience, Large in aspiration and Extra-large in market potential, backed by an investor with the knowledge, courage and patience to hold it. This course sets out each rule and shows how to test it with annual reports, concalls, shareholding data and screener.in. Case files on Punjab Tractors, Aegis Logistics, Atul Auto and Cera Sanitaryware show the process working. Talwalkars, small-cap illiquidity, the habit of copying an ace investor's disclosed holdings and survivorship bias show where it breaks. It closes with position sizing, holding through drawdowns, selling discipline, Indian tax and costs, a SMILE screen built on screener.in, an honest critique and a capstone in which you write your own SMILE thesis. Educational content only, not investment advice.