Novastar International Fund: Illustrative Investments

The fund invests in profitable, dividend paying small and mid-cap companies that have the potential to emerge as stars over a medium term investment horizon.

Amar Raja Batteries Ltd.

Amar Raja is a JV partner of Johnson Controls, USA. It has a 26% market share of automotive battery and a 30% share of industrial battery market in India. It has nearly trebled manufacturing capacity over the past three years. India's rapidly growing four-wheeler, two-wheeler markets and industrial growth are driving battery demand. India is also a growing export hub for automotive and engineering components. Revenues rose from $81M in 2006 to $378M in 2010 while net income rose from $5.1M to $32M.

Bajaj Electricals Ltd.

Bajaj Electricals is a leading player in lighting, consumer durables and project engineering. Lighting consists of lamps, tubes and luminaries. Consumer durables cover appliances and fans. Engineering and projects comprises electrical transmission line towers, poles and special projects including stadium lighting and rural electrification projects. In the consumer durables business, Bajaj is the Indian market leader in electrical fans, geysers and irons. Revenues rose from $210M in 2006 to $566M in 2010 while net income rose from $7M to $29.5M.

Shriram Transport Finance Corporation Ltd.

Shriram is a leader in truck financing in India. It has a market share of around 25% to 30% of the used truck financing business. It has expanded its product portfolio to include financing of used tractors, small commercial vehicles, 3-wheelers, passenger commercial vehicles and construction equipment. It has a nationwide presence through 487 branches and nearly 16,000 employees. It is one of the largest non-banking financial companies in India. Its revenues grew from $310M in 2006 to $1171M in 2010 while net income rose from $42.3M to $256M.

TTK Prestige Ltd.

TTK Prestige (TTK) is India's largest manufacturer and marketer of a comprehensive range of kitchenware. It has a wide range of product categories namely pressure cookers, non-stick cookware, gas stoves etc. TTK enjoys leadership in the pressure cooker market in India. Its products are sold in over 400,000 retail outlets. It also owns a 0.285 million Sq.ft property at a prime location in Bangalore and has announced plans to develop it. Revenues rose from $57M in 2006 to $158M in 2010 while net income rose from $2M to $18M.