Vijay Kedia sticks with Repro India, Mahindra Holidays after steep drops

Vijay Kedia is a famous Indian investor who likes to pick small companies and hold onto them for a very long time.

He calls his method SMILE, which means he wants small companies with big dreams and huge market potential.

Right now two of his stocks are not doing well, and their prices have fallen a lot from their highest points ever.

One company, Repro India, prints books.

It reported its biggest profit ever, but that money mostly came from selling land, not from printing books.

The other company, Mahindra Holidays, sells holiday memberships that last 25 years.

It reported a loss even though it earned record revenue, because it is building many new resorts and those costs are very high.

The loss does not mean the business is failing; it means the company is spending a lot on new buildings.

Kedia did not sell either stock, so he still believes in them for the long run.

Other investors are split, with foreigners selling and many regular people buying.

The article says both stocks hide the real story below their headlines, and we will learn more in the next few quarters.