What Tata Mutual Fund’s Chandraprakash Padiyar looks for in Small-caps | Ventura Spotlight

Small-caps are exciting, but also risky. So how does a seasoned fund manager navigate this space? In this episode of Ventura Spotlight, we sit down with Chandraprakash Padiyar, Senior Fund Manager – Equity at Tata Mutual Fund, who manages over ₹20,000 crore across small-cap and large & mid-cap funds. With over 24 years of investing experience, Chandraprakash shares: 🔹 Why most investors misunderstand small-cap potential 🔹 His checklist: scalability, corporate governance, capital efficiency 🔹 Why numbers can lie, especially in bull markets 🔹 What excites him in the under-researched price range 🔹 Risks that come from leverage and chasing hype Whether you're a retail investor or just curious about small-cap funds, this is a masterclass in how to think beyond the noise. Watch till the end to learn what Chandraprakash believes is the #1 mistake investors make in small caps. 🔗 Chapters: 00:00 – Intro 01:27 – Career start, UTI Mutual Fund, and entry into equity research 02:26 – Market cycles and early lessons in long-term thinking 05:34 – Research in the small-cap space, market cap categorisation, and analyst team size 10:17 – Evolving market-cap classifications. 13:29 – Is the small-cap space overheated? 14:19 – Early signs: scalability, GDP linkage, long-term growth 16:35 – Identifying 5x–10x potential: management track record, capital allocation, and scalability 18:57 – Risk-first investing, mispricing, conviction 20:09 – R&D-led growth, factory visits vs innovation hubs 21:31 – Importance of ROCE (Return on Capital Employed) and free cash flow 24:38 – Lessons from 2006–08: leverage traps and permanent capital loss 26:11 – What qualifies as a reasonably good ROCE? 27:40 – How bull markets hide red flags: inflated numbers and fast decision-making 28:58 – Defence sector example, operating leverage, margin unsustainability 32:59 – Avoiding high-leverage financials, MSME lending caution 35:55 – Chandraprakash’s personal unwind routine: Family time, Twitter 37:10 – Rapid fire ================================================================================ 📌 Watch the full playlist -    • Ventura Spotlight   Check out our other playlists-    • Stock Talk With BKG      • How to Videos      • Bazaar Basics (Hindi)   ================================================================================ 📌 Stay updated daily - 👉 WhatsApp Channel: https://tinyurl.com/475k7ced 👉 Telegram Channel: https://t.me/VenturaUpdates ================================================================================ Trade at ₹9 per order & get 55% off* on standard pricing for life. Open an account now - https://tinyurl.com/y69wv55e 📲 Download the Ventura App - App store: https://tinyurl.com/34jdnv9j Playstore: https://tinyurl.com/yzcm2xm9 ================================================================================ 👥FOLLOW US for more updates - Website | https://www.venturasecurities.com Instagram |   / venturaupdates   Facebook |   / venturasecurities   Twitter |   / venturaupdates   LinkedIn |   / ventura-securities-ltd   ================================================================================ 📃 Disclosures & Disclaimer: https://tinyurl.com/disclosurendiscla... #StockMarketIndia #TataMutualFund #VenturaSpotlight Trademark Disclaimer: All trademarks, logos, brand names, and company names featured in this video are the property of their respective owners. They are used strictly for identification, informational, educational, commentary, and news reporting purposes only. Their use does not imply any affiliation, endorsement, sponsorship, or association with Ventura Securities Ltd.