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By:

Shoumojit Banerjee

27 August 2024 at 9:57:52 am

Classroom of Courage

In drought-scarred Maharashtra, a couple’s experiment in democratic schooling is turning child beggars into model citizens In the parched stretches of Maharashtra, from Solapur to the drought-hit villages of Marathwada, a modest social experiment has quietly unfolded for nearly two decades. It is neither a grand government scheme nor a corporate-backed charity. Since 2007, the Ajit Foundation, founded by Mahesh and Vinaya Nimbalkar, has worked with children living at the sharpest edges of...

Classroom of Courage

In drought-scarred Maharashtra, a couple’s experiment in democratic schooling is turning child beggars into model citizens In the parched stretches of Maharashtra, from Solapur to the drought-hit villages of Marathwada, a modest social experiment has quietly unfolded for nearly two decades. It is neither a grand government scheme nor a corporate-backed charity. Since 2007, the Ajit Foundation, founded by Mahesh and Vinaya Nimbalkar, has worked with children living at the sharpest edges of society in Maharashtra. The foundation has become a home for out-of-school children, those who have never enrolled, the children of migrant labourers and single parents, and those who scavenge at garbage dumps or drift between odd jobs. To call their foundation an “NGO” is to miss the point. Vinaya Nimbalkar describes it as a “democratic laboratory”, where education is not merely instruction but an initiation into citizenship. The couple were once government schoolteachers with the Solapur Zilla Parishad, leading stable lives. Yet what they witnessed unsettled them: children who had never held a pencil, begging at traffic signals or sorting refuse for a living. Prompted by this reality, the Nimbalkars resigned their jobs to work full-time for the education of such children. Leap of Faith They began modestly, teaching children in migrant settlements in Solapur and using their own salaries to pay small honorariums to activists. Funds soon ran dry, and volunteers drifted away. Forced out of their home because of their commitment to the cause, they started a one-room school where Vinaya, Mahesh, their infant son Srijan and forty children aged six to fourteen lived together as an unlikely family. The experiment later moved to Barshi in the Solapur district with support from Anandvan. Rural hardship, financial uncertainty and the pandemic repeatedly tested their resolve. At one stage, they assumed educational guardianship of nearly 200 children from families that survived by collecting scrap on the village outskirts. Eventually, the foundation relocated to Talegaon Dabhade near Pune, where it now runs a residential hostel. Twenty-five children currently live and study there. The numbers may seem modest, but the ambition is not. Democracy in Practice What distinguishes the Ajit Foundation is not only who it serves but also how it operates. Within its walls, democracy is practised through a Children’s Gram Panchayat and a miniature Municipal Council elected by the children themselves. Young candidates canvass, hold meetings and present their budgets. Children maintain accounts and share decisions about chores, activities and certain disciplinary matters. In a country where democratic culture is often reduced to voting, the foundation’s approach is quietly radical. It treats children from marginalised backgrounds as citizens in formation. The right to choose — whether to focus on sport, cooking, mathematics or cultural activities — is respected. “We try never to take away what is their own,” says Vinaya Nimbalkar. Rather than forcing every child into a uniform academic mould, individual abilities are encouraged. A boy skilled in daily calculations may not be pushed into hours of bookish study; a girl who excels in cooking may lead the kitchen team. For children who have known only precarity, standing for election, managing a budget or speaking at a meeting can be transformative. On International Women’s Day, the foundation seeks visibility not just for praise but for partnership. If you are inspired by their mission, consider supporting or collaborating—your involvement can help extend opportunities to more children in need.

GRPD Formula for Stock Selection

Updated: Jan 2, 2025

Stock Selection

Earning profits from stocks isn't a game of chance; it’s a tactical endeavor where insight and information serve as your most valuable tools. Historically, equities have emerged as the top asset class, and they are poised to continue outperforming in the future. However, achieving success in the stock market is not easy. Since the lows experienced during Covid, the Indian Stock Market has delivered impressive returns, yet numerous stocks have not fared as well, with some even leading to significant losses over time. Consequently, the question of "What to buy?" becomes the most crucial aspect of equity investing. Let's explore the GRPD Strategy, which can guide us in stock selection.


Growth

We invest in equities to enhance our capital. For this to occur, a company must exhibit growth in both sales and net profits. It is often said that "history tends to repeat itself," implying that companies with a track record of growth are more likely to expand their profits in the future. Thus, we should focus on companies that have achieved a 12% annual growth in sales and net profits over the past decade. Therefore, a 12% CAGR in sales and net profit serves as our primary criterion for stock selection, with consistency in growth being equally vital.


Return on Equity

Return on equity (ROE) is a metric that offers investors insight into how effectively a company is utilizing the capital contributed by shareholders. In essence, ROE evaluates a company’s profitability in relation to shareholder equity. Investors should consider only those stocks that exhibit a 5-year average ROE exceeding 12%.


Price to Earnings Ratio

The price-to-earnings (P/E) ratio assesses a company's share price in relation to its earnings per share (EPS). The P/E ratio aids in determining whether a stock is undervalued or overvalued. Presently, the post-tax return on Government Bonds is around 5%. Thus, we can deduce that a P/E multiple of 20 (100/5) is reasonable. We should seek stocks with a P/E multiple below 20. It’s crucial to verify the P/E ratio only after confirming compliance with the first two criteria.


Debt to Equity

The debt-to-equity (D/E) ratio compares a company’s total liabilities against its shareholder equity, allowing for an assessment of its dependence on debt. A higher D/E ratio indicates greater risk. Many stocks that have resulted in investor losses had high Debt to Equity ratios. Therefore, we should avoid stocks with a Debt to Equity ratio greater than one.

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