Speaking to CNBC-TV18, Trivedi stated how the shift in buying behaviour is visible even at home. “My boys don’t go to Kirana stores anymore. They’ve grown up ordering everything online,” he remarked, highlighting the growing detachment from physical retail.
He sees this as part of a broader trend driven by the need for instant gratification. “Whether it’s short videos or OTT content, people are getting used to speed — and quick commerce fits right into that culture.”
He noted that this convenience-driven model is steadily eating into the market share of Kirana stores. “Yes, the traditional retailers are already under pressure, and this might escalate before it catches political attention,” he warned.
While quick commerce has a promising future, Trivedi flagged intense competition in the segment — comparing it to the paint industry where large players are aggressively entering the fray. “With so many big companies entering, I’m not sure the unit economics will remain strong,” he added, referring to firms like Swiggy and Zepto.
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On the cement sector, Trivedi was cautious. He described it as a regional business with inconsistent pricing power, especially in South India. “We haven’t taken direct exposure in cement so far, but rather played the theme via construction companies,” he explained.
While the industry may benefit from ongoing consolidation, it still lacks robust earnings growth, he noted.
Turning to the electronics manufacturing services (EMS) space, Trivedi was more upbeat. He pointed to the rapid revenue growth seen in companies like Dixon Technologies as a sign of strong momentum. “This is a sector that still has room to grow.
Valuations are high, but some of the tier-two players are trading at more reasonable levels,” he said, suggesting potential for selective investment.
For full interview, watch accompanying video
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