1. 3–4 years of price & volume consolidation.
2. Neglected stock/sector for 5+ years.
3. 3 consecutive quarters of revenue & PAT growth.
4. Management optimistic about future growth.
5. Management has delivered at least 75% of past guidance.
6. Industry has a 10+ year growth runway.
7. Risk-reward looks roughly 10:90.
8. Turnaround is already visible.
9. Management has at least a 3-year listed track record.
10. Operating cash flow & free cash flow improving for 3+ quarters.
What would you add, remove, or modify?