Magic Formula Investing Is it really handy

I want to ask does anyone have backtested Magic Formula Investing in indian stock market… Is it really handy for long term investment like 10-15years or even more.
I am virtually investing in it, buying 4-5different stock in every 2month from last 6months. Then after 1 year do the same as written in Book. And I am getting 200%CAGR return till now.
I am not expecting this much return but expecting quite high return like 25%+ CAGR for long term like 10-15years.
Someone please tell if anyone have backtested like this from 5-10years or there is any research available foe this strategy so that I can decide whether I have to invest using magic formula or not.