Within this list, there are nine stocks that have soared by more than 100% in just seven months with newly-listed SME stock Vasa Denticity turning out to be the best performer with a gain of 378%. Some of his largest bets include Safari Industries, Gravita India, Garware Hi-Tech Films and NIIT Learning Systems, shows data pulled from ACE Equity.
It’s important to note that this list specifically includes companies where Kacholia holds a stake exceeding 1%, although it may not cover all of his investments.
The size of his publicly-available portfolio has increased from Rs 1,656.6 crore in March-end to about Rs 3,000 crore now.
Here’s a break-down of the best-performing stocks of Ashish Kacholia’s portfolio:
1) Vasa Denticity
Vasa Denticity, which sells dental products through Dentalkart portal, got listed on NSE SME exchange earlier in June. At the end of the September quarter, Kacholia owned a 3.8% stake in the company. The SME stock is the top gainer with a 378% return in FY24 so far.Ace investor Mukul Agrawal also owns about 2.56% stake in the multibagger.
2) TARC
TARC Ltd, a premium real estate developer in Delhi and NCR region, has Kacholia as one of the top shareholders with 2.22% stake. The multibagger has so far yielded a 245% return in FY24.
3) Garware Hi-Tech Films
Shares of Garware Hi-Tech Films, which manufactures polyester films, are up 177% so far in the fiscal year. Kacholia owns a little over 4% stake in the company.
Garware management expects to post a 20% CAGR to achieve revenue of Rs 2,500 crore in the next 2-3 years, led by strong growth in SCF, PPF and recovery in the IPD division.
“Capacity expansion (SCF), product diversification (PPF), and favourable changes in India automotive regulation for safety glazing film along with strong positioning in export markets act as key catalysts for the company’s growth,” broking firm Sharekhan said.
4) Balu Forge Ind
Balu Forge Industries Ltd is one of the leading manufacturers of finished and semi-finished forged crankshafts and components. Kacholia’s 2.16% stake was valued at Rs 49 crore in the multibagger.
5) Dhabriya Polywood
Jaipur-based Dhabriya Polywood, which manufactures PVC & UPVC products, is an indirect play on the real estate boom in India. The company is expecting revenue growth if 20-25% in FY24.
While Kacholia owns 6.43% stake in the company, Mukul Agrawal also has a 4.68% stake.
6) BEW Engineering
Kacholia owned around 4% stake in SME company BEW Engineering, which is listed on NSE Emerge platform. The stock has more than doubled in FY24.
7) Gravita India
Jaipur-based recycling company Gravita India has ambitious plans to diversify into new business verticals and achieve revenue CAGR of 25%, profitability growth of 35% and ROCE of 25%.
Kacholia’s 2.15% stake was valued at Rs 168 crore in the multibagger. Other big investors in the smallcap include Nomura and Goldman Sachs.
Emkay Global, which has a target price of Rs 1,300 on the stock, has revised its FY25 EPS upwards by 10%, assuming a better margin profile.
8) Safari Industries
Luggage maker Safari has outlined a capex plan of Rs 215 crore that would entail doubling its hard luggage capacity from 6.5 lakh pieces per month to 13 lakh pieces per month. The expansion is expected to complete in the next 12-15 months.
Domestic broking firm Prabhudas Lilladher, which has a target price of Rs 4,752 on the stock, said consistent gain in market share and rising share of indigenous manufacturing is likely to result in sales/PAT CAGR of 24%/31% over FY23-FY26.
Kacholia’s 2.10% stake is worth about Rs 220 crore.
9) Repro India
Book printing company Repro India is the largest print on-demand player in India with capacity of 50,000 books per day. In Q2, the company reported Q2 revenue of Rs 118 crore to report YoY growth of 30%. The stock is a favourite of not just Kacholia who owns 3.23% stake but also that of Madhu Kela (3.33% stake) and Vijay Kedia (6.36% stake).
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