Ashish Kacholia
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Ashish Kacholia    
12 Jun 2019
Ashish Kacholia quizzes Mold Tek on growth, new customers

In the company's latest earnings call, superstar investor Ashish Kacholia, who holds 3.42% stake in packaging firm Mold Tek Packaging, had some questions around the expected volume and value growth for the company. 

Kacholia wanted to know the tonnage growth Mold Tek was expecting in the current financial year. MD Laxman Rao said that Mold Tek is expecting anywhere between 15% and 20% in tonnage volume growth. Value growth would be higher because raw material prices are on the upward trend. Last year the raw material average was Rs 87 while this year ending 2019 March it was Rs 94.6.

"The price in May stood at around 95 but if the prices went up in the next few months then the number might be better more than 20% to topline growth", Rao said. Volume growth alone last year was 8.7% and Mold Tek anticipates that volume growth should be in the region of 15% to 20% in this current financial year.

Laxman Rao added that they are anticipating similar volume growth trend for the next three years in the region of 15% to 20%. One reason is that the Asian Paint plants would pickup volumes in the next financial year and edible oil packaging was doing pretty good numbers with volumes here also rising. Last full financial year, Laxman Rao noted, Mold Tek did Rs 22 Crores in edible oil packaging, and including ghee Rs 24 Crores. Comparably in the first two months of the new financial year Mold Tek has completed more than 8 Crores turnover in this category. The company is hoping that they may hit Rs 50 to 55 crores topline in edible oil from Rs 22 croreslast year, which should rise to Rs 90 to 100 crores in the financial year 2021.

In essence, Mold Tek told Kacholia that it is expecting around 20% CAGR for next three years. That also means the company is postponing new technology investments because "our hands are full". Mold Tek mentioned that it is in talks with Swiggy and Zomato for tamper proof containers for them - they are conducting some trials and carrying out sampling. Mold Tek said it is hopeful of winning these contracts but did not as yet say they are firm commitments. The firm sees EBIDTA rising on its upper end of estimates to 34.5.

Ashish Kacholia    
15 Apr 2019
Ashish Kacholia ups stake in Majesco, Pabrai in Kolte Patil

Superstar investor Ashish Kacholia has upped his stake in IT firm Majesco and telecom firm GTPL Hathway. Kacholia's stake in Majesco has risen by 0.52% to 2.35% this quarter, worth approximately Rs. 32 crore. While Majesco has a good durability score (financial quality), the company's share price has been highly volatile the past three months, with plenty of ups and downs. GTPL Hathway has taken a share price hit over the past six months. 

Investor Mohnish Pabrai has increased his stake in estate firm Kolte Patil Developers, by 0.28%, bringing the total to 6.55%, worth over Rs. 126 crore. Real estate stocks are typically more volatile, and Kolte Patil has been no exception, with its SMA200 on a downward trendline. 

Ashish Kacholia    
09 Apr 2019
Ashish Kacholia ups stake in DFM Foods, Dolly Khanna cuts in Rain Industries

Superstar investors are making some changes to their portfolio in the most recent quarter. Ashish Kacholia (whose portfolio is worth approx Rs. 730 crore) has raised his stake in packaged foods company DFM Foods to 1.89%, an increase of 0.8%. His stake is now worth approximately Rs. 21.8 crore. Kacholia has also increased his stake in GTPL Hathway. Meanwhile, investor Dolly Khanna has cut stake in old favorite Rain Industries, reducing it by 0.44% to 2.2%. 

Ashish Kacholia    
29 Jan 2019
Kacholia exits from multiple stocks, bets on IFB Industries

Superstar investor Ashish Kacholia has done a deep clean of his portfolio, exiting multiple stocks in the December quarter. Stocks where his holding has fallen below 1% for the first time include Butterfly Gandhimathi,  DFM Foods, NIIT Limited, Shreyas Shipping, Khadim India, and the rather inexplicable investment in Marshall Machines. Kacholia's investment in KEI Industries has fallen by 0.91% to 1.84%. 

Besides additions to V2 Retail, where Kacholia's stake has increased by 1.23% to 2.56% Kacholia has also newly invested in IFB Industries

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Ashish Kacholia    
10 Jan 2019
Investor Ashish Kacholia ups stake in KPIT Tech, one more company; sells in Marshall Machines

Superstar investor Ashish Kacholia has been making some changes to his portfolio, as indicated in his December filings so far. He has upped his stake in KPIT Technologies and V2 Retail to 2.13% and 2.56% respectively (an increase of 0.18% and 1.23% respectively). V2 Retail has struggled in share price over the past year, but has seen some price recovery in the past 30 days. KPIT Tech has seen marginal share price growth in the past year.   

Kacholia's stake in  the smallcap Marshall Machines on the other hand, has fallen below 1%. 

Ashish Kacholia    
10 Oct 2018
Porinju Veliyath, Ashish Kacholia among investors making portfolio changes this September quarter

Portfolios of multiple superstar investors have been updated today, based on information released to the exchanges.  Investor  Ashish Kacholia  has sold 0.43 % of his stake in KEI Industries Ltd. (he now holds 2.75 %). Kacholia has held shares in this electric cable manufacturer at least since March 2017. Kacholia has also cut his stake below 1% now in Vadilal Industries. (Vadilal is out of favour with a second large investor below as well. The stock lost over 50% in the past one year). 

Another portfolio change came from Porinju V Veliyath, whose company Equity Intelligence has cut its holding in Archies Ltd.  to below 1%. He had held 2.46% of the stock in the June quarter. But Archies has been a millstone in Porinju's portfolio, declining by over 16% in the past one year. 

Other superstar investors that had portfolio changes as of today, are below. (Subscribers can set a daily superstar alert to get this info in their email). 

Master Capital Services Ltd  bought 2.74 % of  Tejas Networks Ltd. ( now holds 8.09 % ) 

Subramanian P  above 1% now of  Space Incubatrics Technologies Ltd. ( now holds 1.27 % ) 

Ajay Upadhyaya above 1% now of  Genus Power Infrastructures Ltd. ( now holds 1.44 % ) 

Raj Kumar Lohia  bought 0.02 % of  Nikhil Adhesives Ltd. ( now holds 1.55 % ) 

Abu Dhabi Investment Authority sold 0.01 % of  Tejas Networks Ltd. ( now holds 2.04 % ) 

East Bridge Capital Master Fund Limited  bought 2.74 % of  Tejas Networks Ltd. ( now holds 8.09 % ) 

Dheeraj Kumar Lohia  bought 0.02 % of  Nikhil Adhesives Ltd. ( now holds 1.55 % ) 

Hardik Bharat Patel  below 1% now in  Zenotech Laboratories Ltd. 

Sanjiv Dhireshbhai Shah  below 1% now in  Vadilal Enterprises Ltd. 

Ashish Kacholia    
04 Sep 2018
Business Standard
Hikal hit a 52-week high of Rs 192, up 4% on Tuesday, extending its previous day's 15% surged on the National Stock Exchange.
Ashish Kacholia    
07 Aug 2018
The King of Smallcaps, Ashish Kacholia, continues to thrive

By Suhani Adilabadkar

Investors upset over the mid and small cap performance in 2018  should take a leaf out of Ashish Kacholia’s stock market journey.. Kacholia, fondly called the ‘Big Whale’ by media, started out with Prime Securities and later joined Edelweiss before incorporating his own broking firm, Lucky Securities in 1995. He co-founded Hungama Digital with Rakesh Jhunjhunwala in 1999 and started building his own prized portfolio from the year 2003.

Reticent, media shy and someone who neither justifies nor glorifies his stock market picks, Kacholia is a rare combination of diligence, sharp business acumen and a large dab of humility. His portfolio is valued at more than Rs. 900 crore as on June 2018 and is mostly focused on manufacturing, chemicals, packaging, pipes, power and dairy.

Shaily Engineering, Vadilal Industries,Pokarna,CHD Developers,Vishnu Chemicals, Acrysil and Nocil constitute the major chunk of Kacholia’a portfolio. He has more than 4% shareholding in all these companies. CHD Developers is a new entrant in this prized portfolio, invested since January 2018. Acrysil is the oldest in in the list, invested since December 2015. Shaily Engineering, Vishnu Chemicals, Mirc Electronics, Poly Medicure, GHCL, Ester Industries have also undergone additions in the Jan-June period.

 

Apart from the big jewels, small gems like KEI, Mold-Tek Pakaging,NIIT, Poly Medicure,KPIT,Parag Milk Foods are the next big holdings in his portfolio. The moment, Ashish Kacholia invests in a company, its stock price zooms as  retail investors follow the ‘Big whale’. Last year, Lumax industries jumped 8% after the announcement of Ashish Kacholia buying 0.67% while Bodal Chemicals zoomed 12% after BSE bulk deal data revealed 1.10% bought by him.

A Simple Growth Strategy

There is nothing complicated when it comes to Kacholia's choice of stocks. As investments, they look like smart picks, but reaching them is more difficult. A find like Acrysil or Pokarna suggest a lot of research and attention to the small details in financial statements. Kacholia looks for undervalued mid & small cap stocks that are beginning to exhibit a turnaround, or are at an inflexion point with strong future growth prospects. He does not follow hard core mathematical models but has a hawk’s eye unearthing gems like Vadilal Industries, Mirc Electronics and Vaibhav Global

Vadilal Industries was at inflexion point in 2016 and its yearly PAT witnessed seven fold growth in March. Kacholia invested at the right time around March 2016 and the company has since been a consistent performer. Similarly Kacholia bought about a large number of shares during the last six months of Mirc Electronics, which turned around in 2018 after years of negative growth. On the same lines, after 60% decline in net profit, Vaibhav global recovered in March 2017 with PAT rising 1.6 times and Kacholia invested in December 2017.

Aptech stake sale in July raised eyebrows as the company is expected to double its franchisee centers and report double digits in coming quarters. However, the company’s June quarter PAT was down 50% on a sequential basis and the share price is down 25% from its February high point, Rs. 332.

Kacholia's portfolio movement ascertains the reality of him being an aggressive value investor who doesn’t shy away from risks or reduction of stocks when appropriate. His portfolio has no heavy weights or Sensex shakers, just small and mid caps like Mirc which has given around 100% returns. Where most investors follow big brokerage houses and invest in stocks rated and followed by reputed research teams, Ashish Kacholia does his own homework. During the past 6 months, while most of the market was drowned in midand small cap mayhem, Kacholia was busy shopping. 

His portfolio boosts strong consistent performers like GHCL, KPIT technologies, Nocil, KEI , Poly Medicure, Acrysil, Shaily engineering and APL Apollo tyres giving positive returns over the past few years. His new additions are CHD Developers, Khadim, V2 Retail, Butterfly Gandhimathi Appliances, NIIT whereas Pokrana, APL Apollo Tubes, Time Technoplast and Aptech stakes have been cut over the last six months.

Kacholia's magic recipe for multibaggers

While Indian mid and small caps have gone through chaos over the past six months, global markets have been witnessinga recovery signalling an economic resurgence. Investors however often invest with respect to market momentum irrespective of core company fundamentals.  Thus decline in this segment was just a part of the long awaited market correction. Ashish Kacholia has demonstrated the right recipe for retail investors: look for core growth and stay invested, and despite volatility you will get your alpha.

Ashish Kacholia    
19 Jun 2018
Ashish Kacholia sells some of his stake in Pokarna

Ashish Kacholia has sold 3.6 lakh shares in Pokarna, the granite company, via two bulk deals. This amounts to 15.6% of the shares he owns in the company. The smallcap firm had been a multibagger over the last twelve months, but has lost in share price as markets turned choppy, falling by approximately 10% in the last three months and showing bearish signals.  

Ashish Kacholia has had Pokarna in his portfolio since December 2015, and as of the most recent quarter, held over 22.74 lakh shares (7.3% stake) in the company.  

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Ashish Kacholia    
27 Apr 2018
Superstar investor Ashish Kacholia raises bets across a range of stocks

Superstar investor Ashish Kacholia, known for smart, well-timed picks, has made some changes to his investment portfolio in the most recent quarter. He has invested in realty company CHD Developers, buying a 5.64% stake worth over Rs. 12.7 crore. Kacholia has also invested in Mirc Electronics with a 3.5% stake (Rs. 39.12 crore). 

Kacholia has also raised his investments in key stocks, including Butterfly Gandhimathi, Poly Medicure, Ester Industries and Vishnu Chemicals. Buttefly Gandhimathi and Shaily Engineering in particular have turned out to be multibaggers for the investor over the last twelve months. For his full portfolio, click here

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