Ashish Kacholia, known for his investments in small and medium-cap companies, has sold a part of his holding in an agrochemicals company.
Ashish Kacholia pares stake in Best Agrolife
Kacholia’s net worth grew by 8.8% QoQ in Q3FY24 to Rs 2,764.2 crore (this will change as holding updates come in). According to new updates, Kacholia sold a 0.9% stake in agrochemicals company Best Agrolife during the quarter. He now holds a 1.4% stake.
Kacholia first added the stock to his portfolio in Q2FY23, acquiring a 1.5% stake. He later increased it by 0.8% in Q3FY23. He has maintained this 2.3% stake in Best until this fresh sale in Q3FY24.
Since adding Best Agrolife to his portfolio, and until the end of December 2023, the stock has seen only a marginal decline of 0.1%. However, in the past year, the company significantly underperformed the agrochemicals industry, with its price falling by 42.9%, while the industry’s price rose by 2.9%. Despite this decline, the stock price has grown by almost 73x over the past five years.
In Q2FY24, the company’s net profit decreased by 26.9% YoY to Rs 94.9 crore, despite a 15.3% YoY increase in revenue to Rs 808.4 crore, largely due to a rise in raw material costs.
Best Agrolife has a medium rank in Trendlyne’s checklist, scoring 34.8%. The small-cap company also has a medium financial strength with a Durability score of 40 and has an expensive valuation, scoring 22. Its PE ratio stands at 85.8, which is higher compared to the industry average of 38.4.
During Q3FY24, Vijay Kedia's net worth increased by 6.3% QoQ to Rs 1,475.6 crore. He has sold a 0.2% stake in Talbros Automotive Components and now holds 1% of the auto parts manufacturer. He has also cut his stake in Elecon Engineering to 1.5%. Kedia first invested in Talbros Automotive in Q3FY22 and in Elecon Engineering in Q1FY22. Talbros has risen by 415.8% since his initial investment and until the end of Q3FY24. Meanwhile, Elecon has risen 14x since the purchase. In the past year, Talbros Automotive outperformed the auto components industry by 127.4% points, and Elecon Engineering outpaced the industrial machinery industry by 74.1% points.
Dolly Khanna’s net worth increased by 17.5% QoQ to Rs 422.86 crore. She also pared her stake in Talbros Automotive by 0.2% and now holds 1.3% of the company.
