September 15, 2025
Ashish Kacholia portfolio
Ashish Kacholia and Utpal Sheth are both now investors in a small-cap known as 'Raghav Productivity Enhancers'. It is the only organized player in its industry & appears to be a monopoly. We have to keep an eye on the stock and apprise ourselves of its future prospects
Ashish Kacholia and Utpal Sheth are both now investors in a small-cap known as ‘Raghav Productivity Enhancers’. It is the only organized player in its industry & appears to be a monopoly. We have to keep an eye on the stock and apprise ourselves of its future prospects

What is Raghav Productivity Enhancers?

Raghav Productivity Enhancers Ltd is a small-cap stock with a market capitalisation of Rs 1038 crore. It is the world’s largest manufacturer of Silica Ramming Mass. It offers customized lining solutions for secondary steel producers and foundries, enabling non-linear productivity growth and massive reduction in power & overhead costs for its clients. As it is the only organized player in this industry, its products are significantly expensive than the market, However, They reduce costs of clients by at-least 5 times the cost of its product, effectively making its products not just free but massively profitable for its clients.

The Company is listed only on the BSE and has been placed under the ‘ASM ST : Stage 1’ (Advanced Surveillance Mechanism), which means that there are restrictions on the purchase and sale of the stock and on the price movement.

The promoters hold 69.61% while the public holds 21.49%. There are no Mutual Funds holding the stock.

The fundamentals of the stock are as follows:

Raghav Productivity Enhancers Ltd – Key Fundamentals

Parameter Values
Market Cap (Rs cr) 1,038
EPS – TTM (Rs) [*S] 20.07
P/E Ratio (X) [*S] 47.53
Face Value (Rs) 10
Latest Dividend (%) 5.00
Latest Dividend Date 15 Jul 2022
Dividend Yield (%) 0.10
Book Value / Share (Rs) [*S] 111.09
P/B Ratio (Rs) [*S] 8.59

[*C] Consolidated     [*S] Standalone   

Raghav Productivity Enhancers Ltd – Financial Results

Particulars (Rs cr) Sep 2022 Sep 2021 % Chg
Net Sales 35.88 23.88 50.25
Other Income 0.11 0.76 -85.53
Total Income 35.98 24.64 46.02
Total Expenses 27.07 18.2 48.74
Operating Profit 8.92 6.44 38.51
Net Profit 6.17 4.35 41.84
Equity Capital 10.88 10.88

(Source: Business Standard)

Ashish Kacholia, Utpal Sheth portfolio holdings

Ashish Kacholia bought 231683 shares at Rs 842 each from the promoter

Utpal Sheth has been steadily buying the stock of Raghav Productivity Enhancers. He bought a tranche of 164063 shares on 29th Sept 2020 at Rs 100.7. He added 86000 shares on 12th Oct at Rs. 148.98. He presently holds 394711 shares comprising 3.63% of the equity capital.

Ashish Kacholia bought 231683 shares of Raghav Productivity Enhancers on 4th November 2022 at Rs 842 per share in a bulk deal. The seller was Sanjay Kabra, one of the promoters.

Ashish Kacholia, Utpal Sheth portfolio

Ashish Kacholia’s portfolio holdings is now worth Rs 1920 crore

The other shares held by Ashish Kacholia is as follows. The portfolio is worth Rs 1920 crore.

Stock Value (Rs Cr) Nos of shares held
Safari Industries (India) Ltd 111.2 614,288
Shaily Engineering Plastics Ltd. 110.0 599,696
Fineotex Chemical Ltd. 99.3 2,924,072
PCBL Ltd. 91.2 7,056,173
NIIT Ltd. 88.2 3,000,000
Rainbow Childrens Medicare Ltd. 84.4 1,044,211
Ami Organics Ltd. 76.2 776,474
La Opala RG Ltd. 72.6 1,767,433
Vaibhav Global Ltd. 69.2 2,000,000
Hindware Home Innovation Ltd. 66.0 1,926,788
Garware Hi-Tech Films Ltd. 65.3 924,577
Barbeque-Nation Hospitality Ltd. 62.7 557,510
Xpro India Ltd. 58.1 779,350
Aysil Ltd. 55.7 1,000,000
Best Agrolife Ltd. 54.4 345,392
Gateway Distriparks Ltd. 53.8 1,917,606
Arvind Fashions Ltd. 53.5 1,456,054
SJS Enterprises Ltd. 53.0 1,169,839
Gravita India Ltd. 49.5 1,351,649
Yasho Industries Ltd. 48.5 296,322
IOL Chemicals and Pharmaceuticals Ltd. 42.6 1,153,566
Faze Three Ltd. 41.7 1,238,708
Beta Drugs Ltd. 40.4 550,000
Ador Welding Ltd. 39.0 437,700
Stove Kraft Ltd. 35.3 576,916
Shankara Building Products Ltd. 32.9 451,140
Genesys International Corporation Ltd. 32.1 618,734
D-Link (India) Ltd. 31.5 1,186,350
Agarwal Industrial Corporation Ltd. 25.5 372,128
TARC Ltd. 24.0 5,477,157
Bharat Bijlee Ltd. 22.4 101,350
Repro India Ltd. 20.5 457,962
Inflame Appliances Ltd. 18.0 308,000
Sastasundar Ventures Ltd. 17.9 598,902
United Drilling Tools Ltd. 17.5 570,817
eative Newtech Ltd. 16.8 340,101
ADF Foods Ltd. 16.2 227,605
HLE Glasscoat Ltd. 13.3 191,602
Moongipa Securities Ltd. 5.8 301,000
Megastar Foods Ltd. 3.0 103,666
CHD Developers Ltd. 0.43 6,361,166
Total 1919.63
Stocks earlier held in the portfolio by Ashish Kacholia
Mastek Ltd.
Mold-Tek Packaging Ltd.
Vishnu Chemicals Ltd.
VRL Logistics Ltd.
Kwality Pharmaceuticals Ltd.
Astec Lifesciences Ltd.
Caplin Point Laboratories Ltd.
Igarashi Motors India Ltd.
Birlasoft Ltd.
Marksans Pharma Ltd.
Neuland Laboratories Ltd.
Poly Medicure Ltd.
Religare Enterprises Ltd.
Venus Remedies Ltd.
Aurum Proptech Ltd.
DFM Foods Ltd.
Apollo Pipes Ltd.
Paushak Ltd.
Apollo TriCoat Tubes Ltd.
Mahindra Logistics Ltd.

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