Ashish Kacholia adds this small-cap petrochemical stock to his portfolio; the company has a 25 per cent market share in domestic bitumen market
Bitumen is used as a raw material in about 90-95 per cent of the Indian roads.
Ashish Kacholia is among the top investors in India. He publicly holds total 40 stocks and has equity portfolio size of Rs 1833.6 crore.
According to latest September quarter filings, he bought new position in Agarwal Industrial Corporation Ltd. He purchased 3721,28 equity shares of Agarwal Industrial Corporation Ltd, worth Rs 25.3 crore. With this purchase, Kacholia now owns 2.6 per cent stake of the company.
Agarwal Industrial Corporation Ltd is the largest player in the private sector with over 25 per cent market share in domestic bitumen & bituminous products. It is an integrated petrochemical company focussed on Bitumen. Bitumen is used in around 90-95 per cent of Indian roads. The company also acts as an infra-ancillary for the transport and logistics segment.
About the shareholding pattern, the promoters own 62.15 per cent ownership in the company, non-institutional investors hold 34.28 per cent and the remaining 3.57 per cent is by FIIs. There are no promoter-pledged shares.
The company has market capitalisation of Rs 512 crore and is trading at a PE multiple of 16.15x. The stock has 52-week high and low at Rs 745.9 and Rs 311, respectively.
In last twelve months, the stock has given multibagger returns to its investors. The stock jumped by 113 per cent from Rs 319.6 on 28 October 2021 to Rs 680.65 on 28 October 2022.