Ashish Kacholia Holds 3.17 Per cent Stake: Heavy Buying in Multibagger Defence-Tech Stock Hits Upper Circuit - DIIs Nearly Double Their Stake
It holds a license for manufacturing bulletproof jackets, vests, helmets, also an industrial license for producing bombs, UAVs, gun mountings, missile systems, and grenades.
Ashish Kacholia-backed Small-Cap company, which is in heavy engineering and project execution, boasting a diversified portfolio across key sectors. Specializing in EPC (Engineering, Procurement, and Construction) and turnkey projects, the company excels in hi-tech manufacturing, engineering products, and engineering services. Today the company’s shares have hit the upper circuit with a significant volume.
Today, the shares of Walchandnagar Industries Ltd opened at Rs 253.95 per share, compared to the previous day's closing figure of Rs 248.50 per share on the BSE. Currently, the shares are at Rs 259 per share on the BSE. Additionally, the shares have delivered an impressive return of around 285 per cent in the past 2 years.
Furthermore, this month Walchandnagar Industries Ltd signed a Memorandum of Understanding (MOU) with IIT Ropar to advance targeted R&D and drive innovation and indigenization efforts in the defence and aerospace sectors. This collaboration is focused on fostering a culture of research and innovation in advanced military technologies. The joint initiative aims to support research, development, and indigenization in Armament Technology, aligning with the Government of India’s Atmanirbhar Bharat (Self-Reliant India) vision and the Make in India initiative.
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As per the Quarterly Results, in the September quarter of FY25, Walchandnagar Industries Ltd recorded a revenue of Rs 68 crore. The operating loss for Q2 FY25 stood at Rs 6 crore. The net loss for the period was Rs 11 crore compared to a loss of Rs 8 crore. Looking at the annual performance, the company generated a revenue of Rs 302 crore in FY24, compared to Rs 322 crore in FY23. The operating profit for FY24 was Rs 1 crore, with a net loss of Rs 42 crore.
Regarding the shareholding pattern of Walchandnagar Industries Ltd, the promoters own 31.55 per cent of the company and the public or retail investors hold 67.84 per cent. FIIs and DIIs hold 0.31 per cent and 0.28 per cent which were earlier 0.35 per cent and 0.15 per cent respectively.
Ace investor Ashish Kacholia has been maintaining his 3.17 per cent stake in the company for the last three quarters.
Disclaimer: The article is for informational purposes only and not investment advice.