Mukul Agarwal and Ashish Kacholia need no introduction. They are some of the most widely followed and respected super investors of India. So much so that we have added them to the list of Warren Buffetts of India. With a track record second to none, they are known to have the eye of a hawk looking at its prey from a mountain when it comes to picking stocks.
Ashish Kacholia currently has 48 stocks in his portfolio with a net worth of over Rs 2,711 cr. Mukul Agarwal on the other hand has 60 stocks with the net worth of over Rs 6,149 cr. But what many do not know is that he also holds 7 stocks under his wife Madhulika Agarwal’s name, worth Rs 193 cr.
So, perhaps unknown to many, there are 5 stocks that both Kacholia and Agarwal both hold, which were going to look at today.
BEW Engineering Ltd
Incorporated in 2011, BEW Engineering Ltd designs and manufactures special range of filtration mixing and drying equipment.
With a market cap of Rs 239 cr, the company has a 4.85% stake by Ashish Kacholia from is individual portfolio and 3.42% under Suryavanshi Commotrade Private Limited. Madhulika Agarwal holds another 4.15% stake.
The company sales saw a 18% compound growth from Rs 59 cr in FY20 to Rs 134 cr in FY25. EBITDA (earnings before interest, taxes, depreciation, and amortisation) was Rs 4 cr for FY2o which grew to Rs 20 cr in FY25 logging in a compound growth of 38%. Net profit was Rs 1 cr for FY20 and which grew at a compounded rate of 79% to Rs 12 cr in FY25.
The share price of BEW Engineering on its listing in September 2021 was around Rs 35, and as of the closing of 23rd May 2025, it is at Rs 183, which is over a 423% growth.
The company’s share is trading at a current PE of 20x while industry median is just around 35x. As for the 10- year median PE, Bew Engineering is at 32x while the industry median is 22x.
Shree OSFM E-Mobility Ltd
Incorporated in 2006, Shree OSFM E-Mobility Ltd is in the business of vehicle rentals and offers employee transportation services to large multinational corporations (MNCs) in India.
With a market cap of Rs 162 cr, the company has a 3.63% holding by both, Kacholia and Agarwal.
The company’s latest numbers for FY25 are still not out, but it grew from Rs 29 cr in FY21 to Rs 118 cr in FY24, which is a 59% compound growth. The EBITDA saw a compound growth of 87% from Rs 2cr to Rs 13 cr in the same period. The net profits grew from Rs 1 cr in FY21 to Rs 28cr in FY24, logging in a compound growth of 122% in just 3 years.
The share price of Shree OSFM E-Mobility Ltd was about Rs 72 when it was listed in December 2023, which has grown to Rs 105 as of closing on 23rd May 2025. That is a jump of 46%.
The company’s share is trading at a PE of 20x which is lower than the industry median of 27x. The 10-year median PE for Shree OSFM is 30x, while the industry median for the same period is a just 26x.
Bharat Parenterals Ltd
Incorporated in 1992, Bharat Parenterals Ltd is in the business of manufacturing and marketing of formulations.
With a current market cap of Rs 801 cr, the company has a 1.87% holding by both Kacholia and Agarwal once again.
The company’s sales have grown at a compound rate of just 8% in the last 5 years from Rs 228 cr in FY20 to Rs 340 cr in FY25. The EBITDA however has seen a massive drop from Rs 28 cr in FY20 to Rs 3 cr in FY25. The net profits also come bearing bad news, as the company recorded a loss for the first time, of Rs 44cr in FY25.
The share price of Bharat Parenterals however is Rs 1,162 as of closing on 23rd May 2025, which is over 400% higher than its 5-year-old price of around Rs 230.
The company’s share is currently trading at a negative PE due to the losses. Th industry median is however currently 35x. of 10x, while the industry median is 29x. The 10-Year median PE for Bharat Parenterals is however 11x which is lower than the industry median of 27x for the same period.
Tanfac Industries Ltd
Incorporated in 1972, Tanfac Industries Ltd is amongst the leading producers of Hydrofluoric Acid and its derivatives.
With a market cap of Rs 3,053 cr, the company has a 1.8% stake by Agarwal and another 1.59% by Kacholia. Vanaja Iyer also holds 1% stake I the company.
The company’s sales have grown at a compound rate of just 28% in the last 5 years from Rs 165 cr in FY20 to Rs 557 cr in FY25. The EBITDA logged in a compound jump of about 37% in the same period. The net profits also saw a compound jump of 39% in the same period.
The share price of Tanfac was around Rs 147 in May 2020 and as of closing on 23rd May 2025 it was at Rs 3,061, which is almost a 2,000% jump in 5 years.
The company’s share is trading at a current PE of 35x, and industry median is around 30x. The 10-year median PE for Tanfac Industries is about 14 while the industry median for the same period is 25x.
Universal Autofoundry Ltd
Incorporated in 2009, Universal Autofoundry Ltd is a global manufacturer and exporter specializing in the production of Grey Iron, Ductile Iron, and SG Iron Casting.
With a current market cap of Rs 85 cr, the company has a 3.49% and 3.43% by Ashish Kacholia and Madhulika Agarwal, respectively.
The company’s sales have grown at a compound rate of 17% from Rs 88 cr in FY20 to Rs 193 cr in FY25. The EBITDA grew from Rs 7 cr to 16 cr in the same period, logging in a compound growth of 18%. The company recorded losses of Rs 4 cr in FY20 and a profit of Rs 20 cr in FY25, signalling a turnaround.
The share price of Universal Autofoundry was about Rs 30 five years ago which has grown by 130% to its current price of Rs 69 (as of closing n 23rd May 2025).
The company’s share is trading at a current PE of 36x, and industry median is around 29x. The 10-year median PE for Universal Autofoundry as well as for the industry is 10x.
Follow the Deadly Duo?
The financials of all the five companies we saw today all tell different stories. While Bharat Parenteral recorded their first loss in years, while Universal Autofoundry is showing signs of a revival as it logged in profits for FY25. The share price for Tanfac jumped by 2,000% in the last 5 years while Shree OSFM just saw a 46% jump.
However, one common factor as we already know is that these stocks have managed to keep the Warren Buffetts of India like Ashish Kacholia and Mukul Agarwal interested and invested in them. What these two ace investors see in these stocks is something the average investor may never find out.
So, the question is, should one buy or just watch from the sidelines. Now that is a decision every investor must make for him or herself. But adding these stocks to the watchlist and keeping a close eye on them could not hurt.
Note: We have relied on data from www.Screener.in and www.trendlyne.com throughout this article. Only in cases where the data was not available, have we used an alternate, but widely used and accepted source of information.
The purpose of this article is only to share interesting charts, data points and thought-provoking opinions. It is NOT a recommendation. If you wish to consider an investment, you are strongly advised to consult your advisor. This article is strictly for educative purposes only.
Suhel Khan has been a passionate follower of the markets for over a decade. During this period, He was an integral part of a leading Equity Research organisation based in Mumbai as the Head of Sales & Marketing. Presently, he is spending most of his time dissecting the investments and strategies of the Super Investors of India.
Disclosure: The writer and his dependents do not hold the stocks discussed in this article.
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