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As the last financial quarter ended, many keen investors revisited a ritual: a deep dive into the portfolios of India’s very own ‘Warren Buffetts.’ These super investors have earned their title not only for their wealth but for their uncanny ability to pinpoint tomorrow's winners today. With decades of discipline and insight, they’ve honed a talent for spotting opportunities that most of us might overlook.
While the average investor may chase headlines and ride market trends, these 'Warren Buffetts' often make moves that defy the conventional—and more often than not, they pay off. Their portfolio decisions aren’t just monitored for the massive sums involved but for the signals they send about deeper market opportunities on the horizon. Today, we’re looking at five stocks that have secured a place in the portfolios of these seasoned investors.
Ranging from established names to rising stars, these stocks—all with at least a 1% holding—have captured the interest of India’s most astute wealth creators. Here’s why they may be worth a closer look: First on the radar of India’s top super investors is Vijay Kedia’s latest strategic move: a 10.95% stake in TAC Infosec Ltd.
, now valued at 103 crore. With a market cap of 720 crore, TAC Infosec isn’t just a high-growth stock—it’s a company pioneering risk-based cybersecurity solutions through a SaaS model. Recently listed on the NSE in April at 304, the stock has already more than doubled to 687, signalling growing confidence in its future.
Specialising in vulnerability management, cyber risk assessment, and penetration testing, TAC is a key player in the ever-expanding cybersecurity sector. In the Gulf Cooperation Council (GCC) region—particularly the UAE, where cybersecurity growth is projected at a 15.6% CAGR—TAC has big plans to reach $5 million in revenue by 2026.
The sales of the company grew from 4.36 crore in FY20 to 11.62 crore in FY24, which is a compounded growth rate of 27.
76%. The profits after tax (PAT) in the same period grew at a compound rate of 95% from 43 lakh in FY20 to 6.3 crore in FY24.
Ebitda (earnings before interest, taxes, depreciation, and amortization) was 64 lakh in FY20 which grew to 6.53 crore in FY24 which was a CAGR of 78%. The company also has shown good growth in the operating profits margin (OPM), which went from 14.
68% in FY20 to 56.20% in FY24. As for the valuation, the stock is trading at a price to equity ratio (PE) of 114x, while the industry average is 40x.
Mukul Agarwal, a prominent Indian investor, holds a significant 6.48% stake (valued at 108.9 crore) in ASM Technologies Ltd.
The company provides consulting and product development services in engineering and research & development, with a global presence extending to the US, UK, Singapore, Canada, and more. Recently, ASM acquired Semcon Engineering UK Ltd, gaining access to a broader customer base in Europe. While ASM boasts impressive revenue growth, with sales surging from 88 crore in FY19 to 202 crore in FY24 (18% CAGR), it currently faces profitability challenges.
The company's ROCE sits at a negative 0.91%, compared to an industry average of 17.75%.
Despite incurring losses in FY24, ASM's net profit did show improvement from 7 crore in FY19 to 14 crore in FY22. Furthermore, ASM's Ebitda has seen modest growth, increasing from 5 crore in FY19 to 6 crore in FY24 (4% CAGR). Interestingly, the stock price has skyrocketed in the past five years, rising from 36 to 1,440, translating to a staggering 110% CAGR.
However, due to the negative PE ratio, traditional valuation metrics might not fully capture ASM's potential. Nevertheless, the company's 10-year median PE stands at 36x. ASM Ventures, the company's investment arm, has made strategic investments in areas like cybersecurity, wireless technology, and smart manufacturing, suggesting a focus on future growth opportunities.
Renowned investor Rekha Jhunjhunwala has recently acquired a 3.65% stake in Baazar Style Retail, a leading value fashion retailer in Eastern India. The company continues to expand its retail footprint and capitalise on the growing demand for affordable fashion.
Baazar Style Retail operates a network of 162 stores across 146 cities, offering a wide range of apparel and home furnishings. The company's strong focus on value and quality has enabled it to achieve impressive growth, with sales increasing by 23.5% from 788 crore in FY23 to 973 crore in FY24.
The company's profitability has also improved significantly, with a 340% increase in net profit from 5 crore to 22 crore in the same period. Operating profit margin expanded from 13% to 15%. Ebitda grew from 103 crore in FY23 to 143 crore in FY24, which represents a significant increase with nearly 39% growth over the previous financial year.
The company’s shares are trading at a PE of 115x, which is the second highest in peer comparison after Trent’s 210x. The industry average is 51x. After raising 250 crore from anchor investors in August 2024, the company floated its debut IPO with an issue size of 834 crore.
Post which the company was listed on NSE and BSE on 6 September 2024 at a price of 400. However, investors should carefully assess the company's future performance, including its ability to manage costs, maintain profitability, and execute its growth strategy effectively. Renowned investor Dolly Khanna has recently acquired a significant stake in Emkay Global Financial Services, a leading financial services firm.
Emkay Global Financial Services offers a comprehensive range of financial services, including institutional broking, asset management, wealth management, and investment banking. Emkay currently has a ROCE of 17% which is close to the industry median of 19% and the 10-year average is 12.95%.
The highest in the category amongst peers currently is Prudent Corporate Advisory Services Ltd which is 43%. Net profit grew at a compound rate of 32% from 9 crore in FY19 to 32 crore in FY24. Ebitda grew at a CAGR of 19.
5% from 23 crore in FY19 to 56 crore in FY24. The operating profits margin went from 15% to 18% during the same 5-year period. When it comes to the share price, it has grown at a CAGR of 28% from 77 in October 2019 to the current 267.
As the Indian financial market continues to evolve, Emkay Global is well-positioned to capitalise on emerging opportunities and deliver strong returns to its shareholders. The stock trades at a relatively low PE of 10x, below the 10-year median of 13x and the industry average of 16x. Emkay Global Financial Services Ltd’s recent earnings growth may be undervalued if it sustains, giving shareholders optimism for future price gains.
Prominent investor Ramesh Damani has recently acquired a 1.04% stake in Protean eGov Technologies, a leading provider of e-governance solutions. It is a leading PAN service provider in India and has over 45% market share in new PAN card allotments.
Protean eGov has established itself as a key player in India's digital infrastructure, providing services to various government agencies. While the company has witnessed significant growth in recent years, its profitability has been impacted by certain factors. The company's revenue growth has been relatively modest, increasing from 755 crore in FY19 to 882 crore in FY24.
However, its net profit and Ebitda have declined during this period. Net profit declined from 124 crore in FY19 to 97 crore in FY24, representing a 21.8% drop over the five-year period.
The company's Ebitda contracted significantly, dropping from 177 crore to 89 crore between FY19 and FY24. The company's high valuation, with a PE ratio of 85x, is a concern, particularly considering the industry average of 39.73x.
The company’s shares were listed on BSE in November 2023 at a price of 883 which has jumped by 108% to the current 1,856. While Protean eGov has a strong track record and a strategic position in the e-governance sector, investors should carefully evaluate its future growth prospects and potential risks before making investment decisions. Should these stocks be on your radar? When India’s own Warren Buffetts make their moves, the entire investment community feels the impact.
These seasoned investors have proven their mettle time and again, with years, often decades, of successful investing behind them. Naturally, when they buy or sell, there’s a strong urge to uncover the strategy behind their choices, a strategy that’s often elusive to other investors. However, the five stocks highlighted today have piqued the interest of these top-tier investors, making them well worth adding to your watchlist.
Whether you’re observing from the sidelines or jumping aboard, tracking the future of these stocks promises to be an intriguing journey..
