By Suhel Khan
Dalal Street watches closely when the “Big Whale” stirs, and Ashish Kacholia just made some waves. This renowned investor, known for his knack for spotting future multibaggers, has quietly added 2 new stocks to his portfolio.
Kacholia’s focus on small and mid-sized companies with high-growth potential makes his moves particularly significant, often influencing the decisions of other investors. His “Big Whale” nickname reflects the market’s sensitivity to his activity. These recent buys are especially intriguing given the current market downturn
So, what are these 2 new additions to Kacholia’s portfolio? Let’s take a look.
Aelea Commodities Ltd (ACL)
The first company that has caught the Big Whale’s attention, is Aelea Commodities Ltd, which was incorporated in 2018 and is in the business of trading agri-commodities.
ACL came out with an initial public offer of its equity shares aggregating to Rs. 51 Cr. on July 18, 2024, and got listed on the BSE SME platform.
Ashish Kacholia has bought 3.80% of the company’s shares via his holding company Suryavanshi Commotrade Private Limited, as per the exchange filings made for the quarter ending December 2024.
ACL is primarily focussed on processing cashew nuts. The company specializes in processing RCN (Raw Cashew Nuts) into cashew kernels and engages in trading activities for RCN and other agricultural products like sugar and bagasse.
With a market cap of Rs 408 cr, ACL has clientele that includes companies like Reliance Retail, LRCM Sugars, Kejriwal Sweeteners LLP, MK Traders, etc.
ACL beats most of its peers in comparison when it comes to ROCE (Return on Capital Employed) with the current ROCE of 25% while the industry median is 15%.
ACL’s sales have seen a rather bumpy road in the last few years.
| FY | Mar-21 | Mar-22 | Mar-23 | Mar-24 |
| Sales (In Cr) | 475 | 103 | 109 | 142 |
As compared to the sales figure in FY21, which was Rs 475 cr, the figure of Rs 142 Cr for FY24 is a 70% drop in absolute terms if the two years are compared. However, Between FY22, FY23 and FY24 the company has seen steady growth in sales numbers.
The company reports half yearly financials, and at the end of September 2024, the company had already recorded sales of Rs 88 cr.
The EBITDA (earnings before interest, taxes, depreciation, and amortization) was Rs 20 cr in FY21 which dropped to 18% in FY24.
Net Profits grew modestly from Rs 11 cr to Rs 12 in the same period.
Coming to the share price of ACL, the company was listed in July 2024 at around Rs 173. In January 2025, the share price hit a high of Rs 317 but has been on a downward trend since the. The current price as on 21st February 2025 is Rs 202, which is a 17% jump on its listing price.
As for the valuations, ACL’s shares are currently trading at a price to earnings (PE) of 29x, while the industry median is about 32x.
Talking about growth, ACL is currently operating at 95% of its installed capacity of 40 MTPD (Metric Tonnes Per Day) at its existing unit. ACL plans to enhance capacity with a phased expansion, increasing its total capacity from 40 MTPD to approximately 140 MTPD, which will allow for daily production of 50 MT.
Texel Industries Ltd (TIL)
Texel Industries Ltd, formerly Texel Plastics, incorporated in 1989 is engaged in the business of manufacturing geosynthetic textile products with over 35 years of experience in the industry with many firsts to its credit. The company has proven its capabilities in manufacturing a wide range of Geosynthetic Textile products which includes geomembranes, geotextiles and ground covers among others.
With a market cap of Rs 119 cr, the company has clientele that includes Hindalco, Orchid Pharma, Oil India Ltd, NTPC, Hindustan Zinc etc
Ashish has bought a big 7.86% stake in TIL.
According to TIL’s last annual report, the new applications for the Company’s products have been gaining acceptance gradually and the company is expecting a healthy demand for its products in various segments.
Further the report says that it has been predicted that the supply chains are slowly shifting to other developing countries like India due to China +1 policy of the developed countries. This will create opportunities for TIL in the international markets.
The sales for TIL have seen a decline from Rs 112 cr in FY19 to Rs 95 cr in FY24, which is a drop of 15%.
The EBITDA also fell from Rs 5 cr in FY19 to Rs 2 cr in FY24.
Looking at the net profits, it is also a worrisome picture right now. TIL recorded profits of Rs 2 cr in FY19 and for the FY24, it recorded losses of Rs 9 cr.
Trading in Securities of the Company was suspended by BSE w.e.f 10th September 2001. TIL. received approval for revocation of suspension in trading of equity shares w.e.f. 13th November 2019.
Since then, the share price of TIL has moved from around Rs 2 in February 2020 to its current price of Rs 89 as on 21st February 2025. That is a jump of 4,350%.
TIL’s shares are currently trading at a negative PE and hence not available on screener.in. The industry median is however 24x. The industry median for the last decade is 17x.
Worthy of Your Watchlist?
The Big Whale has done it again. Has Ashish unearthed another couple of hidden winners? Or is it debacle waiting to happen. Aelea’s sales are bouncing back, and they’ve got big plans, which is promising. Texel on the other hand has some worrisome financials as of now. But Kacholia clearly sees something in these stocks.
Aelea’s sales have been a bit up and down, and Texel’s recent financial woes are a red flag. But Kacholia’s been known to be patient, and his picks often pay off in the long run. Will these two follow suit? We’ll have to wait and see. But one thing’s for sure: as the “Big Whale” makes his moves, it’s not just about what he sees—it’s about whether the rest of the market catches on.
Disclaimer:
Note: We have relied on data from www.Screener.in 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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