Ace investor Ashish Kacholia sells part stake in SJS Enterprises for Rs 12 crore

Marquee investor Ashish Kacholia sold part of his stake in aesthetic solutions provider SJS Enterprises for Rs 11.6 crore through the open market on Friday.

Kacholia sold 1,80,489 shares of the company, or 0.6% stake, at Rs 640.01 apiece, bulk deals data on the National Stock Exchange showed. He sold the shares at a premium of around 1% to Thursday’s closing price of the stock.

On Friday, shares of SJS Enterprises ended around 1% higher on the NSE at Rs 639.65. As of June-end, Kacholia held a 4.34% stake in the company, which made its debut on the bourses in November 2021.

So far in 2023, shares of the company have given nearly 30% returns to investors. The stock hit an all-time high of Rs 677.95 on August 1.

The company manufactures a wide range of aesthetics products catering to two-wheelers, passenger vehicles, commercial vehicles, consumer durables/appliances, medical devices, farm equipment and sanitary ware industries.

For the quarter ended June, the company reported a 14% year-on-year growth in consolidated revenue to Rs 117 crore, and 11% increase in net profit to Rs 18 crore.

Apart from Kacholia, the company counts a few leading domestic mutual funds and global funds among its top investors.

Mutual funds cumulatively held 9.15% stake in the company as of June-end, and the key holders are Aditya Birla Sun Life, Franklin Templeton, and Axis Mutual Fund. However, the cumulative holding of MFs was down from 9.92% as of March-end.

Foreign portfolio investors held 5.2% stake in SJS Enterprises, with Goldman Sachs owning a 3.5% stake. The cumulative FPI holding too, reduced from 5.6% in the March quarter.

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