Dolly Khanna Current Portfolio (Updated December 2020)

Dolly Khanna’s Current Portfolio

Dolly Khanna and her husband Rajiv Khanna are a few of the largest individual investors in the Indian stock market.

In this article, we will find out what has worked out for this investor couple using their portfolio. They have made a fortune from investing.

The portfolio details are updated on 1st December 2020. This is the latest holdings report.

This portfolio includes stocks bought and sold in September 2020 as well.

We are seeing, Dolly Khanna has sold the majority of her holdings in NOCIL and Rain Ind (Rain Commodities earlier), Maybe she wanted to take some profit from the table.

Check the Books on trading

I don’t understand what is the reason, that she sold so much of her holdings.

Dolly Khanna Portfolio:

Stocks in which Dolly Khanna has reduced her stake:

1. Manappuram Finance Ltd
2. Tata Metaliks Ltd
3. RSWM Ltd
4. Sterling Tools Ltd
5. Srikalahasthi Pipes Ltd

Stocks in which Dolly Khanna has increased her stake:

1. Rain Industries Ltd
2. IFB Agro Industries Ltd
3. NOCIL Ltd
4. Muthoot Capital Ltd
5. Ruchira Papers Ltd
6. Radico Khaitan Ltd
7. Selan Exploration Technology Ltd

Stocks in which Dolly Khanna has holding below 1%:

1. PPAP Automotives Ltd
2. Thirumalai Chemicals Ltd
3. Associated Alcohols Ltd
4. Som Distilleries Ltd
5. Asian Granito Ltd
6. LT Foods Ltd

Dolly Khanna Net Worth

Dolly Khanna’s net worth currently is at Rs.~618 crore as of 27th November 2020. This net worth is calculated using the shares in which her holding is more than 1%.

If the shares in which her holding is less than 1% are also included, then her net worth should be more than Rs. 957 crore.

Discussions on stocks in portfolio (high-conviction picks)

1. Shreyans Industries:

Shreyans Industries was promoted by the Oswal family, Ludhiana. It all started by getting second-hand paper making machine from Belgium.

The paper unit of the company was upgraded and expanded to the modern one. Current production capacity is about 70-tpd. The company also diversified into cotton spinning unit. The present installed capacity is 25,000 spindles, therefore it has become export house in cotton.

2. Rain Industries:

Rain Industries Limited, one of the leading producers of calcined petroleum coke, coal tar pitch, and other high-quality advanced materials. It was incorporated on 15th March 1974.

RIL is engaged in the manufacture and sale of Cement (under the brand ‘Priya Cement’) and Calcined Petroleum Coke (CPC) along with the generation of Electricity.

At present, the company owns and operates 3 cement plants with a combined capacity of 4.0mn mtpa, 7 CPC plants with a capacity of 2.8mn mtpa. 4 Coal Tar Pitch (CTP) plants across 4 different countries. It has a number of impressive expansion plans on the anvil.

3. Tata Metaliks Ltd

Tata Metaliks Ltd has seen a 360-degree transformation of its business from a pure commodity company to a niche player with value-added production of DI pipes.

DI segment is growing with a CAGR of more than 15%, therefore giving good returns.

Tata Metaliks Ltd has sail through its past mistakes of expanding its pig iron business geographically and burning its hands in the last fall.

The company has since evolved and invested in:

1. Shutting down its unviable pig iron unit (Redi plant) on the Goa-Maharashtra border.
2. Forward integration into value-added DI pipes and rapidly increasing its production to stay profitable in both ventures.
3. Generating free cash flows to keep the debt in checked.
4. Investing in operating efficiency projects continue to drive significant cost savings.
5. Maintaining positive cash flow and also growing earnings over the last few years, as a result its net worth became positive from negative.

In last 4 -5 years the company has taken serious measures that has resulted in turn around story.

Why Dolly Khanna invested in Rain Industries Ltd?

Rain industries is one of the largest produces calcined petroleum coke in the world. It is a vertically integrated conglomerate with a strategic presence across the globe. It is the largest coal tar distiller in the world, it is also one of the leading producers of cement in South India.

Manageable Debt Levels:

Total debt of the company in the last 5 years has more or less remained constant, which means that operations are running efficiently.

The interest rate on the debt is 6%, which is on the lower side. If the cost of capital is 10%, therefore, even this kind of debt on the balance sheet still fine.

I think Rain Industries Ltd does not have a very strong moat. However, the company is generating healthy CFO and investing regularly in their business.

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