Latest news with #AshishKacholia
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Business Standard
2 days ago
- Business
- Business Standard
Ashish Kacholia to buy additional shares in smallcap stock; up 51% in 1 mth
Man Industries share price today: Shares of Man Industries (India) rallied 12 per cent to hit an eight-month high of ₹405.35 on the BSE in Monday's intra-day trade. This comes after the company's board approved fundraising of up to ₹300 crore through the issuance of convertible warrants to the promoter group and equity shares to a non-promoter group, through a preferential issue. The stock price of a small-cap iron & steel company is trading at its highest level since September 2024. In the past month, it has outperformed the market by surging 51 per cent, as compared to a 1 per cent rise in the BSE Sensex. Ashish Kacholia's, Vikas Khemani's stake in Man Industries Investors Ashish Kacholia (2.03 per cent) and Vikas Vijaykumar Khemani (2.44 per cent), collectively held a 4.47 per cent stake in Man Industries as on May 28, 2025, the shareholding pattern data showed. Conversion of warrants by promoter The Allotment Committee of the board of directors of the Company at its meeting held on May 28, 2025, has inter alia considered and approved the allotment of 2.5 million equity shares of face value ₹5 each, upon exercise of the conversion option by Man Finance Private Limited, a Promoter Group entity, in respect of 2.5 million warrants allotted to them by the Board of Directors on December 1, 2023. Board approves ₹300 crore fundraise The board of directors of Man Industries at its meeting held on Saturday, May 31, 2025, inter alia, considered and approved the raising of funds through the issuance of convertible warrants to the promoter group and equity shares to non promoter group, through preferential issue, to raise an amount up to ₹ 300 crore. The board approved issue, offer and allot up to 7.93 million equity shares of face value ₹5 each for cash at a price of ₹328 per equity share for an amount up to ₹260 crore to the non-promoters, on a preferential basis, subject to the approval of shareholders of the company. Man Industries Q4 results Man Industries on May 12, 2025, said that the company delivered its highest-ever revenue, earnings before interest, taxes, depreciation and amortisation (Ebitda), and profit after tax (PAT) on both quarterly and annual bases. The company posted a 45 per cent year-on-year (Y-o-Y) growth in PAT in the financial year 2024-25 (FY25), reflecting robust operational efficiency and the successful execution of strategic initiatives across key domestic and international markets. In the January to March 2025 quarter (Q4FY25), Man Industries' consolidated PAT more than doubled to ₹40.3 crore, against ₹17.2 crore in Q4FY24. Ebitda grew 56.6 per cent YoY at ₹101.60, and margins improved 330 bps to 11.4 per cent. Revenue from operations climbed 9.3 per cent YoY to ₹850.4 crore from ₹778.10 crore in the year-ago quarter. The management said the company's growth momentum is driven by strategic initiatives aimed at expanding capacity, diversifying revenue streams, strengthening market presence, and sharpening its focus on core business operations. Order Book As of FY25-end, the company holds an executable order book of ₹2,500 crore for fulfilment over the next 6–12 months, with a total bid book of ₹15,000 crore, indicating strong demand visibility and revenue growth potential. Outlook Man Industries said the company is targeting a ~20 per cent YoY revenue growth for FY26, backed by the timely execution of ongoing and upcoming projects, capacity expansion, and continued order inflows. With a strategic emphasis on operational excellence, product innovation, and international market expansion, Man Industries is well-positioned to deliver sustained value to all stakeholders, the management said. 'Our targeted expansions into the ERW segment, successful execution of high-value projects, robust order book, and the strategic monetisation of a non-core asset have laid a strong foundation for continued momentum in FY26. With capacity expansions progressing in Saudi Arabia and Jammu, we are confident in our ability to scale operations and deepen our footprint across domestic and global markets,' the management said. About Man Industries Man Industries is one of the largest manufacturers and exporters of large diameter carbon steel line pipes (LSAW, HSAW and ERW), which are used for various high-pressure transmission applications for the oil & gas industry, petrochemicals, water, dredging & fertilisers, hydro-carbon and CGD Sector. The company is undertaking capex to further widen its product offerings by entering the manufacturing of Stainless-Steel Seamless pipes and setting up a new plant at Dammam, Saudi Arabia, with a cost of ₹ ~600 crore. This plant will include line pipe manufacturing and a coating facility, which will cater to Saudi Arabia's growing demand.
Fashion Network
7 days ago
- Business
- Fashion Network
Eume raises Rs 25 crore, plans retail expansion
Premium travel luggage and accessories brand Eume has raised Rs 25 crore in a Series A equity round led by investor Ashish Kacholia, with participation from existing backers Pradeep Rathod of Cello Group and Prithviraj Kothari of Arvog Financial. The funds will be used to expand Eume's retail presence, enhance team capacity, scale up marketing efforts, and strengthen working capital as it grows within the premium luggage category. 'Our vision is to become India's premier luggage brand- and for that, strong marketing is non-negotiable,' said Eume's founder Naina Parekh, India Retailing reported. 'We will not compromise on brand appeal under any circumstances.' Eume plans to open three flagship stores within 45 days in Bengaluru (at Mall of Asia), Mumbai (Oberoi Sky City), and Hyderabad (Sarath City), as part of its offline growth strategy. 'Eume's sales channels are rapidly expanding,' said the brand's co-founder Pranay Parekh. 'While we've seen robust growth online, our thoughtfully crafted price points are also well received in-person, and that's where offline becomes key.' The brand is also focused on product innovation and premiumisation, tapping into India's evolving travel and lifestyle preferences. Eume's products range from travel luggage and 'Massager Backpacks' to vegan leather handbags and laptop backpacks among others, according to its direct to customer e-commerce store.
Time of India
27-05-2025
- Business
- Time of India
Travel luggage startup EUME raises Rs 25 cr in Series A led by Ashish Kacholia
New Delhi: Premium travel luggage brand EUME has raised Rs 25 crore in a Series A funding round led by investor Ashish Kacholia , with continued backing from early investors including Pradeep Rathod (Cello Group) and Prithviraj Kothari (Arvog Financial), according to a media release on Tuesday. The funds will be used to expand retail presence, strengthen the team, boost marketing, and enhance working capital. The company plans to open flagship stores in Bengaluru (Mall of Asia), Mumbai (Oberoi Sky City), and Hyderabad (Sarath City) over the next 45 days, stepping up its offline expansion strategy. EUME is also preparing to double its product portfolio, focusing on the fast-growing premium travel segment. 'Our vision is to become India's premier luggage brand,' said Naina Parekh , founder of EUME. 'We aim to bring next-level innovation rooted in convenience, paired with striking, aspirational marketing.' 'While we've seen robust growth online, our crafted price points are resonating offline as well,' added Pranay Parekh, Co-founder. 'We're scaling our retail footprint and growing in both B2C and B2B segments.' Founded with a design-first approach, EUME is now gearing up for new launches and category-defining collaborations in the coming quarters.
Entrepreneur
27-05-2025
- Business
- Entrepreneur
D2C Travel Brand EUME Raises INR 25 Cr in Series A
The round was led by renowned investor Ashish Kacholia, with participation from existing backers Pradeep Rathod of Cello Group and Prithviraj Kothari of Arvog Financial. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Mumbai-based D2C luggage and travel accessories brand EUME has successfully raised INR 25 crore (approximately USD 3 million) in its Series A equity round. The round was led by renowned investor Ashish Kacholia, with participation from existing backers Pradeep Rathod of Cello Group and Prithviraj Kothari of Arvog Financial. This follows a previous INR 15 crore round led by Kacholia in June last year, signaling strong continued confidence in the brand's vision. The newly raised capital will be strategically deployed to scale EUME's retail presence across India, strengthen its core team, accelerate marketing, and enhance working capital. The goal is to cement EUME's position as a premium player in the travel accessories segment, targeting discerning consumers across both metro and Tier I markets. Founded by Naina Parekh and Pranay Parekh, EUME started as a design-led luggage brand and has built a loyal customer base through striking brand collaborations with marquee events such as the Tata Mumbai Marathon and SulaFest. The brand is now gearing up to open three flagship stores within the next 45 days — at Mall of Asia in Bengaluru, Oberoi Sky City in Mumbai, and Sarath City in Hyderabad — as part of its aggressive offline expansion strategy. "Our vision is to become India's premier luggage brand — and for that, strong marketing is non-negotiable," said Naina Parekh, Founder of EUME. "We aim to bring next-level product innovation rooted in convenience, paired with aspirational marketing that positions EUME as the go-to brand for every travel need." EUME's offerings span premium travel luggage, backpacks, and accessories, with plans to expand further across travel categories. The brand is growing rapidly across both B2C and B2B channels, including corporate gifting partnerships. Pranay Parekh, Co-founder, emphasised, "Offline retail is crucial for us now. Our pricing strategy and premium designs work brilliantly in both online and in-person experiences. We are also proud to be the official gifting partner for various corporates, reinforcing our presence in both retail and enterprise segments." Lead investor Ashish Kacholia summed it up: "EUME has consistently demonstrated bold vision and flawless execution. Their innovation, design language, and quality are unmatched. I believe EUME is a long-term winner in the travel category."
Mint
22-05-2025
- Business
- Mint
Ashish Kacholia portfolio: Nuvama sees 30% upside in Balu Forge shares. Should you buy?
Shares of Ashish Kacholia portfolio stock Balu Forge Industries have caught the attention of market watchers after brokerage firm Nuvama Institutional Equities initiated coverage with a 'Buy' rating and a price target of ₹ 790, indicating a 30 percent upside from current levels. The optimistic outlook is driven by the company's aggressive capacity expansion, strategic entry into defence manufacturing, and efforts to diversify away from the agriculture sector. Balu Forge's stock, which is part of ace investor Ashish Kacholia's portfolio, has already delivered over 100 percent returns in the last one year. However, after correcting 20 percent in 2025 and 25 percent from its October 2024 peak, Nuvama believes the recent dip presents an attractive entry point. 'As the new capacity comes up, Balu Forge will start selling bigger and heavier machined components. This should drive re-rating of the stock especially as the sales and EBITDA grow by 30% CAGR,' the brokerage noted in its latest report. In a bullish scenario, Nuvama estimates the stock could even climb to ₹ 850, driven by long-term structural growth and improving margins. Ashish Kacholia held 18.65 lakh Balu Forge shares, representing 1.66 percent stake in the company. Strong Capacity Push and Defence Entry Key to Growth: Balu Forge, founded in 1989, has been a dominant player in crankshaft manufacturing for the agriculture industry. However, as per Nuvama, the company is undergoing a strategic transformation to enter high-value verticals such as defence, oil & gas, and industrial segments. The company has ramped up its machining capacity from 18,000 metric tonnes (mt) in FY24 to 32,000mt in FY25 and has plans to scale it further to 80,000mt over the next 12–18 months. A critical part of this expansion includes a defence production line with the capacity to produce 3.6 lakh artillery shells annually, expected to go live in the first half of FY25. This defence focus, according to Nuvama, is likely to mark a major inflection point for the company. Capitalising on Supply Chain Shifts: The Russia-Ukraine conflict disrupted the global supply chain of forging components, especially in Europe. Nuvama pointed out that this led to a vacuum in the market, prompting Indian companies like Balu Forge to ramp up production capacity. The company is now positioning itself as India's second-largest forging player after Bharat Forge. With its new manufacturing capabilities, Balu Forge can machine components up to three metres in length and weighing up to 1,500kg—surpassing most domestic peers. 'Only Bharat Forge comes close, with a machining limit of 1,250kg. This makes Balu Forge well-positioned to serve the growing needs of sectors like defence and railways,' the brokerage added. Diversifying Away from Agriculture: Nuvama also highlighted that Balu Forge is working to reduce its dependence on agriculture, which currently contributes 40 percent of its revenue. The company aims to cut this to 25 percent by FY28 while boosting its exposure to railways, aerospace, and defence to 25 percent—up from the current 10 percent. This strategic shift into high-margin, capital-intensive segments is expected to reduce revenue volatility and strengthen long-term growth. Solid Earnings Outlook Through FY28: According to Nuvama, Balu Forge is expected to witness a 30 percent CAGR in production volumes between FY25–27, thanks to the new capacity coming online. At the same time, average realisations are projected to rise to ₹ 400–450/kg from the current ₹ 250–260/kg. These factors combined are expected to drive revenue and EBITDA CAGR of 34 and 35 percent, respectively, over FY25–28. Net profit is also estimated to grow at a healthy 30 percent CAGR, despite marginal compression in PAT margins due to increased depreciation and lower other income. Balu Forge has delivered multibagger returns of 106 percent in the last one year. In May 2025 alone, the stock has surged 25 percent after a 20 percent decline in April. It jumped 35 percent in March, recovering from back-to-back declines of 22 percent in February and 23 percent in January. With strong fundamentals and sectoral tailwinds, the stock appears well-positioned to sustain its upward trajectory in the coming quarters. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
