Dolly Khanna cuts stake in these 2 stocks in March quarter

Stocks

Dolly Khanna’s shareholding in Talbros Automotive Components stands reduced to 1.13 percent by March 2022, against 1.71 percent at the end of December 2021.

Sunil Shankar Matkar

April 07, 2022 / 03:44 PM IST

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Ace investor Dolly Khanna, who holds a portfolio of total 20 stocks at the end of December quarter, has lowered her shareholding in two companies but increased in one fertiliser stock in the March 2022 quarter.

According to the latest shareholding pattern for the quarter ended March 2022, Khanna cut stake in Talbros Automotive Components by six-tenth of a percent during the quarter. The stock delivered 26 percent return in last one month.

As a result, her shareholding in the diversified automotive components manufacturer stands reduced to 1.13 percent by March 2022, against 1.71 percent at the end of December 2021.

Vijay Kishanlal Kedia, another major investor, held 2.27 percent stake in Talbros. He, however, retained  his stake on a sequential basis.

CARE Ratings had recently upgraded its credit rating on the company’s long term bank facilities to ‘A’, from ‘A-‘ with a ‘stable’ outlook.

“The revision in the ratings assigned to the bank facilities of Talbros factors in improved operational performance of the group during FY21 and current year backed by healthy demand dynamics, particularly Q3FY21 onwards, leading to increased volumes, including exports along with better profitability margins,” CARE had said on March 31.

CARE said the ratings continued to derive strength from the company’s experienced promoters, its strong partnerships with globally reputed clients (Nippon Leakless Corporation-Japan, Fiat Group-Italy and Marugo Rubber Industries-Japan), its diversified customer base across varied segments, its long track record of operations with a strong distribution network, and its comfortable capital structure.

In the nine months to December 2021, Talbros recorded a massive 176 percent on-year increase in profit at Rs 32.3 crore with EBITDA (earnings before interest, tax, depreciation and amortisation) rising 51 percent, while revenue grew by 49 percent to Rs 435 crore compared to corresponding period last fiscal.

The second stock where the well-known investor lowered stake is NCL Industries, the cement company, which registered 16 percent gains in last one month. Her latest shareholding in the company is 1.6 percent, down by 0.13 percent, compared to 1.73 percent, held as of December 2021.

NCL Industries has recorded a 21.4 percent year-on-year increase in revenue at Rs 1,188 crore for the nine months period ended December 2021, but profit declined 32.4 percent to Rs 78.74 crore during the same period due to sharp increase in fuel cost and transport and handling expenses.

However, she was the buyer in Mangalore Chemicals & Fertilizers during the quarter ended March 2022, as a result her shareholding stands increased by 0.21 percent to 1.66 percent, from 1.45 percent as of December 2021.

The fertiliser chemical company had clocked robust growth during April-December 2021 period with profit growing 61 percent to Rs 84.4 crore and revenue surging 41 percent to Rs 2,176.7 crore compared to same period last year.

Mangalore Chemicals share price recorded 47 percent gains in last one month, outperforming the Nifty50 that gained more than 12 percent during the same period.

Dolly Khanna’s 20-stock portfolio is valued at Rs 410.5 crore, as per trendlyne. Other stocks she held in her portfolio included Aries Agro, Indo Tech Transformers, Nitin Spinners, Polyplex Corporation, Monte Carlo Fashions, and Deepak Spinners as of December 2021.

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