Thomas Scott India Ltd (TSIL)
Thomas Scott (India) Limited formed in October 2010 to acquire Bang Overseas Limited’s Retail Division under the “Thomas Scott” brand. The demerger, effective April 1, 2011, was finalized on August 5, 2011. The company was listed on NSE and BSE in January 2012.
With a current market cap of Rs 320 cr, TSIL is the company manufactures and trades textile products, operating 31 retail outlets nationwide and selling men’s formal and casual wear through Large Format Stores. It maintains a centralized warehousing and logistics centre to optimize its supply chain operations.
India’s Warren Buffet, ace investor Ashish Kacholia just bought a 2.53% stake in the company.
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What’s interesting is that not only Ashish, but FIIs have also shown keen interest in TSIL. The FII holding for TSIL went from 0.3% for the quarter ending September 2024 to 0.58% for the quarter ending December 2025. And as per data available on screener.in, the FII holdings have gone up to 0.88%.
Now although these are lower than 1% holdings, one must also keep in mind that this stake increase comes at a time when the FII outflow has been the biggest in last few years or decades.
Domestinc institutional investors have also picked on the ride. DII holdings grew from 0.99% for the quarter ending September 2024 to 2.02% for the quarter ending December 2024. And as per latest data, it has gone up to 2.63% as of today.
One front where the company shines and which could be the reason for the stakes by these super investors is the company’s capital efficiency.
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The ROCE (Return on Capital Employed) is over 31%, which means for every Rs 100 TSIL invests as capital in the business, it makes a profit of Rs 31 on it. Which is higher than the industry median which is currently only 14%.
The financials also look like something that could have caught Kacholia’s attention.
TSIL’s sales jumped from Rs 21 cr in FY19 to RS 90 cr in FY24, logging in a compounded growth of 33% in 5 years.
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