Nemish Shah, the almost invisible super investor to the common man, is very well known in India’s investment circles. In 1984, Nemish along with his partner Vallabh Bhanshali, also someone else who deserves to be called Warren Buffet of India, founded one of India’s leading financial advisory institutions – ENAM Securities. ENAM recently merged its investment banking and broking operations with Axis Bank.
Currently this Warren Buffet of India, Nemish Shah, holds 7 stocks in his individual portfolio, with a net worth of over Rs 2,888 cr. Enam Securities Pvt Lt holds 37 stocks worth Rs 14,119 cr.
But today we will dig into 2 midcap stocks that Shah has held for a decade in his personal portfolio. After all, when someone like Shah invests in a less known company and then trusts it for a decade, it warrants all the attention.
What is it in these stocks that have kept Shah hooked onto them for a decade. Let us try and find out.
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Lakshmi Machine Works Ltd – LMW
Lakshmi Machine Works (LMW), established in 1962, is a key player in global textile machinery. They are one of only three companies worldwide that build the full range of spinning equipment. Beyond textiles, LMW produces CNC machine tools, heavy castings, and parts for the aerospace sector. Essentially, they provide the backbone for India’s textile industry, offering everything from raw material processing to finished yarn production.
With a market cap of Rs 17,313 cr, the company has seen a holding by Nemish Shah from as back in time as December 2015 (as per data available on Trendlyne.com). As on the quarter ending December 2024, Shah holds 5.43% stake in LMW with a holding value of over Rs 1,500 cr.
According to the transcript of the company’s latest earnings call from January 2025, it has an order book of Rs 3,100 cr, of which the active orders are around Rs 2,300 cr.
The sales for LMW have grown at a compound rate of 12% from Rs 2,712 cr in FY 19 to Rs 4,696 cr in FY24. And 9MFY25, the company has logged in sales of Rs 2,208 cr.
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