Ashish Kacholia holds 4% stake: Petrochemicals company approved proposal for acquisition of 100% equity shares of Konkan Storage Systems (Karwar) Pvt Ltd

DSIJ Intelligence-1 / 09 Jul 2025/ Categories: Multibaggers, Trending

Ashish Kacholia holds 4% stake: Petrochemicals company approved proposal for acquisition of 100% equity shares of Konkan Storage Systems (Karwar) Pvt Ltd

The stock is up by 14 per cent from its 52-week low of Rs 838.45 per share and has given multibagger returns of 965 per cent in 5 years.

Agarwal Industrial Corporation Limited (AICL) announced on Tuesday, July 8, 2025, that its Board has approved the acquisition of 100 per cent equity shares of Konkan Storage Systems (Karwar) Private Limited for a total consideration of Rs 22,00,00,018 (Rupees Twenty-Two Crores Eighteen Only). Konkan Storage Systems is involved in port-based industrial and infrastructure activities, including setting up warehouses for various types of cargo (solid, liquid, and heated) and handling liquid cargo. This strategic acquisition, which will be a cash consideration, aims to transition AICL's operations from relying on leased tanks and equipment to owning these critical assets, thereby reducing costs and ensuring their availability.

Konkan Storage Systems (Karwar) Private Limited, incorporated on April 11, 2011, primarily operates in warehousing, storage, and support activities for transportation within India. As per its audited financial statements, the company's turnover as of March 31, 2024, was Rs 329.76 lakhs, with preceding turnovers of Rs 269.26 lakhs in 2023 and Rs 304.34 lakhs in 2022. The acquisition is not considered a related party transaction. Upon completion, this move will integrate the acquired assets into AICL's portfolio, enhancing its operational efficiency and asset base.

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Agarwal Industrial Corporation Ltd. is a diversified company primarily focused on the infrastructure and energy sectors. Their core business involves manufacturing and trading bitumen and allied products, which are crucial for various infrastructure projects. The company also provides logistics services for bulk bitumen and LPG transportation through its specialised tankers. Additionally, they generate clean energy through wind power, contributing to sustainable development.

An ace investor, Ashish Kacholia, owns a 4 per cent stake in the company. The company has a market cap of over Rs 1,400 crore and has delivered good profit growth of 51.7 per cent CAGR over the last 5 years. The stock is up by 14 per cent from its 52-week low of Rs 838.45 per share and has given multibagger returns of 965 per cent in 5 years.

Disclaimer: The article is for informational purposes only and not investment advice.