A look at the performance dispersion shows that outsized winners have emerged largely from the SME segment, even as some mainboard names have seen deep corrections.
Multibaggers under spotlight
The biggest wealth creator in the portfolio is Tankup Engineers, which has rocketed 329% from its issue price of Rs 140 to Rs 589, making it a more-than-fourfold return for investors.
Close behind is Sacheerome, which surged 245%, and Monolithisch India, which has rallied 217% since listing. These three counters stand out as clear multibaggers, underscoring the sharp upside potential in select SME bets.
Among other strong performers, Belrise Industries has doubled investors’ money with gains of 108%, while Zelio E-Mobility has jumped 97%. Safe Enterprises Retail Fixtures has delivered a 77% return, and Jain Resource Recycling has risen 61%.Additional gainers include Shree Refrigerations (+46%), Connplex Cinemas (+36%), Unified Data-Tech Solutions (+31%), Anand Rathi Share & Stock Brokers (+28%), E to E Transportation Infrastructure (+27%), and Brandman Retail (+25%).
The performance suggests that while mainboard picks delivered steady gains in select cases, the biggest alpha came from high-growth SME listings.
Big laggards
Not all his bets have paid off yet. The steepest decline in the portfolio is in Chatterbox Technologies, which
Other notable underperformers include Gem Aromatics (-39%), Ellenbarrie Industrial Gases (-38.5%), and Laxmi India Finance (-38%).
Among SME names, Methodhub Software has declined 36%, while Excelsoft Technologies is down 28%. Neochem Bio Solutions, GLEN Industries, and Curis Lifesciences have also corrected between 19% and 22%.
Even relatively smaller declines, such as Systematic Industries (-14%), Amanta Healthcare (-13%), and Dhara Rail Projects (-6%) reflect the broader volatility across segments.
The analysis of these 32 stocks suggests that high risks bring both higher gains and deeper cuts simultaneously, according to data from Chittorgarh.com. In the list, 18 stocks are trading above their issue price while 14 are down.
Agrawal also invested in Solarium Green Energy, a stock listed on the BSE SME platform. The December shareholding data is not available on the BSE, so we cannot tell if he is still invested in it. The stock is trading 11% lower than the issue price of Rs 191.
General trends
Equity markets had a difficult time navigating 2025 amid tariff-related concerns, premium valuations in domestic markets, and geopolitical concerns, shifting the focus to large caps, which are conventionally considered safer than