The maverick had managed to pick enough multibaggers like Avanti Feeds (100-bagger), Apar Industries, Sanghvi Movers, JSL, HEG, Finolex Cables, Nilkamal, among others, in his PMS fund launched in February 2013. What made him stand apart from his peers was not just his multibagger approach, jaw-dropping returns, but also his bold and contrarian approach.
Back in November 2024, when most of his peers were cautiously optimistic on the equity market, citing the long-term growth outlook of India, Bhaiya’s firm Aequitas declared that it was sitting 80% in cash, citing a deadly combination of high valuations and tepid economic growth.
Also Read | India’s top smallcap multibagger hunter Siddhartha Bhaiya passes away after cardiac arrest
Later on, he moved cash holdings to gold ETFs and managed to top the charts once again. In the last year ending November 2024, his fund was the topper with a 36% annual return, according to PMS Bazaar data. The bold call of selling mulitbaggers to buy gold ETFs and make it 81.5% of his portfolio clearly paid off. At the end of November, the fund also stakes in Technocraft Industries and Petronet LNG, besides 2% in a silver ETF.
His boldness was on public display last month when, at a wealth summit, he described the current market as a “bubble of epic proportions” rather than a healthy bull phase.
The multibagger hunter had earlier said he doesn’t see any logic in being invested given the valuations that the Indian smallcap is currently quoting at and the frenzy across investors about Indian capital markets.His investing approach involved identifying stocks which are currently ignored and have a catalyst in place which can catapult the company’s sales as well as re-rate the company’s P/E.
Bhaiya believed in holding the stock through its entire wealth
creation journey, making his average holding period approximately 3 years.
“We’ve had several multibaggers in our journey so far, some of which have been 5 baggers to even a 100 bagger for our investors. But the priority and focus are always on the investing process and adhering to our investing DNA. We invest with a high margin of safety in top quality companies with growth potential over a long period of time,” the PMS fund manager had told ET Markets earlier in an interview.
Avanti Feeds, in which Bhaiya made 100x returns, is probably his biggest successful stock pick. He made 50x returns in Apar Industries and Sanghvi Movers. Smallcaps like JSL, GAEL, HEG, Finolex Cables and TIIL were 20-baggers for him. Other stocks where he made more than 10x returns are HIL, Garware, CCL Products, Cosmo First, Maithan Alloys, Nilkamal and Powermech.