Mukul Agrawal Portfolio and Latest Stocks
Mukul Agrawal is a well-known Indian equity investor and the founder-chairman of Param Capital Group. He is widely followed for his research-led approach and for identifying small-cap and mid-cap companies across sectors. According to the latest corporate shareholding data, his publicly disclosed portfolio includes 72 stocks with a net worth of over ₹7,916.1 cr., keeping him among the most closely tracked investors in the Indian stock market. In this article, we cover the stocks in Mukul Agrawal’s portfolio, his latest additions and exits, sector-wise distribution, and more.
Latest Mukul Agrawal Shareholding in 2026
Here is a list of 72 active stocks in Mukul Agrawal’s portfolio in 2026:
Disclaimer: Please note that the above table is for educational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing. The data is derived from Tickertape Stock Screener and is subject to real-time updates.
Who is Mukul Agrawal?
Mukul Agrawal is a widely tracked Indian equity investor and the founder and chairman of Param Capital Group. Active in the stock market since the 1990s, he is known for identifying small-cap and mid-cap companies early and holding them through their growth phase.
He maintains separate portfolios for investment and trading. Among his current holdings, Neuland Laboratories is one of the largest by value. His disclosed portfolio also includes companies from sectors such as engineering, healthcare, infrastructure, and financial services.
Career & Business Endeavours of Mukul Agarwal
- Grey-Market Beginnings (Early 1990s): Started trading unlisted IPOs on Dalal Street, earning his first lakhs by age 23 through sharp analysis and trust-building.
- Param Capital Group (Founded 1993): A sector-agnostic trading and investment firm headquartered in Mumbai’s BKC, managing both public and private portfolios.
- Agarwal Corporates (Founded 2003): Financial education and consultancy services, offering workshops and stock-market training.
- Finowings (Founded 2022): A trading academy holding a Guinness World Record for the largest “financial freedom conclave” of 1,806 attendees (Dec 11, 2022).
- Plaksha Foundation (Founded 2021): Trustee of a Mohali-based private engineering institution providing interdisciplinary curricula to solve real-world problems.
Overview of Stocks in Mukul Agarwal Portfolio
Here is an overview of Mukul Agrawal’s portfolio companies in 2026.
- Neuland Laboratories Ltd: Neuland Laboratories Ltd is a pharmaceutical company focused on active pharmaceutical ingredients, or APIs. It works as a global API development and manufacturing company and supports pharma and biotech businesses with complex APIs, peptides, and scale-up from clinical-stage production to commercial manufacturing.
- Radico Khaitan Ltd: Radico Khaitan Ltd is one of India’s oldest and largest Indian Made Foreign Liquor companies. It manufactures and markets branded spirits across categories such as whisky, vodka, rum, brandy, and gin, and has grown from a bulk spirits supplier into a large branded liquor business.
- ASM Technologies Ltd: ASM Technologies Ltd is an engineering and product R&D services company. It provides consulting, engineering services, and product development support, with operations across India and several overseas markets, including the US, Singapore, the UK, Canada, Mexico, and Japan.
- Nuvama Wealth Management Ltd: Nuvama Wealth Management Ltd is a financial services company focused on wealth and investment solutions. Its broader platform serves affluent, high-net-worth, and ultra-high-net-worth clients across services such as wealth management, broking, investment products, portfolio management, clearing and custody, and related advisory offerings.
- Zota Health Care Ltd: Zota Health Care Ltd is an Indian pharmaceutical company engaged in the development, manufacturing, marketing, export, and retail of pharmaceutical products. Its portfolio includes pharmaceutical, nutraceutical, and ayurvedic products for both domestic and international markets.
Mukul Mahavir Agrawal Portfolio – Sector Split Overview
Here’s a Mukul Agrawal portfolio sectors-wise breakdown.
Mukul has invested in 11 sectors, but here are the top 5 sectors where he has invested the most.
- Healthcare & Pharma: This is Mukul Agrawal’s largest sector exposure. It includes pharmaceutical and healthcare businesses involved in APIs, formulations, speciality healthcare products, and hospital-linked services. Some of the top names in this sector are Neuland Laboratories, Zota Health Care, Onesource Specialty Pharma, Dishman Carbogen Amcis, and Strides Pharma Science.
- Technology & Digital Services: This sector includes companies that operate in software, IT services, digital platforms, and enterprise technology solutions. It reflects exposure to businesses linked to automation and digital transformation. The top names here include ASM Technologies, Intellect Design Arena, MPS, Unified Data-Tech Solutions, and Infobeans Technologies.
- Capital Goods, Industrials & Engineering: This sector covers industrial manufacturing, engineering solutions, equipment makers, and project-based businesses. These companies are often linked to infrastructure and industrial activity. Some of the top holdings in this space are PTC Industries, Capacite Infraprojects, KRN Heat Exchanger and Refrigeration, TAAL Enterprises, and WPIL.
- Financial Services: This sector includes banks, NBFCs, wealth-related businesses, and other financial companies. It gives exposure to lending, financial intermediation, and money management. The key names here are Nuvama Wealth Management, Jammu and Kashmir Bank, Arman Financial Services, Suryoday Small Finance Bank, and Laxmi India Finance.
- Metals, Mining & Materials: This sector includes companies engaged in metals, ferro alloys, mining-related products, and industrial raw materials. These businesses are usually tied to manufacturing, construction, and infrastructure demand. The main names in this bucket are Sarda Energy & Minerals, Indian Metals and Ferro Alloys, Kirloskar Ferrous Industries, Prakash Industries, and Monolithisch India.
Which Stocks were Added to Mukul Agrawal’s Portfolio List?
Mukul Mahavir Agrawal’s portfolio 2026 additions include the following stocks:
- Laxmi India Finance Ltd: Mukul Agrawal made his latest buy in Laxmi India Finance, increasing his stake by 0.75%. This was the largest increase among the stocks shown in the latest portfolio update.
- Valor Estate Ltd: Agrawal increased his holding in Valor Estate by 0.10%, adding further exposure to the company in the latest reported portfolio changes.
- Lux Industries Ltd: Mukul Agrawal raised his stake in Lux Industries by 0.08%, indicating a modest increase in his existing holding.
- Ravindra Energy Ltd: Agrawal also increased his holding in Ravindra Energy by 0.01%, making it the smallest stake increase among the stocks shown in the latest update.
Downsized Mukul Agrawal Stocks from Portfolio?
Mukul Agrawal reduced his stake in the following stocks in the latest portfolio update:
- Vidhi Speciality Food Ingredients Ltd: Mukul Agrawal reduced his holding by 0.22%, making it the largest stake cut among the stocks shown in the latest update.
- Raymond Lifestyle Ltd: His stake in Raymond Lifestyle declined by 0.16%, indicating a moderate reduction in exposure to the company.
- Intellect Design Arena Ltd: Agrawal trimmed his holding in Intellect Design Arena by 0.15%, marking another notable reduction in the latest portfolio changes.
- KRN Heat Exchanger and Refrigeration Ltd: His stake in KRN Heat Exchanger and Refrigeration fell by 0.08%, reflecting a smaller portfolio trim.
- J Kumar Infraprojects Ltd: Mukul Agrawal reduced his holding in J Kumar Infraprojects by 0.06%.
- Strides Pharma Science Ltd: His stake in Strides Pharma Science fell by 0.04%, the smallest reduction among the stocks shown in the latest update.
Mukul Agrawal Net Worth
Based on the latest corporate shareholdings filed, Mukul Agrawal’s publicly disclosed portfolio net worth stands at approximately ₹7,916.84 cr. The latest data shows his portfolio net worth rose by around 0.7%.
Below is a snapshot of Mukul Agrawal’s net worth trend over the last ten years, showing a significant rise from under ₹1,000 cr in the earlier years to nearly ₹8,000 cr by 2026.
Mukul Agrawal Investment Strategy
- Early Growth Opportunities: Mukul Agrawal is known for identifying small and mid-cap companies relatively early in their growth cycle. His portfolio often includes businesses where revenue, margins or market opportunities have room to expand before they attract broader market attention.
- Fundamental Research: His investments indicate a focus on business fundamentals such as earnings growth, cash flows, debt levels, return ratios and management quality. The emphasis is generally on whether a company can scale sustainably rather than short-term share-price movements.
- High-Conviction Bets: Agrawal often builds meaningful positions when he becomes convinced about a company. Some disclosed holdings cross significant ownership levels, suggesting a willingness to take concentrated exposure where he sees stronger growth potential.
- Sector Diversification: His portfolio spans pharmaceuticals, technology, financial services, engineering, chemicals, consumer businesses and infrastructure-linked companies. This sector-agnostic approach allows him to pursue opportunities across different economic and industry cycles.
- Long-Term Holding: Several investments remain in his portfolio across multiple quarters or years. This suggests a willingness to let business growth, operating leverage, and earnings expansion play out rather than relying solely on short-term price movements.
- Active Portfolio Review: The portfolio also changes regularly through new additions, stake increases and exits. This suggests that long-term investing does not necessarily mean holding indefinitely, as portfolio decisions adapt as valuations and business fundamentals change.
Learnings From Mukul Mahavir Agrawal Portfolio
- Look Beyond Large Caps: Mukul Agrawal’s portfolio shows that opportunities can exist beyond established large-cap companies. Smaller businesses can offer higher growth potential, although they may also carry greater liquidity, execution and volatility risks.
- Focus on Business Growth: A recurring theme across his holdings is exposure to companies that can expand revenue, margins, or market share. This highlights the importance of evaluating the underlying business rather than relying only on recent stock-price performance.
- Diversify Across Sectors: His holdings span several industries rather than concentrating on a single theme. Sector diversification can reduce dependence on one industry cycle, although a large number of holdings does not automatically eliminate portfolio risk.
- Give Investments Time: Some positions remain in the portfolio for extended periods, showing how long holding periods can allow earnings growth and business expansion to compound. However, holding periods should still reflect changes in fundamentals and valuations.
- Research Before Following Investors: Public shareholding disclosures show what an investor owns, but not necessarily the purchase price, rationale, or risk tolerance. Investors should therefore use such portfolios for research rather than automatically copying individual holdings.
- Stay Adaptable: Changes in Mukul Agrawal’s disclosed holdings show that portfolios evolve as opportunities and risks change. Reviewing investments periodically can help ensure the original investment thesis still holds.
To Wrap It Up…
Mukul Agrawal has built a strong and diverse portfolio worth over ₹6,425.3 cr by focusing on careful research. He believes in investing for the long term, avoiding impulsive moves, and spreading investments across different sectors. The patient and thoughtful approach helps manage Mukul Agrawal’s portfolio risk profile and find growth opportunities, making his strategy a good example for investors aiming to create lasting wealth in India’s stock market.
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FAQs on Mukul Agrawal Portfolio
Mukul Agrawal is an Indian equity investor and the founder of Param Capital. The ace investor Mukul Agarwal is widely tracked for his publicly disclosed stock holdings and is known for identifying companies across small-cap and mid-cap segments.
As of the 15th September, Mukul Agrawal’s publicly disclosed equity portfolio was valued at about ₹6,604 cr. This estimated Mukul Agarwal’s net worth from listed holdings can change based on stock prices and portfolio updates.
As per the latest shareholding data, the Mukul Agrawal latest portfolio had 72 active stocks. This shows his preference for a fairly broad portfolio spread across multiple sectors and company sizes.
Mukul Agrawal’s investor approach appears to be research-led and long-term in nature. His portfolio shows a preference for growth-oriented businesses, with a mix of conviction-based holdings and broader diversification to reduce concentration risk.
The Mukul Agarwal portfolio has meaningful exposure to sectors such as healthcare and pharma, technology, industrials and engineering, financial services, consumer businesses, and metals. This shows that it is not built around just one theme or sector.
The Mukul Mahavir Agarwal portfolio spans several sectors, including pharma, textiles, infrastructure, IT, financial services, and consumer-focused businesses. This level of diversification helps balance exposure across different parts of the economy.
Some of the larger holdings in his portfolio by value include Neuland Laboratories, Radico Khaitan, ASM Technologies, Nuvama Wealth Management, and Zota Health Care. Mukul Agrawal’s increased stake in ASM Technologies has also drawn attention as part of recent portfolio changes.
Disclaimer: Please note that the above list is for educational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing.
No, his portfolio is not limited to one market-cap category. While the Mukul Agarwal portfolio is often associated with small-cap and mid-cap investing, his disclosed holdings include companies across different sizes and sectors.
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