Nemish Shah Portfolio in 2025: Top Stocks, Holdings and Investment Strategy
Nemish Shah is one of India’s most respected and successful investors, with a remarkable career that spans over four decades. With a total net worth of ₹3,447.35 cr as of 2025, Nemish has consistently demonstrated his ability to identify high-potential investments that generate substantial returns. Here we will explore Nemish Shah’s Portfolio, and his investment across various sectors, and analyse his investment strategy behind his successful journey in the stock market.
Nemish Shah Portfolio in 2025
As of June 2025, the Nemish Shah portfolio includes seven active stocks. Below is a snapshot of Nemish Shah’s holdings and their corresponding value in cr.:
| Company Name | June 2025 Holding (%) | Value (₹ in cr) |
|---|---|---|
| Lakshmi Machine Works Ltd | 10.22 | 1666 |
| Asahi India Glass Ltd | 5.95 | 1317.43 |
| Elgi Equipments Ltd | 1.69 | 265.59 |
| Bannari Amman Sugars Ltd | 2.59 | 118.67 |
| Vascon Engineers Ltd | 3.88 | 53.63 |
| Investment & Precision Castings Ltd | 10 | 22 |
| Zodiac Clothing Company Ltd | 1.56 | 4.03 |
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 Nemish S Shah?
Nemish S Shah is one of India’s most successful and well-known investors. He co-founded ENAM Holdings in 1984, a company that started as a stockbroking firm and later grew into one of India’s leading investment houses. ENAM played a major role in helping many companies go public through Initial Public Offerings (IPOs).
Apart from his investment expertise, Nemish S Shah is also a philanthropist. He is the founder of the Foundation for Liberal and Management Education (FLAME), which aims to improve higher education in India by combining modern learning with traditional Indian values.
As of 2025, Nemish Shah’s net worth is estimated to be ₹3,447.35 cr., which comes from his successful investments in several well-known companies.
Overview of Top Nemish Shah Stocks
Let’s take a look at Nemish Shah’s top holdings from his portfolio:
- LMW Ltd: LMW is a leading Indian manufacturer of textile machinery. The company is known for producing high-quality machines used in the textile industry. With a strong presence in both domestic and international markets, LMW plays a vital role in the textile manufacturing process.
- Asahi India Glass Ltd.: Asahi India Glass is one of India’s largest glass manufacturers. The company produces automotive glass and architectural glass, serving industries such as automotive, construction, and infrastructure.
- Elgi Equipments Ltd.: Elgi Equipment is a major player in the air compressor manufacturing industry. Elgi Equipments serves industries like automotive, healthcare, and manufacturing.
- Bannari Amman Sugars Ltd: Bannari Amman is a prominent sugar manufacturer in India. Apart from producing sugar, the company also has interests in power generation and distillery products.
- Vascon Engineers Ltd.: Vascon Engineers is a well-established construction and real estate development company. The company is known for building infrastructure projects, commercial complexes, and residential properties.
Sector-Wise Split of Nemish Shah Portfolio
Nemish Shah’s portfolio is diversified across several key sectors, such as industrial goods, consumer goods, food & beverages, and real estate & infrastructure. Here is a sector-wise allocation of his portfolio:
Below is a Nemish Shah portfolio analysis based on sectors and how they contribute to the overall portfolio:
- Industrial Goods: Nemish Shah’s portfolio is heavily invested in industrial goods, with investments in companies like LMW Ltd. and Elgi Equipments Ltd.. These companies benefit from the growth in infrastructure and industrial activities in India.
- Consumer Goods: Nemish Shah holdings include Asahi India Glass, a consumer goods company that produces essential glass products. As India’s infrastructure expands and the automotive industry grows, the demand for high-quality glass products increases.
- Food & Beverages: Nemish Shah Bannari Amman Sugars investment shows his cautious approach to the food and beverages sector. This sector can be unpredictable due to fluctuations in demand based on agricultural cycles and market conditions.
- Real Estate & Infrastructure: Nemish Shah investments also include Vascon Engineers Ltd., a company in the real estate and infrastructure sector. This sector grows with the rise of urbanisation and government projects like affordable housing and infrastructure development.
Nemish Shah Net Worth Trend
As of 2025, Nemish Shah’s net worth is ₹3,447.35 cr. As you can see from the graph, Nemish Shah’s net worth has grown steadily each year. From ₹907.2 cr in 2021, it has almost quadrupled by 2025, which shows his expertise in value investing and making strategic investments across various sectors.
Nemish Shah Portfolio Stocks: New Additions
Between June 2024 and June 2025, Nemish Shah added new stocks and increased his holdings in some existing ones. He added Popular Foundations Ltd. to his portfolio (exact shareholding pending) and increased his stake in Asahi India Glass Ltd.
| Company Name | Increase in Shareholding % |
| Asahi India Glass Ltd. | 1.38 |
Nemish Shah Portfolio Stocks: Reductions
During June 2024 and June 2025, Nemish Shah reduced or sold some holdings. He completely sold The Hi-Tech Gears Ltd. and slightly reduced stakes in LMW Ltd. and Vascon Engineers Ltd.
| Company Name | Decrease in Shareholding % |
| LMW Ltd. | -0.04 |
| Vascon Engineers Ltd. | -0.04 |
| The Hi-Tech Gears Ltd. | -7.17 |
Nemish Shah Investment Strategy
Nemish S Shah follows a clear and disciplined investment strategy that has helped him build a successful portfolio over the years. Here are the main principles of Nemish Shah’s portfolio analysis:
- Focus on High ROCE (Return on Capital Employed): Nemish S Shah looks for companies with a ROCE of at least 9%. He believes that companies with a higher ROCE use their capital efficiently to generate returns.
- Long-Term Investment Horizon: Shah takes a buy-and-hold approach, often keeping his investments for many years, sometimes even a decade or more. By doing this, he allows his investments to grow and compound over time, riding out short-term market fluctuations.
- Quality Management: For Shah, strong leadership is crucial. He looks for companies led by capable and honest management teams. This is one reason why Nemish Shah’s portfolio includes companies with excellent management that can create lasting value.
- Concentrated Portfolio: Rather than spreading his investments too thin, Shah prefers to focus on a few stocks he has high conviction in. Nemish Shah holdings often feature a smaller number of stocks but with larger stakes in the companies he believes in.
- Value Investing: Shah seeks companies that are undervalued, meaning their current stock price is lower than their intrinsic value. By finding companies with strong fundamentals and a clear growth path, he invests in businesses that he believes will grow over the long term.
To Wrap It Up…
To sum up, Nemish Shah’s portfolio shows how thoughtful and careful investing can lead to long-term success in the stock market. His approach teaches us that focusing on quality, being patient, and understanding the companies you invest in can lead to great results. However, always remember to do your own research before investing. Following someone else’s portfolio without prior research can expose you to unnecessary risks.
To Wrap It Up…
Anil Kumar Goel’s journey from a steel-trading scion to one of India’s most respected value investors underscores the power of sector expertise, disciplined capital allocation, and patience. His “KCPLTD” framework offers a replicable blueprint for investors seeking to uncover undervalued opportunities and generate outsized long-term returns.
Frequently Asked Questions About Nemish Shah Portfolio
Nemish Shah is a well-known investor and the co-founder of ENAM Holdings. He has built a strong reputation in India for his smart investments, which spread across various key sectors. With his disciplined investment strategy, he has built a portfolio worth ₹3,447.35 cr. as of 2025.
Some of Nemish Shah’s top holdings where he has invested the most include:
– LMW Ltd.
– Asahi India Glass Ltd.
– Elgi Equipments Ltd.
– Bannari Amman Sugars Ltd.
Disclaimer: Please note that the above list is for educational purposes only, and is not recommendatory.
Nemish Shah’s investment strategy focuses on value investing. He looks for companies that are undervalued but have strong management, solid fundamentals, and the potential for long-term growth. Shah also focuses on companies with a high Return on Capital Employed (ROCE) of at least 9% and prefers a concentrated portfolio with fewer, but high-conviction stocks.
Nemish Shah Portfolio is well-diversified and includes companies from various sectors such as industrial goods, consumer goods, and food & beverages.
Some of Nemish Shah’s stock picks that have given good returns include Lakshmi Machine Works, Elgi Equipment, and Asahi India Glass. For example, Nemish Shah Lakshmi Machine Works stake is worth over ₹1,490 cr. and has delivered around 200% returns since 2015. On the other hand, Nemish Shah’s Elgi Equipment shares have rallied more than 550% since his investment, contributing significantly to his portfolio value.
