Latest Nemish Shah Shareholdings and Portfolio in 2026
Nemish Shah is one of India’s most respected and successful investors and the co-founder of ENAM, with a remarkable career that spans over four decades. With a total stock portfolio value worth of ₹2,888.7 cr. as of March 2026, 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 2026
As of March 2026, the Nemish Shah portfolio includes seven active stocks. Below is a snapshot of Nemish Shah’s holdings and their corresponding value:
| Stock Name | Holding Value (in Cr) | Shares Held | Dec 2025 Change % | Dec 2025 Holding % | Sep 2025 Holding % |
|---|---|---|---|---|---|
| Lakshmi Machine Works Ltd | 1,299.900 | 926,373 | 0 | 8.70 | 8.70 |
| Asahi India Glass Ltd | 1,218.600 | 14,482,818 | 0 | 5.70 | 5.70 |
| Elgi Equipments Ltd | 250.300 | 5,360,000 | 0 | 1.70 | 1.70 |
| Bannari Amman Sugars Ltd | 117.100 | 325,000 | 0 | 2.60 | 2.60 |
| Zodiac Clothing Company Ltd | 2.800 | 405,124 | 0 | 1.60 | 1.60 |
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 March 2026, Nemish Shah’s net worth is estimated to be ₹2,888.7 cr., which comes from his successful investments in several well-known companies.
Overview of Top Nemish Shah Stocks
- 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 2026, Nemish Shah’s net worth stands at ₹2,888.7 cr. His publicly disclosed portfolio has grown sharply from around ₹431.5 cr. in 2019, although recent years have also seen fluctuations due to broader market uncertainty and changes in stock prices. This trend highlights both the long-term growth in his portfolio and the impact of market cycles on listed wealth.
Nemish Shah Portfolio Stocks Reductions
Between June 2025 and December 2025, Nemish Shah reduced his stake in Lakshmi Machine Works Ltd from 8.80% to 8.70% and Asahi India Glass Ltd from 6.00% to 5.70%. His holdings in Bannari Amman Sugars Ltd, Elgi Equipments Ltd, and Zodiac Clothing Company Ltd remained unchanged over the same period.
| Company Name | Decrease in Shareholding % |
| Lakshmi Machine Works Ltd | -0.1 |
| Asahi India Glass Ltd | -0.3 |
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.
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 ₹2,888.7 cr. as of March 2026.
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.
Disclaimer: Please note that the above list is for educational purposes only, and is not recommendatory.
No, Nemish Shah has not invested in any new stocks in the latest quarter. The holdings and stake percentages in companies like LMW Ltd, Asahi India Glass, Elgi Equipment, Bannari Amman Sugars, and Zodiac Clothing remained unchanged quarter-on-quarter.
Enam Securities Portfolio refers to the publicly tracked stock holdings linked to ENAM and its promoters, especially Nemish Shah. It is usually discussed using shareholding disclosure data to understand the investor’s major listed equity positions across sectors.
Market participants track Nemish Shah’s investor portfolio mainly because he is a long-standing market figure associated with ENAM, and his disclosed holdings are seen as a window into a research-led investing style.
Nemish Shah co-founded ENAM in 1984. ENAM started as a stockbroking firm and later grew into a well-known Indian investment house, which is why its name is closely linked with the group.
