Ashish Dhawan Portfolio, Shareholdings & Investments

Introduction:

Ashish Dhawan is a prominent figure in private equity investments and is recognized for his wealth and philanthropy in India. Through his firm, Chrysalis Capital, Dhawan manages a portfolio of high-performing stocks, propelling Ashish Dhawan’s net worth past Rs.3,794 crore (Q4 FY 2023-24). 

Whether navigating the intricacies of investments or effecting meaningful change, Ashish Dhawan stands out as a notable figure. How did he make it this far? What are his investing principles? Let’s analyze his portfolio to study how ace investors think. 

Who is Ashish Dhawan?

Ashish Dhawan, born in 1969 in New Delhi, is a 54-year-old private equity investor. In India, he is a prominent figure in finance and education, known for wearing many hats as an investor, philanthropist, and entrepreneur. Ashish Dhavan graduated from Yale University and later earned an MBA from Harvard. He is on Harvard’s India Advisory Board and Yale’s Development Council member.

Ashish Dhawan began his career in 1992 at the boutique Wall Street bank Wasserstein Perella and Company. He then worked for Goldman Sachs in New York and, in 1999, co-founded ChrysCapital, one of India’s largest private equity funds, with Raj Kondur.

Dhawan is the founder and CEO of the Convergence Foundation (TCF), which aims to boost India’s economic growth and development. He also serves as the chairperson of Ashoka University, a leading liberal arts institution, and the Central Square Foundation, a nonprofit dedicated to improving the quality of education for all children in India. 

Ashish Dhawan Portfolio:

The following is the list of Ashish Dhawan’s portfolio stocks (as per the quarter ending March 2024)-

Stock	Percentage share in the company	Number of shares	Value of shares (Rs. in crores)
RPSG Ventures Limited	3.73	1234286	81.51
Religare Enterprises Limited	2.31	7605608	166.05
Quess Corp Limited	3.95	5861223	356.16
Palred Technologies Limited	5.54	678189	7.86
Mahindra and Mahindra Financial Services Limited	1.18	14600000	414.71
IDFC Limited	3.50	56000000	641.31
Greenlam Industries Limited	3.77	4814210	290.78
Glenmark Pharmaceuticals Limited	2.55	7200000	868.39
Equitas Small Finance Bank Limited	3.56	40370000	392.72
Dish TV India Limited	1.57	28957491	43.15
Arvind Fashions Limited	4.94	6564065	309.27
AGI Greenpac Limited	4.79	3100000	221.87

(Source- MoneyControl)

Ashish Dhawan Portfolio Analysis:

1. Sectoral analysis:

Ashish Dhawan’s portfolio holds a major share of medium and small computer software stocks, nearly 18.9%. Media and entertainment stocks, computer software training company stocks, pharmaceuticals, private bank stocks, engineering company stocks, and finance and investment stocks each have an 8.9% share in the portfolio. 

2. Portfolio changes:

During FY2023, Ashish Dhawan acquired a 3.6% stake in Equitas Small Finance Bank at Rs.355.9 crores. The acquisition followed the increase in the company’s quarterly revenue and profits. He also increased his holdings in Glenmark Pharmaceuticals by 0.1% in March 2023. 

3. Dividend:

Six of the 12 stocks in Ashish Dhawan holdings gave dividend yields as of the March 2024 quarter. The quarterly dividend yields were as follows-

Stock	Dividend Yield (%)
Arvind Fashions Limited	0.26
AGI Greenpac Limited	0.84
Quess Corp Limited	1.64
Greenlam Industries Limited	0.27
Glenmark Pharmaceuticals Limited	0.21
Mahindra and Mahindra Financial Services Limited	2.17

Ashish Dhawan Net Worth:

Ashish Dhawan’s net worth for the quarter ending March 2024 was Rs.3454.31 Cr., which is 3.01% lower than the previous quarter. But by the end of the first quarter of FY24-25, on 30th June 2024, the net worth rose by 13.66% to reach Rs.3926.21 Cr. The rise was seen owing to the returns brought in by the top picks of the stock portfolio-

• Glenmark Pharmaceuticals Ltd.- 32.68%
• Mahindra and Mahindra Financial Services Ltd.- 6.85%
• Quess Corp Ltd.- 25.63%

Investment learnings from Ashish Dhawan Portfolio:

With 20 years of experience, Ashish Dhawan portfolio remains strong, even in volatile markets. Here are key lessons from his investment approach:

1. Think Long-Term: 

Ashish Dhawan focuses on the long game. He holds his stocks for many years despite short-term fluctuations. For example, he invested in Mphasis at Rs. 350 per share. When the price dropped sharply to Rs.50, he didn’t panic. Instead, he maintained his belief in the company. Eventually, Mphasis delivered him 5x returns. To build wealth with investment, it is important to understand that while the stock market can be wild in the short run, it tends to rise over the long term.

2. Analyse stocks and their values: 

Dhawan excels at finding bargains. He identifies undervalued stocks – hidden gems cheaper than their substantial intrinsic value. Buying these stocks is like getting a great deal on something valuable. But remember, the core of such deals is detailed research. 

3. Risk Smartly: 

Dhawan is fearless in taking calculated risks. When Max Healthcare’s stock began to fall, he decided to exit and cut his losses without regret. He emphasizes understanding the basics of a company before investing and recognizes that not all trades will yield great returns. 

It’s better to cut losses early than wait for corrections. Dhawan is also open to investing in smaller companies, which can be riskier than larger ones. However, he is cautious and selects companies he believes will perform well in the long run.

4. Diversification:

Dhawan doesn’t put all his eggs in one basket. His portfolio includes a mix of different types of companies and sectors. This diversification helps balance out performance—if one sector isn’t doing well, others can compensate. 

For example, he held six telecom companies and also invested in other sectors. During the Dot Com crash, his telecom stocks suffered, but his investment in SpectraMind delivered attractive returns that offset the losses. Even today, Ashish Dhawan’s portfolio remains a good guide to diversification. 

Conclusion:

Ashish Dhawan is one of the most successful equity investors. Watching his investment moves can teach valuable lessons on selecting stocks and making sound investment decisions. His portfolio shines brightly in the investment world, built through hard work and learning from challenges. His investment strategies offer priceless lessons in-stock selection and wise decision-making. So, after reading about the Ashish Dhawan portfolio, if you’re set to start your own investment journey, seek equity market guidance and learn all about ‘what is stock portfolio’ from SEBI-registered advisors.