Ashish Kacholia buys Lokesh Machines - A Multibagger in Making??

According to the latest share holding pattern, Lokesh Machines is blessed with the entry of our Master Portfolio Member, Ashish Kacholia. The share holding pattern says that Ashish Kacholia is holding a major chunk of Lokesh Machines. In 30th March 2015, an extra ordinary general meeting was held and as an outcome , company decided to allocate 10,00,000 shares to the legendary investor Ashish Kacholia at a rate of Rs. 50. This comes to an investment amount of Rs.5 crores. Along with that company also allotted 60,000 shares as warrants. Company  stated that the amount will be used to reduce its existing debts and to meet the working capital requirements.

About Lokesh Machines

• LOKESH MACHINES LIMITED WAS INCORPORATED ON 17 DEC 1983 AND STARTED COMMERCIAL OPERATIONS IN 1985 AT HYDERABAD.
• PRESENTLY LOKESH IS OPERATING FROM FIVE LOCATIONS IN HYDERABAD AND PUNE
• LOKESH IS A LEADER IN CAM & CRANK BORERS, FINE BORERS & FINISH MILLING MACHINES
• LOKESH RANKS AMONGST THE TOP FIVE MACHINE TOOL MANUFACTURERS IN THE COUNTRY
• THE LATEST ACHIEVEMENT IS SUPPLY OF COMPLETE RANGE OF SPECIAL PURPOSE MACHINES TO MACHINE EURO VI COMPLIANT ENGINE CYLINDER BLOCKS & HEADS MANUFACTURING LINE TO VOLVO EICHER COMMERCIAL VEHICLES LTD

Lokesh Machines Financials

The current financials are not so encouraging for and entry but we think that the last point mentioned, volvo deal,  is the main reason for Ashish Kacholia entry into this stock. Currently the stock is about to touch Rs. 100, which makes Ashish Kacholia richer by another 5 crores for his initial investment of 5 crores in just 3 months time. Lets wait and see if more steam is left with Lokesh!!

Please visit the page for latest shareholdings of Ashish Kacholia