Sunil Singhania is recognized as one of India’s top stock market investors, with an impressive and publicly available track record. He graduated in commerce from Bombay University and completed his Chartered Accountancy at the Institute of Chartered Accountants of India (ICAI) in Delhi, achieving an all-India rank. Additionally, he holds the Chartered Financial Analyst (CFA) credentials from the CFA Institute. Here, we explore Sunil Singhania net worth, portfolio, investing style, and more.
Sunil was the promoter of The Association of NSE Members of India; a body of stockbrokers. He also sat on the Standards and Practice Council of the CFA Institute, USA, for 6 years. Sunil was the founder of the Indian Association of Investment Professionals, the CFA India Society, and was its president for a continuous period of eight years.
Sunil Singhania was the promoter of The Association of NSE Members of India, representing stockbrokers, and served on the Standards and Practice Council of the CFA Institute in the USA for six years. Additionally, he founded the Indian Association of Investment Professionals (now known as CFA Society India) and held the presidency for eight consecutive years. These roles reflect his commitment to enhancing professional standards and practices within the investment community.
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Sunil Singhania’s Investment Journey
Sunil Singhania is the founder of Abakkus Asset Manager LLP, an asset management firm focused on India that he established in 2018. Previously, he served as the Global Head of Equities at Reliance Capital Limited, where he oversaw equity assets and provided strategic inputs across the Reliance Capital Group, including asset management, insurance, alternative investment funds (AIF), and offshore assets. As the Chief Investment Officer of Equities, he led Reliance Mutual Fund (now Nippon India Mutual Fund) equity schemes to achieve top ratings. Under his leadership, the Reliance Growth Fund grew over 100 times in less than 22 years.
He also led Reliance Nippon Life Asset Management’s international efforts and played a key role in launching India funds in Japan, South Korea, and the UK, in addition to managing mandates from institutional investors based in the US, Singapore, and other countries.
What is Abakkus Asset Manager?
Abakkus is an alpha-focused asset management firm managing over INR 15,500 crores in listed Indian equities. It is a professionally run asset manager with a highly experienced team that strives to generate alpha through strict adherence to processes, frameworks, and discipline.
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Sunil Singhania Portfolio 2024 – Top Holdings
| Company | Shares held | Stock price (INR) | Value (INR crore) |
| IIFL Securities Ltd. | 8,941,386 | 379.60 | 339.4 |
| Sarda Energy & Minerals | 6,643,919 | 465.65 | 309.4 |
| The Anup Engineering Ltd. | 762,370 | 3,620.95 | 276.1 |
| Mastek Ltd. | 889,334 | 2,958.80 | 263.1 |
| Jubilant Pharmova | 1,909,849 | 1,229.40 | 234.8 |
| ION Exchange (India) | 2,854,982 | 676.20 | 193.1 |
| Technocraft Industries (India) | 530,315 | 3,044.40 | 161.4 |
| Dynamatic Technologies Ltd. | 199,728 | 7,285.10 | 145.5 |
| J Kumar Infraprojects | 1,900,000 | 753.50 | 143.2 |
| Carysil Ltd. | 1,536,683 | 777.45 | 119.5 |
| HG Infra Engineering | 865,591 | 1,280.05 | 110.8 |
| Shriram Pistons & Rings Ltd. | 515,450 | 2,002.80 | 103.2 |
| Stylam Industries | 423,790 | 2,217.90 | 94.0 |
| Hindware Home Innovation | 3,218,841 | 283.00 | 91.1 |
| Rupa & Company | 3,335,000 | 272.00 | 90.7 |
| Ethos Ltd. | 270,000 | 2,889.20 | 78.0 |
| HIL Ltd. | 242,000 | 2,500.90 | 60.5 |
| Siyaram Silk Mills | 722,654 | 707.50 | 51.1 |
| ADF Foods Ltd. | 1,686,435 | 292.80 | 49.4 |
| DCM Shriram Industries Ltd. | 2,490,000 | 193.01 | 48.1 |
| Uniparts India Ltd. | 817,689 | 439.65 | 35.9 |
| TTK Healthcare Ltd. | 159,585 | 1,524.15 | 24.3 |
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Sunil Singhania Portfolio
As of September 2024, Sunil Singhania’s investment portfolio exhibits notable changes when compared to the previous year, September 2023. His holding in Mastek Ltd. has decreased slightly, now valued at INR 263.1 crore, representing 3.0% of his portfolio, down from 3.2% in September 2023. In contrast, J Kumar Infraprojects remains stable at INR 143.2 crore, holding steady at 2.6%, unchanged from the previous year.
Ion Exchange (India) has seen a decline in its percentage from 3.3% to 2.0%, despite maintaining a holding value of INR 193.1 crore. The performance of Hindware Home Innovation remains relatively stable with a value of INR 91.1 crore, now at 4.5%, slightly down from 4.9% in September 2023.
Overall, Singhania’s portfolio reflects a mix of stability and minor adjustments as he continues to navigate market conditions between September 2023 and September 2024, with significant holdings remaining consistent while others have experienced slight fluctuations in their respective values and percentages.
Sunil Singhania latest pick
Sunil Singhania’s latest investment pick emphasizes a strategic approach to stock selection, focusing on companies that have the potential to double in value over the next five years. He advises investors to maintain moderate return expectations and to look for stocks with strong fundamentals and growth potential. His insights suggest a preference for quality businesses that can sustain growth in various market conditions.
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Sunil Singhania’s Investment Philosophy
Sunil Singhania portfolio is based on the MEETS framework. The term MEETS stands for Management, Earnings, Events or Trends, Timing, and Structure. These individual elements of the philosophy are explained in detail here.
Management –
- Quality – Capability and track record
- Capital Allocation – capex is fine if ROE is maintained or enhanced
- Capital Distribution – fair to minority shareholders
- Error in decision – Business errors vs intentional mishaps
Earnings –
- Quality of earnings vs reported numbers
- Actual earnings vs expected
- Cyclical vs Structural earnings
- Companies that can double profits in 4 years or less or where EV/EBITDA can halve in four years
Events –
- Stock movement because of events
- Can be a Buy or Sell opportunity
- Events on the horizon
- Disruptive trends/New themes
Timings –
- A good company is not necessarily a good investment if the price is not right
- What is the price discounting
- The time frame of investment
- Mean Reversion
Structure –
- Size of the opportunity
- Competitive positioning / MOAT
- Consistent growth in profits
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Sunil Singhania Net Worth
According to corporate reports filed for the September 2024 quarter, Sunil Singhania net worth from the equity investments was around INR 3,022.6 crore. Needless to say, this net worth keeps changing based on stock price fluctuations.
As of the date of writing this article, Sunil Singhania net worth tied to the stock market was largely divided into 22 stocks with an average shareholding of INR 137.4 crore.
