Vikas Khemani Portfolio: Latest Holdings
As per shareholding filings for the quarter ended 30 September 2026, Vikas Khemani publicly holds 7 stocks with stakes of 1% or more, worth about ₹1,090 Cr at current prices. There were no new buys this quarter, the stake was raised in 1 and cut in 2.
- Holdings: Sep 2026 quarter filings
- Prices as of 23 Oct 2026
- Only stakes of 1% or more are disclosed
- Also filed as "Vikas Vijaykumar Khemani"
- Disclosed holdings value
- ₹1,090Cr
- Stocks held (1%+)
- 7
- New this quarter
- 0
- Stake raised / cut
- 1 / 2
- Largest holding
- 82.7%PTC Industries
What changed in the Sep 2026 quarter
New buys (0)
No new 1%+ holdings this quarter.
Stake raised (1)
- Supreme Infrastructure India▲ +0.02 pts
Stake cut (2)
- Upsurge Investment & Finance▼ −0.49 pts
- Chemtech Industrial Valves▼ −0.03 pts
Exits
No holding from June dropped out of the filings this quarter.
Below 1% a stake drops out of filings, so a partial sale and a full exit can look the same.
All 7 holdings
| Stock | Stake (Sep 26) | Change vs Jun 26 | Shares held | Value (₹ Cr) | % of portfolio | Try in Kalpi |
|---|---|---|---|---|---|---|
| PTC Industries | 2.57% | No change | 3,85,346 | 901.7 | 82.7% | Backtest PTC Industries |
| Man Industries (India) | 2.39% | No change | 17,91,256 | 134.3 | 12.3% | Backtest Man Industries (India) |
| Capacite Infraprojects | 1.74% | No change | 14,70,000 | 22.0 | 2.0% | Backtest Capacite Infraprojects |
| Salzer Electronics | 1.13% | No change | 2,00,000 | 9.5 | 0.9% | Backtest Salzer Electronics |
| Supreme Infrastructure India | 1.8% | ▲ +0.02 pts | 17,25,328 | 8.5 | 0.8% | Backtest Supreme Infrastructure India |
| Chemtech Industrial Valves | 8.11% | ▼ −0.03 pts | 14,95,066 | 7.5 | 0.7% | Backtest Chemtech Industrial Valves |
| Upsurge Investment & Finance | 5.81% | ▼ −0.49 pts | 12,74,353 | 6.5 | 0.6% | Backtest Upsurge Investment & Finance |
Value = shares held × price on 23 Oct 2026. Change is in percentage points of the company's shares.
Where the money sits: top 7 holdings
PTC Industries is the largest holding at 82.7% of the disclosed value.
Also: Carnelian funds holdings
Carnelian funds hold 12 stocks with stakes of 1% or more, worth about ₹251 Cr; 7 are new this quarter. These belong to the funds' investors, not to Vikas Khemani personally.
| Stock | Stake | Change | Value (₹ Cr) |
|---|---|---|---|
| Man Industries (India) | 1.02% | No change | 57.1 |
| J G Chemicals | 1.69% | No change | 38.2 |
| Crizac | 1.49% | No change | 35.1 |
| Danish Power | 1.29% | New | 21.3 |
| Q-Line Biotech | 1.44% | New | 18.1 |
| Anawil Wire Engineering | 1.8% | New | 17.5 |
| Proventus Agrocom | 2.28% | New | 15.0 |
| Pyramid Technoplast | 2.68% | No change | 13.8 |
| Monte Carlo Fashions | 1.33% | No change | 13.5 |
| Ecoline Exim | 3.14% | New | 11.4 |
| Dhaval Packaging | 3.76% | New | 5.6 |
| Qualiance International | 1.91% | New | 4.4 |
Structural trends, written as rules
Carnelian's funds are built around long-term structural themes. Turn a theme into rules (sector, growth, size) and backtest it before investing.
Backtest results are hypothetical and do not predict future returns.
Who is Vikas Khemani?
Vikas Khemani is the founder of Carnelian Asset Management, which runs portfolio management and alternative investment funds. He is a chartered accountant, CFA and company secretary.
Sources: Plaksha University profile; CFA Society India; PMS AIF World.
How to read this data
- Companies disclose shareholders who own 1% or more, once a quarter. Smaller stakes stay hidden.
- Filings come out up to three weeks after the quarter ends, so trades can be months old.
- Holdings filed in their own name are shown. Holdings of companies or funds they manage are not, unless stated.
- This page reports public filings. It is not a recommendation to buy or sell.
Frequently Asked Questions
What is Vikas Khemani's current portfolio?
As per filings for the quarter ended 30 September 2026, Vikas Khemani publicly holds 7 stocks with stakes of 1% or more, worth about ₹1,090 Cr at current prices. The largest are PTC Industries, Man Industries (India), Capacite Infraprojects, Salzer Electronics and Supreme Infrastructure India.
What are Vikas Khemani's top holdings?
By value: PTC Industries (₹902 Cr, 2.57% of the company); Man Industries (India) (₹134 Cr, 2.39% of the company); Capacite Infraprojects (₹22.0 Cr, 1.74% of the company); Salzer Electronics (₹9.5 Cr, 1.13% of the company); Supreme Infrastructure India (₹8.5 Cr, 1.8% of the company).
Which stocks did Vikas Khemani buy recently?
The stake was raised in Supreme Infrastructure India. Filings show holdings at the end of the quarter, so the buying may have happened any time between July and September 2026.
Which stocks did Vikas Khemani sell?
The stake was cut in 2 companies, including Upsurge Investment & Finance and Chemtech Industrial Valves.
What is Vikas Khemani's net worth?
Total net worth is not public. What can be measured is the value of stakes of 1% or more in listed companies: about ₹1,090 Cr across 7 stocks at current prices. Smaller stakes, unlisted investments and money held through companies or funds are not included.
Who is Vikas Khemani?
Vikas Khemani is the founder of Carnelian Asset Management, which runs portfolio management and alternative investment funds. He is a chartered accountant, CFA and company secretary.
Why are some stocks missing from this list?
Companies only name shareholders who own 1% or more. If the stake is below 1%, or has been sold below that level, the stock does not appear. The list updates once a quarter, when companies file their shareholding patterns.
Should I buy the stocks Vikas Khemani holds?
This page reports public filings and is not a recommendation. Filings arrive weeks after the trades and do not show buying prices or reasons. A safer approach is to test a written set of rules on past data before investing, and to speak to a SEBI-registered adviser if you need advice.
Data compiled from shareholding patterns filed by listed companies with NSE and BSE for the quarter ended 30 September 2026. Prices as of 23 Oct 2026. Kalpi is not a SEBI-registered investment adviser; nothing on this page is investment advice or a recommendation to buy or sell. Investments in securities are subject to market risks.