Synopsis: Madhusudan Kela’s top holdings delivered a strong Q4FY26 performance, with companies such as Choice International, Sangam India, and others reporting robust revenue growth, improved profitability, and notable turnarounds, reinforcing the strength of his investment portfolio.
Ace investor Madhusudan Kela, who publicly holds 19 stocks worth over Rs. 2,312.9 crore, has significant exposure to sectors such as financial services, capital markets, industrial machinery, investment management, textiles, and packaged foods. Several of his key holdings reported strong Q4FY26 results, driven by healthy revenue growth, margin expansion, and notable profit turnarounds.
Choice International Ltd
Choice International is a diversified Indian financial services company offering stock broking, investment banking, wealth management, insurance distribution, lending, and advisory services. Through its subsidiaries and digital platforms, the company serves retail, institutional, and corporate clients across India.
With a market capitalisation of Rs. 14,992 cr, the shares of Choice International Ltd closed at Rs. 673 per share, up from its previous close of Rs. 656.70 per share. As of Q4FY26, ace investor Madhusudan Kela holds a 7.21% stake in the company, valued at approximately Rs. 1,081.3 crore.
It reported healthy growth in March 2026. Revenue increased 21% YoY to Rs. 307 crore from Rs. 253 crore in March 2025, while EBITDA rose 20% YoY to Rs. 116 crore from Rs. 96.2 crore. Net profit grew 27% YoY to Rs. 67.8 crore compared to Rs. 53.5 crore in the year-ago period, with EPS increasing 5% to Rs. 2.71 from Rs. 2.59.
Windsor Machines Ltd
Windsor Machines is one of India’s established manufacturers of plastics processing machinery, particularly injection molding machines, extrusion systems, and related equipment. The company caters to industries such as packaging, automotive, consumer goods, and infrastructure.
With a market capitalisation of Rs. 2,885 cr, the shares of Windsor Machines Ltd closed at Rs. 326 per share, up from its previous close of Rs. 318.45 per share. As of Q4FY26, ace investor Madhusudan Kela holds a 7.36% stake in the company, valued at approximately Rs. 211.5 crore.
It reported a strong turnaround in March 2026. Revenue surged 53% YoY to Rs. 185 crore from Rs. 121 crore in March 2025, while EBITDA remained flat at Rs. 11 crore. The company posted a net profit of Rs. 7.24 crore compared to a net loss of Rs. 4.14 crore in the year-ago period, reflecting a significant improvement in profitability. EPS also turned positive to Rs. 0.82 from a loss per share of Rs. 0.49.
MKVentures Capital Ltd
MKVentures Capital is an investment-focused company engaged primarily in capital allocation across listed equities, private investments, and other financial assets. The company is known for its value-oriented investment approach and seeks long-term capital appreciation through disciplined portfolio management.
With a market capitalisation of Rs. 366 cr, the shares of MKVentures Capital Ltd closed at Rs. 953 per share, up from its previous close of Rs. 903.40 per share. As of Q4FY26, ace investor Madhusudan Kela holds a 74.36% stake in the company, valued at approximately Rs. 272.4 crore.
It reported a turnaround in March 2026 despite lower revenue. Sales declined 21% YoY to Rs. 2.28 crore from Rs. 2.88 crore in March 2025. However, EBITDA turned positive to Rs. 0.65 crore compared to a loss of Rs. 6.64 crore in the year-ago period. The company also reported a net profit of Rs. 0.47 crore against a net loss of Rs. 5.30 crore in Q4FY25, while EPS improved to Rs. 1.22 from a loss per share of Rs. 13.79.
Sangam (India) Ltd
Sangam (India) is a leading textile company engaged in the manufacturing of polyester-viscose, cotton, and blended yarns, fabrics, and ready-to-stitch garments. Based in Rajasthan, the company operates an integrated textile value chain and markets products under well-known brands such as Sangam Suitings.
With a market capitalisation of Rs. 2,724 cr, the shares of Sangam (India) Ltd closed at Rs. 542.25 per share, up from its previous close of Rs. 526.15 per share. As of Q4FY26, ace investor Madhusudan Kela holds a 4.86% stake in the company, valued at approximately Rs. 132.5 crore.
It reported a strong performance in March 2026. Revenue increased 19% YoY to Rs. 866 crore from Rs. 725 crore in March 2025, while EBITDA surged 86% YoY to Rs. 99.3 crore from Rs. 53.4 crore. Net profit jumped 258% YoY to Rs. 33.6 crore compared to Rs. 9.37 crore in the year-ago period, with EPS rising 258% to Rs. 7.45 from Rs. 2.08.
Prataap Snacks Ltd
Prataap Snacks is a prominent Indian packaged food company best known for its Yellow Diamond brand of chips, extruded snacks, namkeens, and sweet treats. The company has built a strong distribution network across urban and rural markets and competes with major national and regional snack brands.
With a market capitalisation of Rs. 2,677 cr, the shares of Prataap Snacks Ltd closed at Rs. 1120 per share, down from its previous close of Rs. 1,125.10 per share. As of Q4FY26, ace investor Madhusudan Kela holds a 4.6% stake in the company, valued at approximately Rs. 123.4 crore.
It reported an improved performance in March 2026. Revenue increased 5% YoY to Rs. 420 crore from Rs. 401 crore in March 2025, while EBITDA surged 319% YoY to Rs. 20.6 crore from Rs. 4.92 crore. The company reported a net profit of Rs. 1.14 crore compared to a net loss of Rs. 11.9 crore in the year-ago period, reflecting a turnaround in profitability. EPS also turned positive to Rs. 0.48 from a loss per share of Rs. 5.00.
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