Last Updated on Aug 2, 2023 by Anjali Chourasiya
Look up the richest businessmen in India, and Radhakishan Damani’s name would pop up right around the top of the list. Touted to be the 8th richest man in India, Radhakishan Damani is the retail magnate of the country. He is a renowned retail entrepreneur and a successful value investor in India. A college drop-out, Damani started his business and then ventured into stockbroking. His journey has been nothing but inspiring.
Considered a mentor by Rakesh Jhunjhunwala, here’s a detailed look at Radhakishan Damani’s portfolio, shareholdings, net worth and journey.
Table of Contents
Radhakishan Damani portfolio
Stock name | Holding value (Rs. in cr.) | Quantity held | June 2023 holdings in % | March 2023 holdings in % | December 2022 holdings in % |
Avenue Supermarts Ltd | 1,63,617.40 | 43,74,44,720 | 67.20% | 67.50% | 67.50% |
VST Industries Ltd | 1,816.50 | 47,41,720 | 30.70% | 30.70% | 30.70% |
India Cements Ltd | 1,409.00 | 6,43,98,190 | 20.80% | 20.80% | 20.80% |
Advani Hotels and Resorts (India) Ltd | 17.70 | 19,30,009 | 4.20% | 4.20% | 4.20% |
Aptech Ltd | 42.70 | 12,55,227 | 3.00% | 3.00% | 3.00% |
Sundaram Finance Ltd | 688.10 | 26,30,434 | 2.40% | 2.40% | 2.40% |
Mangalam Organics Ltd | 8.60 | 1,86,187 | 2.20% | 2.20% | 2.20% |
Sundaram Finance Holdings Ltd | 52.30 | 41,70,434 | 1.90% | 1.90% | 1.90% |
3M India Ltd | 476.60 | 1,66,700 | 1.50% | 1.50% | 1.50% |
Trent Ltd | 925.70 | 54,21,131 | 1.50% | 1.50% | 1.50% |
Blue Dart Express Ltd | 202.80 | 3,06,770 | 1.30% | 1.30% | 1.30% |
Andhra Paper Ltd | 21.50 | 4,99,296 | 1.30% | 1.30% | 1.30% |
United Breweries Ltd | 508.60 | 31,95,834 | 1.20% | 1.20% | 1.20% |
BF Utilities Ltd | 14.90 | 3,81,000 | 1.00% | 1.00% | 1.00% |
RK Damani portfolio analysis
One significant change in the quarter ending June 2023 is that Radhakishan Damani reduced his stake in his own company by 0.30%. Apart from this, there is no notable change in his portfolio in comparison to the last quarter. Now, let’s dive deeper into his net worth, journey and personality.
Radhakishan Damani’s net worth 2023
As of July 2023, Radhakishan Damani’s net worth is estimated at over Rs. 1,69,802.5 cr. Below is the trend of Radhakishan Damani’s net worth from December 2015 to August 2023. RK Damani’s net worth increased significantly due to Avenue Supermart IPO, even though the company only began trading on stock exchanges in 2017.
RK Damani’s Bulk and Block deals
For the quarter March-June 2023, Radhakishan Damani has carried out no Bulk and Block Deals. You can use Tickertape’s Stock Deals tool to analyse Dhawan’s bulk and block deals for different periods. You can also use the tool to analyse the insider trades of big investors. This helps you gauge their outlook on the company and analyse their portfolio.
About RK Damani
RK Damani was born to Marwadi parents in 1954. Business came naturally to him, dropping his B.com half to start his trading business. Very soon, RK Damani realised that to earn larger profits, he’d need to shift from just being a stockbroker to a full-time trader. But before getting into the stock world, RK was engaged in the ball-bearing business. His journey in the stock market began at the age of 32.
After investing his money in the stock market, he became an active trader and used profitable strategies to create a solid portfolio. He used the swing trading strategy to mint profits from stock trading.
In 1992, when the Harshad Mehta scam rocked the stock market, RK Damani was engaged in short-selling, earning him considerable profits. He stood out from the rest of the traders because short-selling was not in style in those days.
Chandrakant Sampat, a leading investor, then influenced RK Damani, and he adopted the long-term strategy of value investing. He bought and held multibagger stocks, which gave him attractive returns on investments. The Radhakishan Damani portfolio, thus, started growing steadily.
At the peak of his success in the markets, Damani suddenly quit the world of stock trading with a decision to enter the retail industry. This step would change not just Damani’s life but also the retail sector’s.
Key milestones
1956: Radhakishan Damani was born in the Indian city of Mumbai.
1995: Became the largest individual shareholder in HDFC Bank.
2000: Exits the stock market and begins working on his retail business.
2002: Founded Avenue Supermarkets.
2002: Established his first DMart store in Mumbai.
2010: DMart operates 25 stores under the DMart brand.
2016: 21 new DMart locations opened.
2017: Avenue Supermarts jumps 106% over IPO price in Mumbai debut.
2017: Avenue Supermarket is publicly listed in India, marking huge success.
The D-Mart journey
RK Damani started his stint in entrepreneurship through FMCG retail segment. In the year 1999, he managed the Apna Bazaar franchise. However, he did not believe in the business structure and wanted to start his own venture.
This laid the foundation of D-Mart under the parent company Avenue Supermarts. The first D-Mart store was launched in 2002 in Powai, Mumbai. It became a success; by 2010, D-Mart had 25 chain stores. Given the low pricing that catered to everyone’s needs, the D-Mart chains multiplied.
This triumph dates to 2017, as DMart launched its initial public offering (IPO) and became a monumental success listing Avenue Supermarts on the NSE and BSE exchanges. Offered at a price of Rs. 299 per share, the IPO was listed at Rs. 604, being massively oversubscribed. The end of that year also saw the company become the most expensive retail stock globally based on various financial metrics.
Today, D-Mart has 234 stores across Maharashtra, Gujarat, Delhi NCR, Chhattisgarh, Madhya Pradesh, Telangana, Rajasthan, Andhra Pradesh, Punjab, Tamil Nadu, Daman and Diu, and Karnataka. In FY 2022-2023, the D-Mart chain generated total revenue of Rs. 41,996 34 cr., a 31.73% increase from the last fiscal year. As of 1st August 2023, the shares of D-Mart were trading at Rs. 3,740.30, a 124.01% increase in the last 5 yr on the NSE.
Investment lessons from RK Damani
Every great investor and businessman has a few lessons to give to prospective investors. Here are a few lessons that you can take from RK Damani’s life:
Stake your own money to reap rewards
The switch from a stockbroker to a stock trader underlines that RK Damani believed in staking his own money to make gains. Investing your own money raises the stakes as you are careful not to lose your hard-earned savings. So, if you want the stock market to work for you, invest your money in quality stocks.
Don’t follow the herd mentality
While others did not practice swing trading, RK Damani did, which helped him grow his portfolio in earlier days. The lesson here is to avoid herd mentality. What others are doing might not always be conducive to your investments. Understand the market, develop your own investment strategy and be different from other investors.
Believe in your business
Though RK Damani made D-Mart public, he did not relinquish his stake in the company. He still owns a major part of the business, believing in his business model. This teaches you to believe in your decisions and stick to them consistently, no matter what the condition of the market may seem like.
Have a long-term outlook
Since the last couple of decades, RK Damani has become a firm believer in the long-term investment strategy. He maintains his portfolio and does not make considerable changes to it. You also need to have this long-term outlook if you want to earn attractive returns and grow your portfolio.
Conclusion
One does not have to be born rich to become a millionaire. The life and investment journey of Radhakishan Damani is a leading testament to this fact. Born in a modest family, RK Damani did not have the proverbial silver spoon. Yet, with a smart investment strategy and a good business model, he charted his journey to reach the pinnacle of success. As of 2nd August 2023, his net worth is estimated at over Rs. 1,69,802.5 cr. He was also never afraid of taking big decisions or switching fields. You can also take a leaf out of RK Damani’s life and make your money work for you.
Frequently asked questions (FAQs)
Who is the owner of DMart?
Indian renowned businessman and billionaire Radhakishan Damani is the founder of DMart (Avenue Supermarts Limited). RK Damani is a successful retail entrepreneur and value investor as well.
Who is Radhakishan Damani?
The DMart founder is also a famous stock market personality in India. Damani was a college dropout who started a ball-bearing business. He became a SEBI-registered stockbroker in 1989 after establishing his own investment firm called BrightStar. He then transitioned to a full-time trader to earn more profits. RK Damani gained profit by short-selling stocks Harshad Mehta had inflated in the 1990s.
What is Radhakishan Damani’s net worth?
As of June 2023, Radhakishan Damani Portfolio Holding’s net worth is estimated at over Rs. 1,69,802.5 cr.
What is the full form DMart?
Dmart stands for Damani Mart. Dmart is based on Radhakrishna Damani’s surname.
When did Radhakishan Damani start his investment journey?
RK Damani started his investment journey at the age of 32 after quitting his ball-bearing business.
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