Stocks to keep an eye on in 2025, suggested by Ashish Kacholia as potential multibaggers

In the dynamic world of Indian stock markets, the name Ashish Kacholia continues to stand out. Known as the Big Whale, Kacholia co-founded Hungama Digital with Rakesh Jhunjhunwala in 1999 and began building his own portfolio in 2003. His expertise in finding multibaggers in their early stages has earned him the title of one of India's Warren Buffetts.

One of Kacholia's recent investments is in Z-Tech (India) Ltd, a company incorporated in 1994. Z-Tech is in the business of design, development, and operations of theme-based city parks, industrial wastewater management, and specialized geotechnical solutions. The company's net profits have seen a significant growth, going from Rs 1 crore in FY21 to Rs 20 crore in FY25, representing a compounded growth of 112%. The EBITDA of Z-Tech grew even more, from Rs 1 crore in FY21 to Rs 28 crore in FY25, logging in a compound growth of 130%.

However, the company reported sharply lower profits for the quarter ending March 2025, compared to the same period prior year. Despite this, the share price of Z-Tech climbed from its June 2024 listing price of around Rs 115 to its current price of Rs 517 as of 29 August 2025, which is a jump of 350%. The current Return on Capital Employed (ROCE) of Z-Tech is 29%, while the industry median is 19%.

Another company in Kacholia's portfolio is Vasa Denticity Limited, incorporated in 2016. Vasa Denticity is in the business of marketing and distribution of dental products. The company's sales have seen a compounded growth of 52% in the last 5 years from Rs 30 crore in FY20 to Rs 249 crore in FY25. Ashish Kacholia holds a 3.7% stake in Vasa Denticity worth Rs 38 crore.

However, for the quarter ending March 2025, the profits of Vasa Denticity were lower than the same period prior year. The company's share is trading at a Price to Earnings (PE) ratio of 37x, which is higher than the current industry median of 24x. The share price of Vasa Denticity was around Rs 221 when it was listed in June 2023 and as of 29 August 2025, it was Rs 625, which is a jump of about 183%.

Kacholia, who started his career with Prime Securities and later joined Edelweiss before incorporating Lucky Securities in 1995, is currently invested in companies like Ashok Leyland, Solara Active Pharma Sciences, and Cera Sanitaryware. Key stock purchases were made mostly between 2018 and 2023 to benefit from their growth and improving earnings. As of now, Kacholia's portfolio is worth almost Rs 2,760 crore, with 49 stocks in it.

In conclusion, Ashish Kacholia's investments in Z-Tech (India) Ltd and Vasa Denticity Limited reflect his knack for identifying promising companies. Despite the recent dip in profits for both companies, their growth trajectory and Kacholia's continued investment suggest a positive outlook. However, as with any investment, it's important for investors to conduct their own due diligence and consider their risk tolerance before making decisions.

Stocks to keep an eye on in 2025, suggested by Ashish Kacholia as potential multibaggers