Home / Business and Economy / Dolly Khanna Exits 3 Stocks: What Investors Missed
Dolly Khanna Exits 3 Stocks: What Investors Missed
25 Jun
Summary
- Investor Dolly Khanna reduced holdings below 1% in three stocks.
- GHCL's sales and profits declined amid a falling soda ash price cycle.
- IFB Agro and KCP Sugar also showed financial weaknesses, prompting exits.
Investor Dolly Khanna has reduced her stakes in GHCL, IFB Agro Industries, and KCP Sugar, with her holdings in each now below the 1% disclosure threshold as of the March 2026 filings. GHCL, a soda ash manufacturer, has experienced declining sales for three consecutive years, falling from Rs 4,545 cr in FY23 to Rs 3,064 cr in FY26, with net profit halving to Rs 472 cr. Its Return on Capital Employed (ROCE) also dropped to approximately 17% in FY26.
IFB Agro Industries, involved in industrial alcohol and liquor, saw Khanna exit within a single quarter. The company's share price surged to Rs 1,795 in January 2026 before crashing to Rs 898 by June 24, 2026. Despite a profit revival in FY26, its ROCE and Return on Equity (ROE) remained low at around 13% and 9%, respectively.
KCP Sugar, dealing in sugar and ethanol, reported an operating profit of only Rs 1 cr on Rs 260 cr sales in FY26, with its core operations barely breaking even. Its profits have heavily relied on external income rather than core business activities, leading to a low ROCE of about 4% and ROE under 3%.
These strategic exits by Dolly Khanna offer a cautionary lesson for retail investors. They underscore the importance of scrutinizing financial fundamentals, such as falling sales, thin returns, and reliance on non-core income, rather than merely following prominent investors. Understanding the reasons behind an investor's departure is crucial for informed investment decisions.
