Synopsis: Nikhil Kamath’s This autumn portfolio includes three key listed holdings, Nazara Applied sciences Ltd, Ather Power Ltd, and Bluestone Jewelry & Way of life Ltd, held by means of Kamath Associates and Nksquared as of March 2025, reflecting a diversified funding unfold throughout gaming, electrical mobility, and way of life segments.
Nikhil Kamath is an Indian entrepreneur and co-founder of Zerodha, India’s main inventory buying and selling platform, alongside along with his brother Nithin Kamath. They’re famend for revolutionising buying and selling in India with low-cost, technology-driven options and have additionally invested in a number of startups and unicorns.
As per company shareholdings filed for March 31, 2026, individuals matching Kamath Associates publicly maintain 3 shares with a internet price of over Rs 817.3 Crores. Let’s take a more in-depth have a look at how the three listed shares held by them have carried out in This autumn. Throughout this era, a few of his main investments confirmed good development, gaining worth and giving optimistic returns. General, his portfolio displays a balanced strategy, the place he focuses on selecting shares with robust potential whereas managing dangers fastidiously.
Nazara Applied sciences is an Indian gaming and sports activities media firm based in 1999 and headquartered in Mumbai. It’s extensively often known as India’s first publicly listed gaming firm, with companies spanning cell gaming, esports, gamified studying, and digital sports activities media.
The corporate owns and operates fashionable manufacturers equivalent to NODWIN Gaming, Sportskeeda, Kiddopia, and World Cricket Championship, whereas additionally increasing internationally throughout North America, Africa, and the Center East.
Effectively-known personalities and co-founders of the main low cost brokerage app Zerodha, Nikhil Kamath and Nithin Kamath, maintain roughly 1.62% stake within the firm by means of their funding physique, Kamath Associates, whereas their different funding entity, Nksquared, holds round 1.89% as of March 2026.
This autumn Efficiency
Its income from operations decreased by 23.46 p.c YoY from Rs. 520 Crores in Q4FY25 to Rs. 398 Crores in Q4FY26, and it additionally declined by 1.97 p.c QoQ from Rs. 406 Crores in Q3FY26 to Rs. 398 Crores in Q4FY26.
Its internet revenue elevated by 1300 p.c YoY from Rs. 4 Crores in Q4FY25 to Rs. 56 Crores in Q4FY26, and it rose by 522.22 p.c QoQ from Rs. 9 Crores in Q3FY26 to Rs. 56 Crores in Q4FY26. The earnings per share (EPS) for the quarterly interval stood at Rs. 1.27, in comparison with Rs. 0.18 within the earlier yr’s quarter.
Ather Power Ltd
Ather Power Ltd is an Indian electrical automobile (EV) firm that designs and manufactures good electrical scooters. It was based in 2013 by IIT Madras alumni and is headquartered in Bengaluru, Karnataka. The corporate is finest identified for its Ather 450 collection scooters, which mix performance-focused electrical mobility with linked software program options like navigation, trip analytics, and over-the-air updates.
Ather additionally constructed its personal charging infrastructure referred to as Ather Grid, aimed toward making city EV charging extra accessible. It’s backed by main traders, together with Hero MotoCorp, and it focuses on constructing a whole EV ecosystem relatively than simply autos. The model has positioned itself as a premium participant in India’s fast-growing electrical two-wheeler market.
Effectively-known personalities and co-founders of the main low cost brokerage app Zerodha, Nikhil Kamath and Nithin Kamath, maintain roughly 1.54% stake within the firm by means of their funding physique, Kamath Associates, whereas their different funding entity, Nksquared, holds round 1.54% as of March 2026.
This autumn Efficiency
Its Income from operations rose by 73.8 p.c YoY from Rs. 676 Crores in Q4FY25 to Rs. 1,175 Crores in Q4FY26, and it rose by 23.1 p.c QoQ from Rs. 954 Crores in Q3FY26 to Rs. 1,175 Crores in Q4FY26.
Its Web loss YoY decreased from Rs. 234 Crores in Q4FY25 to Rs. 100 Crores in Q4FY26, and on a QoQ foundation, it elevated from Rs. 84.6 Crores in Q3FY26 to Rs. 100 Crores in Q4FY26. The earnings per share (EPS) for the quarterly interval stood at minus Rs. 2.62, in comparison with minus Rs. 8.06 within the earlier yr’s quarter.
The FY 26 was a breakthrough yr for the community and model, marked by robust development in buyer traction and operational scale. Month-to-month registrations reached 35.7K in March’26, reflecting sustained demand momentum throughout markets.
Monetary and market efficiency additionally improved sharply, with a market share rising to 18.6%, up 2,080 bps YoY, alongside a acquire of 1,100 bps versus Q1 FY 25. Wholesale volumes touched 83K in This autumn, rising 76% YoY and 23% QoQ, whereas the model emerged because the #1 searched EV model in This autumn FY 26.
Bluestone Jewelry & Way of life Ltd
Bluestone Jewelry & Way of life Ltd is an Indian omnichannel jewelry model that designs, manufactures, and sells diamond, gold, and gemstone jewelry. Based in 2011 and headquartered in Bengaluru, it began as an online-first platform and later expanded into bodily retail shops throughout main Indian cities.
The corporate focuses on fashionable, design-led jewelry aimed toward city customers, with customisation choices and a powerful emphasis on licensed diamonds and high quality assurance. Bluestone operates a hybrid mannequin that mixes its e-commerce platform with experience-driven offline showrooms, permitting clients to browse on-line and full purchases in-store or vice versa.
Nikhil Kamath and Nithin Kamath maintain roughly 1.09% stake within the firm by means of their funding physique, Kamath Associates, whereas their different funding entity, Nksquared, holds round 1.09% as of March 2026.
This autumn Efficiency
Its income from operations elevated by 47.72 p.c YoY from Rs. 461 Crores in Q4FY25 to Rs. 681 Crores in Q4FY26, and it declined by 9.08 p.c QoQ from Rs. 749 Crores in Q3FY26 to Rs. 681 Crores in Q4FY26.
Its internet revenue improved considerably YoY, shifting from a lack of Rs. 51 Crores in Q4FY25 to a revenue of Rs. 31 Crores in Q4FY26 (an enchancment of Rs. 82 Crores). On a QoQ foundation, internet revenue declined by 55.07 p.c from Rs. 69 Crores in Q3FY26 to Rs. 31 Crores in Q4FY26.
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