According to reports from The Financial Express, Rakesh Jhunjhunwala's family portfolio, managed by wife Rekha Jhunjhunwala, now holds 27 stocks worth over ₹63,300 crore as of September 2026 shareholding filings. The portfolio's concentration is remarkable, with two stocks accounting for over ₹37,850 crore, representing 60% of the total portfolio value. This concentration reflects the family's focus on companies that have consistently outperformed on return on capital employed (ROCE) metrics over the past five years.
As reported by The Financial Express, Titan Company represents the larger of the two holdings, with the family owning 4.7 crore shares (5.3% stake) worth over ₹22,730 crore. The company's market capitalization stands at ₹4,28,938 crore, making it a significant component of the portfolio. Titan announced dividends of approximately ₹1,335 crore for FY26, translating to nearly ₹15 per share, generating nearly ₹71 crore annually for the family stake. The company has expanded internationally, completing the purchase of 67% of Damas jewellery business in the UAE in February 2026 and establishing a wholly owned subsidiary in Canada in October 2026.
According to The Financial Express, IKS Health (Inventurus Knowledge Solutions) represents the second major holding, with the family controlling 49.3% of the company through three trusts named after their children. The company, which runs back-office services for doctors and hospitals in the US, has a market capitalization of ₹30,443 crore and trades at a PE ratio of 39x against an industry PE of 21x. In April 2026, IKS agreed to acquire TruBridge, a US company running software and billing for rural hospitals, with the deal valued at up to USD 565 million, requiring financing of up to USD 635 million.
As reported by The Financial Express, both companies have demonstrated strong ROCE performance historically, with Titan achieving 32% ROCE in FY26 and IKS maintaining 32% ROCE despite some decline from previous peaks. However, Titan's ROCE has dropped below the industry median of 22%, while IKS maintains a significant margin over the 20% industry benchmark. The analysis reveals that both companies have taken on substantial debt to fund international expansion, with Titan's borrowings increasing from ₹5,638 crore in FY21 to ₹30,621 crore in FY26, representing over five times growth, while IKS had total borrowings of just ₹753 crore in March 2026 before the major acquisition financing.
According to The Financial Express, both companies are scheduled to report September quarter results on November 5, 2026, marking the first quarterly performance since their major international acquisitions. The analysis suggests that the next few quarters will be crucial in determining whether these high-ROCE stocks can maintain their performance levels while managing the increased capital requirements from their expansion strategies. The family has maintained their stakes in both companies without any trimming in the last eight quarters, demonstrating confidence in their long-term prospects despite the increased leverage levels.
