The group of companies which now comprise Pico Capital, consist of Western India Garments (WIGS) Pvt. Ltd., Pinkhem Investments Pvt. Ltd., Mode Export Pvt. Ltd., and Veer Mercantile Pvt. Ltd.
The group promoter, Mr. Ajay Bhartiya, began his career in the textile industry. The parent company, WIGS, was established as early as 1977. The main operating business then was manufacturing and exporting of textiles to large European retail chains.
Over time, as the return on invested capital deteriorated in the textile business, the group began investing accumulated profits into financial securities. This proportion kept growing until finally in 2012 we closed the textile business and concentrated on financial activities.
The group has a successful track record of capital allocation and the combined net worth of the group has grown at a CAGR of ~19% over the last 25 years.