The year 2025 proved volatile for the markets, particularly hitting small- and midcap stocks hard. While benchmark indices touched new highs, the broader market experienced notable declines.
Here’s a look at the five biggest losers on the Nifty 500 index this year:
1. Aditya Birla Fashion and Retail (ABFRL)
Aditya Birla Fashion and Retail (ABFRL) emerged as the worst performer, wiping out over 72% of investors’ wealth in the past year. The company underwent a major demerger in May 2025, splitting into ABFRL and Aditya Birla Lifestyle Brands (ABLBL), with shareholders receiving one ABLBL share for each ABFRL share.
2. Tejas Networks
Tejas Networks fell 63% over the last 12 months, including a 35% decline in the past six months and a 6.6% drop in the last month alone. The stock faced challenges, including a complaint from Bharti Airtel about “sub-standard equipment” causing network interference in Rajasthan. The company also reported a consolidated net loss of ₹193.9 crore in Q1 FY25, compared to a profit of ₹77.5 crore in the same quarter last year.
3. Ola Electric Mobility
Ola Electric, founded by Bhavish Agarwal, lost 62.4% over the past year. Despite its IPO in August 2025 raising over ₹6,000 crore at an issue price of ₹75, the stock struggled post-listing amid social media controversies and promoter share sales.
4. SKF India
SKF India, the Indian subsidiary of Swedish multinational SKF Group, saw a 60% decline over the past year. The industrial firm, which provides bearings, seals, and lubrication systems for automotive, industrial, and agricultural sectors, also dropped over 20% in the last six months.
5. Praj Industries
Praj Industries rounded out the list, falling 59% in the past year, including a 33% decline in the last six months. The company reported a 65% YoY drop in consolidated net profit to ₹19.2 crore in Q2 FY26, down from ₹53 crore in the same period last year.
Takeaway:
Small- and midcap investors have had a challenging year, with the Nifty 500’s laggards showing steep losses despite broader market gains. Companies like ABFRL, Tejas Networks, and Ola Electric were particularly hard hit, reflecting operational issues, market volatility, and sector-specific challenges.
