According to reports from The Financial Express, Vijay Kedia's portfolio comprises 23 listed companies with a total valuation of ₹14.15 billion as of August 21. The portfolio has undergone notable changes in the June quarter, including a new position in Eimco Elecon, a higher stake in Websol Energy Systems, and reductions in Innovators Facade Systems and Affordable Robotic & Automation. Kedia's holdings range from businesses with improving earnings and large order books to companies attempting to move into new growth areas, with the common thread being potential changes in earnings trajectory rather than simply cheap valuations.
As reported by The Financial Express, Atul Auto is one of Kedia's largest holdings, with 18.2% ownership at the end of June 2026. The company manufactures three-wheelers for passenger and cargo applications across diesel, petrol, CNG and electric powertrains. Q1 FY27 sales grew 42.97% year-on-year, while EBITDA margin improved to 7.72% compared with 6.55% a year earlier. The company spent ₹107 million on capital expenditure in FY26 and plans to consolidate manufacturing at its Ahmedabad facility with 60,000 vehicles annual capacity. At ₹481, the stock trades at 27.7 times earnings, representing a 61% discount to its five-year median PE of 71 times.
According to The Financial Express, Innovators Facade Systems holds 8.71% of Kedia's portfolio, though this represents a decline from 10.66% in March 2026. The company designs, engineers, fabricates and installs facade systems for buildings, with FY26 sales growing 3% while EBITDA margin fell to 13% from 15% in FY25. Despite strong order flow, the company ended FY26 with a record ₹7.4 billion order book and secured additional orders including a ₹768 million Lodha Developers project in August. At ₹117, the stock trades at 16.2 times earnings, approximately 46% discount to its five-year median PE of 29.8 times.
As reported by The Financial Express, Affordable Robotic & Automation holds 7.01% of Kedia's portfolio, providing industrial automation solutions through its Humro subsidiary. The company secured ₹480 million strategic investment for Humro, with ₹240 million received and a confirmed order book of ₹1.49 billion in August. Q1 FY27 sales fell 41.2% while the company reported an operating loss with EBITDA margin at -29.6%. At ₹167, the stock trades at 34 times earnings, representing a 53% discount to its five-year median PE of 72 times.
According to The Financial Express, Repro India holds 6.32% of Kedia's portfolio, providing printing and publishing solutions with business moving toward print-on-demand and digital content management. Q1 FY27 revenue grew 20% year-on-year to ₹1.41 billion, the highest quarterly revenue in company history. Digital business revenue grew 11% to ₹1.04 billion, while platform business grew 24% to ₹740 million with an annualized revenue run-rate of around ₹3 billion. The company was debt-free with a cash surplus of ₹700 million at Q1 FY27 end and expects ₹100-150 million capex for FY27.
As reported by The Financial Express, TechD Cybersecurity holds 5.26% of Kedia's portfolio, providing end-to-end cybersecurity services with FY26 revenue growing 73.9%. The company targets ₹750-800 million revenue in FY27 and aims to increase its order book from ₹430 million to ₹750-800 million by H1 FY27. Management reported a 98% customer renewal rate and is expanding its 60,000 sq ft Global Capability Center in Ahmedabad. At ₹550, the stock trades at 29.3 times earnings, below its five-year median PE of 36.4 times.
