Investor Kedia Bets Big on Small-Cap Solar and Agro

In March 2026, investor Kedia made significant moves, acquiring stakes in two distinct companies: Websol Energy and Mahamaya Lifesciences. Websol Energy, a solar cell and module manufacturer based in Falta, West Bengal, has experienced a substantial turnaround. Its sales surpassed Rs 1,000 cr in FY26, with net profit hitting Rs 303 cr, supported by a capacity ramp to 1.35 GW. The share price surged over 1,700% from June 2021 to June 2026, although promoter holdings are below 30% and largely pledged.

Mahamaya Lifesciences, incorporated in 2002, focuses on crop protection products and bioproducts. Kedia acquired a 4.5% stake in the company, which trades on the BSE SME platform. While its sales grew from Rs 90 cr in FY22 to Rs 329 cr in FY26 with net profit rising to Rs 17 cr, investors should note its negative cash flow from operations of Rs 30 cr in FY26 due to funds locked in inventory and receivables. The company plans capacity expansion at Dahej.

The filings signal Kedia's strategy to invest in foundational Indian industries, even at the smaller end of the market. For ordinary investors, the lesson is not to replicate trades but to emulate the thorough homework required. Both Websol Energy and Mahamaya Lifesciences warrant inclusion on a watchlist for close observation.