Home / Business and Economy / Vijay Kedia's SME Strategy: High Stakes in Sattrix & Iware
Vijay Kedia's SME Strategy: High Stakes in Sattrix & Iware
23 Oct
Summary
- Kedia took significant stakes in Sattrix and Iware via unique methods.
- Sattrix faces revenue acceleration but margin compression and slow payments.
- Iware shows growth but grapples with debt, customer concentration, and a B+ rating.
Investor Vijay Kedia has formally disclosed significant new positions in two Small and Medium-sized Enterprise (SME) companies: Sattrix Information Security and Iware Supplychain Services. His investment firm, Kedia Securities, now holds an 8.06% stake in Sattrix, a BSE-listed cybersecurity firm, and a combined 10.35% in NSE-listed logistics company Iware Supplychain Services. These stakes, totaling around Rs 73 crore as of October 21, 2026, highlight Kedia's "SMILE" investment strategy, focusing on companies with small size, medium experience, large aspirations, and significant market potential.
Sattrix, which went public in June 2024, presents a mixed financial picture. While its revenue grew 36% in FY26 and profits doubled, it faces challenges including 234 debtor days and volatile order book updates. The company's acquisition of Sattrix Software Solutions via a share swap involved a high valuation multiple. Iware Supplychain Services, listed in May 2025, has seen its stock jump nearly 300%. However, the logistics firm reported an operating margin drop to 11% in FY26 and a significant increase in debt to Rs 70 crore. Furthermore, CARE Ratings issued a CARE B+ rating, citing stretched liquidity and past EMI payment delays, underscoring the high-risk nature of these SME investments.
