Synopsis: Advait Energy, with a ₹1,530 crore market cap, has attracted ace investors holding over 3% combined stake. Backed by a ₹1,070 crore order book, 55% sales CAGR, and 131% profit CAGR, the company is positioned as a high-growth small-cap in energy transition.
In recent years, investor attention in the stock market has gradually shifted toward smaller companies as participation has widened and information availability has improved. Alongside this, many market participants closely track the portfolios and investment moves of ace investors, using them as a reference point while exploring opportunities beyond well-known large-cap names. This broader approach reflects a growing focus on identifying credible growth stories rather than relying only on market size or familiarity.
Advait Energy Transitions Limited, with a market capitalization of Rs. 1,530.06 crore, closed at Rs. 1,399 per equity share, down by 2.35 percent from its previous day’s close price of Rs. 1,432.70 per equity share.
As of December 2025, Ace Investor Ashish Kacholia holds a 2.06 percent stake in the company, amounting to 225,000 shares, while fellow investor Vijay Kedia has bought a fresh 1.1 percent stake, equivalent to 125,000 shares.
Advait Energy Transitions Limited has delivered returns across multiple timeframes, with a 1-month return of -5.85 percent, a 3-month return of -25.17 percent, and a 6-month return of -40.04 percent. The stock has delivered a -11.88 percent return in the past 1 year and in the longer frame of 5 years it has delivered a return of 5,401.96 percent.
Advait Energy Transitions Limited, incorporated in 2010, is an emerging leader in power transmission solutions and renewable energy infrastructure. The company provides end-to-end EPC (Engineering, Procurement, and Construction) solutions across India and globally. Its core business includes manufacturing aluminium-clad steel (ACS) and OPGW wires, Emergency Restoration Systems (ERS), and over 140 types of stringing tools for the power transmission sector.
In addition, Advait Energy has expanded into the green energy space, setting up a greenfield facility for electrolysers with 300 MW capacity and an assembly line for advanced fuel cell technology. Its product and service portfolio is highly niche, providing a mix of high-quality manufacturing and specialised engineering solutions that cater to the evolving energy transition landscape.
Order Book Details
Advait Energy’s growth is backed by a robust order book of Rs 1,070 crore as of September 2025, with 76 percent from the Power Transmission Solutions (PTS) division and 24 percent from the New & Renewable Energy (NRE) division. This represents a 177 percent jump from Rs 386.9 crore in Q2FY25 and a three-year CAGR of 92 percent, reflecting strong demand for its specialised products and services.
The PTS segment contributes through ACS wires, OPGW, OFC, ERS, stringing tools, and EPC projects like RDSS and HTLS reconductoring, while the NRE segment focuses on solar EPC projects, and Battery Energy Storage Systems (BESS).
Cash Flow and Cash Conversion Cycle
The company maintains healthy cash flow metrics, with a positive operating cash flow of Rs 46 crore and positive net cash flow of Rs 52 crore, indicating strong liquidity and operational efficiency. Its cash conversion cycle stands at -77 days, reflecting excellent working capital management, as the company collects payments first than it pays its suppliers, a key advantage for a fast-growing small-cap.
Financial Performance
Advait Energy has shown outstanding financial growth over the last five years. Its sales grew at a CAGR of 55 percent, from Rs 45 crore in FY20 to Rs 399 crore in FY25, with H1FY26 sales already at Rs 275 crore.
EBITDA has expanded at a CAGR of 67 percent, rising from Rs 4 crore in FY20 to Rs 52 crore in FY25, while H1FY26 EBITDA stood at Rs 31 crore. Net profit growth has been even more striking, with a CAGR of 131 percent, moving from Rs 1 crore in FY20 to Rs 32 crore in FY25, and H1FY26 profits already at Rs 20 crore. These figures underscore not just growth in revenue, but strong profitability and operational leverage.
A return on equity (ROE) of about 22.5 percent and a return on capital employed (ROCE) of about 26.9 percent, and debt to equity ratio at 0.27 demonstrate the company’s financial position. The stock is currently trading at a P/E of 37.8x higher as compared to industry P/E of 18.4x.
The company reported strong revenue growth in Q2FY26, reaching Rs. 157 cr compared to Rs. 46 cr in Q2FY25, a growth of 241 percent, and up from Rs. 118 cr in Q1FY26, a quarter-on-quarter increase of 33 percent. EBITDA for the quarter rose to Rs. 17 cr from Rs. 9 cr in Q2FY25, an 89 percent increase, and from Rs. 14 cr in Q1FY26, up 21 percent QoQ, reflecting better operational efficiency alongside higher sales.
Net profit in Q2FY26 stood at Rs. 11 cr, up from Rs. 4 cr in Q2FY25, a growth of 175 percent, and from Rs. 9 cr in Q1FY26, a 22 percent quarter-on-quarter rise. The numbers indicate that the company is scaling rapidly, with revenue growth translating into significant improvements in profitability and margins.
Advait Energy’s growing appeal among ace investors is underpinned by a rare combination of strong financial growth, a Rs. 1,070 crore order book, expanding presence in power transmission and renewables, and disciplined capital management reflected in a -77-day cash conversion cycle. While near-term stock performance has been volatile and valuations remain elevated at 39.6x P/E, sustained revenue CAGR of 55 percent, profit CAGR of 131 percent, healthy ROE of ~22.5 percent, aligned it with India’s energy transition theme.
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