Are you sure the battery is alright ?
Batteries are consumables. They do wear, even when not used.
A worn battery (and after 14 months it could be worn...) is continuously being recharged. This can cause the laptop getting very hot which in turn causes the CPU to "throttle down" to prevent overheating.
The under powered power-supply might also be part of the problem. The original PSU had enough juice to power the laptop at full-speed and recharge the battery at the same time, but the current one not so much. As a result something has to give: Charge the battery slower or throttle down the laptop, possibly both.
Try to operate the laptop WITHOUT battery. (Most laptops allow this.) See if the laptop runs faster/less hot.
Also run it on JUST the battery and see if you get reasonable lifetime out of the battery.
That should tell you if the battery is end-of-life and needs replacing.
That is assuming the new PSU is suitable. If that is out of spec it can cause all sorts of weirdness.
So double-check if the replacement PSU you are using now is really suitable. It should have the same output voltage (within 10% of the original PSU, if it is not exactly the same a little higher is better then a little lower). And ideally the replacement should be able to deliver at least 2/3 of the original power (you're borderline OK there) but more is always better.
How did you determine it is overheating? – Moab – 2016-03-22T17:59:35.567
Well, laptop became unusabley hot even when i used stands and coolers. The only way it performed without excessive heating was in a air conditioned cold room or winter :D Can't use the machine in summer for more than 30 mins :p – Ranan – 2016-03-23T07:10:16.000