Johnsoncab Electricals
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Subscription
- Qualified institutionalQIB
- 20.00×
- Big non-institutionalbNII · above ₹10 lakh
- 50.50×
- Small non-institutionalsNII · ₹2–10 lakh
- 25.82×
- Retail individualRII · up to ₹2 lakh
- 18.00×
Grey market premium
Unofficial and indicative — not a forecast
Day-wise premium · 8 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 04 Nov 2026 | ₹8 | — | ₹3,600 | ₹208 | ₹4,800 |
| 03 Nov 2026 | ₹8 | — | ₹3,600 | ₹208 | ₹4,800 |
| 02 Nov 2026 | ₹10 | — | ₹4,600 | ₹210 | ₹6,000 |
| 01 Nov 2026 | ₹5 | — | ₹2,300 | ₹205 | ₹3,000 |
| 31 Oct 2026 | ₹5 | — | ₹2,300 | ₹205 | ₹3,000 |
| 30 Oct 2026 | ₹10 | — | ₹4,600 | ₹210 | ₹6,000 |
| 29 Oct 2026 | ₹13 | — | ₹5,900 | ₹213 | ₹7,800 |
| 28 Oct 2026 | ₹10 | — | ₹4,600 | ₹210 | ₹6,000 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Bids received
The demand behind each multiple — what was offered, what was bid for, and what those bids are worth
| Category | Shares offered | Shares bid for | Bids (₹ Cr) | Times |
|---|---|---|---|---|
| Non-institutional | 3,99,600 | 1,68,93,000 | ₹338 Cr | 42.27× |
| Big non-institutionalwithin NII | 2,66,400 | 1,34,54,400 | ₹269 Cr | 50.50× |
| Small non-institutionalwithin NII | 1,33,200 | 34,38,600 | ₹68.77 Cr | 25.82× |
| Total | 18,64,200 | 4,43,96,400 | ₹888 Cr | 23.82× |
Times subscribed is the figure published for each category, not shares bid for divided by shares offered — a category's multiple is struck against its own allottable base, which is not always the offered count shown beside it. Observed 03 Nov, 05:56 pm IST; the registrar publishes the final basis of allotment.
Issue details
- IPO date
- 30 Oct 2026 – 03 Nov 2026
- Listing date
- 06 Nov 2026
- Face value
- ₹10 per share
- Price band
- ₹190 – ₹200
- Issue price
- ₹200 per share
- Lot size
- 600 shares
- Sale type
- Fresh capital
- Issue type
- Book Building issue
- Listing at
- BSE
- Total issue size
- ₹56.02 Cr
- Fresh issue
- ₹53.18 Cr 26,59,200 shares
- Offer for sale
- ₹0 Cr 0 shares
- Market cap at offer price
- ₹211 Cr
- Promoter holding
- 100.00% → 73.50% pre-issue → post-issue
- ISIN
- INE1ZSR01011
- CIN
- U31900GJ2020PLC118226
- Registrar
- Maashitla Securities Pvt.Ltd.
- Lead managers
- ISK Advisors Pvt.Ltd.
- Registered office
- Survey No. 930, Jagudan Char Rasta, Mehsana-Ahmedabad Highway, At Linch, Jagudan, Mehsana, Gujarat, India, 382710
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 7,95,000 | — | — |
| Market maker | 1,41,600 | — | — |
Application size
Minimum 600 shares per lot, in multiples, at ₹200
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 600 | ₹1,20,000 |
| S-HNI (min) | 2 | 1,200 | ₹2,40,000 |
| S-HNI (max) | 8 | 4,800 | ₹9,60,000 |
| B-HNI (min) | 9 | 5,400 | ₹10,80,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 17.27 | 19.60 |
| P/E (×) | 11.58 | 10.20 |
| Price to book (×) | 4.94 | — |
| Market cap | — | ₹211 Cr |
Key performance indicators
- Return on net worth
- 42.68%
- ROCE
- 28.00%
- Debt / equity
- 2.54
- PAT margin
- 6.38%
- EBITDA margin
- 11.43%
- NAV per share
- ₹40.47
- Price to book
- 4.94
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
Company financials
| Period ended | FY26 | FY25 | FY24 |
|---|---|---|---|
| Profit and loss | |||
| Total income | 211.34 | 140 | 88.95 |
| Revenue from operations | 210.47 | 139.79 | 88.34 |
| Other income | 0.87 | 0.21 | 0.61 |
| Total expenses | 193.4 | 132.63 | 85.65 |
| Operating profit | 17.94 | 7.37 | 3.3 |
| Operating margin | 8.49% | 5.26% | 3.71% |
| Profit before tax | 17.94 | 7.37 | 3.3 |
| Profit after tax | 13.42 | 5.46 | 2.52 |
| PAT margin | 6.35% | 3.90% | 2.83% |
| Balance sheet | |||
| Total assets | 126.64 | 64.28 | 48.44 |
| Current assets | 92.77 | 46.63 | 33.2 |
| Current liabilities | 68.29 | 29.9 | 20.17 |
| Total liabilities | 95.19 | 50.04 | 39.56 |
| Net worth | 31.44 | 14.24 | 8.88 |
| Current ratio | 1.36× | 1.56× | 1.65× |
| Return on equity | 42.68% | 38.34% | 28.38% |
| Cash flow | |||
| Operating cash flow | -19.7 | -1.73 | -4.27 |
| Investing cash flow | -16.69 | -3.39 | -9.91 |
| Financing cash flow | 36.65 | 5.16 | 14.13 |
| Net cash flow | 0.26 | 0.04 | -0.05 |
Objects of the issue
1 Construction of Shed and Civil Work (Unit-II Expansion) ₹8.46 Cr
The company intends to fund the construction of a new factory shed and associated civil works at Unit-II, including site development, road construction, water tank, drain estimation, and related infrastructure to support expanded manufacturing operations.
2 Purchase of Additional Plant & Machinery for Increasing Production Capacity (Quotations) ₹9.90 Cr
The company proposes to procure additional machinery (including coiling machines, compressors, EOT cranes, mixers, LT panels, fans, and related equipment) to expand wire and cable production capacity at Unit-II through new quotations yet to be converted into purchase orders.
3 Purchase of New Machinery to Manufacture Paper Insulated Copper/Aluminium Conductors (PICC) – Quotations ₹8.50 Cr
The company intends to fund procurement of machinery (fiber glass machines, platforms for furnace, aluminium partitions) required to set up a new PICC manufacturing line at Unit-II, for which purchase orders are yet to be placed.
4 Purchase and Set Up of Rooftop Solar Power Plant ₹3.22 Cr
The company proposes to install rooftop solar power plants at manufacturing Unit-I and Unit-II to minimize electricity costs, reduce dependency on state electricity supply, and support captive consumption through renewable energy generation.
5 Additional Working Capital Requirement ₹14 Cr
The company intends to meet incremental working capital needs arising from business expansion, increased production capacity, higher trade receivables, and inventory levels projected for FY 2026-27, with the balance funded through internal accruals and short-term borrowings.
6 General Corporate Purpose —
The company's management intends to deploy a portion of net proceeds towards general corporate purposes including strategic initiatives, ordinary course business expenses, insurance, initial development costs for other projects, and other exigencies as approved by the Board.
1 of 6 objects carry no stated amount — typically general corporate purposes, funded from whatever remains — so the total above is the quantified portion only, not the whole issue.
About Johnsoncab Electricals
Johnsoncab Electricals Limited manufactures wires and cables at two manufacturing units in Mehsana, Gujarat (Unit-I at Survey No. 930, Jagudan and Unit-II at NA 1055/1, Linch). Its depot is at Shamanur, Devangere, Karnataka. Manufacturing covers drawing, furnacing, stranding, testing, armouring and logistics. Its product lines in the revenue table are power cables, housing/building wires, industrial single core and multicore control cables, submersible flat cables, solar/photovoltaic cables and welding cables. Cables account for most of its revenue from operations. The business began as a partnership firm, Johnson Cables, under a partnership deed dated February 02, 2012. It was converted into Johnsoncab Electricals Private Limited, with a certificate of incorporation dated November 12, 2020. It became a public limited company, Johnsoncab Electricals Limited, through an EGM resolution on November 14, 2025 and a fresh certificate of incorporation dated December 05, 2025. The company earns revenue from sales of its cables and wires against customer purchase orders on standard payment terms. Revenue from operations was Rs 21,047.41 lakhs in FY 2025-26 and Rs 11,303.62 lakhs for the period ended August 31, 2026. Distributors accounted for 24.33% of FY 2025-26 revenue, and the remainder came from end-use industries.
Management
Mr. Chandreshkumar Shankerlal Patel
MD
Mr. Anjal Chandreshkumar Patel
CFO
Mrs. Bhavanaben Chandreshkumar Patel
Director
Mr. Shail Pradipkumar Shah
Director
Mr. Yax Arunbhai Patel
Director
Mr. Shankar Lal
Director
Ms. Toshi Rajora
Director of Operations
Mr. Manish Devasi
Director
Mr. Ronakkumar Visabhai Patel
Director of Operations
Mr. Vipulkumar Kantilal Panchal
Director
Strengths
As stated in the offer document
Consistent Growth in Revenue from Operations Demonstrating Business Scalability
The company has recorded revenue from operations of ₹8,833.89 lakhs, ₹13,979.13 lakhs, ₹21,047.41 lakhs, and ₹11,303.62 lakhs for Fiscals 2024, 2025, 2026, and the period ended August 31, 2026, respectively, reflecting scalable operations and strong market acceptance.
Continued Investment in Manufacturing Infrastructure to Support Future Growth
The company has consistently invested in plant and equipment, with total capital expenditure of ₹984.14 lakhs, ₹164.94 lakhs, ₹1,690.51 lakhs, and ₹202.74 lakhs for FY 2023-24, FY 2024-25, FY 2025-26, and the period ended August 31, 2026, respectively, to enhance manufacturing capacity and operational efficiencies.
Ability to Serve Both Government and Private Sector Customers
The company caters to both government and private sector customers; for FY 2025-26, revenue from public sector units was ₹3,974.98 lakhs (18.89%) and from private entities was ₹17,072.43 lakhs (81.11%), demonstrating a diversified customer acquisition approach.
Product Innovation Supported by Intellectual Property (Patent)
The company owns an Indian patent titled 'An Improved Three Core Double Insulated Flat Electrical Cable for Submersible Pump' (Patent No. 420982), granted on February 8, 2023, valid up to June 30, 2042, strengthening its product portfolio in the submersible cable segment.
Established Vendor Approvals and Eligibility to Participate in Government Tenders
The company is an approved vendor with Western Railway, UGVCL (Unit-I and Unit-II), R&B Department Gujarat, JVVNL, and GSRTC, enabling it to participate in government tenders for supply of various categories of cables and wires.
Risk factors
As stated in the offer document
High Indebtedness and Debt Servicing Obligations
The company carries significant debt obligations that increase vulnerability to adverse economic conditions and divert cash flows from operations, limiting funds available for working capital and capital expenditure. As of August 31, 2026, total borrowings stood at ₹6,601.01 Lakhs at floating rates of 7.45%–8.58% per annum, and any inability to service debt could lead to credit rating downgrades and restricted access to future financing.
Negative Cash Flows from Operating Activities
The company recorded negative operating cash flows of ₹1,970.06 Lakhs in FY2026, ₹173.07 Lakhs in FY2025, and ₹426.57 Lakhs in FY2024, driven primarily by expanding working capital requirements. Sustained negative cash flows could materially impair the company's ability to fund operations, execute growth plans, and maintain the trading price of its equity shares.
Significant Working Capital Requirements
The company's net working capital increased from ₹2,672.82 Lakhs in FY2024 to ₹7,773.81 Lakhs in FY2026, with net working capital days rising to 111 days, reflecting a highly capital-intensive business model. Any delays in billing, trade receivable collections, or inventory management could adversely affect cash flows and necessitate additional borrowings.
Concentration Risk in Key End-User Industries
Over 25% of the company's revenues are derived from the Railway and Renewable Energy industries, while the energy transmission and distribution sector contributed 42.12% of revenue in FY2026. Any downturn in these industries could have a material adverse impact on the company's revenue from operations, cash flows, and financial condition.
Dependence on Unit-I Manufacturing Facility
Unit-I contributed 81.47% of total revenue for the period ended August 31, 2026, making the company significantly dependent on a single manufacturing facility in Mehsana, Gujarat. Any disruption, shutdown, or operational issue at Unit-I could have a material adverse effect on the company's business, financial condition, and results of operations.
Regulatory Compliance and Statutory Filing Delays
The company has a history of delayed filings with the Registrar of Companies (ROC) and GST authorities, attracting late fees and penalties, with ROC-related late fees totaling over ₹27,800 across multiple filings. Future non-compliance or regulatory actions could result in penalties, fines, or reputational damage that adversely affect financial condition and operations.
Dependence on Key Promoters and Management Personnel
The company is heavily reliant on its individual Promoters and executive Directors for day-to-day operations, strategic direction, and customer relationships. The loss of any key promoter or senior management personnel could impair the company's ability to implement its strategy and adversely affect business performance and financial condition.
Unsecured Loans Recallable at Any Time
The company has availed unsecured loans from Promoter Directors and relatives amounting to ₹1,155.89 Lakhs as of August 31, 2026, which may be recalled at any time. Such recall could adversely impact cash flows, trigger cross-default provisions in secured loan agreements, and potentially lead to termination of credit facilities.
Product Quality and Regulatory Compliance Risk
The company operates in a highly regulated sector requiring compliance with ISO and BIS standards, and any failure to meet these quality standards could result in order cancellations, liquidated damages, or loss of key customers. The company has incurred liquidated damages of ₹8.93 Lakhs in FY2026 and ₹10.69 Lakhs in FY2025, and future product defects could expose it to significant financial and reputational risks.
Foreign Currency Fluctuation Risk
The company imports raw materials, with imported raw material constituting 9.26% (₹976.88 Lakhs) of total purchases for the period ended August 31, 2026, exposing it to foreign exchange volatility. Adverse movements in the Indian Rupee against the USD or other currencies could increase procurement costs and negatively impact results of operations and cash flows.
Company Analysis
from RHPJohnsoncab Electricals Limited manufactures wires and cables and sells them to power transmission and distribution, renewable energy, railway, industrial, building and housing, agriculture and chemical end users.
Johnsoncab Electricals Limited manufactures wires and cables at two manufacturing units in Mehsana, Gujarat (Unit-I at Survey No. 930, Jagudan and Unit-II at NA 1055/1, Linch). Its depot is at Shamanur, Devangere, Karnataka. Manufacturing covers drawing, furnacing, stranding, testing, armouring and logistics. Its product lines in the revenue table are power cables, housing/building wires, industrial single core and multicore control cables, submersible flat cables, solar/photovoltaic cables and welding cables. Cables account for most of its revenue from operations. The business began as a partnership firm, Johnson Cables, under a partnership deed dated February 02, 2012. It was converted into Johnsoncab Electricals Private Limited, with a certificate of incorporation dated November 12, 2020. It became a public limited company, Johnsoncab Electricals Limited, through an EGM resolution on November 14, 2025 and a fresh certificate of incorporation dated December 05, 2025. The company earns revenue from sales of its cables and wires against customer purchase orders on standard payment terms. Revenue from operations was Rs 21,047.41 lakhs in FY 2025-26 and Rs 11,303.62 lakhs for the period ended August 31, 2026. Distributors accounted for 24.33% of FY 2025-26 revenue, and the remainder came from end-use industries.
Objects of the Issue
- Construction of additional factory shed for expansion (capital expenditure) ₹846.34 lakhs from Net Proceeds (total estimated ₹846.34 lakhs; nothing deployed as of the RHP date) p.131
- Purchase of additional plant & machinery for increasing the production capacity (capital expenditure) ₹937.75 lakhs from Net Proceeds (total estimated ₹990.35 lakhs; ₹52.60 lakhs deployed or advanced as of the RHP date) p.131
- Purchase of new machinery to manufacture Paper Insulated Copper / Aluminium Conductors (capital expenditure) ₹733.11 lakhs from Net Proceeds (total estimated ₹850.12 lakhs; ₹117.01 lakhs deployed or advanced as of the RHP date) p.131
- Purchase and set up of a rooftop solar power plant (capital expenditure) ₹322.80 lakhs from Net Proceeds (total estimated ₹322.80 lakhs; nothing deployed as of the RHP date) p.131
- Additional working capital requirement ₹1,400.00 lakhs (total estimated and from Net Proceeds; nothing deployed as of the RHP date) p.131
- General corporate purposes Not quantified (₹ [●]); capped at 15% of the amount raised through the Offer or ₹1,000.00 lakhs, whichever is lower p.131
- Construction of additional factory shed for expansion at Unit-II (civil cost and factory shed) ₹ 846.34 lakhs p.136
- Purchase of additional plant and machinery to increase production capacity at Unit-II 937.75 (₹ in Lakhs), amount proposed to be funded from Net Proceeds p.135
- Purchase of machinery to manufacture Paper Insulated Copper / Aluminium Conductors (PICC) ₹733.11 Lakhs p.133
- Installation of rooftop solar power plant to reduce power cost ₹322.80 Lakhs p.133
- Additional working capital requirement for FY 2026-27 Rs. 1400.00 lakhs p.160
- General corporate purposes p.166
Issue Structure
- Total Issue
- ₹ [●] Lakhs
- Fresh Issue
- Upto 28,00,800 Equity Shares aggregating to ₹ [●] Lakhs
- Offer for Sale
- NIL
- Lot Size
- [●] equity shares and in multiples of [●] equity shares thereafter
- Face Value
- ₹ 10
Business Model
Manufactures and sells cables and wires, primarily on a purchase order basis with standard payment terms. Sales go to distributors (24.33% of FY 2025-26 revenue) and to end-use industries. The company has no long-term or exclusive contracts with most customers. Scrap, raw materials and residual products are also sold, and these are reported under 'Others'.
Business Segments
SWOT Analysis
- • Products comply with ISO and BIS certifications(p.52)
- • In-house quality control laboratory checks products before dispatch(p.52)
- • Supplies a broad range of end-user industries(p.43)
- • Lease grants a right to renew the manufacturing land lease for 20 more years(p.38)
- • Consistent revenue growth from operations(p.170)
- • Serves both government and private sector customers(p.170)
- • Established vendor approvals and eligibility for government tenders(p.170)
- • Product innovation backed by a patent(p.170)
- • Vendor registrations give access to railway and discom procurement(p.133)
- • ISO and BIS certifications(p.206)
- • ROCE above all identified peers in FY2026(p.178)
- • Promoter and MD has over 37 years of industry experience(p.236)
- • Established "Johnson" brand recognised by customers and dealers(p.236)
- • ISO 9001:2015, ISO 14001:2015, ISO 45001:2018 and BIS certifications(p.236)
- • Products supplied across multiple end-use sectors(p.236)
- • Two Mehsana plants with 79,950 KMS annual installed capacity(p.236)
- • Indian patent for three-core double-insulated submersible pump cable, valid to 2042(p.239)
- • Approved vendor with state utilities, PSUs and DISCOMs(p.239)
- • Quality certifications: ISO and BIS certified products(p.341)
- • Installed capacity of 79,950 KMS per year across two Mehsana units, certified by an independent chartered engineer(p.341)
- • Broad low-voltage cable product range across power, renewable, railway and industrial uses(p.341)
- • EBITDA margin rose from 6.14% (FY2024) to 13.55% (Aug 2026 stub)(p.341)
- • Installed capacity rose 66.91% to 79,950 KMs in FY2026(p.359)
- • EBITDA margin improved to 11.43% in FY2026(p.360)
- • Profit after tax up 145.58% in FY2026(p.360)
- • Shift toward higher-margin, value-added products(p.361)
- • Registered patent for submersible pump cable(p.389)
- • ISO 9001:2015 certification for Unit I(p.385)
- • High debt-to-equity ratio of 1.94 as of August 31, 2026(p.39)
- • Dependence on a few customers for a large share of revenue(p.35)
- • Significant working capital needs(p.44)
- • Negative operating cash flows in the recent periods(p.45)
- • Heavy reliance on Unit-I for most revenue(p.47)
- • Promoter unsecured loans can be recalled at any time(p.50)
- • High employee attrition(p.36)
- • Capacity and utilisation figures rest on management assumptions and may vary significantly from current and historical levels.(p.61)
- • No assurance that internal control deficiencies will not arise, and remediation may be late.(p.62)
- • Board majority lacks prior experience on listed-company boards.(p.63)
- • Projected fund requirements are management estimates, not appraised by any bank or agency.(p.63)
- • Promoter and Promoter Group will hold about 73.50% post-Issue, giving them control.(p.64)
- • Plant and machinery orders of up to ₹771.98 Lakhs are not yet placed.(p.65)
- • No alternate funding arranged for the Objects of the Issue.(p.65)
- • Market acceptance of the proposed new product is not assured.(p.66)
- • Promoters' personal guarantees secure company borrowings; revocation could hurt operations (internal dependence on promoters)(p.289)
- • Revenue concentrated in top customers(p.370)
- • No long-term contracts with raw material suppliers(p.352)
- • Negative operating cash flow in FY2026(p.368)
- • Leverage of 1.94x total debt to equity at 31 Aug 2026(p.392)
- • Short-term borrowings rose 141.27% to fund working capital(p.365)
- • Reliance on promoter unsecured loans to cover cash shortfalls(p.368)
- • Government receivables have longer collection cycle(p.365)
- • Execution risk in planned capacity expansion(p.353)
- • Plans to expand into railways and mobility to reduce reliance on current end-use industries(p.44)
- • Plans to buy new machinery at Unit-II to reduce dependence on Unit-I(p.47)
- • Growth from expanding engagement with existing and new customers(p.35)
- • Historically higher revenue in the last fiscal quarter from government projects(p.40)
- • Plans to raise capacity utilisation by widening the customer base, diversifying products (including PICC), and improving efficiency.(p.61)
- • Planned spending on additional plant and machinery to raise production capacity.(p.130)
- • Planned new machinery to make Paper Insulated Copper/Aluminium Conductors.(p.130)
- • Company expects listing to raise its brand visibility and give existing shareholders liquidity.(p.130)
- • Rising revenue from government tenders(p.133)
- • Planned Unit-II capacity increase(p.133)
- • Government policy support for power and infrastructure demand(p.133)
- • New PICC product line expected to add sales(p.133)
- • Global PICC market growth(p.202)
- • Solar cable demand growth in India(p.198)
- • Transmission expansion need(p.203)
- • Rising power, infrastructure, railway and smart-city investment expected to drive cable demand(p.237)
- • Renewable energy focus expected to drive demand for solar and power cables(p.237)
- • Approved railway vendor positioned for electrification and government infrastructure demand(p.237)
- • Overseas buyers sourcing from Indian suppliers as supply chains diversify(p.237)
- • Planned capacity expansion through new factory shed and machinery at Unit-2(p.240)
- • Plan to add higher-margin paper-covered conductors for high-voltage applications(p.241)
- • Planned capacity expansion at Unit II(p.353)
- • Unit II added products for power and control cable demand(p.361)
- • Growing renewable energy opportunities(p.362)
- • Increased business from renewable, infrastructure and railway sectors(p.365)
- • Sector policy permits 100% foreign direct investment in manufacturing under the automatic route (a regulatory statement, not a company-specific strategy)(p.480)
- • Raw material prices are volatile and driven by trade policy and supply-demand factors outside the company's control(p.34)
- • Demand for cables depends on the cables market, which is affected by policy, spending and interest rates(p.48)
- • Downturns in customer end-use industries would reduce revenue(p.43)
- • Monsoon and pre-monsoon seasonality slows project execution and demand(p.40)
- • Changes in the regulatory environment could raise obligations and affect business(p.55)
- • Foreign exchange fluctuations raise the cost of imported and import-linked raw materials(p.56)
- • Volatile interest rates raise the cost of borrowings(p.58)
- • Competitors with greater local presence and financial resources in other regions(p.39)
- • State electricity board tariffs could rise significantly, raising production cost.(p.62)
- • Changes in government or economic and deregulation policy could hurt operations.(p.67)
- • Natural disasters could force temporary facility closures.(p.67)
- • Global financial instability could hurt the Indian economy and the company.(p.68)
- • Russia-Ukraine and Middle East conflicts may hurt business; outcome is uncertain.(p.68)
- • Regulatory and policy environment is changing, and labour code impacts are not yet determined.(p.68)
- • High inflation could raise salary and travel costs that may not be passed on to clients.(p.71)
- • Economic slowdown could reduce demand for the company's products.(p.72)
- • Regulatory changes that cannot be predicted(p.352)
- • Intense competition with pricing pressure risk(p.353)
- • Raw material price, inflation and FX volatility(p.352)
- • Global events disrupting demand and supply(p.352)
- • Cyclical macroeconomic conditions affecting demand(p.353)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Chandreshkumar Shankerlal Patel | Promoter | — | — |
| Anjal Chandreshkumar Patel | Promoter | — | — |
| Bhavanaben Chandreshkumar Patel | Promoter | — | — |
| Mr. Chandreshkumar Shankerlal Patel | Promoter | 39.56 % | 29.08% |
| Mrs. Bhavanaben Chandreshkumar Patel | Promoter | 29.52 % | 21.70% |
| Mr. Anjal Chandreshkumar Patel | Promoter | 29.52 % | 21.70% |
| Promoter Group (excluding Promoters, aggregate) | Promoter Group | 1.40 % | 1.03% |
| Mr. Chandreshkumar Shankerlal Patel | Promoter and Managing Director | 39.56 % | — |
| Mr. Anjal Chandreshkumar Patel | Promoter and Whole Time Director and CFO | 29.52 % | — |
| Mrs. Bhavanaben Chandreshkumar Patel | Promoter and Director | 29.52 % | — |
| Mr. Chandreshkumar Shankerlal Patel | Promoter | 39.56% (as at 31/08/2026, Annexure V, page 311) | — |
| Mr. Anjal Chandreshkumar Patel | Promoter | 29.52% (as at 31/08/2026, Annexure V, page 311) | — |
| Mrs. Bhavanaben Chandreshkumar Patel | Promoter | 29.52% (as at 31/08/2026, Annexure V, page 311) | — |
| Chandreshkumar Shankerlal Patel | Promoter | — | — |
| Chandreshkumar Shankerlal Patel | Promoter | — | — |
| Anjal Chandreshkumar Patel | Promoter | — | — |
| Bhavanaben Chandreshkumar Patel | Promoter | — | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
Peer comparison
| Company | EPS | NAV | P/E | P/BV | RoNW |
|---|---|---|---|---|---|
| Johnsoncab Electricals Ltd. THIS ISSUE | 17.81 | 40.47 | 10.20, computed at the offer price | 4.94, computed at the offer price | 42.68% |
| 6.68 | 33.17 | 25.45 | 5.15 | 20.14% | |
| 14.07 | 64.82 | 11.56 | 2.53 | 21.70% | |
Susan Electricals India Ltd | 11.96 | 24.68 | 18.14 | 9.04 | 47.42% |
Blank cells are figures the offer document does not publish. This issue is unlisted, so it has no market price and the document publishes no multiple for it — its P/E and P/BV here are computed at the offer price, on the post-issue share count, and are comparable to a listed peer's.