Incorporated in 2007, Susan Electricals India Ltd. is engaged in the manufacturing of aluminium and copper-based electrical winding wires, conductors, and power cables in various specifications, sizes, and configurations.
The company’s product portfolio includes winding wires and strips used in transformers, motors, alternators, coils, and other electrical equipment, as well as aluminium stranded conductors used in overhead power distribution networks.
The company also manufactures power cables, including low tension (LT) cables such as PVC and XLPE insulated cables (up to 1.1 kV), including Low Tension Aerial Bunched (LT AB) cables, and high tension (HT) cables used in higher-grade power distribution systems.
Its customers primarily include state-owned electricity distribution utilities (DISCOMs), infrastructure and EPC companies, and businesses operating in the electrical wires, cables, and conductors segment.
In addition to manufacturing activities, the company undertakes trading of aluminium wires and rods used as key raw materials and also provides job work services related to the processing of winding wires and strips.
The company operates three manufacturing facilities in Ghaziabad, Uttar Pradesh, located at Site-IV Industrial Area, Sahibabad, and SSGT Road. During Fiscal 2026, it sold its products across 7 states in India, including Uttar Pradesh, Jharkhand, Madhya Pradesh, and Karnataka.
As of April 30, 2026, the company had 216 permanent employees.
Competitive Strengths:
Susan Electricals India Ltd.’s revenue increased by 98% and profit after tax (PAT) rose by 223% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 130.05 | 73.68 | 38.08 |
| Total Income | 269.96 | 136.05 | 103.59 |
| Profit After Tax | 18.25 | 5.65 | 0.76 |
| EBITDA | 32.08 | 12.00 | 3.64 |
| NET Worth | 38.48 | 17.98 | 6.21 |
| Reserves and Surplus | 22.89 | 12.96 | 3.23 |
| Total Borrowing | 66.72 | 45.27 | 24.79 |
| Amount in ₹ Crore | |||
| Company | Issue Type | Issue Size | Issue Price | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|
| Systematic Industries Ltd. | SME | ₹115.60 Cr | ₹195 | ₹196.45 | +0.74% | ₹179.50 (-3.60%) |
| Prime Cable Industries Ltd. | SME | ₹40.04 Cr | ₹83 | ₹78.30 | -5.66% | ₹111.35 (+1.32%) |
| JD Cables Ltd. | SME | ₹95.99 Cr | ₹152 | ₹157.90 | +3.88% | ₹202.65 (+2.48%) |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding of Capital expenditure towards Expansion of existing Manufacturing Facility situated at Plot No.18/31, Sahibabad, Ghaziabad, Uttar Pradesh | 10.29 |
| 2 | Funding of Working Capital Requirements | 33.00 |
| 3 | General corporate purposes | |
| Total | 43.29 |
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 64.64% |
| ROCE | 29.05% |
| RoNW | 47.42% |
| PAT Margin | 6.77% |
| EBITDA Margin | 11.91% |
| Price to Book Value | 5.15 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 11.70 | 8.97 |
| P/E (x) | 10.85 | 14.15 |
| IPO Date | 11 to 15 Jun, 2026 |
| Listing Date | Thu, Jun 18, 2026T |
| Face Value | ₹10 per share |
| Price Band | ₹120 to ₹127 |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 55,42,000 shares (agg. up to ₹70 Cr) |
| Reserved for Market Maker |
4,58,000 shares
(agg. up to ₹6 Cr) |
| Fresh Issue (Ex Market Maker) | 42,84,000 shares (agg. up to ₹54 Cr) |
| Offer for Sale | 8,00,000 shares of ₹10 (agg. up to ₹10 Cr) |
| Net Offered to Public | 50,84,000 shares (agg. up to ₹65 Cr) |
| Share Holding Pre Issue | 1,55,88,795 shares |
| Share Holding Post Issue | 2,03,30,795 shares |
Vishal Jain and Mahak Jain are the company promoters.
| Share Holding Pre Issue | 92.47% |
| Share Holding Post Issue | 66.97% |
As per our analysis and Based on the information we have, this is the output.
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