Incorporated in1985, G.V. Electricals Limited is an power distribution infrastructure service provider that provides operation, maintenance, and support services mainly to India’s electricity distribution utilities.
The company operates in three business verticals:-
The company supports maintenance and operations of electrical distribution systems at various voltage levels, including 33 kV, 11 kV, and LT networks. It provides O&M for 33/11 kV substations and deploys technical staff for field tasks like line maintenance, network inspection, and fault rectification.
The company has ISO 9001:2015, 14001:2015, 45001:2018, and SA 8000:2014 certifications for its management systems covering quality, environmental, occupational health and safety, and social accountability.
As of June 30, 2026, the company’s order book includes 34 ongoing projects valued at about ₹ 553.70 crores.
As of May 31 , 2026, the Company had 4,473 employees, including 4,332 permanent staff and 141 contract workers across offices and projects.
Competitive Strength
G.V.Electricals Ltd.’s revenue increased by 19% and profit after tax (PAT) rose by 125% 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 | 78.40 | 51.43 | 42.06 |
| Total Income | 156.66 | 131.36 | 112.03 |
| Profit After Tax | 10.47 | 4.66 | 2.80 |
| EBITDA | 17.05 | 8.04 | 6.14 |
| NET Worth | 33.67 | 23.20 | 17.05 |
| Reserves and Surplus | 25.39 | 23.16 | 17.01 |
| Total Borrowing | 16.47 | 7.84 | 4.95 |
| Amount in ₹ Crore | |||
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| IC Electricals Co.Ltd. | SME | ₹47.91 Cr | ₹99 | 9.42 | ₹174.30 | +76.06% | ₹156.00 |
| Vivid Electromech Ltd. | SME | ₹130.54 Cr | ₹555 | 19.2 | ₹563.05 | +1.45% | ₹1,191.30 |
| INDO SMC Ltd. | SME | ₹91.95 Cr | ₹149 | 16.1 | ₹154.80 | +3.89% | ₹430.70 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment of a portion of certain borrowings availed by the Company; | 6.00 |
| 2 | Funding of Working Capital Requirements | 22.00 |
| 3 | General Corporate Purpose | |
| Total | 28.00 |
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 36.81% |
| ROCE | 31.13% |
| Debt/Equity | 0.49 |
| RoNW | 31.09% |
| PAT Margin | 6.69% |
| EBITDA Margin | 10.90% |
| NAV | 40.66 |
| Price to Book Value | 3.20 |
| Valuation Matric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 12.64 | 9.28 |
| P/E (x) | 10.28 | 14.01 |
| IPO Date | 31 Jul to 4 Aug, 2026 |
| Listing Date | Fri, Aug 7, 2026T |
| Face Value | ₹10 per share |
| Price Band | ₹123 to ₹130 |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 32,50,000 shares (agg. up to ₹42 Cr) |
| Reserved for Market Maker | 2,80,000 shares (agg. up to ₹4 Cr) |
| Fresh Issue (Ex Market Maker) | 27,20,000 shares (agg. up to ₹35 Cr) |
| Offer for Sale | 2,50,000 shares of ₹10 (agg. up to ₹3 Cr) |
| Net Offered to Public | 29,70,000 shares (agg. up to ₹39 Cr) |
| Share Holding Pre Issue | 82,79,190 shares |
| Share Holding Post Issue | 1,12,79,190 shares |
The promoters of the company are Furquan Akhtar, Jawed Akhtar, Sunil Lakshman Vatsa.
| Share Holding Pre Issue | 95.65% |
| Share Holding Post Issue | 67.99% |
As per our analysis and Based on the information we have, this is the output.
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