Johnsoncab Electricals IPO

SME • BSE SME • Fresh capital only

LISTEDSMEBSE SME

Johnsoncab Electricals

Price band

₹190 – ₹200

Lot size

600 shares

Min investment

₹1,20,000

Issue size

₹56.02 Cr

About the company

Johnsoncab Electricals Limited was incorporated in November 2020. It makes low voltage wires and cables up to 1.1 kV and sells them under the JOHNSON CABLES brand. They are used in power transmission and distribution, renewable energy, railways and other industry. The range covers control cables, power cables, industrial single and multicore cables, housing and building wires, welding cables, solar cables and submersible flat cables. The company runs two plants in Mehsana, Gujarat. Their combined installed capacity was 79,950 KMS a year as of FY2026. The machinery covers wire drawing, annealing, bunching, insulation, extrusion, testing and packaging. It sells through direct orders, tenders and vendor approvals, to both private customers and government bodies. Its products carry ISO and BIS certification. It had 167 employees on 31 March 2026 across production, quality, sales, supply chain, finance and administration.

Johnsoncab Electricals is a Mehsana based maker of low voltage wires and cables. It plans to raise Rs 56.02 crore at the upper band of Rs 200 per share, all of it fresh issue, and its total income was Rs 211.34 crore in FY2026.

IPO details

Issue price: ₹200
Price band: ₹190 – ₹200
Face value: ₹10
Lot size: 600
Min investment: ₹1,20,000
Issue size: ₹56.02 Cr
Sale type: Fresh capital only
Listing on: BSE SME
BSE scrip code: 8071
NSE symbol: JOHNSONCAB.BO

Lot size & investment by category

APPLICATION	LOTS	SHARES	AMOUNT
Retail (Min)	1	600	₹1,20,000
Retail (Max)	1	600	₹1,20,000
HNI (Min)	2	1,200	₹2,40,000

Investor reservation

CATEGORY	RESERVED
QIB	13,26,000 shares (49.86% of the Offer)
NII	4,00,200 shares (15.05% of the Offer)
Retail	9,33,000 shares (35.09% of the Offer)

Objects of the issue

1Funding the capital expenditure requirements of the Company towards: Construction of additional Factory Shed for expansion7.89

2Funding the capital expenditure requirements of the Company towards: Plant & Machinery a) Purchase of additional plant & machinery for increasing the production capacity9.90

3Funding the capital expenditure requirements of the Company towards: Plant & Machinery b) Purchase new machinery to manufacture “Paper Insulated Copper / Aluminium Conductors”6.89

4Funding the capital expenditure requirements of the Company towards: Plant & Machinery Purchase and set up a rooftop solar power plant3.23

5Additional Working Capital Requirement14.00

6General Corporate Purposes

Financials

Rs. Crore • restated

METRIC	31 Aug 2026	31 Mar 2026	31 Mar 2025	31 Mar 2024
Assets	132.07	126.64	64.28	48.44
Total Income	113.33	211.34	140.00	88.95
Profit After Tax	8.63	13.42	5.46	2.52
EBITDA	15.32	24.06	12.14	5.42
NET Worth	40.08	31.44	14.24	8.88
Reserves and Surplus	32.31	23.67	11.24	5.88
Total Borrowing	77.57	79.88	41.79	32.81

Key performance indicators

P/E Ratio

10.2

EPS (₹)

19.60

RoE

24.14%

RoCE

21.55%

RoNW

21.54%

PAT Margin

7.64%

EBITDA Margin

13.55%

Debt / Equity

1.94

NAV (₹)

51.58

✓ Strengths

• Total income grew 50.96% from Rs 140.00 crore in FY2025 to Rs 211.34 crore in FY2026, after Rs 88.95 crore in FY2024.

• Profit after tax rose from Rs 5.46 crore in FY2025 to Rs 13.42 crore in FY2026, and was Rs 2.52 crore in FY2024.

• In the five months ended 31 August 2026, total income was Rs 113.33 crore and profit after tax was Rs 8.63 crore, a PAT margin of 7.64% at the source.

• EBITDA doubled from Rs 12.14 crore in FY2025 to Rs 24.06 crore in FY2026. It was Rs 15.32 crore in the five months ended 31 August 2026, an EBITDA margin of 13.55% at the source.

• Net worth rose from Rs 8.88 crore on 31 March 2024 to Rs 31.44 crore on 31 March 2026 and Rs 40.08 crore on 31 August 2026.

• The P/E is 10.2 at the upper band of Rs 200, based on post-issue EPS of Rs 19.60. The pre-issue P/E is 11.58 on pre-issue EPS of Rs 17.27.

• The issue is fresh only, so all Rs 56.02 crore goes to the company. Rs 27.91 crore is for a factory shed, machinery and a rooftop solar plant.

• The source shows a return on equity of 24.14%, a return on net worth of 21.54% and a return on capital employed of 21.55%.

• The company has two plants with a combined capacity of 79,950 KMS a year, and products with ISO and BIS certification.

⚠ Risks

• The post-issue EPS of Rs 19.60 is higher than the pre-issue EPS of Rs 17.27 even though the issue adds shares, so the two use different earnings periods at the source. Treat the P/E figures of 10.2 and 11.58 with care.

• Borrowing is high against net worth. Total borrowing was Rs 77.57 crore on 31 August 2026 against net worth of Rs 40.08 crore, and debt to equity is 1.94 at the source.

• Total borrowing rose from Rs 32.81 crore on 31 March 2024 to Rs 79.88 crore on 31 March 2026, and total assets rose from Rs 48.44 crore to Rs 126.64 crore.

• The PAT margin is thin at 7.64% at the source, which is typical for a wire and cable maker, and it can move with metal prices.

• Rs 14.00 crore, about 24.99% of the Rs 56.02 crore issue, goes to working capital. The source gives no amount for general corporate purposes.

• The company was incorporated in November 2020, so its record is short. Profit rose from Rs 2.52 crore in FY2024 to Rs 13.42 crore in FY2026, and growth at this pace may not repeat.

• The company sells to government bodies through tenders, and the source gives no customer split, so concentration cannot be checked.

• Promoters Chandreshkumar Shankerlal Patel, Anjal Chandreshkumar Patel and Bhavanaben Chandreshkumar Patel hold 100% before the issue and will hold 73.5% after it.

• This is an SME issue. One lot is 600 shares, which is about Rs 1.20 lakh at the upper band of Rs 200, and SME shares usually trade in low volume after listing.

Promoters & holding

Chandreshkumar Shankerlal Patel, Anjal Chandreshkumar Patel and Bhavanaben Chandreshkumar Patel

Pre-issue promoter holding

100%

Post-issue promoter holding

73.5%

Promoters hold 100% before the issue and will hold 73.5% after it.

Data refreshed 09 Nov 2026, 02:30 pm IST. GMP is unofficial market sentiment, not investment advice.