Orient Cables (India) IPO

Mainboard • Equity • Fresh capital cum OFS

LISTEDMAINBOARDEquity

Orient Cables (India)

Price band

₹258 – ₹272

Lot size

55 shares

Min investment

₹14,960

Issue size

₹552 Cr

About the company

Orient Cables (India) Limited was started in September 2005. It makes networking cables and passive networking equipment, and has nearly two decades of experience in this line. Passive equipment means the connectors, jacks and cords that carry a signal without needing power of their own. Its customers are in broadband, telecommunications, data centres, renewable energy, smart building automation and security, system integration, fast moving electrical goods and automotive. Its range covers CAT5, CAT5e, CAT6 and CAT6A networking cables, patch cords, CCTV and coaxial cables, instrumentation and control cables, power cables, optical fibre cables, fibre patch cords, keystone jacks, power strips and power cords, along with products made to a customer's own specification. As on 30 June 2026 it had an installed capacity of 895,776 km. It has been widening its range into E-beam irradiated specialty cables, solar junction boxes, tethered drone systems, cable harnesses, power cords and EV charging cables and guns, the last of which are TÜV certified. According to the 1Lattice Report it was among the top four networking cable players in India.

Orient Cables (India) Limited manufactures networking cables and passive networking equipment, covering CAT5 to CAT6A cables, optical fibre, coaxial, instrumentation and power cables. With installed capacity of 895,776 km, it is among India's top four networking cable makers and has expanded into TÜV-certified EV charging cables and solar junction boxes.

IPO details

Issue price: ₹272
Price band: ₹258 – ₹272
Face value: ₹1
Lot size: 55
Min investment: ₹14,960
Issue size: ₹552 Cr
Sale type: Fresh capital cum OFS
Listing on: BSE, NSE
BSE scrip code: 8001
NSE symbol: ORIENTCABL.NS

Lot size & investment by category

APPLICATION	LOTS	SHARES	AMOUNT
Retail (Min)	1	55	₹14,960
Retail (Max)	13	715	₹1,94,480
S-HNI (Min)	14	770	₹2,09,440
B-HNI (Min)	67	3,685	₹10,02,320

Investor reservation

CATEGORY	RESERVED
QIB	1,01,47,056 shares (50.00% of the Offer)
NII	30,44,118 shares (15.00% of the Offer)
Retail	71,02,940 shares (35.00% of the Offer)

Objects of the issue

1Funding of capital expenditure requirements of our Company towards purchase of machinery, equipment and civil works at our Manufacturing Facilities91.50

2Repayment or prepayment, in full or in part, of all or a portion of certain outstanding borrowings availed by our Company155.50

3General Corporate Purposes

Financials

Rs. Crore • restated

METRIC	30 Jun 2026	31 Mar 2026	31 Mar 2025	31 Mar 2024
Assets	743.19	580.79	427.19	293.22
Total Income	490.94	1,181.67	831.86	664.98
Profit After Tax	32.78	53.56	53.32	40.07
EBITDA	54.89	96.40	83.86	58.82
NET Worth	268.76	235.84	180.70	127.54
Reserves and Surplus	257.35	224.34	170.50	126.52
Total Borrowing	258.46	234.19	113.45	36.73

Key performance indicators

P/E Ratio

23.61

EPS (₹)

13.04

RoE

13.17%

RoCE

10.36%

RoNW

13.17%

PAT Margin

6.77%

EBITDA Margin

11.22%

Debt / Equity

0.95

NAV (₹)

26.34

✓ Strengths

• Sales have grown strongly, from Rs 664.98 crore in FY2024 to Rs 831.86 crore in FY2025 and Rs 1,181.67 crore in FY2026, a rise of 42% in the last year.

• EBITDA has improved from Rs 58.82 crore in FY2024 to Rs 96.40 crore in FY2026.

• It is among the top four networking cable players in India according to the 1Lattice Report.

• Installed capacity is substantial at 895,776 km as on 30 June 2026.

• The product range is wide, from CAT networking cables and optical fibre to instrumentation, control and power cables, so it can serve a customer across several needs.

• Its end markets include data centres, broadband and renewable energy, all of which are expanding.

• It has moved into newer lines including E-beam irradiated specialty cables, solar junction boxes, tethered drone systems and TÜV certified EV charging cables and guns.

• Net worth has more than doubled in two years, from Rs 127.54 crore in FY2024 to Rs 268.76 crore as on 30 June 2026.

⚠ Risks

• Profit has stopped growing. Profit after tax was Rs 53.32 crore in FY2025 and Rs 53.56 crore in FY2026, essentially flat, even though sales rose 42% over the same year.

• Borrowing has risen about seven times in two years, from Rs 36.73 crore in FY2024 to Rs 234.19 crore in FY2026 and Rs 258.46 crore by 30 June 2026, a debt to equity ratio of 0.95.

• Return on capital employed is only 10.36%, which is low for the capital now tied up in the business.

• The valuation figures do not agree with each other. At the upper band of Rs 272 the source shows a post issue EPS of Rs 13.04 and a P/E of 23.61, but those two cannot both be right, so the earnings multiple on offer cannot be pinned down from the published data.

• The profit margin is thin at 6.77% and has fallen as revenue has grown, which suggests the extra sales are being won at lower margin.

• Copper is the main raw material and its price moves sharply, which is difficult to pass on where orders are already priced.

• The newer products such as EV charging cables, drone systems and solar junction boxes are still small and unproven contributors.

• This is a fresh issue combined with an offer for sale, and promoter holding falls from 98.38% to 80.71%.

Promoters & holding

Vipul Nagpal, Garima Nagpal, Vardaan Nagpal, Vipul Family Trust and Garima Family Trust

Pre-issue promoter holding

98.38%

Post-issue promoter holding

80.71%

Promoters hold 98.38% before the issue and will hold 80.71% after it.

Data refreshed 07 Nov 2026, 04:50 pm IST. GMP is unofficial market sentiment, not investment advice.