Susan Electricals India Limited manufactures aluminium and copper-based electrical winding wires conductors and cables including LT AB cables up to 1.1 kV and HT cables for power distribution transformers motor windings overhead lines and underground cabling.It supplies state-owned DISCOMs via tenders and private EPC contractors traders with government revenue at 51.17% for 9M FY26 and 49.40% FY25 alongside trading aluminium rods/wires (38.80% 9M FY26 revenue) and minor job work services all from three Ghaziabad Uttar Pradesh facilities.ISO 9001:2015 45001:2018 and 14001:2015 certified operations support India's growing wires cables market projected at USD 10.32B in 2025E to USD 22.35B by 2035P (8.02% CAGR) serving transmission infrastructure renewables and electrification.
High quality fundamentals with reasonable valuation
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Susan Electricals India Limited manufactures aluminium and copper-based electrical winding wires conductors and cables including LT AB cables up to 1.1 kV and HT cables for power distribution transformers motor windings overhead lines and underground cabling.It supplies state-owned DISCOMs via tenders and private EPC contractors traders with government revenue at 51.17% for 9M FY26 and 49.40% FY25 alongside trading aluminium rods/wires (38.80% 9M FY26 revenue) and minor job work services all from three Ghaziabad Uttar Pradesh facilities.ISO 9001:2015 45001:2018 and 14001:2015 certified operations support India's growing wires cables market projected at USD 10.32B in 2025E to USD 22.35B by 2035P (8.02% CAGR) serving transmission infrastructure renewables and electrification.
Strong business model in a growing sector with favorable industry drivers.
Evaluate market volatility and competitive risks.
+33.9%
Overall demand
Retail Queue
Institutional Queue
Non-Institutional
Subscribed
GYR Capital Market Maker
Merchant banker track record is not available.
Post-listing volume can be low. Trading takes place in large retail lots.
Top 5 customers account for more than 40% of revenues.
Scale of operations is relatively small, with minor audit flags.
Susan Electricals India Limited manufactures aluminium and copper-based electrical winding wires conductors and cables including LT AB cables up to 1.1 kV and HT cables for power distribution transformers motor windings overhead lines and underground cabling.It supplies state-owned DISCOMs via tenders and private EPC contractors traders with government revenue at 51.17% for 9M FY26 and 49.40% FY25 alongside trading aluminium rods/wires (38.80% 9M FY26 revenue) and minor job work services all from three Ghaziabad Uttar Pradesh facilities.ISO 9001:2015 45001:2018 and 14001:2015 certified operations support India's growing wires cables market projected at USD 10.32B in 2025E to USD 22.35B by 2035P (8.02% CAGR) serving transmission infrastructure renewables and electrification.
Electric Equipments
Promoters group
Whole-time Directors & Promoter group
| Company | P/E (x) | ROE (%) | Revenue CAGR (3Y) | EBITDA Margin (%) | Market Cap (₹ Cr) |
|---|---|---|---|---|---|
| Susan Electricals India (IPO) | 10.62x | 47.41% | 98.4% | 11.9% | -- |
| Accord Transformer | 15.63x | -- | -- | -- | ₹90.42 Cr |
| Aimtron Electronics | 24.67x | -- | -- | -- | ₹134.145 Cr |
| Alkosign Limited | -- | -- | -- | -- | ₹13.305 Cr |
| Artemis Electricals | 14.56x | -- | -- | -- | ₹134.775 Cr |
| Aspire & | 10.42x | -- | -- | -- | ₹529.74 Cr |
| Aureate Tradde | 15.64x | -- | -- | -- | ₹203.655 Cr |
| Cell Point | 24.1x | -- | -- | -- | ₹441.465 Cr |
| Cellecor Gadgets | 24.21x | -- | -- | -- | ₹396.525 Cr |
| Comrade Appliances | 24.88x | -- | -- | -- | ₹40.44 Cr |
| Cospower Engineering | 23x | -- | -- | -- | ₹14.865 Cr |
| Creative Peripherals | 46x | -- | -- | -- | ₹272.88 Cr |
| Delta Autocorp | 24.11x | -- | -- | -- | ₹116.175 Cr |
| Electro Force | 15.3x | -- | -- | -- | ₹69.3 Cr |
| Evans Electric | 7.19x | -- | -- | -- | ₹9.675 Cr |
| Focus Lighting | 5x | -- | -- | -- | ₹109.11 Cr |
| Ganesh Green | 23.33x | -- | -- | -- | ₹255.255 Cr |
| Goldstar Power | 29x | -- | -- | -- | ₹82.215 Cr |
| Greenchef Appliances | 14.87x | -- | -- | -- | ₹509.64 Cr |
| ICE Make | 15x | -- | -- | -- | ₹34.485 Cr |
| Indo SMC | 14.86x | -- | -- | -- | ₹337.62 Cr |
| Innovative Ideals | 15x | -- | -- | -- | ₹30.39 Cr |
| Macfos Limited | 15.22x | -- | -- | -- | ₹107.34 Cr |
| Marine Electricals | 10x | -- | -- | -- | ₹570.555 Cr |
| Maxvolt Energy | 20.57x | -- | -- | -- | ₹120.84 Cr |
| Mehai Technology | 44x | -- | -- | -- | ₹0.435 Cr |
| Nitiraj Engineers | 9x | -- | -- | -- | ₹47.91 Cr |
| Osel Devices | 19.77x | -- | -- | -- | ₹1.995 Cr |
| Powerful Technologies | 11x | -- | -- | -- | ₹93.57 Cr |
| Prizor Viztech | 16.69x | -- | -- | -- | ₹53.475 Cr |
| Pro Fx | 12.44x | -- | -- | -- | ₹165.705 Cr |
| Pulz Electronics | 9.22x | -- | -- | -- | ₹5.625 Cr |
| Quality RO | 113x | -- | -- | -- | ₹0.39 Cr |
| Riddhi Display | 14.4x | -- | -- | -- | ₹50.49 Cr |
| RMC Switchgears | 8x | -- | -- | -- | ₹85.23 Cr |
| Saakshi Medtech | 13.84x | -- | -- | -- | ₹183.09 Cr |
| Safa Systems | 29.41x | -- | -- | -- | ₹435.39 Cr |
| Servotech Power | 11x | -- | -- | -- | ₹122.685 Cr |
| Shree Refrigerations | 23.81x | -- | -- | -- | ₹148.08 Cr |
| Shri Ram | 9.8x | -- | -- | -- | ₹89.94 Cr |
| Spectrum Electrical | 17x | -- | -- | -- | ₹179.325 Cr |
| Suich Industries | 7.5x | -- | -- | -- | ₹280.095 Cr |
| Sungarner Energies | 25.94x | -- | -- | -- | ₹25.965 Cr |
| Sunrise Efficient | 9.7x | -- | -- | -- | ₹89.97 Cr |
| Viviana Power | 11.29x | -- | -- | -- | ₹48.84 Cr |
| Vivid Electromech | 24.37x | -- | -- | -- | ₹105.84 Cr |
| Wonder Fibromats | 12x | -- | -- | -- | ₹462.015 Cr |
| Zelio E-Mobility | 20.41x | -- | -- | -- | ₹258.27 Cr |
Good / Improving metrics, margins and cash flows with comfortable leverage.
| Financial Year | Revenue (₹ Cr) | EBITDA Margin (%) | PAT (₹ Cr) | ROCE (%) | ROE (%) | Debt / Equity (x) |
|---|---|---|---|---|---|---|
| FY24 | ₹103.48 Cr | 3.61% | ₹0.75 Cr | 9.47% | 12.08% | 3.99x |
| FY25 | ₹135.73 Cr | 9.06% | ₹5.65 Cr | 17.46% | 31.42% | 2.52x |
| FY26 | ₹269.35 Cr | 11.91% | ₹18.24 Cr | 29.05% | 47.41% | 1.73x |
Subscription Trend (Times)
GMP Trend (₹)
Ideal for investors who:
