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:-
- Network Operation and Maintenance (“O&M”) Services,
- Electrical Infrastructure and Network Development Works, and
- Metering and Meter Management Services.
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
- Presence Across Electrical Infrastructure Activities with Major Revenue from O&M Services
- Order Book Providing Revenue Visibility
- Majority of Revenue from Repetitive Customers
- Experienced Management Team and Manpower Strength
| Purpose | Amount (₹ Cr) |
|---|---|
| Repayment of a portion of certain borrowings availed by the Company; | ₹6 |
| Funding of Working Capital Requirements | ₹22 |
| General Corporate Purpose | — |
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total Assets | 78 | 51 | 42 |
| Revenue | 157 | 131 | 112 |
| PAT | 10 | 5 | 3 |
| EBITDA | 17 | 8 | 6 |
| Net Worth | 34 | 23 | 17 |
| Reserves | 25 | 23 | 17 |
| Total Borrowing | 16 | 8 | 5 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | 36.50 | 1,480,000 | 54,026,000 |
| NII / HNI | 276.26 | 450,000 | 124,317,000 |
| Retail (RII) | 231.52 | 1,040,000 | 240,776,000 |
| Market Maker | — | 280,000 | — |
| Total | 141.12 | 2,970,000 | 419,119,000 |
* Amount calculated at upper price band (₹130) · ** Total includes all investor categories
- 1 Initiation of Refund 11 Aug 2026
- 2 Credit of Shares to Demat 11 Aug 2026
- The IPO P/E of 14x reflects a strong valuation relative to typical market ranges.
- Pre-issue EPS of ₹13 compares to post-issue EPS of ₹9 after dilution.
This IPO shows moderate investor interest. Review financial details and compare valuation with industry peers before investing.
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