Incorporated in 1972, Kanohar Electricals Limited is engaged in the manufacturing of transformers in India. The Company caters to industries such as power transmission, railways, renewable energy and power distribution.
The Company operates through two business segments: (i) transformer manufacturing and (ii) engineering, procurement and construction (EPC). It is one of four manufacturers in India certified by the Research Designs and Standards Organisation (RDSO), the research and development arm of Indian Railways, for manufacturing 100 MVA 132 kV Scott transformers.
Kanohar Electricals Limited operates two manufacturing facilities in Rithani, Meerut, Uttar Pradesh (“Rithani Manufacturing Facility”) and Gangol, Meerut, Uttar Pradesh (“Gangol Manufacturing Facility” and collectively with Rithani Manufacturing Facility, “Manufacturing Facilities”) with an aggregate transformer manufacturing capacity of 19,200 MVA as on March 31, 2026.
The Company has five regional offices located in NCT of Delhi, Mumbai, Maharashtra, Kolkata, West Bengal, Bangalore, Karnataka, and Chennai, Tamil Nadu, and a team of over 526 employees to cater to our customers across India.
| Purpose | Amount (₹ Cr) |
|---|---|
| Funding the capital expenditure requirements of Company | ₹64 |
| Funding the incremental working capital requirements of Company | ₹155 |
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total Assets | 614 | 432 | 323 |
| Revenue | 663 | 457 | 281 |
| PAT | 130 | 65 | 18 |
| EBITDA | 180 | 93 | 31 |
| Net Worth | 373 | 243 | 178 |
| Reserves | 358 | 239 | 174 |
| Total Borrowing | 39 | 32 | 42 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | Not more than 50% of the Net Offer | — |
| NII / HNI | — | Not less than 15% of the Net Offer | — |
| Retail (RII) | — | Not less than 35% of the Net Offer | — |
* Amount calculated at upper price band (₹632) · ** Total includes all investor categories
- 1 Initiation of Refund 15 Sep 2026
- 2 Credit of Shares to Demat 15 Sep 2026
- The IPO P/E of 39x reflects a moderate valuation relative to typical market ranges.
- Pre-issue EPS of ₹17 compares to post-issue EPS of ₹16 after dilution.
This IPO has relatively lower interest or stretched valuation. Proceed with thorough research and caution.
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