Dhoot Transmission Ltd.
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Overview
Dhoot Transmission Limited is an automotive components manufacturer supplying wiring harnesses, cables, terminals and electronic parts used across two-wheelers, light and commercial vehicles, off-road machinery, appliances and industrial applications, supported by in-house design, engineering and R&D and a global manufacturing footprint.
Opening Date
Aug 10, 2026
Closing Date
Aug 12, 2026
Listing Date
Aug 17, 2026
IPO Type
Mainboard
IPO Status
Closed
Issue Size
3066.89 Cr
Fresh Issue
1400 Cr
Offer for Sale
1666.89 Cr
Price Band
₹829 - ₹871
Lot Size
17
IPO Timeline
Financials
Revenue
Profit After Tax (PAT)
Use of IPO funds
Key Performance Indicator
P/E Ratio
41.36
EPS
21.06
ROE
16.3%
ROCE
19.14%
RONW
16.55%
Debt to Equity Ratio
0.35
PAT Margin
8.7%
EBITDA Margin
15.71%
P/B
5.82
Bull vs Bear
Bull case
- •
Wiring harness focus can benefit from rising wiring content in vehicles, so each vehicle can mean more parts per sale, if execution keeps pace.
- •
Long customer relationships and deep dependence on top OEMs can create sticky supply positions, making it harder for new suppliers to displace them quickly.
- •
High India capacity use and new plants can lift supply ability, so growth is less limited by factory space if ramp-ups go smoothly.
Bear case
- •
Heavy dependence on India’s 2W and 3W cycle means a sector slowdown can quickly hit revenue, cash flow, and factory utilization.
- •
Top-10 customers contribute 80.93% of revenue, so losing one large OEM can create a sudden volume and margin shock.
- •
No firm long-term volume commitments means forecasts can change fast, leaving customized tooling and capacity underused and hurting profitability.
Net takeaway
The long-term story is a scaled wiring-harness supplier tied closely to India’s major 2W and 3W makers, with capacity expansion to support demand. That can work well if customers keep awarding programs and the business adapts to changing wiring technology, but concentration is high and orders aren’t guaranteed. The thing to watch over time is customer concentration and how stable their order schedules stay, especially around platform changes and EV shifts.
