Johnsoncab Electricals Ltd.
JOHNSONCABSME
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Overview
Johnsoncab Electricals Limited manufactures low-voltage wires and cables under the Johnson Cables brand for power infrastructure, renewable energy, railways, industrial, construction and irrigation applications. It operates two manufacturing units in Mehsana, Gujarat, producing building wires, power and control cables, submersible cables, solar cables and welding cables.
Should you apply? Read our Johnsoncab Electricals IPO analysis →- Opening Date
Oct 30, 2026
- Closing Date
Nov 03, 2026
- Listing Date
Nov 06, 2026
- IPO Type
SME
- IPO Status
Open
- Issue Size
56.02 Cr
- Fresh Issue
56.02 Cr
- Offer for Sale
0 Cr
- Price Band
₹190 - ₹200
- Lot Size
600
IPO Timeline
Financials
Use of IPO funds
Key Performance Indicator
- P/E Ratio
11.58
- EPS
17.27
- ROE
24.14%
- ROCE
21.55%
- RONW
21.54%
- Debt to Equity Ratio
1.94
- PAT Margin
7.64%
- EBITDA Margin
13.55%
- P/B
3.88
Bull vs Bear
Bull case
- •
Two manufacturing units and in-house processes from wire drawing to testing help control quality and serve varied cable needs without outside processors.
- •
Its products serve construction, renewable energy, railways, power and agriculture, reducing dependence on a single end-use market.
- •
Rising renewable-energy and grid investment can widen demand for its existing solar and power cable range.
Bear case
- •
Most raw materials lack long-term supply contracts, while volatile copper and aluminium costs could squeeze margins if higher costs cannot be passed to customers.
- •
A small customer group contributes a large share of sales, so lost orders or weaker terms could reduce revenue, cash flow and factory use.
- •
Employee-intensive production faces attrition, wage pressures and possible work stoppages, which could raise costs or delay deliveries.
Net takeaway
The long-term case rests on a cable maker serving several essential sectors, with renewable energy and infrastructure offering more uses for its products. This needs steady demand, successful capacity additions and reliable supplies, but customer concentration and labour disruptions can hurt operations. The thing to watch over time is working-capital discipline, especially inventory and customer collections, because cash tied up there can increase its need for borrowing.
