- POSITIVE
Annual Revenue Kanohar Electricals Mar-2026 Annual Revenue is Rs 663 Cr which is growth of 45.0% YoY.
- POSITIVE
Annual Net Profit Kanohar Electricals Mar-2026 Annual Net Profit is Rs 130 Cr which is growth of 99.2% YoY.
Kanohar Electricals was incorporated on November 13, 1972. The company is a leading domestic transformer manufacturer serving high-growth sectors such as power transmission, railways, renewable energy, and power distribution. It holds rare industry certifications, including short-circuit testing for large transformers and RDSO approval, demonstrating strong technical capabilities and industry leadership
| Bidding Dates |
|---|
| 08 Sep 2026 - 10 Sep 2026 |
| Subscription |
|---|
| 90.59x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹13,823 | 1 | 13 | 23 | 16.7 M | ₹601 - ₹632 | 78.64 % | ₹10,039.6 M - ₹10,557.4 M | RHP DOC |
Kanohar Electricals IPO SUBSCRIPTION STATUS
10 Sep '26Total90.59x
Retail Individual Investor20.51x
HNI (NII) Investors87.74x
Qualified Institutional Buyers215.37x
Kanohar Electricals IPO overall subscription rate was 90.59 times the total available shares
Kanohar Electricals IPO retail subscription rate was 20.51 times in the retail segment
Kanohar Electricals IPO non-institutional investor subscription rate was 87.74 times in the non-institutional investor category
Kanohar Electricals IPO Qualified Institutional Bidder subscription rate was 215.37 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
10 Sep 2026 (Day 3) | 20.51x | 87.74x | 215.37x |
09 Sep 2026 (Day 2) | 8.49x | 19.22x | 6.5x |
08 Sep 2026 (Day 1) | 3.3x | 4.87x | 0.03x |
Kanohar Electricals FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY26 | 653.8 | 129.7 | 25.8 | 22.6 | 27.6% |
| FY25 | 450.6 | 65.1 | 79.4 | 71.2 | 20.7% |
| FY24 | 276.7 | 17.8 | -16.3 | -17.9 | 11.2% |
Kanohar Electricals IPO SUBSCRIPTION STATUS DETAILS
Kanohar Electricals had 16.7 M shares on offer
Kanohar Electricals IPO offer price was in the range ₹601 - ₹632
Kanohar Electricals IPO minimum Investment was ₹13823
Kanohar Electricals IPO issue size was ₹ 10,039.6 M - ₹ 10,557.4 M
Kanohar Electricals had a minimum lot size of 23 Shares per application
Kanohar Electricals NUMBER OF SHARES ON OFFER
Total16.7 M
Fresh Issue4.7 M
Offer for Sale12.0 M
Post Issue Promoter Holding %78.64 %
Kanohar Electricals IPO IMPORTANT DATES
| Issue Open Date | 08 Sep 2026 |
| Issue close Date | 10 Sep 2026 |
| Allotment Date | 11 Sep 2026 |
| Refund Date | 15 Sep 2026 |
| Demat Account Credit Date | 15 Sep 2026 |
| Listing Date | 16 Sep 2026 |
| Listing on Exchange(s) | NSE and BSE |
| Kanohar Electricals Allotment Status | Exchange/ Registrar |
Kanohar Electricals IPO subscription opened on 08 Sep 2026, and closed on 10 Sep 2026
IPO allotment for Kanohar Electricals was finalized on Friday, 11 Sep 2026
IPO listing for Kanohar Electricals was on NSE and BSE on Wednesday, 16 Sep 2026
Kanohar Electricals IPO LISTING GAINS
| Issue Price (adjusted) | 632.0 |
| Listing Open Price | 685.5 |
| Listing Close Price | 751.5 |
| Listing Gain% | 8.5% |
| Current Gain% | 36.5% |
Kanohar Electricals Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Kanohar Electricals Ltd. | 862.6 | 6830.3 | 52.6 | 0.5 | 10.3 | 34.8 | 21.1 | 662.9 | 45 | 129.7 | 99.2 | 16.4 | 99.2 |
| ABB India Ltd. | 7052.5 | 149448.4 | 50 | 11 | 21.3 | 12.2 | 13555.1 | 8.1 | 1668.3 | -10.9 | 141 | ||
| Bharat Heavy Electricals Ltd. | 419 | 145881 | 60 | 0.1 | 4.1 | 6.1 | 2.1 | 34589.8 | 20.1 | 1600.3 | 199.7 | 7 | 739.4 |
| CG Power and Industrial Solutions Ltd. | 886 | 139586.5 | 111.7 | 4.5 | 10.9 | 15.1 | 9.5 | 12662.2 | 25.7 | 1206.3 | 23.8 | 7.9 | 24.7 |
| Hitachi Energy India Ltd. | 31035 | 138330.4 | 120.2 | 0.9 | 15.1 | 19.1 | 8.2 | 8387.6 | 30.2 | 987.8 | 157.3 | 258.1 | 127.7 |
| Siemens Ltd. | 3877 | 138067.9 | 42.2 | 1.3 | 7.5 | 19.9 | 12.9 | 25598.6 | 10.5 | 2751.6 | 1.3 | 92 | 33.7 |
Annual
Balance Sheet
Ratios
Cash Flow
Kanohar Electricals annual results: revenue, profit, P&L, and margins as of Mar 2026 – 11 year history
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| Indicator | Graph | Mar '26 | Mar '25 | Mar '24 |
|---|---|---|---|---|
| 662.9 | 457.3 | 281.1 | ||
Operating Exp. Ann. | 473.4 | 357.2 | 245.6 | |
Operating Profit Ann. | 180.4 | 93.4 | 31.1 | |
OPM Ann. % | 27.22% | 20.42% | 11.05% | |
| 489.3 | 369.5 | 255.3 | ||
EBITDA Ann. | 189.4 | 100.1 | 35.5 | |
EBITDA Ann. margin % | 28.58% | 21.88% | 12.63% | |
Interest Ann. | 12.9 | 9.4 | 6.5 | |
Depr. | 3 | 2.9 | 3.2 | |
PBT Ann. | 173.6 | 87.8 | 25.9 | |
Tax Ann. | 43.8 | 22.7 | 8.1 | |
| 129.7 | 65.1 | 17.8 | ||
Net Profit Ann. | 129.7 | 65.1 | 17.8 | |
NPM Ann. % | 19.84% | 14.45% | 6.41% | |
EPS Adj. latest Ann. | 16.4 | 8.2 | 2.2 |
*All financials are in INR Cr and price data in INR
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Total Rev. Ann.
1Y CHG
45%
2Y CAGR
53.6%
Net Profit Ann.
1Y CHG
99.2%
2Y CAGR
169.9%
Operating Exp. Ann.
1Y CHG
32.5%
2Y CAGR
38.8%
Kanohar Electricals INFORMATION ON IPO ISSUE
About Kanohar Electricals
Kanohar Electricals was incorporated on November 13, 1972. The company is a leading domestic transformer manufacturer serving high-growth sectors such as power transmission, railways, renewable energy, and power distribution. It holds rare industry certifications, including short-circuit testing for large transformers and RDSO approval, demonstrating strong technical capabilities and industry leadership
Object of the Issue
- Funding the capital expenditure requirements of the company towards purchase of new machinery and equipment for the manufacturing facility located in Meerut, Uttar Pradesh
- Funding the capital expenditure requirements of the company towards civil construction and interior development of an office building at the Gangol manufacturing facility
- Funding the capital expenditure requirements of the company towards enhancing the sustainability initiatives by setting up of solar power plants at their manufacturing facility located in Rithani, Meerut, Uttar Pradesh and Gangol Manufacturing Facility, and purchasing electric trucks and forklifts for handling and movement at the Gangol manufacturing facility.
- Funding incremental working capital requirements of the company
- General corporate purposes
Kanohar Electricals - PROMOTERS
| Name |
|---|
| Dinesh Singhal |
| Adesh Singhal |
| Vivek Singhal |
| Abhishek Singhal |
| Virat Singhal |
| Aditya Singhal |
Kanohar Electricals - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Dinesh Singhal | Chairman & Managing Director |
| Adesh Singhal | Whole-time Director |
| Vivek Singhal | Whole-time Director |
| Abhishek Singhal | Whole-time Director |
| Sangeeta Khorana | Independent Director |
| Anil Bhardwaj | Independent Director |
| Ashok Kumar Goel | Independent Director |
| Ram Kumar Chugh | Independent Director |
Kanohar Electricals Book Running Lead Manager
Nuvama Wealth Management Limited
kanohar.ipo@nuvama.com
IIFL Capital Services Limited
kanoharelectricals.ipo@iiflcap.com
Kanohar Electricals Registrar to the Offer
MUFG Intime India Private Limited
kanoharelectricals.ipo@in.mpms.mufg.com
Kanohar Electricals Strengths
Transformer testing capability
The company has conducted large-scale short-circuit testing for over 200 transformer ratings at reputed government laboratories, ensuring high safety and reliability standards. It holds rare certifications for 500 MVA 400 kV transformers and RDSO approval, enabling participation in large, high-value power and railway projects
Strength
EPC services
The company expanded into EPC services for substations and transmission lines to increase its presence in power transmission and distribution. This integration allows it to offer single-window turnkey solutions alongside transformer manufacturing for projects up to 400 kV
Strength
Integrated manufacturing facilities
The company operates two backward-integrated manufacturing facilities in Meerut with a total capacity of 19,200 MVA, capable of producing transformers up to 500 MVA and 400 kV. It also manufactures customized high-quality transformers and offers advanced, environmentally friendly GIS solutions through in-house technology and a technical collaboration
Strength
Kanohar Electricals Risks
Dependent on transmission utilities
The company’s transformer manufacturing business derives a significant share of revenue from supplying power transformers to state transmission utilities. Demand is closely linked to government policies and power sector growth, and any policy changes or economic slowdown could adversely impact operations and financial performance
Risk
Project execution & cost over-run risks
The company’s EPC projects for transmission lines and substations involve long execution periods, exposing it to risks of time and cost overruns. Delays due to regulatory, operational, financial, or external factors may lead to penalties, claims, and adverse impacts on profitability and financial performance
Risk
Liability risks
The company operates under strict quality standards and inspections, and any failure to maintain product or supplier quality may lead to order cancellations, recalls, or liability claims. Product defects causing injury or damage could adversely impact operations, reputation, and overall financial performance
Risk
IPO FAQs
This IPO consists of an offer for sale of up to Rs 755.7 crore, of 11,957,915 shares. It also consists of a fresh issue of Rs 300.0 crore.
The promoters of the company are Dinesh Singhal, Adesh Singhal, Vivek Singhal, Abhishek Singhal, Virat Singhal and Aditya Singhal.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 601.0 - 632.0.
The IPO application opens on Sep 08, 2026 and closes on Sep 10, 2026.
The minimum lot size for the IPO is 23. The maximum lot size for the IPO is 299.
For all category investors, the minimum application amount for this IPO is Rs. 13,823.0, the maximum value for this IPO is Rs 188,968.0.
This IPO will be allotted on Sep 11, 2026.
The refund will be credited to your account on Sep 15, 2026.
The allotted shares will be credited to your demat on Sep 15, 2026.
Kanohar Electricals Ltd.’s shares listed on the stock exchanges on Sep 16, 2026.