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Business Overview
Johnsoncab Electricals Limited (JEL) manufactures low voltage (up to 1.1 kV) wires and cables under the JOHNSON CABLES brand for power transmission and distribution, renewable energy, railways, construction and farming. Started in 2012 as a partnership firm and incorporated in 2020, it runs two manufacturing units in Mehsana, Gujarat with 79,950 KMs installed capacity (79.62% utilised in FY26). Its range covers power, control, house/building, submersible flat, solar/PV and welding cables. It serves private and government customers and holds vendor approvals with Western Railway, UGVCL and JVVNL. Revenue from operations rose to Rs 210.47 Cr in FY26 (FY24: Rs 88.34 Cr) with PAT of Rs 13.42 Cr. It holds ISO 9001, 14001 and 45001 certifications, BIS approvals and a submersible cable patent.
Lots & IPO Size
Johnsoncab Electricals IPO Lot Size
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Ind (Min) | 2 | 1,200 | ₹2,40,000 |
| Ind (Max) | 2 | 1,200 | ₹2,40,000 |
| S-HNI (Min) | 3 | 1,800 | ₹3,60,000 |
| S-HNI (Max) | 8 | 4,800 | ₹9,60,000 |
| B-HNI (Min) | 9 | 5,400 | ₹10,80,000 |
Market Maker
₹1.42 L
Employee
₹0.00
Shareholder
₹0.00
Johnsoncab Electricals IPO Size
Total
₹56 Cr
Fresh Issue
₹56 Cr
(0.28 Cr
Shares)
Offer For Sale
₹0
(0.00
Shares)
Objects of the Issue
Capex: Construction of additional factory shed for expansion (Unit-II)
Capex: Plant & machinery - additional capacity (Rs 937.75 L), new PICC conductor machinery (Rs 733.11 L) and rooftop solar plant (Rs 322.80 L)
Additional working capital requirement
General Corporate Purposes
Total
Key Risk Factors
The company has no long-term agreements with most raw material suppliers and does not hedge copper, aluminium, PVC or XLPE prices; COGS was 85.12% of FY26 revenue from operations.
Key Risk Factors
The company has no long-term agreements with most raw material suppliers and does not hedge copper, aluminium, PVC or XLPE prices; COGS was 85.12% of FY26 revenue from operations.
The company depends on a few customers: the top 10 contributed 66.24% of FY26 revenue (top customer 18.35%), and none are under long-term or exclusive contracts.
Manufacturing is employee intensive (79 permanent and 114 contract staff); attrition was 13.67% in FY26 and 24.44% in the period to Sept 30, 2026, risking wage pressure and disruption.
The registered office and both plants stand on land leased from the promoters (Rs 1-3 lakh per month, 10-year terms) and the depot is rented; lease termination could disrupt operations.
Sales are geographically concentrated: Gujarat contributed 70.91% of FY26 revenue and 76.37% in the five months to Aug 2026, so regional setbacks could hurt revenue.
Debt-to-equity is high at 1.94 as of Aug 31, 2026 with borrowings of Rs 7,756.89 lakhs; inability to service debt or meet loan covenants could hurt financial condition.
The business is seasonal as demand from power, railway and renewable customers slows in the pre-monsoon and monsoon months, causing fluctuations in results and cash flows.
The company may face penalties or liabilities for non-compliance or delayed compliance with GST, income tax and other applicable laws in the last three fiscals.
The company has in the past delayed filing certain forms with the Registrar of Companies under the Companies Act, 2013, which could attract penalties or regulatory action.
Over 25% of revenue comes from the Railway and Renewable Energy sectors; a downturn in these or other customer industries could hurt revenue, cash flows and financial condition.
Johnsoncab Electricals IPO Live Subscription
Live
Updated as on 10/30/2026 3:34:37 PM
| Category | Sub (x) | Offered | Bids | Amount(Cr) |
|---|---|---|---|---|
| QIB | 0.00x | 5,31,000 | 0 | - |
| NII | 1.80x | 4,00,200 | 7,20,000 | 14.40 |
| bHNI | 2.19x | 2,66,800 | 5,83,800 | 11.68 |
| sHNI | 1.02x | 1,33,400 | 1,36,200 | 2.72 |
| Individual | 1.03x | 9,33,000 | 9,57,600 | 19.15 |
| Total | 0.90x | 18,64,200 | 16,77,600 | 33.55 |
Subscription figures exclude Anchor investor and Market Maker portions. Data is sourced from NSE and BSE on an "AS IS" and "AS AVAILABLE" basis without any warranty
Updated as on 10/30/2026 3:34:37 PM
Johnsoncab Electricals IPO Details Live GMP
GMP
₹12
Est. Price
₹212
Est. Gain
6.00%
| Date | GMP (₹) | Est. Price |
|---|---|---|
| 30 Oct | ₹12 (6%) | ₹212 |
| 29 Oct | ₹15 (7.5%) | ₹215 |
| 28 Oct | ₹9 (4.5%) | ₹209 |
Johnsoncab Electricals IPO Peer Comparison
(Rs. in crores)
| Particulars | Johnsoncab Electricals | Prime Cable Industries | JD Cables | Susan Electricals India |
|---|---|---|---|---|
| Revenue | 210.47 | 234.88 | 364.59 | 269.36 |
| PAT | 13.42 | 12.24 | 31.72 | 18.25 |
| EPS (₹) | 17.81 | 6.68 | 14.07 | 11.96 |
| NAV (₹) | 40.47 | 33.17 | 64.82 | 24.68 |
| RONW | 42.68% | 20.14% | 21.70% | 47.42% |
| EBITDA | 11.43% | 10.00% | 13.03% | 11.91% |
| PAT Mrgn | 6.38% | 5.21% | 8.70% | 6.77% |
| PE Ratio | 11.23 | 25.45 | 11.56 | 18.14 |
| Debt to Equity | 2.54 | 0.85 | 0.39 | 1.73 |
All information pertains to FY 2025-26. PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of October 23, 2026 for Peers
Johnsoncab Electricals IPO Financial Performance
(Rs. in crores)
| Particulars | Sep-26 | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|---|
| Revenue | 113.04 | 210.47 | 139.79 | 88.34 |
| Profit | 8.63 | 13.42 | 5.46 | 2.52 |
| Net Worth | 40.08 | 31.44 | 14.24 | 8.88 |
| Borrowings | 77.57 | 79.88 | 41.79 | 32.81 |
| Assets | 132.07 | 126.64 | 64.28 | 48.44 |
| NAV (₹) | 51.58 | 40.47 | 18.99 | 11.84 |
| EPS (₹) | 11.11 | 17.81 | 7.29 | 3.36 |
Key Performance Indicators (KPIs)
1
A1
2
A2
3
A3
All the data pertains to FY 2025-26. PE, PB, and market capitalization are calculated based on the Upper Price Band.
Johnsoncab Electricals IPO Financial Statements
(Rs. in crores)
| Particulars | Sep-26 | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|---|
| Revenue from Ops | 113.04 | 210.47 | 139.79 | 88.34 |
| Other Income | 0.29 | 0.87 | 0.21 | 0.61 |
| Total Income | 113.33 | 211.34 | 140.00 | 88.95 |
| Cost of Revenue | 97.74 | 185.71 | 123.41 | 78.96 |
| Changes in Inventories | -4.68 | -8.84 | -2.92 | -2.58 |
| Employee Expense | 1.00 | 2.28 | 2.88 | 3.57 |
| Finance Costs | 2.74 | 5.21 | 3.82 | 2.32 |
| Depreciation | 1.33 | 2.20 | 1.26 | 0.51 |
| Other Expenses | 3.64 | 6.83 | 4.17 | 2.87 |
| Total Expenses | 101.77 | 193.40 | 132.63 | 85.65 |
| Profit Before Tax | 11.55 | 17.94 | 7.37 | 3.30 |
| Tax Expense | 2.92 | 4.52 | 1.91 | 0.78 |
| Profit After Tax | 8.63 | 13.42 | 5.46 | 2.52 |
| EPS — Basic (₹) | 11.11 | 17.81 | 7.29 | 3.36 |
| EPS — Diluted (₹) | 11.11 | 17.81 | 7.29 | 3.36 |
| Particulars | Sep-26 | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|---|
| Equity Share Capital | 7.77 | 7.77 | 3.00 | 3.00 |
| Reserves & Surplus | 32.31 | 23.67 | 11.24 | 5.88 |
| Total Equity | 40.08 | 31.44 | 14.24 | 8.88 |
| Total Borrowings | 77.57 | 79.88 | 41.79 | 32.81 |
| Trade Payables | 9.08 | 10.84 | 5.87 | 2.55 |
| Other Liabilities | 5.35 | 4.47 | 2.38 | 4.21 |
| Total Equity & Liab | 132.07 | 126.64 | 64.28 | 48.44 |
| Fixed Assets | 32.22 | 31.52 | 15.44 | 14.41 |
| Inventories | 65.46 | 51.15 | 24.61 | 20.57 |
| Trade Receivables | 26.81 | 37.36 | 21.32 | 11.61 |
| Cash & Bank Balances | 0.37 | 0.37 | 0.11 | 0.06 |
| Other Assets | 7.22 | 6.23 | 2.80 | 1.79 |
| Total Assets | 132.07 | 126.64 | 64.28 | 48.44 |
| Particulars | Sep-26 | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|---|
| CF from Operating Activities | 7.65 | -19.70 | -1.73 | -4.27 |
| CF from Investing Activities | -2.60 | -16.69 | -3.39 | -9.91 |
| CF from Financing Activities | -5.05 | 36.65 | 5.16 | 14.13 |
| Net Change in Cash & Equivalents | 0.00 | 0.26 | 0.04 | -0.05 |
| Cash & Equivalents at End of Period | 0.37 | 0.37 | 0.11 | 0.06 |
Promoter Holding
Promoter
100.00%
Public
0.00%
Chandreshkumar Patel
39.56%
Bhavanaben Patel
29.52%
Anjal Patel
29.52%
Anjali Patel
1.29%
Others
0.11%
Management
Chandreshkumar Shankerlal Patel
Age: 57
MD
Remuneration
₹Rs 7.00 lakh/month basic (Rs 84.00 lakh p.a.) + perquisites
Education
Higher Secondary (Class XII)
Prior Experience
Promoter; in business since 1989 (father's submersible-pump trading concern), formed Johnson Cables partnership in 2012; 37 yrs in pump and cable industry.
Anjal Chandreshkumar Patel
Age: 24
WTD & CFO
Remuneration
₹Rs 7.00 lakh/month basic (Rs 84.00 lakh p.a.) + perquisites
Education
B.Tech Electrical Engg (Pandit Deendayal Energy University)
Prior Experience
Promoter; director since Oct 2022; 4 yrs in cable industry; oversees finance, accounts and customer relationships.
Bhavanaben Chandreshkumar Patel
Age: 53
Executive Director
Remuneration
₹Rs 16.80 lakh p.a. (FY27 proposed)
Education
Second Year B.A. (North Gujarat University)
Prior Experience
Promoter; partner in Johnson Cables since 2012; 14+ yrs in wires and cables; heads HR and employee welfare.
Ronakkumar Visabhai Patel
Age: 38
Production Manager
Remuneration
₹Rs 7.48 lakh (FY26 actual paid)
Education
B.E. Electrical (Jodhpur National University); Diploma Electrical Engg (K.D. Polytechnic, Patan)
Prior Experience
With the company since Oct 2012; 15+ yrs in electrical and cable manufacturing; earlier at Kintech Synergy (substation O&M).
Registrar & Lead Managers
Registrar
Maashitla Securities
Lead Managers (1)
Company Details
Name: Johnsoncab Electricals Limited
Address: Survey No. 930, Jagudan Char Rasta, Mehsana-Ahmedabad Highway, At Linch, Jagudan, Mehsana, Gujarat, India, 382710.
Number: +91 96387 54022
Email: office@johnsoncables.com
Website: https://www.johnsoncables.com
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Frequently Asked Questions (FAQs)
What is Johnsoncab Electricals IPO?
Johnsoncab Electricals IPO is a SME IPO having an issue size of
₹56 Crs.
Johnsoncab Electricals IPO is priced at
₹190 - ₹200 per
share.
The
issue opens on 30 Oct 26
and
closes on 03 Nov 26.
When will Johnsoncab Electricals IPO open?
Johnsoncab Electricals IPO opens on
30 Oct 26 and closes on
03 Nov 26.
What is the GMP of Johnsoncab Electricals IPO?
The estimated Grey Market Premium of Johnsoncab Electricals IPO is
₹12 per share (6.00%).
What is the lot size of Johnsoncab Electricals IPO?
The minimum lot size of Johnsoncab Electricals IPO is
600 shares & the minimum application amount
is
Rs.
120000.
When is the allotment of Johnsoncab Electricals IPO?
The allotment date of Johnsoncab Electricals IPO is
04 Nov 26.
What is the listing date of Johnsoncab Electricals IPO?
The listing date of Johnsoncab Electricals IPO is
06 Nov 26.
What is the subscription of Johnsoncab Electricals IPO?
Johnsoncab Electricals IPO is subscribed
0.84 times.
What is the price band of Johnsoncab Electricals IPO?
Johnsoncab Electricals IPO is priced at
₹190 - ₹200 per
share.
How to check allotment status of Johnsoncab Electricals IPO?
Click the allotment link on Johnsoncab Electricals IPO page of IPO360.
How to apply Johnsoncab Electricals IPO in Zerodha?
- Go to Kite App → Tap on Bids → Tap on IPO
- Select the IPO → Tap on apply → Enter UPI ID
- Enter Qty and Price
- Submit the application
- Approve the UPI Mandate on your UPI app
How to apply Johnsoncab Electricals IPO in Groww?
- Go to Groww App → Stocks Section → Select IPO option
- Select the IPO you want to apply
- Enter your bid details and price
- Enter UPI ID & submit
- Approve the UPI Mandate on your UPI app
How to apply Johnsoncab Electricals IPO using ASBA?
- Log in to your bank's net banking portal.
- Navigate to the 'IPO' or 'ASBA' section.
- Select Johnsoncab Electricals IPO from the list of available IPOs.
- Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
- Submit the application.
- Money will remain blocked till the refund date
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