Business Profile of Orient Cables Limited
Orient cables are established manufacturer and exporter of various high-quality cables and specialize in networking cables and passive networking equipment. The product segment of company is diversified in three segments- network cables and solutions, specialty power and optical fiber cables and solutions and other allied products. The company was founded in 2002 and ISO-certified facility with advanced manufacturing capabilities. The company has expertise in a diverse range of cables, including optical fiber, networking (Cat 5e, Cat 6e), power, control, instrumentation, CCTV, and coaxial cables. The products of company are used in broadband, telecom, data centers, renewable energy, smart building automation and security, system integration, FMEG, and automotive. As of March 31, 2025, company has capacity of 794,976 kms of cables.
Objective of Orient Cables Limited IPO
As per the draft red hearing prospects, the IPO issue consists fresh issue and offer for sale. The fresh issue consists of XXXX shares at the face value of ₨ 1.00 each aggregating up to ₹ 3,200.00 million and OFS consists XXXX shares at face value of ₨ 1.00 each aggregating up to ₨ 3,800.00 million. There are fresh shares issues and OFS by company and main objective of company is in funding of capital expenditure requirements, repayment of outstanding borrowings and general corporate expenses.
Details of Orient Cables Limited IPO
| IPO Open Date | N.A. |
| IPO Close Date | N.A. |
| Basis of Allotment | N.A. |
| Listing Date | N.A. |
| Face Value | ₹1.00 per share |
| Price | N.A. |
| Lot Size | N.A. |
| Total Issue Size | Up to XXXX shares |
| Aggregating up to ₨ 7,000.00 million. | |
| Fresh Issue | Up to XXXX Equity Shares |
| Aggregating up to ₨ 3,200.00 million. | |
| Offer For Sale | Up to XXXX Equity Shares |
| Aggregating up to ₨ 3,800.00 million. | |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE & NSE |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not more than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Orient Cables Limited IPO: Issue Price & Size
The issue price of ORIENT CABLESLIMITED hasn’t been released yet. Upon releasing the dates, the investors can bid between those price ranges. The company has fresh issue and OFS aggregating up to ₹ 7,000.00 million at the price of ₨XXXX.
Launch Date of Orient Cables Limited IPO
The IPO opening date of ORIENT CABLESLIMITED hasn’t been officially announced yet, upon the declaration of dates investor can bid for IPO.
Financial Statements of Orient Cables Limited
| Particulars | March 31 , 2025 | March 31 , 2024 | March 31 , 2023 |
| INCOME | |||
| Revenue from operations | 8,249.58 | 6,577.67 | 5,436.78 |
| Other Income | 69.05 | 72.12 | 24.16 |
| Total Income | 8,318.63 | 6,649.79 | 5,460.94 |
| EXPENSES | |||
| Cost of Material Consumed | 6,559.02 | 5,244.30 | 4,119.37 |
| Changes in inventories of finished goods | ( 113.58 ) | ( 85.14 ) | 135.68 |
| Employee Benefits Expense | 429.32 | 308.55 | 245.76 |
| Finance Costs | 124.97 | 55.67 | 56.01 |
| Depreciation and amortization expenses | 65.56 | 61.10 | 52.78 |
| Other Expenses | 536.24 | 521.72 | 502.63 |
| Total Expenses | 7,601.53 | 6,106.20 | 5,112.23 |
| Profit / ( Loss ) before exceptional items and tax | 717.10 | 543.59 | 348.71 |
| Exceptional Items | – | – | – |
| Profit / ( loss ) before tax | 717.10 | 543.59 | 348.71 |
| Tax expense | |||
| ( 1 ) Current Tax | 172.51 | 153.03 | 88.42 |
| ( 2 ) Deferred Tax | 11.68 | ( 10.13 ) | 0.70 |
| Profit / ( Loss ) for the year | 532.91 | 400.69 | 259.59 |
Key financial ratios of Orient Cables Limited
| Particulars | Unit | Fiscal 2025 | Fiscal 2024 | Fiscal 2023 |
| Revenue from operations | in million | 8,249.58 | 6,577.67 | 5,436.78 |
| Two year CAGR ( revenue from operations ) | % | 23.18 % | NA | NA |
| EBITDA | in million | 838.58 | 588.24 | 433.34 |
| EBITDA Margin | % | 10.17 % | 8.94 % | 7.97 % |
| Profit after tax | in million | 532.91 | 400.69 | 259.59 |
| PAT Margin | % | 6.41 % | 6.03 % | 4.75 % |
| ROCE | % | 36.46 % | 41.13 % | 35.93 % |
| ROE | % | 34.58 % | 37.26 % | 34.81 % |
| Net Working Capital Days | Days | 27 | 14 | 12 |
| Net Debt / Equity Ratio | Times | 0.63 | 0.23 | 0.38 |
| Net Debt / EBITDA | Times | 1.36 | 0.49 | 0.77 |
| Gross Fixed Asset Turnover Ratio | Times | 6.56 | 8.44 | 8.13 |
Promoters & Shareholding Orient Cables Limited IPO
As of date, according to the DRHP filed with SEBI promoters and promoter group have 100.00% shareholding in company.
| Name of Shareholders | Number of Equity Shares | Percentage of Equity share |
| Promoters (A) | ||
| Vipul Nagpal | 24,722,800 | 24.23% |
| Garima Nagpal | 5,788,000 | 5.67% |
| Vardaan Nagpal | 100,000 | 0.10% |
| Vipul Family Trust | 35,712,000 | 35.00% |
| Garima Family Trust | 35,712,000 | 35.00% |
| Members of Promoter (B) | ||
| Darshan Lal Nagpal | 100 | N.A |
| Prem Nagpal | 100 | N.A |
| Total ( A + B ) | 102,035,000 | 100% |
Should You Subscribe To Orient Cables Limited IPO
While investing or subscribing to any IPO, consider the investment rationales related to the company. Hence, here you can find out the strength of the company that will be its growth factors. And also check the risk factors that can affect the growth and operational efficiency of the company.
Competitive Strengths of Orient Cables Limited IPO
Leading specialty cable manufacturers
As per the 1 Lattice report, company is one of India’s top five players in the networking cables industry with a market share of approximately 22% in Fiscal 2025. The company is engaged in the manufacturing of cables and allied products and solutions, with a primary focus on telecommunications and IT industries. The company also built strong relationships with its customers owing to their technical capabilities, track record, timely deliveries and consistent quality of products.
Diversified portfolio
The company has manufacture a diverse range of products which are customized to the specifications of customers, under the following broad segments-Networking Cables and Solutions, Specialty Power, Optical Fibre Cable and Solutions and Other Allied Products. These products have wide range of applications in high growth sectors including renewable energy, data centers, E-mobility, FMEG, defence, aerospace and railways.
Long standing customer relationships
The company has nearly two decades of business operations, established long-term relationships with customers across industries. It maintained relationships with their top ten customers for an average period of over eight years, in an industry marked by high entry barriers. The long-term association with customers offers significant competitive advantages such as revenue visibility, industry goodwill, a deep understanding of the requirements of customers.
Strategically located Manufacturing Facilities
The company has strategically located manufacturing facilities and one upcoming facility located at an industrial area in Bhiwadi, Rajasthan with proximity to the inland container depots at Garhi Harsaru and Rewari in Haryana through which company export its products and import raw materials. To enhance efficiency, improve quality, and reduce costs, company has gradually integrated it operations by establishing a comprehensive in-house processing plant for copper which help in reduce dependence on external suppliers, maintain better control over raw material quality and lower overall costs.
Risk Factors of Orient Cables Limited IPO
Raw material volatility
Any significant increases or fluctuations in prices of, or shortages of, or delays or disruptions in the supply of primary raw materials, of which over 77% were sourced from our top 10 suppliers in Fiscal 2025, could adversely impact its estimated costs, project timelines, and expenditures, and may have a material adverse effect on business, financial condition, results of operations and cash flows.
Key client’s risk
The company derives more than 74% of its revenue from operations from their top 10 customers as of Fiscal 2025. If one or more of such customers choose not to source their requirements from company or to terminate contracts or purchase orders, company business, cash flows, financial condition and results of operations may be adversely affected.
Strict quality norms
The company faces an inherent business risk of exposure to product defects and subsequent liability claims if the use of any of products results in personal injury or property damage. The quality standards imposed by customers are dependent suppliers from which company source raw materials. Any product defect issues or failure by raw material suppliers to comply with quality standards may lead to the cancellation of existing and future orders.
Heavy working capital requirement
The operations of company require continuous working capital to maintain adequate levels of raw materials, stores, finished goods, and trade receivables. A large portion of sales is made on credit, with payment terms typically up to 120 days. Delays in collecting receivables, especially during adverse economic conditions or customer-specific challenges, could constrain company cash flows and limit ability to fund operations.
Orient Cables Limited IPO Grey Market Premium
Grey market premium is the premium quoted over the IPO issue price. GMP shows that investors are ready to pay above the upper band of the IPO issue price. GMP is determined in the grey market as per the demand and supply of the shares in the primary market. A grey market is that unofficial ecosystem of unlisted companies’ stocks that start trading even before the launch of the IPO to the date of its listing.
Also Read: What is Grey Market Premium in IPO: How is GMP Calculated & Reliable
However, GMP is not a reliable factor, as it keeps fluctuating as per the demand and supply of shares in the primary market. There are numerous factors that affect the stock market in India and individual stock prices of different companies that are already listed and trading in the secondary market. However, for an IPO-bounded company, you can consider the GMP as the speculative listing price of the share
According to various online sources, the Grey Market Premium or GMP of the ORIENT CABLES LIMITED is trading around Rs XX in the grey market. It means shares are trading at the upper band issue price of Rs XX with a premium in the grey market and may list around the same price.
