Financial Performance
Orient Cables reported total income of Rs. 1,181.67 crore in FY2026, compared with Rs. 831.86 crore in FY2025 and Rs. 664.98 crore in FY2024. Despite strong revenue growth, profit after tax was nearly unchanged at Rs. 53.56 crore against Rs. 53.32 crore in FY2025. PAT had stood at Rs. 40.07 crore in FY2024.
EBITDA increased to Rs. 96.40 crore in FY2026 from Rs. 83.86 crore in FY2025 and Rs. 58.82 crore in FY2024. For the quarter ended June 2026, total income reached Rs. 490.94 crore, while PAT and EBITDA stood at Rs. 32.78 crore and Rs. 54.89 crore, respectively.
Net worth improved to Rs. 268.76 crore by June 2026. However, borrowings increased considerably alongside business expansion, making the proposed debt repayment an important component of the issue.
Profitability and Return Ratios
The FY2026 return on equity and return on net worth were 25.84%, while return on capital employed stood at 23.82%. The debt-to-equity ratio was 0.94.
Performance strengthened during the June quarter, with PAT margin improving to 6.77% from 4.55% in FY2026. EBITDA margin also increased to 11.22% from 8.23%. Investors should determine whether these improved quarterly margins can be sustained as volumes expand.
Valuation Assessment
At the upper price band of Rs. 272, Orient Cables is valued at a post-issue market capitalisation of approximately Rs. 3,095.35 crore. The disclosed post-issue EPS is Rs. 11.52, translating into a P/E multiple of 23.61 times.
The valuation factors in meaningful future growth. It may remain acceptable if the company maintains recent margins, reduces debt and converts capacity investments into higher earnings. Any slowdown in data-centre, telecom, renewable-energy or electric-vehicle demand could affect valuation comfort.
Issue Structure and Shareholding
The total offer comprises 2,02,94,114 shares.
Promoter ownership will decline from 100% before the IPO to 82.17% after listing. Public shareholding will become 17.83%. The promoters and family trusts are selling shares worth approximately Rs. 232 crore through the OFS.
Orient Cables IPO FAQs
Is Orient Cables IPO suitable for listing gains?
Listing prospects depend on GMP, subscription levels and institutional demand. GMP may support listing-gain potential.
Is Orient Cables IPO suitable for long-term investors?
It may suit investors seeking exposure to networking, data-centre, renewable-energy and EV infrastructure, subject to valuation and debt risks.
What should investors monitor after listing?
Track margin sustainability, debt reduction, capacity utilisation, cash flow and growth in specialty-cable segments.