Company Overview
Susan Electricals India Limited (BSE Scrip Code: 544793) is a manufacturer of winding wires, conductors and power cables catering to government utilities, EPC companies and private sector customers across India. The company operates in utilities, railways, power infrastructure, transmission & distribution, and industrial & EPC sectors.
Core Products
- Winding Wires & Strips: Application in transformers, motors, generators & appliances
- Aluminium Conductors: Application in overhead transmission & distribution lines
- LT Cables (Armoured, Unarmoured, XLPE, PVC): Application in residential, commercial, industrial wiring & railways
- Aerial Bundled Cables
- Medium Voltage Covered Conductors: Used for replacing bare transmission line conductors, reduces line loss
- HT Cables: Designed for high voltage applications up to 33 kV
Manufacturing Infrastructure
Unit I: Plot No. A0-43, SSGT Road, Ghaziabad-201009, Uttar Pradesh - Manufacturing winding wires & strips and LT cables with installed capacity of 3,307.50 tonnes. Utilization rate: 57.23% (FY25-26)
Unit II: 18/27, Site-4, Sahibabad, Industrial Area, Ghaziabad-201010, Uttar Pradesh - Manufacturing LT & HT cables with installed capacity of 6,000.00 KM. Utilization rate: 93.65% (FY25-26)
Management Team
- Vishal Jain: Chairman & Managing Director, Promoter with extensive experience in wires and cables industry
- Lalit Sharma: Whole Time Director, Promoter associated since 17 February 2015
- Manoj Kumar: Non-executive Director, associated since 01 April 2022
- Chief Financial Officer: Associated since 10 January 2023, B.Com qualified
- Reshma Shukla: Company Secretary & Compliance Officer, associated since 01 December 2025, CS, B.Com qualified
Capacity Expansion Plan
The company is expanding manufacturing capabilities to meet rising demand for HT and MVCC cables:
Location: Plot No. 18/31, Site-IV, Industrial Area, Sahibabad - 201010, Ghaziabad, Uttar Pradesh
Expansion Details: Construction of additional shed and installation of new 6-33 KV Triple Layer Continuous Catenary Vulcanization (CCV) Line
Total Estimated Cost: ₹1,080.96 lakh
Funding: ₹1,029.49 lakh from net proceeds of the offer (IPO), balance from internal accruals
Future Capacity: Existing land has capacity for future expansion up to 22,000 Km per annum
Financial Performance
Revenue from Operations:
- FY26: ₹26,935.66 lakh
- FY25: ₹13,573.97 lakh
- FY24: ₹10,348.21 lakh
Profit After Tax:
- FY26: ₹1,824.64 lakh
- FY25: ₹565.10 lakh
- FY24: ₹75.58 lakh
Earnings Per Share (Basic):
- FY26: ₹11.96
- FY25: ₹5.71
- FY26: ₹1.11
Revenue Diversification
Customer-wise Revenue (FY26):
- Government entities: ₹9,638.23 lakh (35.78%)
- Private entities: ₹17,297.43 lakh (64.22%)
Customer Retention:
- FY26: Revenue from repeat customers ₹12,145.63 lakh (54.91% of total)
- Contribution from new and existing customers: 54.91% of revenue from operations
Clientele
Major clients include UGVCL, Jharkhand Bijli Vitran Nigam Limited, Eastern Power Distribution Company of Andhra Pradesh Limited, Madhyanchal Vidyut Vitran Nigam Limited, Dakhinanchal Vidyut Vitran Nigam Limited, Purvanchal Vidyut Vitran Nigam Limited, South Bihar Power Distribution Company Limited, Indian Railways, and other state power distribution companies.
Certifications & Approvals
Multiple ISI/BIS licences including:
- IS: 14255:1995 CM/L 8700162818
- IS: 398 (Part 2) CM/L 8700162717
- IS: 694:2010 CM/L 8700194722
- IS: 7098 (Part 1) CM/L 8700162919
- IS: 1554 (Part 1) CM/L 8700163147
- IS: 398 (Part 4) CM/L 8700212613
- IS: 7098 (Part 2) CM/L 8700196120
- IS: 398 (Part 6) CM/L 8700213817
Geographical Presence
Operational in Uttar Pradesh, Telangana, Rajasthan, Madhya Pradesh, Jharkhand, Bihar, Haryana, Punjab, Gujarat, Kerala, Tamil Nadu, Uttarakhand, Karnataka, Maharashtra, Andhra Pradesh, Chhattisgarh, and expanding to rest of India.
Industry Outlook
- Indian wires and cables market projected to grow from USD 10.32 billion in 2025E to USD 22.35 billion in 2035P at 8.02% CAGR
- Indian electrical equipment market estimated to grow from USD 73.80 billion in 2025E to USD 222.74 billion in 2035P at 11.68% CAGR
- Growth drivers include T&D expansion, new electrification, replacement demand, infrastructure modernization, and reconductoring
IPO Proceeds Utilization
Total IPO proceeds: ₹5,223.86 lakh allocated as:
- Capital expenditure for expansion: ₹1,029.49 lakh
- Working capital requirements: ₹3,300.00 lakh
- General corporate purposes: ₹894.37 lakh
Future Roadmap
- Strengthen HT Cable capacity
- Expand manufacturing and geographical sales of LT Cable
- Expand manufacturing and geographical sales of House Wiring