Company Overview
Susan Electricals India Limited (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.
Q1 FY27 Financial Performance Highlights
Revenue from Operations: ₹953.57 lakh in Q1 FY27 compared to ₹251.63 lakh in Q1 FY26, representing 279% growth
Total Income: ₹954.13 lakh (Q1 FY27) vs ₹251.72 lakh (Q1 FY26)
Profit Before Tax: ₹85.82 lakh profit (Q1 FY27) vs ₹(4.47) lakh loss (Q1 FY26)
Net Profit: ₹63.91 lakh (Q1 FY27) vs ₹(4.16) lakh loss (Q1 FY26)
EPS - Basic: ₹3.93 (Q1 FY27) vs ₹(0.83) (Q1 FY26)
EPS - Diluted: ₹3.93 (Q1 FY27) vs ₹(0.83) (Q1 FY26)
Paid-up Equity Share Capital: ₹203.31 lakh
Expense Breakdown (Q1 FY27)
Cost of Material Consumed: ₹880.14 lakh
Changes in Inventories of Finished Goods: ₹(93.27) lakh
Employee Benefits Expense: ₹20.51 lakh
Finance Costs: ₹23.35 lakh
Depreciation & Amortization: ₹5.13 lakh
Other Expenses: ₹32.45 lakh
Total Expenses: ₹868.31 lakh
Tax Provisions
Current Tax: ₹23.43 lakh
Deferred Tax Credit: ₹(1.52) lakh
Operational Highlights
Unexecuted Order Book: ₹142.39 crore as of June 30, 2026, with significant portion expected to be executed over next three months
Active Order Pipeline: Approximately ₹150 crore providing further visibility
Capacity Utilization: Unit I utilization at 93.65% in FY25-26
Product Mix Shift Strategy
The company is strategically shifting product mix toward higher-value cable products:
- Winding Wire: Decreased from 47.74% (Q1 FY26) to 24.39% (Q1 FY27) - 23.35 ppt decrease
- LT Cables & Conductors: Increased from 46.70% (Q1 FY26) to 65.68% (Q1 FY27) - 18.98 ppt increase
- HT Cables & MVCC: Increased from 2.07% (Q1 FY26) to 7.11% (Q1 FY27) - 5.04 ppt increase
- Other Operating Revenue: Decreased from 3.49% to 2.82% - 0.67 ppt decrease
Capacity Expansion Plan
Location: Plot No. 18/31, Site-IV, Industrial Area, Sahibabad - 201010, Ghaziabad, Uttar Pradesh
Current Capacity: 7,500 Km p.a.
Expansion Target: Additional 4,500 Km p.a. capacity (60% increase)
New Capacity: 12,000 Km p.a.
Commercial Production Target: February 2027
Total Estimated Project Cost: ₹1,080.96 lakh
Funding: ₹1,029.49 lakh from net proceeds of offer, balance from internal accruals
Future Expansion Potential: Existing land can support expansion up to 22,000 Km p.a.
Manufacturing Infrastructure
Unit I: Plot No. A0-43, SSGT Road, Ghaziabad-201009, Uttar Pradesh
Products: Winding Wires & Strips, LT Cables (Armoured, Unarmored, XLPE, PVC)
Installed Capacity: 3,307.50 Tonnes
Utilization Rate: 93.65% (FY25-26)
Management Team
Vishal Jain: Chairman & Managing Director, Promoter with extensive wires and cables industry experience
Lalit Sharma: Whole Time Director, associated since February 17, 2015
Ved Prakash: Chief Financial Officer, associated since January 10, 2023, B.Com qualified
Reshma Shukla: Company Secretary & Compliance Officer, associated since December 31, 2025, CS, B.Com qualified
Certifications & Approvals
The company holds multiple ISI/BIS licenses:
- 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 States: Uttar Pradesh, Telangana, Rajasthan, Madhya Pradesh, Jharkhand, Bihar, Haryana, Punjab, Gujarat
Expanding To: Kerala, Tamil Nadu, Uttarakhand, Karnataka, Maharashtra, Andhra Pradesh, Chhattisgarh, and rest of India
Historical Financial Performance
Revenue Growth: Nearly 2.6x from ₹10,348.21 lakh in FY24 to ₹26,935.66 lakh in FY26
PAT Growth: Surged over 24x from ₹75.58 lakh in FY24 to ₹1,824.64 lakh in FY26
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
Future Roadmap
- Strengthen HT Cable capacity
- Expand manufacturing and geographical sales of LT Cable
- Expand manufacturing and geographical sales of House Wiring