Kanohar Electricals Limited
Open now8–10 Sep 2026
Updated 2026-09-08 (IST)
What Kanohar Electricals Limited does
Kanohar Electricals Limited is a manufacturer of power transformers, traction transformers, Scott connected transformers, shunt reactors, and high voltage gas insulated switchgear. The company operates in two segments: the Transformer Manufacturing Business and the EPC Business, which undertakes engineering, procurement, and construction projects in the power transmission and distribution sector.
Kanohar Electricals Limited financials
Rs crore · AnnualLatest year highlighted in green. Sparklines show the trend.
| Fiscal 2024 | Fiscal 2025 | Fiscal 2026 | ||
|---|---|---|---|---|
| Sales | 277 | 451 | 654 | |
| Operating Profit | 31 | 93 | 180 | |
| OPM % | 11.2% | 20.7% | 27.6% | |
| Net Profit | 18 | 65 | 130 | |
| Total Debt | 42 | 32 | 39 |
Kanohar Electricals Limited IPO offer structure
Total: ₹1,056 cr. Fresh issue proceeds go to the company; OFS proceeds go to selling shareholders.
Issue size and split come from a public aggregator rather than the exchange, cross-checked against a second one. The offer document states the offer-for-sale as a share count against a blank amount, so it cannot be read from the document itself.
Use of proceeds- Funding the capital expenditure requirements of our Company: ₹64 cr
- Funding the incremental working capital requirements of our Company: ₹155 cr
- General corporate purposes
Kanohar Electricals Limited promoters and holding
- Dinesh Singhal: Chairman and Managing Director
- Adesh Singhal: Whole-time Director
- Vivek Singhal: Whole-time Director
- Abhishek Singhal: Whole-time Director
- Virat Singhal: Promoter
Kanohar Electricals Limited strengths and risks
Company-stated strengths and disclosed risk factors from the offer document.
- Established player in the transformer manufacturing sector catering to high growth industries. (p.253)
- Successful short circuit testing of transformers up to 500 MVA 400 kV which enables us to compete for large, high-value contracts across sectors. (p.254)
- Comprehensive presence across our Transformer Manufacturing Business and EPC Business enables us to serve a large total addressable market. (p.255)
- Integrated manufacturing facilities equipped to deliver high-quality products. (p.256)
- Track record of executing orders for large and marquee clients. (p.256)
- We derive a significant portion of our revenue from the Transformer Manufacturing Business, and any reduction in demand could adversely affect us. (p.22)
- A significant portion of our revenue is attributable to high growth sectors like power transmission, railways, and renewable energy, exposing us to cyclicality. (p.23)
- Under-utilization of our manufacturing capacities could have an adverse effect on our business and financial performance. (p.24)
- We depend on certain customers for a significant portion of our revenue from operations, exposing us to customer concentration risks. (p.25)
- If we are unable to raise additional working capital or obtain financing on favorable terms, our growth could be adversely affected. (p.26)
Kanohar Electricals Limited peer comparison: DRHP median P/E 103.0x
Live BSE prices| Company | CMP | P/E | OPM% | ROE% | Source |
|---|---|---|---|---|---|
| Hitachi Energy India Limited | Rs 31,720 +0.2% | 159.6x | 16.9% | 82.0% | live |
| Bharat Heavy Electricals Limited | Rs 421.5 -2.7% | 60.3x | 9.5% | 9.8% | live |
| Schneider Electric Infrastructure Limited | Rs 1,194.3 -3.2% | 155.1x | 6.3% | 46.0% | live |
| CG Power and Industrial Solutions Limited | Rs 899 +0.6% | 114.2x | 16.9% | 37.4% | live |
| Transformers & Rectifiers (India) Limited | Rs 299.8 -0.3% | 33.5x | 15.6% | 19.9% | live |
| GE Vernova T&D India Limited | Rs 4,363 +0.9% | 89.4x | 27.4% | 94.8% | live |
P/E from offer document where live data unavailable. Not a fair-value judgement.
Kanohar Electricals Limited market and competition
We are one of the leading domestic players in transformer manufacturing in terms of revenue in Fiscal 2026. As on March 31, 2026, we are one of five companies in India to have the short circuit test certification for 500 MVA 400 kV transformers used in the power transmission industry.
Kanohar Electricals Limited outlook, as the document states it
We intend to scale up the production of our key offerings, such as 500 MVA 400 kV power transformers, traction transformers, and Scott transformers, by utilizing a portion of the Net Proceeds to increase our transformer manufacturing capacity by an additional annual installed capacity of 18,000 MVA. We are also committed to enhancing our operational efficiency through automation, process excellence, and reduction of production bottlenecks.
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Kanohar Electricals Limited IPO: common questions
When does the Kanohar Electricals Limited IPO open and close?
The Kanohar Electricals Limited IPO is open from 8 Sep 2026 to 10 Sep 2026.
What is the Kanohar Electricals Limited IPO price band?
The price band is ₹601–₹632 per share.
What is the lot size and minimum investment for the Kanohar Electricals Limited IPO?
One lot is 23 shares, and a retail application must be at least one lot. That is about ₹14,536 at the upper end of the band. An HNI application starts above Rs 2 lakh, so the minimum is higher for that category.
What is the grey-market premium (GMP) for the Kanohar Electricals Limited IPO?
As of 8 Sep 2026 the indicative GMP is +29.3%. GMP is unregulated and self-reported. Never decide on it alone.
When are the Kanohar Electricals Limited IPO allotment and listing dates?
Not published yet. Derived from the close date on the usual timetable: allotment around 11 Sep 2026, refund/unblock around 14 Sep 2026 and listing around 16 Sep 2026. Treat these as estimates until the exchange confirms them.
How do I apply for the Kanohar Electricals Limited IPO?
Through any broker app or your bank's net banking, using a demat account and a PAN. You bid in lots at a price inside the band, or at cut-off. The money is blocked in your account, not debited, until allotment. One application per PAN. We do not recommend brokers and carry no broker links. How to apply, start to finish →
Sources & method
Subscription and issue data come from the NSE and BSE exchange feeds, with the third-party aggregator, clearly labelled, where an exchange feed is unreachable. DRHP analysis is extracted from the offer document itself, every figure cited to its page. Each figure on the page carries its source and its timestamp.
Grey-market premium (GMP) is unregulated.
Every GMP figure is a self-reported grey-market estimate. No exchange, regulator or clearing body records or audits it, and there is no settlement guarantee or recourse. Shown for context only; never decide on GMP alone. New to GMP? The 30-second explainer → Has GMP actually been right? →
How often do these actually open above the issue price?
Of the 505 mainboard IPOs that have listed on the NSE since 2003, 359 (71%) opened above their issue price, at a median of +10%. That is the segment's own record, not a forecast for this issue.