Opening Hook
Remember when power cuts were routine and inverters were our best friends? Fast forward: Parth Electricals is pushing Ring Main Units and Compact Substations like they’re the new iPhones. Net revenue zoomed from ₹65.5 cr in FY23 to ₹174.7 cr in FY25 (102% CAGR, company presentation). Why it matters now: they just listed on NSE Emerge (Aug 11, 2025), raised ~₹50 cr, and snagged marquee backers like Polycab, Waaree, Uno Minda family office, and White Pine PMS. Stick around—things get spicier two scrolls down.
At a Glance
• Revenue ₹174.7 cr FY25 – tripled in two years, 100% CAGR ≠ Excel typo
• EBITDA margin ~10% – CFO swears it’s discipline, not jugaad
• PAT ₹10.1 cr – 4x in two years, not bad for a panel beater
• Order book ₹125 cr (Aug’25) – execution visibility into FY26
• $4.8m export order to USA – UL certification pending, Canada on radar
• IPO listed Aug 11, 2025 – ₹50 cr raised, stock now in public hands
Management’s Key Commentary
- “We are listed on NSE Emerge on 11th Aug 2025.”
Translation: From dusty shopfloor to Dalal Street ticker in 20 years—finally got the startup badge.
- “Order book of ₹125 cr as on 15 Aug 2025; 300+ cr bids in pipeline.”
Translation: Sales team’s pipeline deck is thicker than an IIT-JEE prep book.
- “Export order of $4.8m from Mesabi Metallics in the US.”
Translation: From Savli, Vadodara to Minnesota mines—who said cables can’t travel?
- “RMU capacity expanded from 200 to 300 units monthly.”
Translation: Automation, CNC, and robotic welders now work harder than interns.
- “We plan to generate 20% of revenues from exports going forward.”
Translation: If Make in India doesn’t pay, Make in USA surely will.
- “Refurbishment saves utilities ~70% vs new RMUs.”
Translation: Scrap dealers hate them; DISCOM CFOs love them.
- “Committed to 100% green energy at Manjusar facility.”
Translation: Panels may still spark, but carbon footprint won’t.
Numbers Decoded
Revenue – The Hero | EBITDA – The Sidekick | Margins – The
