Parth Electricals & Engineering Ltd. IPO

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Parth Electricals & Engineering Private Limited, founded by Mr. Jigneshkumar Gordhanbhai Patel, is a technology-driven enterprise engaged in the manufacturing, supply, and servicing of electrical panels and substation components. With a legacy spanning nearly two decades, the company has become a trusted partner in the power distribution sector, offering innovative and reliable solutions aligned with modern electrification needs.

3. Business Segments

a) Manufacturing & Supply

Parth Electricals manufactures a wide range of power distribution products including RMUs, CSS/PSS, MV switchgear panels, control & protection relay panels, and HT metering panels, under technology partnerships and outsourcing agreements with Schneider Electric.

b) EPC & Services

The company provides end-to-end EPC services for electrical substations and power cables up to 220KV, along with specialized services for GIS (up to 400KV), AIS, certified cable accessory installation, RMU refurbishment, and comprehensive health check-ups of MV to EHV systems.

Technology Partnerships

Parth Electricals has entered into a Technology Transfer Agreement with Schneider Electric Industries SAS. Under this agreement, Parth is authorized to manufacture, assemble, test, market, and sell Schneider’s type-tested RMUs and CSS/PSS. This partnership strengthens Parth’s capabilities in delivering globally accepted and certified products within India under the Make in India initiative.

Clientele and Order Book

Parth Electricals has catered to 100+ clients across various industries including Oil & Gas, FMCG, Steel, Cement, Automobile, and Power Utilities. Key Clients include Aditya Birla Group, Ultratech Cement, L&T, RIL, Adani, Tata Power, Schneider Electric, BHEL, Tata Steel, Siemens and Jindal Steel & Power.

As of July 14, 2025, Parth Electricals holds an order book worth ₹123.20 crore, to be executed in FY 2025–26. This order book is certified by the company’s Statutory Auditor.

Competitive Strengths

i) Rigorous Quality Control: Ensures consistent product excellence through advanced in-house testing and adherence to international quality standards.
ii)  Strategic OEM Tie-ups: Enhances cost-efficiency and supply reliability through direct procurement partnerships with Schneider Electric.
iii) Technical Marketing Network: Leverages engineer-led marketing to deliver customized, sustainable solutions aligned with market needs and client expectations.

Objects of the Parth Electricals & Engineering Ltd. IPO:

Company proposes to utilize the Net Proceeds from the Issue towards the following objects: 1. Establishing GIS manufacturing facility in Gujarat (₹ 20 cr) 2. Establishing manufacturing facility in Odisha (₹ 19 cr) 3. Repayment of Short Term Borrowings (₹ 15 cr) 4. General Corporate Purposes
DRHP of Parth Electricals & Engineering Ltd. IPO
RHP of Parth Electricals & Engineering Ltd. IPO

Parth Electricals & Engineering Ltd. IPO Details:

Open Date: Aug 04 2025
Close Date: Aug 06 2025
Total Shares: 29,24,800
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Building
Issue Size: 49.72 Cr.
Lot Size: 800 Shares
Issue Price: ₹ 160-170 Per Equity Share
Listing At: NSE Emerge

Promoters And Management:

1. Mr. Jigneshkumar Patel, a B.E. graduate in Electrical Engineering from SP University, is the Promoter and Managing Director of the Company. He brings over 28 years of experience in the electrical engineering sector, including stints at Jyoti Ltd. and Siemens (1995–2004). He started the business in 2005 and has led the Company since its incorporation in 2007, overseeing business development, product expansion, and market growth. 2. Mrs. Jemini Patel, a science graduate from SP University, Anand, has been associated with the Company since inception. With over 17 years of experience, she currently manages manufacturing and factory operations, having previously handled general administration, accounts, project management, and commercial functions. She is known for her strong people and process management skills. 3. Ms. Karuna Advani is a law graduate and seasoned Company Secretary, with over 20 years of experience in corporate governance and compliance. She worked as Compliance Officer at Jindal Hotel Ltd. (2007–2021) and currently practices independently, advising companies on regulatory frameworks and board management practices.

Financials of Parth Electricals & Engineering Ltd. IPO:

Particulars FY 2024-25 FY 2023-2024 FY 2022-2023
Revenue from Operations 174.67 86.78 65.53
EBITDA 17.53 9.05 4.31
EBITDA Margins 10.04% 10.42% 6.57%
PAT 10.12 4.61 2.45
PAT Margins 5.79% 5.31% 3.74%
ROCE 23.28% 24.50% 19.63%
Debt to Equity Ratio(In Times) 0.82 1.09 0.83
Operating Cash Flows 0.3 7.53 3.1

Comparison With Peers:

Companies Revenue (in cr) EBITDA Margins PAT Margins ROCE D/E Ratio MCap (in cr) P/E
Parth Electricals and Engineering Limited 174.67 10.04% 5.79% 23.28% 0.82 232.35 22.96
Supreme Power Equipment Limited 145 15.7% 12.80% 27.50% 0.18 511 27.5
Shivalic Power Control Limited 132 14% 9.38% 19.40% 0.05 265 16.8
RMC Switchgears Limited 316 17% 9.93% 37.20% 0.55 883 28.1

Recommendation on Parth Electricals & Engineering Ltd. IPO:

 Reviews & Recommendation of Parth Electricals & Engineering Ltd. IPO By IZ Team is 4/10.

Lead Manager of Parth Electricals & Engineering Ltd. IPO:

  1. Horizon Financial Pvt Ltd

Registrar of Parth Electricals & Engineering Ltd. IPO:

  1. Kfin Technology Private Limited

Discussion on Parth Electricals & Engineering Ltd. IPO:

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