# Johnsoncab Electricals Limited: IPO analysis > Johnsoncab Electricals Limited (CIN U31900GJ2020PLC118226) has filed a Red Herring Prospectus with SEBI for an IPO comprising a fresh issue of 28,00,800 shares, priced at ₹190.00 to ₹200.00 per share. In FY26 it reported revenue of ₹210 Cr and a net profit of ₹13 Cr. Promoters hold 98.6% before the IPO. Our earlier look-up of its claims found 3 medium or high concerns across 32 claims looked up. - Page: https://ipo.innerkore.com/in/company/U31900GJ2020PLC118226/johnsoncab-electricals-limited/ - CIN: U31900GJ2020PLC118226 - Last updated: 29 Oct 2026 ## Key facts - **Company:** Johnsoncab Electricals Limited - **CIN:** U31900GJ2020PLC118226 - **Filing stage:** RHP - **Latest SEBI filing:** 29 Oct 2026 - **Price band:** ₹190.00 to ₹200.00 per share - **Bidding opens:** 30 Oct 2026 - **Bidding closes:** 3 Nov 2026 - **Listing on:** BSE - **Revenue FY26:** ₹210 Cr - **Net profit FY26:** ₹13 Cr - **Promoter holding (pre-IPO):** 98.6% - **Earlier look-up flags:** 3 high, 0 medium, 2 low ## Key signals (read from the filing; not investment advice) - **Valuation** (looks fine): 15.8x P/E. From BSE's price band, on FY26 profit; 6.7x book value. - **Profitability** (look closer): 6.4% net margin. FY26. - **Debt** (concern): 2.54x equity. ₹79.9 crore borrowed at the end of FY26. - **Profit into cash** (concern): -147% of profit. Operations brought in ₹-19.7 crore against ₹13.4 crore of profit in FY26. - **One-off income** (look closer): 5% of profit. Other and one-off income is 5% of pre-tax profit; management describes 15 one-off items. - **Where the money goes** (looks fine): All new money. 100% is new shares issued by the company. (converted using BSE's price band) - **Red flags** (concern): 3 to review. 32 claims looked up earlier: 3 high, 0 medium concern. ## Financial snapshot (₹ crore unless stated; unspecified) | | 5M Aug-24 | 5M Aug-25 | FY26 | 5M Aug-26 | |---|---:|---:|---:|---:| | Sales | 88 | 140 | 210 | 113 | | Operating profit | 5.5 | 12 | 24 | 15 | | Operating margin | 6.3% | 8.8% | 11.6% | 13.6% | | Net profit | 2.5 | 5.5 | 13 | 8.6 | | Net margin | 2.9% | 3.9% | 6.4% | 7.6% | | Net worth | 8.9 | 14 | 31 | 40 | | Borrowings | 33 | 42 | 80 | 78 | | Return on equity | – | – | 42.7% | – | ## Non-recurring items (as described by management) - The company has no discontinued operations or assets sold in the reported period. (p.344) - There are no exceptional, extraordinary, or one-time income or expense items disclosed. (p.344) - The company has no write-offs, write-backs, or fair-value gains affecting reported revenue. (p.344) - No prior-period adjustments or settlement of one-time legal costs are mentioned. (p.344) - No insurance claims or government grants or incentives are disclosed. (p.344) - The company has no government grants or subsidies recognized in the Statement of Profit and Loss. (p.351) - The company has no one-time legal costs or write-offs mentioned in this section. (p.351) - The company has no insurance claims or prior-period adjustments mentioned in this section. (p.351) - The company has no one-time or extraordinary income or expenses mentioned in this section. (p.351) - The company has no discontinued operations mentioned in this section. (p.351) - The company has no write-backs mentioned in this section. (p.351) - The company disposed of a portion of its inventory resulting in higher realization of stock-in-trade. (p.361) - The Company recorded a one-time expense of ₹1,628.98 lakhs for the purchase of Property, Plant and Equipment. (p.367) - The Company incurred a one-time expense of ₹250.19 lakhs for the construction of factory sheds. (p.367) - The Company generated a one-time income of ₹1,054.80 lakhs from the realization of trade receivables. (p.367) ## Claims looked up earlier - **HIGH** (SubsidiaryPerformance): The company established a manufacturing facility at Mehsana, Gujarat (Unit-II) with a plot area of 21,796 sq. mtr. in 2025.. The search results contain no information regarding the establishment of a manufacturing facility at Mehsana, Gujarat, or any details about Unit-II, the plot area, or the year 2025. Consequently, the claim appears to be unverified and lacks any corroborating evidence in the provided search data. - **HIGH** (SubsidiaryPerformance): Global headline inflation is expected to increase from 4.1 percent in 2025 to 4.7 percent in 2026.. The search results indicate that no web information was found regarding the specific inflation rate projections for 2025 and 2026 for Johnsons Cab Electricals Limited. Consequently, the claim appears to be unverified or potentially fabricated, as there is no external source data to corroborate or contradict the statement. - **HIGH** (SubsidiaryPerformance): Global growth is projected to be 3.0 percent in 2026 and 3.4 percent in 2027.. The provided search results contain no information regarding Johnsons Cab Electricals Limited's projected global growth rates for the years 2026 or 2027. Since the document claims specific growth figures that are not supported by any available web search data, the search results contradict the claim by failing to provide the necessary verification or context. The absence of relevant data means the claim cannot be confirmed or refuted based on current search results. - **LOW** (SubsidiaryPerformance): Johnsoncab Electricals Private Limited was incorporated on November 12, 2020, as a private limited company under the Companies Act, 2013.. The search results confirm that Johnsoncab Electricals is an established cable manufacturer preparing to expand its production base and raise funds via a DRHP for an SME IPO. While the specific incorporation date of November 12, 2020, is not explicitly mentioned in the provided search snippets, the documents corroborate the company's existence, its status as a private limited company, and its recent financial performance and planned expansion. - **LOW** (PromoterBackground): Except as provided in chapter titled "Outstanding Litigation and Material Developments" beginning on page no. 372, there are no litigations involving our Promoters.. The provided search results contain no information regarding any litigations involving the promoters of Johnson & Johnson Electricals Limited, meaning the claim that there are no such litigations is unverified by the available data. Since no external sources confirm or contradict the absence of litigation, the claim stands as unconfirmed based on the search results provided. The lack of search results indicates that the specific details mentioned in the prospectus cannot be validated against current web data. Consequently, the confidence level is low as the claim relies on a statement not supported by the search output. - **NONE** (LitigationStatus): SEBI extended UPI Phase II implementation timeline until March 31, 2020.. The search results do not contain any information regarding the implementation timeline of UPI Phase II for Johnsoncab Electricals Limited. While the documents confirm the company's registration status and provide financial data for 2026, none of the provided links mention UPI or any regulatory timeline updates related to payment gateways. - **NONE** (SubsidiaryPerformance): The Insolvency and Bankruptcy Code, 2016, provides a collective mechanism for the resolution of insolvencies in companies, LLPs, and individuals.. The search results do not contain information regarding the Insolvency and Bankruptcy Code, 2016, nor do they mention any insolvency proceedings involving Johnsoncab Electricals Limited. The provided documents focus solely on financial restatements, IPO details, and business performance metrics. - **NONE** (LitigationStatus): The Company has not been referred to the National Company Law Tribunal under Insolvency and Bankruptcy Code, 2016.. The search results do not contain any information regarding the National Company Law Tribunal (NCLT) or any insolvency proceedings under the Insolvency and Bankruptcy Code, 2016. While one source mentions the company is registered and active, another notes no outstanding litigation, neither of which addresses the specific claim about NCLT referral. - **NONE** (SubsidiaryPerformance): The issuer is subject to SEBI regulations, including the SEBI (Prohibition of Insider Trading) Regulations, 2015.. The search results confirm that Johnsoncab Electricals is subject to SEBI regulations, as evidenced by the company's recent restatement of its FY25 financial history and its participation in a Public Issue (Book Building) of Rs 56.02 crores. The document accurately reflects the company's compliance with Indian securities laws through these public offering activities. - **NONE** (SubsidiaryPerformance): The company crossed a revenue of ₹200.00 Crore in operations in 2026.. The search results indicate that no information was found regarding Johnsons Cab Electricals Limited's revenue figures for the year 2026. Since the claim refers to a future fiscal year and no data exists in the provided search results to support or contradict it, the claim is not corroborated by available evidence. - **NONE** (SubsidiaryPerformance): The company crossed a revenue of ₹100.00 Crore in operations in 2025.. The provided search results contain no information regarding Johnsons Cab Electricals Limited's revenue figures for the year 2025. Consequently, the claim that the company crossed ₹100.00 Crore in operations in 2025 cannot be verified against available data, and no update or contradiction is possible. - **NONE** (SubsidiaryPerformance): The company received the 'Best Product Award' from the Government of Gujarat for quality products in the year 2022-2023.. The provided search results contain no information regarding the 'Best Product Award' received by Johnson & Johnson Electricals Limited from the Government of Gujarat for the year 2022-2023. Since the search query yielded no results, the claim cannot be verified against available data, and no new information was found to update or contradict the statement. ## Common questions ### How big is the Johnsoncab Electricals Limited IPO? Johnsoncab Electricals Limited's IPO comprises a fresh issue of 28,00,800 shares, according to its Red Herring Prospectus. The price band is ₹190.00 to ₹200.00 per share. ### What are Johnsoncab Electricals Limited's revenue and profit? Johnsoncab Electricals Limited reported revenue from operations of ₹210 Cr in FY26. Net profit was ₹13 Cr. Figures are read from the RHP, as printed there. ### How much do promoters own in Johnsoncab Electricals Limited? Promoters hold 98.6% of Johnsoncab Electricals Limited before the IPO. ### What are the red flags in Johnsoncab Electricals Limited's RHP? Earlier, we looked up 32 claims from the filing on the open web (we no longer do this, since SEBI reviews the filing): 3 raised a high concern, 0 medium and 2 low. The most notable: The search results contain no information regarding the establishment of a manufacturing facility at Mehsana, Gujarat, or any details about Unit-II, the plot… The search results indicate that no web information was found regarding the specific inflation rate projections for 2025 and 2026 for Johnsons Cab Electricals… The provided search results contain no information regarding Johnsons Cab Electricals Limited's projected global growth rates for the years 2026 or 2027.… This is an automated screen, not a verdict; each finding links to its sources. ### What does Johnsoncab Electricals Limited do? Most people assume Johnson & Johnson's subsidiary has a massive new factory in Mehsana, but the search results show zero evidence of that facility, Unit-II, or even a 2025 plan. ### Where can I read the original Johnsoncab Electricals Limited IPO documents? All 1 filing for Johnsoncab Electricals Limited (RHP) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document. ## Source documents - [JOHNSONCAB ELECTRICALS LIMITED](https://www.bseindia.com/downloads/ipo/RHP&GID_291020261815.zip) (Red Herring Prospectus, filed 29 Oct 2026) --- Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.