Subscribe for Orient Cables India Ltd IPO; Ajcon Global

Reports coming in for today mention that Ajcon Global, Orient Cables India Ltd

Orient Cables (India) Limited is a B2B manufacturer of networking cables and passive networking equipment, with nearly two decades of operating experience. It caters to high expansion industries including telecom, broadband, data centres, renewable energy, smart building automation, security, FMEG, system integration and automotive. The product portfolio includes networking cables, specialty power cables, optical fibre cables, cable assemblies and other allied networking products. The Business operates across four broad segments. Networking Cables and Solutions include CAT5, CAT5e, CAT6 and CAT6A cables, patch cords, CCTV and coaxial cables. Specialty Power, Optical Fibre Cables and Solutions comprise instrumentation, control and power cables, optical fibre cables, fibre patch cords and custom assemblies. The Firm additionally manufactures wire and cable harness assemblies and EV charging gun cable assemblies, which were introduced in FY26. Other allied products include keystone jacks, power strips and power cords. According to the 1Lattice Report, Orient Cables is among the top four players in India's networking cables industry, with an estimated 22.9% market share in FY26, up from approximately 16% in FY22. The Firm has additionally noted firm expansion, with topline recording a 33.45% CAGR during FY24-FY26, compared with approximately 17.27% for its peers. It noted ROCE of 23.82% in FY26, reflecting firm operating efficiency.

Established customer relationships, increasing exports, firm manufacturing capabilities and international certifications further backing long term expansion and diversification. At the upper price range of ₹272, the offering is valued at a P/E multiple of around 57.51x on its FY26 post-IPO EPS of ₹4.73. We give a 'SUBSCRIBE' rating to the offering for the following reasons.

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