Om Power Transmission IPO

Om Power Transmission Limited is a Gujarat-based company with over 14 years of experience in the power sector. It is an EPC (Engineering, Procurement & Construction) company that builds high-voltage and extra-high voltage electricity transmission lines, substations, and underground cable networks on a turnkey basis — meaning it handles everything from design to commissioning. Since 2011, the company has completed over 1,000 circuit kilometres (CKM) of transmission lines and 11 substations, and is currently operating and maintaining 134 substations. As of August 31, 2025, its order book stands at an impressive ₹77,619.35 lakhs (~₹776 Crore) across 56 active projects.

STRENGTHS

1. Proven Track Record of Complex Project Execution The company has deep expertise in handling projects from 11 kV to 400 kV transmission lines and substations up to 220 kV. It has demonstrated the ability to complete projects on time and ahead of schedule — such as completing a 66 kV, 18 km line in just 4 months and a 220 kV, 83 km line for GETCO (Gujarat Energy Transmission Corp.) ahead of time. Their "AA" class accreditation in Gujarat reflects high technical competence.
2. Strong and Growing Order Book The company's unexecuted order book as of August 31, 2025 is ₹77,619.35 lakhs comprising 56 projects — 50 EPC contracts and 6 O&M contracts. This gives strong revenue visibility for the future. In FY 2025 alone, they completed 26 projects with zero instances of contract non-fulfilment.
3. Experienced Promoter-Led Management The three founding promoters — Kalpesh Patel, Kanubhai Patel, and Vasantkumar Patel — collectively bring over 30 years of experience each in electrical contracting and power infrastructure. They have been with the company since incorporation, providing deep domain knowledge and stable leadership.
4. Lean Debt, Strong Cash Generation The company has significantly reduced its debt — borrowings fell from ₹2,556.91 lakhs (FY23) to ₹1,890.46 lakhs (FY25). With a Debt-to-Equity ratio of just 0.26x in FY25, the financial structure is healthy and investor-friendly.
5. ISO-Certified Processes and Regulatory Compliance The company operates with ISO-certified project management systems and complies with all applicable safety, regulatory, and quality standards — a key differentiator for large government tenders.

GROWTH

Revenue has nearly doubled in two years: From ₹120 Crore in FY23 to ₹279 Crore in FY25, representing a CAGR of 52.45%.
Profits have tripled: PAT grew from ₹6.23 Crore in FY23 to ₹22.08 Crore in FY25, a CAGR of 88.17%.
Expanding geographically: Historically focused on Gujarat, the company has now secured contracts in Punjab and Rajasthan too, with plans to expand pan-India.
National tailwinds: India's government plans to add ~17,500 CKM of new transmission lines annually. With growing renewable energy targets (solar in Rajasthan, wind in Gujarat), the demand for power evacuation and transmission infrastructure is booming — directly benefiting companies like Om Power Transmission.
Order inflows strong: In FY24, the company won orders worth ₹49,447 lakhs (~₹494 Crore), building a book-to-bill ratio of 2.82x — meaning future revenue is already secured far beyond current capacity.