Jainik Power Cables Limited (JAINIK)
Latest quarterly results (H2 FY26)
In its latest reported quarter, H2 FY26, Jainik Power's revenue was ₹209 Cr (+10.0% year on year, +13.2% on the previous half-year), and net profit ₹8.0 Cr (+60.0% year on year); the operating margin was 5.3%.
| H2 FY26 (₹ Cr) | Value | YoY vs H2 FY25 | vs prev. half |
|---|---|---|---|
| Revenue | ₹209 | +10.0% | +13.2% |
| Operating profit | ₹11.0 | +57.1% | +23.0% |
| Net profit | ₹8.0 | +60.0% | +29.7% |
| EPS (₹) | 5.47 | +11.0% | +9.8% |
| Operating margin | 5.3% | — | — |
JAINIK delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 93.75% of the JAINIK shares traded on NSE were taken to delivery, against the stock's own 20-session average of 95.88%. That is close to its usual level. Turnover was only ₹35 lakh, so a handful of trades can move this figure. It closed at a price band (circuit) on 5 sessions in about the last 20.
Delivery in the last 5 sessions: 88.9% · 94.4% · 92.9% · 91.7% · 93.8%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Jainik Power Cables Limited has received fresh credit ratings from CARE Ratings Limited for its bank facilities. CARE assigned a 'CARE BBB; Stable' long-term rating and a 'CARE A3+' short-term rating. The ratings cover a total of ₹25.00 crore in fund-based bank facilities with Kotak Mahindra Bank Ltd. The rating is valid for one year from the initial communication date of September 18, 2026.
- CARE Ratings assigned 'CARE BBB; Stable' (Long Term) and 'CARE A3+' (Short Term) ratings
- Total rated facility amount is ₹25.00 crore, comprising fund-based limits with Kotak Mahindra Bank Ltd
- Rating validity extends for one year from September 18, 2026
- Company was formerly known as Jainik Power and Cables Limited
Jainik Power Cables Limited submitted its Reconciliation of Share Capital Audit Report under Regulation 76 of SEBI Regulations for the quarter ended September 30, 2026. The company reported a total issued and listed capital of 1,43,47,700 equity shares (face value INR 10/-) on NSE Emerge. All shares (100.00%) are held in dematerialized form, with 81.59% in NSDL and 18.41% in CDSL. There were no changes in share capital or discrepancies noted during the quarter.
- Total issued and listed capital stands at 1,43,47,700 equity shares
- 100.00% of the share capital is in dematerialized form with 0 physical shares
- NSDL holds 1,17,06,500 shares (81.59%) while CDSL holds 26,41,200 shares (18.41%)
- No changes in share capital occurred during the quarter ended September 30, 2026
Jainik Power Cables Limited has secured a vendor registration certificate from M.P. Madhya Kshetra Vidyut Vitaran Company Limited (MPMKVVCL), Bhopal, dated September 28, 2026. The approval is valid for three years up to September 27, 2029, and covers 11 kV covered conductors, AAAC/ACSR conductors, and LT XLPE cables. With this approval, Jainik's utility footprint expands to five states: Gujarat, Andhra Pradesh, Maharashtra, Chhattisgarh, and Madhya Pradesh. This pre-qualification allows the company and its EPC partners to bid directly on state distribution tenders.
- Vendor registration certificate dated 28 September 2026 received from MPMKVVCL Bhopal
- Registration validity lasts 3 years up to 27 September 2029
- Footprint now covers 5 key states: Gujarat, Andhra Pradesh, Maharashtra, Chhattisgarh, and Madhya Pradesh
- Product scope includes 11 kV covered conductors, AAAC, ACSR, LT XLPE aluminium cables, and Aerial Bunched Cables
Jainik Power Cables has received vendor registration approval from Uttar Gujarat Vij Company Limited (UGVCL), valid for five years from September 30, 2026. The approval covers AAC, ACSR, covered conductors, and XLPE-insulated aluminium cables following a facility inspection. This enables the company to directly bid on state utility tenders in Gujarat, expanding on prior state approvals from Andhra Pradesh, Maharashtra, and Chhattisgarh. While no direct revenue is tied to this approval, it opens access to Gujarat's power distribution procurement pipeline.
- Received vendor registration approval valid for 5 years from approval letter date September 30, 2026
- Approval covers AAC conductors, covered conductors, ACSR conductors, and XLPE-insulated aluminium cables
- Marks entry into Gujarat distribution utilities alongside existing approvals in Andhra Pradesh, Maharashtra, and Chhattisgarh
- Enables bidding in institutional and government procurement tenders floated by UGVCL
Jainik Power Cables has announced expanding its vendor registration approvals across three key states: Andhra Pradesh, Maharashtra, and Chhattisgarh. The latest approval from Chhattisgarh State Power Distribution Company Limited (CSPDCL) qualifies the company to supply LT AB Cables, LT Power Cables, ACSR conductors, and 11 kV & 33 kV covered conductors. The CSPDCL vendor registration is valid up to August 20, 2028. This move supports the company's planned forward integration from wire rods into finished power cables.
- Vendor registration secured across 3 key states: Andhra Pradesh, Maharashtra, and Chhattisgarh
- CSPDCL vendor registration approval is valid up to 20 August 2028
- Approval covers LT AB Cables, LT Power Cables, ACSR conductors, and 11 kV & 33 kV covered conductors
- Enables direct participation and supply to turnkey contractors for utility distribution projects
Jainik Power Cables Limited has secured multiple vendor approvals from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for a broad portfolio of electrical products. The approval spans AAAC & ACSR Conductors, 11 kV AAAC Covered Conductors, LT XLPE Aerial Bunched Cables, and LT XLPE Power Cables. Granted by the Chief Engineer (Testing-QC), Mumbai, the approvals are valid for two years until 17 September 2028. This qualifies the company to bid for and supply products under ongoing MSEDCL power distribution schemes, directly supporting its forward-integration strategy into finished cables.
- Received vendor approvals from MSEDCL covering four product categories: AAAC & ACSR Conductors, 11 kV AAAC Covered Conductors, LT XLPE Aerial Bunched Cables, and LT XLPE Power Cables
- Approvals are valid for a period of 2 years, up to 17 September 2028
- Secured after scrutiny of Type Test Reports and Guaranteed Technical Particulars (GTP) under IS/IEC standards
- Enables commercial supply opportunities in Maharashtra's state power distribution ecosystem
Jainik Power Cables Limited has dispatched letters to shareholders whose email addresses are unregistered, providing web links to access the Notice for its 15th Annual General Meeting (AGM) and the Annual Report for FY 2025-26. The AGM is scheduled for September 30, 2026, at 04:00 p.m. via video conferencing. The cut-off date for voting eligibility is September 23, 2026, with remote e-voting running from September 27 to September 29, 2026.
- 15th Annual General Meeting scheduled for Wednesday, September 30, 2026, at 04:00 p.m. IST via VC/OAVM
- Cut-off date to determine e-voting eligibility fixed as Wednesday, September 23, 2026
- E-voting begins on Sunday, September 27, 2026 (09:00 a.m. IST) and concludes on Tuesday, September 29, 2026 (05:00 p.m. IST)
- Filing issued pursuant to Regulation 36(1)(b) of SEBI LODR Regulations, 2015
Jainik Power Cables Limited has scheduled its 15th Annual General Meeting (AGM) for September 30, 2026. Key special business items include approval under Section 180(1)(a) to create charges and mortgages on company assets for borrowings up to Rs 150 crore. The company is also seeking shareholder approval to rectify and waive the recovery of excess managerial remuneration paid to Executive Director Prateek Jain and Non-Executive Director Anju Jain (including Rs 22.66 lakh for FY25 and Rs 19.00 lakh for FY26).
- 15th Annual General Meeting convened for September 30, 2026 via video conferencing
- Special resolution proposed to create security/charges on company assets for borrowings up to Rs 150 crore
- Waiver sought for excess remuneration paid to Ms. Anju Jain: Rs 22,66,234 (FY25) and Rs 18,99,962 (FY26)
- Ratification of cost auditor remuneration of INR 40,000 per annum for FY 2026-27
Jainik Power Cables Limited has approved the allotment of 30,00,000 convertible warrants on a preferential basis at an issue price of ₹151.50 per warrant, aggregating up to ₹45.45 crore. The company has received an upfront payment of 25% (₹37.875 per warrant), totaling ₹11.36 crore. The remaining 75% (₹113.625 per warrant) is payable within 18 months upon the exercise of conversion options into equity shares. The allotment was made across 18 allottees, including promoters and non-promoter entities/HNIs.
- Allotted 30,00,000 convertible warrants at an issue price of ₹151.50 per warrant (face value ₹10 plus premium of ₹141.50)
- Total potential fundraise aggregates up to ₹45.45 crore
- Received upfront subscription amount of ₹11.36 crore (25% of issue price)
- Warrants convertible into equity shares within an 18-month window upon receipt of balance ₹34.09 crore (75%)
- Allotment distributed among 18 allottees comprising promoter group and non-promoter investors
Jainik Power Cables Limited has approved the preferential allotment of 30,00,000 convertible warrants at an issue price of Rs. 151.50 each (face value Rs. 10 and premium Rs. 141.50), aggregating up to Rs. 45.45 crore. The company received 25% upfront subscription money amounting to Rs. 11.36 crore (Rs. 37.875 per warrant). The remaining 75% consideration (Rs. 113.625 per warrant) is payable within 18 months upon exercise of conversion into equity shares. The allotment was made to 18 investors across promoter and non-promoter categories.
- Allotment of 30,00,000 convertible warrants at Rs. 151.50 per warrant (premium of Rs. 141.50).
- Upfront receipt of Rs. 11,36,25,000 (25% of total issue price) upon allotment.
- Total fundraise potential of Rs. 45,45,00,000 upon full warrant conversion within 18 months.
- Allotted across 18 entities, including promoters and non-promoter AIFs/entities/individuals.
Jainik Power Cables Limited has announced the closure of its Register of Members and Share Transfer Books from September 24, 2026, to September 30, 2026 (both days inclusive). The book closure is conducted for the purpose of the company's 15th Annual General Meeting (AGM). The AGM is scheduled to take place on Wednesday, September 30, 2026. This is a standard annual compliance requirement with no direct financial impact.
- Book closure period set from September 24, 2026, to September 30, 2026 (both days inclusive)
- 15th Annual General Meeting scheduled for Wednesday, September 30, 2026
- Filing completed under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Jainik Power Cables Limited has scheduled its 15th Annual General Meeting (AGM) for Wednesday, September 30, 2026, at 04:00 PM IST. The meeting will be conducted virtually through Video Conferencing and Other Audio-Visual Means. The company will circulate the Annual Report along with audited financial statements for the financial year ended March 31, 2026, within prescribed statutory timelines.
- 15th Annual General Meeting convened for September 30, 2026, at 04:00 PM IST
- Meeting to be held virtually via Video Conferencing (VC) / Other Audio-Visual Means (OAVM)
- Annual Report and audited statements for FY ended March 31, 2026, to be circulated in due course
- Company name reflects change from Jainik Power and Cables Limited to Jainik Power Cables Limited
Jainik Power Cables Limited held a Board Meeting on September 05, 2026, approving key resolutions ahead of its 15th Annual General Meeting (AGM). The board approved the rectification and waiver of recovery for excess managerial remuneration paid to Executive Director Prateek Jain and Non-Executive Director Anju Jain for FY24-25 and FY25-26. Additionally, the board approved the creation of charges/mortgages on company assets under Section 180(1)(a) of the Companies Act, 2013. The 15th AGM is scheduled for September 30, 2026, with the register of members closed from September 24 to September 30, 2026.
- Approved waiver for recovery of excess managerial remuneration paid to Executive Director Prateek Jain for FY25 and FY26
- Approved waiver for recovery of excess managerial remuneration paid to Non-Executive Director Anju Jain for FY25 and FY26
- Approved creation of charges/mortgages on company assets under Section 180(1)(a) of Companies Act, 2013
- Convening 15th Annual General Meeting on September 30, 2026, via VC/OAVM
- Register of Members closed from September 24, 2026 to September 30, 2026
Jainik Power Cables Limited announced that shareholders have approved all resolutions at the Extraordinary General Meeting held on August 14, 2026, with 100% of polled votes in favor. Key approvals include an increase in the authorized share capital and the issuance of convertible warrants on a preferential basis. A total of 94,78,800 votes were cast, representing a 66.06% turnout across the total share base of 1,43,47,700 shares. Promoters contributed 86,64,000 votes, while public non-institutional shareholders contributed 8,14,800 votes, with zero institutional participation.
- Special resolution to issue convertible warrants on a preferential basis passed with 100% of votes in favor.
- Ordinary resolution to increase Authorized Share Capital and alter Clause V of the MOA passed with 100% approval.
- Overall voting turnout was 66.06% (94,78,800 votes polled out of 1,43,47,700 total shares).
- Promoter voting participation stood at 89.65% (86,64,000 shares) and public non-institutional participation stood at 17.94% (8,14,800 shares).
Jainik Power Cables Limited held its first Extra Ordinary General Meeting (EGM) post-listing on August 14, 2026. Shareholders considered resolutions to increase the company's Authorised Share Capital and issue Convertible Warrants on a preferential basis. These measures are intended to strengthen the capital structure and fund growth initiatives, specifically the company's forward integration into finished power cables expected by December 2025.
- Proposed issuance of Convertible Warrants on a Preferential Basis to raise capital.
- Resolution to increase the Authorised Share Capital and alter Clause V of the Memorandum of Association.
- First General Meeting conducted since the company's successful listing on the NSE Emerge Platform.
- The meeting was attended by 10 members and concluded within 9 minutes (12:30 PM to 12:39 PM).
- Funds are intended to support the transition from a raw material supplier to a finished goods manufacturer.
Financial Performance
Revenue Growth by Segment
Total operating income grew by 3.77% YoY, reaching INR 351.76 Cr in FY25 compared to INR 338.97 Cr in FY24. Growth was primarily driven by higher realization prices in the aluminum rod segment rather than volume increases. Revenue for the first half of FY26 (until September 2025) reached INR 183.4 Cr, with significant growth anticipated from the new finished cable segment.
Geographic Revenue Split
Not disclosed in available documents. The company operates a manufacturing facility in Sonipat, Haryana, serving the domestic market.
Profitability Margins
PAT margins improved significantly from 1.47% in FY24 to 2.63% in FY25, an increase of 116 basis points. Reported Profit After Tax (PAT) rose by 84.37% to INR 9.20 Cr in FY25 from INR 4.99 Cr in FY24. Upward rating sensitivity is tied to achieving operating margins of 5.5-6% through the commercialization of the power cables segment.
EBITDA Margin
Core profitability is expected to improve as the company shifts toward finished cable manufacturing; operating margins are currently targeted to reach 5.5-6% to trigger a rating upgrade. Net cash accruals were INR 10.1 Cr in FY25 and are projected to grow by 48-58% to reach INR 15-16 Cr over the medium term.
Capital Expenditure
The company is establishing a new manufacturing unit for finished cables funded through IPO proceeds, expected to be operational by December 2025. This expansion is the primary driver for the projected net worth increase from INR 24.6 Cr in FY25 to INR 90-95 Cr in FY26.
Credit Rating & Borrowing
Crisil assigned a long-term rating of 'Crisil BBB-/Stable' and a short-term rating of 'Crisil A3'. Interest coverage ratio was strong at 9.57 times in FY25 and is projected to nearly double to 18-19 times in FY26 due to reduced debt reliance and higher accruals.
Operational Drivers
Raw Materials
Aluminum scrap and aluminum ingots are the primary raw materials used for manufacturing aluminum rods, ash, and dross.
Import Sources
Not disclosed in available documents; however, promoters have a background as traders of aluminum scrap and ingots.
Key Suppliers
Not disclosed in available documents. The company leverages established relationships built by promoters over a decade in the industry.
Capacity Expansion
Current installed capacity is 2,000 tons of aluminum rod per month (24,000 tons per annum). A new unit for finished cables is under development and scheduled for completion by December 2025.
Raw Material Costs
Raw material costs are highly sensitive to global aluminum price fluctuations. In FY25, revenue growth was driven by price realizations rather than volume, indicating that input cost volatility directly dictates the top-line and margin profile.
Manufacturing Efficiency
Bank limit utilization averaged 60.25% through September 2025, suggesting efficient use of working capital and sufficient liquidity cushion for operational exigencies.
Strategic Growth
Expected Growth Rate
15-20%
Growth Strategy
Growth will be achieved through forward integration into the finished power cables segment, which is expected to be operational by December 2025. This move aims to capture higher value-add margins and scale operations beyond the current modest level of INR 351.76 Cr. The company is also utilizing IPO proceeds to strengthen its capital base, which is projected to grow net worth by approximately 265-285% by FY26.
Products & Services
Aluminum wire rods (9.5mm), aluminum ash, aluminum dross, and upcoming finished power cables.
Brand Portfolio
Jainik Power Cables (JPCL).
New Products/Services
Finished power cables, with commercialization expected to drive operating margins toward the 5.5-6% range.
Market Expansion
Expansion into the finished cable sector marks a shift from being a raw material/intermediate supplier to a finished goods manufacturer for the power sector.
Market Share & Ranking
Not disclosed in available documents; currently characterized as having a 'modest scale of operations'.
External Factors
Industry Trends
The industry is shifting toward integrated manufacturing. JPCL is positioning itself to move from rod manufacturing (intermediate) to finished cables (end-product) to capture higher margins and mitigate the risks of being a pure-play commodity processor.
Competitive Landscape
The company faces competition from both large-scale cable manufacturers and smaller regional aluminum rod processors.
Competitive Moat
The moat is based on the promoters' extensive 10-year industry experience and their transition from traders to manufacturers, which provides a robust understanding of the scrap-to-finished-product value chain. This is sustainable as it facilitates better procurement and customer retention.
Macro Economic Sensitivity
Highly sensitive to global commodity price cycles, specifically aluminum, which dictates realization prices and revenue growth.
Consumer Behavior
Demand is driven by infrastructure and power sector requirements for aluminum-based cabling and wiring.
Regulatory & Governance
Industry Regulations
Operations are subject to manufacturing standards for aluminum products and safety norms for power cable production.
Risk Analysis
Key Uncertainties
Project-related risk is high as the company enters the finished cable sector, which is distinct from its current rod manufacturing business. Failure to scale this unit effectively by Dec 2025 could impact growth projections by 10-15%.
Geographic Concentration Risk
Manufacturing is concentrated in a single facility in Sonipat, Haryana.
Third Party Dependencies
Dependency on aluminum scrap and ingot suppliers; however, promoters' trading background mitigates this risk.
Technology Obsolescence Risk
The shift to finished cable manufacturing requires updated technology and processes compared to simple rod drawing.
Credit & Counterparty Risk
Receivables quality is not explicitly detailed, but the company maintains a healthy current ratio of 1.4 times.
