Bhadora Industries Limited
Minimum investment
Bidding date
04 Aug - 06 Aug 2025
Price range
₹97 - ₹103
Minimum quantity
2,400
Minimum investment
₹1,16,400
Issue size
—
IPO doc (link)
RHP docs
Listing exchange
NSE/BSE
Bhadora Industries Limited, incorporated in April 1986, is a well-established manufacturer of industrial-grade electric cables operating under the brand name "Vidhut Cables." The company specializes in the production of Polyvinyl Chloride (PVC) cables, Low Voltage (LV) cables, LT Aerial Bunched Cables, and Cross-Linked Polyethylene (XLPE) cables.
With over three decades of experience, Bhadora Industries primarily serves government discoms and EPC (Engineering, Procurement, and Construction) companies, making it a key player in India’s power transmission and distribution ecosystem. Its product portfolio is widely used across Andhra Pradesh, Assam, Bihar, Chhattisgarh, Delhi, Haryana, Himachal Pradesh, Jammu & Kashmir, Jharkhand, Kerala, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Telangana, Uttar Pradesh, and Uttarakhand.
The company’s manufacturing unit, located in Tikamgarh, Madhya Pradesh, spans over 15,028 sq. ft. and is certified with BIS (Bureau of Indian Standards) accreditations for Quality Management (ISO 9001:2015), Environmental Management (ISO 14001:2015), and Occupational Health and Safety (ISO 45001:2018). As of June 30, 2025, Bhadora Industries has a team of 87 employees across various departments.
Established Industry Presence: Operating since 1986 under the brand name “Vidhut Cables”, Bhadora Industries enjoys brand credibility and a loyal client base in the government and EPC space.
Diverse Product Portfolio: The company manufactures a range of cables including PVC, LV, XLPE, and LT Aerial Bunched Cables, making it a versatile player catering to multiple industrial needs.
Certified Manufacturing Unit: Its facility is BIS certified and holds ISO 9001, ISO 14001, and ISO 45001 accreditations, ensuring that its manufacturing standards meet stringent quality, environmental, and safety benchmarks.
Strong Management Backbone: Promoters like Shashank Bhadora, Pradeep Bhadora, and Anil Bhadora bring deep industry expertise and vision, aiding in operational efficiency and long-term strategy.
Impressive Financial Metrics: Consistent year-on-year revenue growth, rising PAT, and robust return ratios like ROCE at 42.41% indicate solid financial health.
Government Dependency: A significant portion of revenue comes from government projects, which may be affected by delays in approvals, budget reallocations, or changes in policy.
Regional Revenue Concentration: Although Bhadora Industries has a pan-India footprint, a large portion of its revenue may be regionally concentrated, exposing it to state-level economic or political risks.
Industry Competition: The cable manufacturing sector has intense competition, especially from larger and more diversified players, which may impact pricing power and margins.
Promoter Dilution Post-IPO: After the IPO, promoter shareholding will reduce from 92.42% to 65.59%, potentially impacting their control and influence over strategic decisions in the long term.
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