Ekkaa Electronics (India) Ltd.
vs. prev. close ₹500
Market cap
₹4,210 Cr
IPO stage
No DRHP filed
CIN
U32304DL2021PLC379143
Price History
About Ekkaa Electronics (India) Ltd.
Ekkaa Electronics is a fast-scaling EMS play riding India's electronics manufacturing boom, backed by a fresh institutional raise and visible pre-IPO moves - but the growth is still funded by rising debt and stretched working capital, so this is one for investors comfortable underwriting execution risk alongside the opportunity.
Short Version :
Ekkaa Electronics (India) Limited is a Noida (Uttar Pradesh)-headquartered Electronic Manufacturing Services (EMS) company, assembling consumer electronics and appliance components, LED products, washing machines, air coolers, speakers and induction cooktops, for OEM customers, with plants at Noida and a newly added facility at Ganaur, Haryana. On a consolidated basis (post the August 2025 acquisition of Ekkaa Electronics Industries Private Limited), FY26 revenue was Rs 1,221.76 crore, up sharply from Rs 496.51 crore in the prior, standalone-only comparative year, with PAT of Rs 65.44 crore (Rs 23.51 crore FY25). Book value stood at Rs 34.94 per share (Rs 6.04 FY25) with EPS of Rs 9.05 (Rs 3.62 FY25) and ROE of 25.91% (59.90% FY25, on a non-comparable standalone base). The company converted from a private to a public limited company in May 2026 and raised Rs 100 crore in a Series B CCPS round from Abakkus Four2Eight Opportunities Fund in July 2026, pointing toward pre-IPO positioning.
Why It Trades Where It Does :
Ekkaa sits in India's EMS/contract-manufacturing space for consumer durables and electronics, a sector riding strong tailwinds from PLI-linked import substitution and large OEMs (white-goods and electronics brands) outsourcing assembly in India, alongside listed peers such as Dixon Technologies and Amber Enterprises that anchor sector comparables. Ekkaa is a smaller, closely-held, rapidly scaling player in this space, with revenue roughly 2.5x year-on-year (helped by the subsidiary acquisition) and PAT nearly tripling. The Series B institutional raise at a Rs 1,461 per share premium, the post-year-end 1:2 split and 3:1 bonus issue, and the private-to-public conversion all read as deliberate pre-IPO preparation, which is typically the strongest valuation catalyst for an unlisted EMS name. Against that, the business remains thinly disclosed outside the raw financial statements, is almost entirely promoter-owned, and funds its growth with negative operating cash flow and rising secured debt, all of which investors should weigh against the growth narrative.
Top Risk :
No Directors' Report, MD&A, or Auditor's Report/CARO section was available in the uploaded filing, which limits visibility into qualitative risks, contingencies, and any audit observations that may exist.
FY26 operating cash flow was negative (Rs 28.66 crore outflow, following a Rs 64.52 crore outflow in FY25) despite rising profitability, driven by sharply higher inventories (up from Rs 130.30 crore to Rs 252.04 crore) and trade receivables (up from Rs 75.11 crore to Rs 218.58 crore) as the business scales.
Total borrowings reached Rs 308.75 crore against equity of Rs 252.62 crore (debt-equity of roughly 1.22x), with security spanning equitable mortgages over promoter and group-entity (Gaurisuta Industries LLP, Gaurisuta Enterprises Private Limited) properties, plus personal guarantees of the promoters.
Customer concentration is material: the top 3 customers accounted for roughly 42.5% of FY26 revenue from contracts.
Dues to micro and small enterprises (MSME) jumped from Rs 0.49 crore to Rs 27.78 crore year-on-year, a signal of growing working-capital stress even as the top line expands.
FY26 results include a part-year contribution from an acquired subsidiary and are not comparable to the FY25 standalone base, making reported growth rates partly inorganic.
Top Opportunities :
A Rs 100 crore Series B CCPS raise from Abakkus Four2Eight Opportunities Fund (July 2026) at a steep premium to face value is a strong institutional validation and funding signal.
Conversion to a public limited company (May 2026), coupled with a share split and bonus issue, points toward active pre-IPO preparation.
The EMS/contract manufacturing sector for Indian consumer electronics and appliances is in a structural growth phase, backed by PLI incentives and OEMs' continuing shift of assembly work onshore.
Revenue grew roughly 2.5x and PAT nearly tripled year-on-year, with a new Ganaur, Haryana facility added during the year, indicating active capacity expansion (gross block more than doubled during FY26) ahead of demand.
No contingent liabilities were disclosed as at 31 March 2026, and the company met its CSR spending obligation in full (Rs 4.80 crore spent against Rs 4.53 crore required).
Disclaimer :
Priveq.in is an informational platform for unlisted and pre-IPO shares, operated by Priveq Investech Private Limited (the named counterparty on transactions). Unlisted shares carry risks including illiquidity, valuation uncertainty, and limited regulatory disclosure. This page is informational only and does not constitute investment advice.
Company Details
Industry
Electronics
Founded
2021
Headquarters
New Delhi, India
Min Lot Size
100
Face Value
₹5.00
Total Shares
84197664
Regulatory Information
Corporate Identity Number (CIN)
U32304DL2021PLC379143
PAN Number
AAGCE3953P
ISIN
INE0T2S01023
Key Valuation Ratios
Valuation
Market Cap
₹4,209.88 Cr
P/E Ratio
64.33×
P/S Ratio
3.45×
P/B Ratio
16.67×
EV / EBITDA
37.19×
Returns & Per Share
ROE
25.90%
EPS
₹7.77
Book Value / Share
₹30.00
Solvency
Debt / Equity
1.22×
Interest Coverage
3.85×
Company Fundamentals
As of FY2026 Annual · updated 19 Oct 2026Gross Profit
₹180.04 Cr
EBITDA
₹121.17 Cr
Revenue Growth
146.07%
Profit Margin
5.36%
Performance Trends
2 annual periods · derived from filed statements
Revenue
₹ Cr
Net Profit
₹ Cr · losses in red
Earnings Per Share
₹ per share
Return on Equity
ROE %
Return on Capital Employed
ROCE %
Debt-to-Equity
1.22×
EBITDA Margin
9.92%
Interest Coverage
3.85×
Financial Statements
| Line item | FY2025 | FY2026 |
|---|---|---|
| Total Income | ||
| Revenue from operationsDisclosed | 496.51₹ Crore | 1,221.76₹ Crore |
| Other incomeDisclosed | 2.1₹ Crore | 6.64₹ Crore |
| Total IncomeDerived | 498.61₹ Crore | 1,228.4₹ Crore |
| Expenses | ||
| Cost of goods soldDisclosed | 418.27₹ Crore | 1,041.72₹ Crore |
| Purchases of stock-in-tradeDisclosed | 0₹ Crore | 0₹ Crore |
| Changes in inventoriesDisclosed | -8.14₹ Crore | -27.44₹ Crore |
| Employee benefits expenseDisclosed | 6.67₹ Crore | 14.82₹ Crore |
| Finance costsDisclosed | 21.51₹ Crore | 27.88₹ Crore |
| Depreciation and amortization expenseDisclosed | 8.79₹ Crore | 13.71₹ Crore |
| Manufacturing expensesDisclosed | 0₹ Crore | 0₹ Crore |
| Operating expensesDisclosed | 0₹ Crore | 0₹ Crore |
| Other expensesDisclosed | 24.31₹ Crore | 78.12₹ Crore |
| Total ExpensesDerived | 471.41₹ Crore | 1,148.82₹ Crore |
| Profit | ||
| Exceptional itemsDisclosed | 0₹ Crore | 0₹ Crore |
| Profit before taxDerived | 27.2₹ Crore | 79.59₹ Crore |
| Current tax expenseDisclosed | 1.83₹ Crore | 14.54₹ Crore |
| Deferred tax expenseDisclosed | 1.86₹ Crore | -39.5₹ Lakh |
| Tax expenseDisclosed | 3.69₹ Crore | 14.15₹ Crore |
| Profit After TaxDerived | 23.51₹ Crore | 65.44₹ Crore |
| Other comprehensive incomeDisclosed | 0₹ Crore | -30₹ Thousand |
| Total Comprehensive IncomeDerived | 23.51₹ Crore | 65.44₹ Crore |
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About Ekkaa Electronics (India) Ltd. unlisted shares
Indicative · updated dailyEkkaa Electronics (India) Ltd. unlisted share price today
Ekkaa Electronics (India) Ltd. unlisted share price today is ₹500 as of 19 October 2026.
Ekkaa Electronics (India) Ltd. — frequently asked questions
- What is the grey market price for Ekkaa Electronics (India) Ltd.?
No IPO is currently announced for Ekkaa Electronics (India) Ltd., so no grey market exists; the price above reflects Priveq's own desk valuation.
- Has Ekkaa Electronics (India) Ltd. filed for an IPO, and when might it list?
Ekkaa Electronics (India) Ltd. has not filed a draft red herring prospectus, so no IPO is currently announced and no listing date has been set.
- How does Ekkaa Electronics (India) Ltd. compare to its listed peers?
There is no closely comparable listed company for Ekkaa Electronics (India) Ltd. in India today.
- Is Ekkaa Electronics (India) Ltd. on the SME or Mainboard IPO track?
Ekkaa Electronics (India) Ltd. has not filed a draft red herring prospectus, so no IPO track is set yet.
- What is Ekkaa Electronics (India) Ltd.'s CIN and registered office?
Ekkaa Electronics (India) Ltd.'s Corporate Identity Number is U32304DL2021PLC379143, registered at New Delhi, India.
- What is Ekkaa Electronics (India) Ltd.'s market capitalisation?
Ekkaa Electronics (India) Ltd.'s market capitalisation is approximately ₹4,210 crore, based on its current unlisted share price.
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