MV Electrosystems Limited
Listing performance
Key dates
Issue reservation
₹290 CrLot ladder — how much to bid
1 lot = 34 sharesIssue details
⚠ Grey-market premium is unofficial, unregulated and not investment advice. 7-day trend shown.
MV Electrosystems Ltd.'s revenue decreased by 23% and profit after tax (PAT) dropped by 1000% between the financial year ending with March 31, 2026 and March 31, 2025.
Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
Assets | 145.74 | 74.12 | 65.58 |
Total Income | 49.79 | 64.64 | 50.57 |
Profit After Tax | -12.63 | 1.40 | 0.56 |
EBITDA | -9.94 | 8.92 | 6.41 |
NET Worth | 62.57 | 17.91 | 16.53 |
Reserves and Surplus | 52.34 | 8.77 | 9.15 |
Total Borrowing | 49.89 | 27.50 | 27.59 |
Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
# | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
1 | Funding long-term working capital requirements of the Company | 180.00 |
2 | Investment in research design and development activities for new power electronic equipment | 21.00 |
3 | General corporate purpose | |
Total | 201.00 |
MV Electrosystems Limited is engaged in the design, development, assembly and manufacturing of electrical & power electronics equipment used in Railway rolling stock including IGBT based 3-Phase Drive Propulsion equipment for electric locomotives, switchgear panels for railway coaches & EMU’s, cable protection & management products and electrical components, systems & sub-systems.
Operating from a modern integrated facility, the company manages the complete product lifecycle including design, prototyping, precision manufacturing, testing, and commissioning. Its portfolio covers IGBT converters, auxiliary converters, vehicle control units, driver display units, and cable protection products, delivering application-specific solutions for both domestic and international railway projects.
As of June 2026, MV Electrosystems’ total executable order book aggregated to ?921.64 crore (excluding taxes). This includes the supply of 564 3-Phase Propulsion Equipment and AMC on 555 propulsion sets valued at ?79.9 crore for a period of three years after completion of the warranty.
The company received a developmental order from Chittaranjan Locomotive Works (CLW), Indian Railways for one IGBT-based 3-Phase Drive Propulsion Equipment with Composite Converter for WAP-7 locomotives. The order value is ?2.51 crore, along with a three-year comprehensive AMC worth ?0.15 crore.
The company also secured an order from Modern Coach Factory (MCF), Indian Railways for six Microprocessor-controlled IGBT 3-Phase Propulsion Equipment for MEMU 12-car rakes. The equipment is valued at ?86.55 crore, with a three-year AMC of ?4.69 crore, aggregating to a total order value of ?91.23 crore, excluding taxes.
Additionally, the company received an order from Banaras Locomotive Works (BLW), Indian Railways for one 2x500 KVA Hotel Load Converter. The order value is ?0.80 crore, with a three-year AMC worth ?0.03 crore, bringing the total to ?0.83 crore, excluding taxes.
Through adherence to RDSO specifications and IEC/EN standards, coupled with strong capabilities in system integration, engineering configuration, and quality assurance, the company positions itself as a reliable partner in railway propulsion and electrification projects, consistently expanding its footprint across Indian Railways.
Company strengths
Competitive Strength
Engineering and systems design focused railways company with strong in-house research, design & development capabilities for highly engineered and complex railway systems, combining precision and domain expertise
Ability to create precision driven design & development capabilities and safety critical & complex railway electric equipment acts as high barriers to entry in this segment
Long-standing and deep relationship with Indian Railways
Experienced Promoter and management team with strong implementation skills and operational effectiveness
Business Strategies
Leverage the domain experience and capabilities by continuing to diversify the product base and increase penetration across different global regions & synergetic potential applications like Renewable Energy Projects, Industrial & Commercial Power Conversion Systems, Energy Storage Systems, Electric Mobility & Charging Infrastructure
Development and / or acquisition of new products that are used in conjunction with propulsion equipment in line with the newer opportunities under Indian Railways
Increase the manufacturing capabilities, reduce operating costs and improve operating efficiencies
Make in India and focus on developing in-house intellectual property rights
Scalable Business Model with Focus on High-Value Products and opportunity to enter into rolling stock manufacturing capabilities
Promoters
Registered office & contact
MV Electrosystems Ltd. Address
Plot No. 7,
Site No 2, 14/3,
Mathura Road,
Faridabad, Haryana, 121003
+91 92 1199 9711
cs@mvelectrosystems.com
What is the minimum investment in the MV ELECTROSYSTEMS LIMITED IPO?
One lot of 34 shares — ₹14,450 at the upper price band of ₹425.
How many bids can I place?
Up to 3 bids per application. Retail applications are capped at ₹2,00,000; above that you must apply in the HNI category.
When are the funds debited?
Funds are blocked via a UPI mandate at application and debited only on allotment. If shares are not allotted, the block is released automatically.
When will the shares list?
Tentative listing on 2026-08-06 on NSE / BSE.