Om Power Transmission IPO

Strengths · 5

• 01The company has a strong order book of around ₹744.60 crore as of December 2025, which has grown nearly 69% from FY25 levels, giving good revenue visibility for coming years.
• 02Revenue has grown at a healthy CAGR of 52.45% from FY23 to FY25, showing solid business momentum.
• 03It holds a "Class AA" contractor accreditation with GETCO, which allows it to bid for large 400 kV high-voltage transmission projects — a big technical advantage over smaller rivals.
• 04The company has experienced promoters and senior management with deep domain expertise in the power transmission sector, which helps in winning and executing complex tenders.
• 05It has a proven track record of timely project execution, including completing most projects awarded through competitive bidding , which builds long-term credibility with PSU clients.

Risks · 5

• 01The business is heavily concentrated in Gujarat, which exposes it to regional economic, political and local market risks if anything goes wrong in that state.
• 02There is very high dependence on PSU tenders, which made up about 84% of the order book in FY25 , so any change in government spending can directly hit revenue.
• 03The company reported negative operating cash flow of around ₹37.39 crore in 9M FY26, meaning book profits are not fully converting into actual cash.
• 04Trade receivables stood at around ₹144.07 crore as of December 2025, putting pressure on working capital in this capital-heavy EPC business.
• 05Since most projects are won through competitive bidding, failure to qualify or win new contracts can directly hurt growth, margins and cash flow stability

Om Power Transmission Limited was established in the early 2000s with the objective of supporting India’s expanding power infrastructure. Over the years, the company has steadily grown its presence in the power transmission and distribution sector by executing projects across multiple states. Backed by experienced promoters with strong industry knowledge, the company has built technical capabilities in handling complex infrastructure assignments. It has developed a track record of working with government bodies, state utilities, and institutional clients, which has helped in strengthening its credibility and long-term relationships within the sector.

The company primarily offers engineering, procurement and construction (EPC) services for power transmission lines, substations, and related infrastructure. Its business model is project-based, where it undertakes turnkey contracts and manages everything from design and sourcing to execution and commissioning. By focusing on timely project delivery, cost optimisation, and quality standards, the company aims to ensure client satisfaction and repeat business. Om Power Transmission continues to expand its operational footprint while maintaining a disciplined approach towards project execution and financial management, positioning itself as a reliable player in India’s power infrastructure space.

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