Orient Cables (India) Ltd IPO

One of the leading specialty cable manufacturers for telecommunications in India, in terms of the range of products manufactured, in an industry with high entry barriers.

Diversified portfolio of customized products and solutions across end user industries.

Long standing customer relationships with marquee clientele.

Strategically located Manufacturing Facilities with a focus on product innovation through in-house capabilities.

Experienced promoters and professional management with domain knowledge.

Strong financial performance with high balance sheet efficiency through automation.

The companys brand and reputation are important to its business. Any adverse publicity or intellectual property dispute relating to the ORIENT brand may adversely affect the companys business, results of operations, prospects and cash flows.

Significant increases or fluctuations in prices of, or shortages of, or delays or disruptions in the supply of primary raw materials, of which over 74.91% and 69.71% were sourced from the companys top 10 suppliers in the three months period ended June 30, 2026 and Fiscal 2026, respectively, could adversely impact its estimated costs, project timelines, and expenditures, and may have a material adverse effect on the companys business, financial condition, results of operations and cash flows.

The company derives 84.00% and 76.52% of its revenue from operations from the companys top 10 customers as of the three months period ended June 30, 2026 and Fiscal 2026, respectively. If one or more of such customers choose not to source their requirements from the company or to terminate its contracts or purchase orders, the companys business, cash flows, financial condition and results of operations may be adversely affected.

The company is subject to strict quality requirements and any product defect issues or failures by the company or its raw material suppliers to comply with quality standards may lead to the cancellation of existing and future orders, recalls or warranty and exposure to potential product liability claims.

The companys continued operations at two of its Manufacturing Facilities, concentrated in Rajasthan are critical to the companys business and any disruption, breakdown or shutdown of its manufacturing facilities or any significant social, political, economic or seasonal disruption, natural calamities or civil disruptions in Rajasthan may have an adverse effect on the companys business, financial condition, results of operations and cash flows.

Any underutilization of the companys manufacturing capacities could have an adverse effect on its business, future prospects and future financial performance.

The company has not availed any credit rating since Fiscal 2025 and the last credit ratings assigned to the company was CRISIL B /Stable (Issuer not cooperating) by way of letter dated December 29, 2023 and CRISIL B /Stable (Issuer not cooperating; Rating continues at the same level) dated November 29, 2024. Any adverse perception arising from the absence of a current credit rating, or from its previous credit rating may affect the Companys ability to avail of debt and could also impact the trading price of the Equity Shares.

The companys Statutory Auditors have included certain emphasis of matter and/or observations on the Companies (Auditors Report) Order, 2020 (CARO) in their reports for the financial statements as of and for the Fiscals 2026, 2025 and 2024.

One of the members of the Promoter Group, Radhika Julka, the sister of the companys Promoter Vipul Nagpal, has been disclosed in the list of Wilful Defaulters. While the company has been informed that the bank statements indicate that the loan has been repaid, the no objection certificate from the bank is awaited.

The company has had negative cash flows from operating and investing activities in the three months period ended June 30, 2026, Fiscal 2026 and Fiscal 2025 and may continue to have negative cash flows in the future which could have an impact on the companys business and operations.