Ekkaa Electronics (India) Ltd
Delhi-based contract manufacturer of LED televisions and consumer appliances for Indian and global brands, which more than doubled revenue to ₹1,222 Cr in FY26, raised ₹110 Cr from marquee investors in 2025 and filed for a ₹725 Cr IPO in September 2026.
Market cap
₹92.63 Cr
0.93 Cr shares
P/E ratio
1.42
Sector average 50
Book value
₹235.62
P/B 0.42
1-year return
+0.00%
52w ₹100 – ₹100
Currently 0% of the way through its 52-week range.
Indicative price history
1Y change
+0.00% ₹100 → ₹100
52-week band in this window: ₹100.00 – ₹100.00. Weekly indicative marks, not exchange-traded prices.
Key highlights
- FY26 revenue ₹1,221.76 Cr (+146%) and PAT ₹65.38 Cr; FY25 revenue ₹496.5 Cr, EBITDA ₹55.4 Cr, PAT ₹23.55 Cr (DRHP summaries).
- DRHP filed with SEBI around 24 Sep 2026 for a ₹725 Cr IPO (₹525 Cr fresh + ₹200 Cr OFS); BRLM Motilal Oswal, registrar Bigshare.
- ₹109.88 Cr CCPS round in Sep 2025 at ~₹721 Cr valuation (investors include Sunil Singhania, Mukul Agrawal per UnlistedZone).
- Rate ₹100 is wwipl's last trade (21 Jul 2026) on 92.63 lakh shares — implies only ~₹93 Cr market cap, inconsistent with the funding valuation; UnlistedZone shows no price. Verify before trading.
About Ekkaa Electronics
Ekkaa Electronics (India) Limited is an electronics manufacturing services (EMS) company that designs and assembles LED and smart televisions, and increasingly other consumer appliances and electronic sub-assemblies, for brand owners on an ODM/OEM basis. Its factories are in Noida, Uttar Pradesh, with in-house capabilities in SMT, open-cell bonding, injection moulding and final assembly, and it serves domestic consumer-electronics brands, retailers' private labels and export customers. The company benefits from India's production-linked and tariff policies that have moved TV and appliance assembly onshore, and from brand owners outsourcing manufacturing to focus on marketing.
The company is promoted by the Gupta family of Pitampura, New Delhi: Chandra Prakash Gupta (56) is chairman, his wife Madhuri Gupta (53) is an executive director overseeing overall management, and their son Sagar Gupta (30) is managing director and the face of the business. An earlier plant at Sonipat, Haryana, was wound down and its work shifted to Noida. In September 2025 the company raised ₹109.88 Cr through compulsorily convertible preference shares at a valuation of about ₹721 Cr from investors including Sunil Singhania and Mukul Agrawal (per UnlistedZone's coverage), its first institutional-style capital.
Growth has been explosive. Per the DRHP summary tables carried by IPO trackers, revenue from operations was ₹496.5 Cr in FY25 with EBITDA of ₹55.4 Cr and profit after tax of ₹23.55 Cr; in FY26 revenue rose 146% to ₹1,221.76 Cr and profit after tax to ₹65.38 Cr. wwipl's page (July 2026) shows 92,63,158 shares outstanding, a book value of ₹46.35 a share and a P/E of 3.89 at its last traded price of ₹100 — ratios consistent with the FY25 profit on that share base. Balance-sheet, cash-flow, depreciation, interest and tax lines in this profile are estimates built around the reported revenue, EBITDA, PAT and book value, pending the DRHP's restated financials.
On or about 24 September 2026 the company filed a draft red herring prospectus with SEBI for an IPO of up to ₹725 Cr — a fresh issue of up to ₹525 Cr and an offer for sale of up to ₹200 Cr — with Motilal Oswal Investment Advisors as book-running lead manager and Bigshare Services as registrar. Proceeds are expected to fund capacity expansion, working capital and debt repayment. UnlistedZone lists the shares (ISIN INE0T2S01015) but shows no indicative price yet; the only dealer quote found is wwipl's ₹100 last traded (21 July 2026), which is the rate used here. On 92.63 lakh shares that implies a market capitalisation of only about ₹93 Cr — roughly 1.4 times FY26 profit and a fraction of the ₹721 Cr valuation at which investors subscribed in September 2025 — so the ₹100 figure is almost certainly stale, pre-dates a corporate action, or refers to a different share base; treat it as a placeholder and confirm the live rate, the post-CCPS share count and any bonus or split with the dealer.
Verification status (10 Oct 2026): FY25 and FY26 revenue, EBITDA and PAT, the IPO size and structure, lead manager, registrar and the promoters' names and roles are from DRHP coverage (Chittorgarh, IPO Platform, HDFC Sky, Telangana Today); the ₹109.88 Cr CCPS round at ₹721 Cr is from UnlistedZone's article; the ISIN, 92.63 lakh shares, book value and the ₹100 rate are from wwipl's page. The CIN (left blank; an 'Ekkaa Electronics Industries Private Limited', CIN U32302DL2018PTC332875, appears in the registry and may be a group entity), incorporation date (indicative), registered address wording, headcount, balance-sheet and cash-flow lines, segment split and shareholding percentages are estimates or unverified.
Where the revenue comes from
- LED & smart televisions (ODM/OEM)80%
Contract design and manufacture of TVs for brands and private labels (estimate)
- Other appliances & electronics15%
Washing machines, audio, displays and sub-assemblies (estimate)
- Components & services5%
Moulded parts, boards and after-sales support (estimate)
Products & services
LED & smart TVs
Full-range LED, smart and 4K televisions designed and assembled for brand customers, with in-house SMT, open-cell bonding and moulding.
Consumer appliances
Washing machines, audio products and other appliances manufactured on an OEM/ODM basis as the product range broadens beyond TVs.
Sub-assemblies & components
Printed-circuit-board assemblies, moulded cabinets and other components for electronics brands.
What works
- • Hyper-growth with profits: revenue up 146% to ₹1,221.76 Cr in FY26 and PAT up to ₹65.38 Cr from ₹23.55 Cr, in an EMS segment where Make-in-India tariffs and PLI have shifted TV and appliance assembly onshore.
- • Marquee backing and a live IPO process: ₹109.88 Cr raised via CCPS in September 2025 at a ₹721 Cr valuation from investors including Sunil Singhania and Mukul Agrawal, followed by a ₹725 Cr DRHP filed with SEBI in September 2026 with Motilal Oswal as lead manager.
- • Integrated ODM capability: in-house design, SMT, open-cell bonding, moulding and assembly at Noida let brand owners outsource complete products, and the model extends from TVs into other appliances.
- • Founder-led by a young managing director (Sagar Gupta) with the family's capital at risk, and a fresh-issue-heavy IPO (₹525 Cr of ₹725 Cr) that would fund capacity rather than only cash out promoters.
What to watch
- • The ₹100 rate is unreliable: it implies a ~₹93 Cr market cap on 92.63 lakh shares, far below the ₹721 Cr September 2025 valuation and only 1.4x FY26 profit — the quote is likely stale or on a pre-corporate-action share base; UnlistedZone shows no price at all.
- • Customer and product concentration: contract TV manufacturing is a low-margin, high-volume business (FY25 EBITDA margin about 11%) dependent on a few brand customers, open-cell panel imports and rupee movements.
- • Pre-IPO lock-in and dilution: shares bought now will be locked in for six months after IPO allotment, the ₹525 Cr fresh issue dilutes existing holders, and the IPO may be delayed or repriced if markets turn.
- • Disclosure gaps: no audited balance sheet, CIN or shareholding pattern has been published in the sources found; the restated DRHP financials may differ from the tracker tables used here.
Compare with peers
| Company | Price | Market cap | P/E | P/B | Rev CAGR |
|---|---|---|---|---|---|
| Ekkaa ElectronicsThis page | ₹100.00 | ₹92.63 Cr | 1.42 | 0.42 | +146.07% |
| Polymatech | ₹38.76 | ₹1,676 Cr | 4.46 | 1.86 | +71.10% |
| RRP Electronics | ₹114.24 | ₹1,142 Cr | — | 6.35 | +400.00% |
| Lava | ₹45.90 | ₹2,514 Cr | 218.57 | 2.87 | -11.64% |
Latest reported year: FY26 ending 31 Mar 2026.