Sundae Capital Advisors Pvt.Ltd.
Incorporated in 2009, MV Electrosystems Ltd. is a specialized manufacturer and systems integrator of mission-critical electrical and power electronics equipment for railway rolling stock. The company’s core product ecosystem spans IGBT-based 3-phase drive propulsion systems for electric locomotives, switchgear panels for railway passenger coaches and Electric Multiple Units (EMUs), comprehensive cable protection and management solutions, as well as high-performance electrical components and sub-systems.
The company operates at the center of India’s multi-decade rail infrastructure modernization drive, benefiting from structural macro tailwinds such as 100% broad-gauge network electrification, stringent “Make in India” localization mandates, and ongoing network expansions, including high-speed rail corridors. MV Electrosystems maintains an end-to-end integrated operating framework combining solution design, advanced manufacturing, and stringent quality-testing processes to deliver high-precision, client-centric engineering solutions for heavy-duty industrial applications.
The platform’s technological core is driven by its dedicated in-house Research, Design & Development (RD&D) center in Faridabad, Haryana. This facility serves as the primary engine for product innovation, advancing complex power electronics and customized railway sub-systems to maintain competitive engineering standards.
As of May 31, 2026, the company backed its technological and operational scale with a specialized team of 206 permanent employees.
For the year/period ended (Rs. in Cr.)
| FY26 | FY25 | FY24 | |
|---|---|---|---|
| Total Revenue | 49.42 | 62.63 | 49.95 |
| Profit After Tax | (12.69) | 1.38 | 0.64 |
| EPS | (6.52) | 0.76 | 0.44 |
| EBITDA Margin (%) | (19.97) | 13.80 | 12.67 |
| PAT Margin (%) | (25.36) | 2.17 | 1.10 |
For year/ period ended ( in Cr.)
| Company Name | Market Cap (Cr.) | Price | P/BV | P/E | Sales (Cr.) FY26 |
Net Profits(Cr.) FY26 |
|---|---|---|---|---|---|---|
| MV Electrosystems Ltd. | 1,159.52 * | 425 | 13.90 | (68.88) | 49.42 | (12.69) |
| Hind Rectifiers Ltd. | 4,731 | 1334 | 22.0 | 102 | 999 | 38.6 |
*Market cap @upper band
The Company IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
At the upper band of IPO ₹ 425, the stock is valued at (68.88) P/E multiple. Hence, well-informed investors subscribe for medium to long term perspective.