Ashish Kacholia Increases Stake in Electrical Equipment Company; Shares Locked in 5% Upper Circuit After Rs 66.6 Crore Order and Q1 Business Update

On Thursday, Indian equity benchmark indices traded lower, with the benchmark Nifty 50 index declining 32.80 points, or 0.14 per cent, to 23,963.45. Despite the weak market sentiment, INDO SMC share price was locked in the 5 per cent Upper Circuit at Rs 427.25 after the company announced a major order win and shared its Q1 FY27 business update.

INDO SMC Rs 66.6 Crore Order Win

INDO SMC informed the exchanges that it has received a purchase order worth Rs 66.60 crore from a prominent Indian engineering company engaged in heavy fabrication for sectors such as power, sugar, cement, infrastructure and Railways. The order is for the supply of Variable Frequency Drive (VFD) Panels, which are used to regulate the speed and torque of electric motors by controlling the voltage and frequency of the power supplied to them.
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INDO SMC Shareholding Pattern

As per the latest June 2026 shareholding pattern, the promoters continued to hold a 60.25 per cent stake in the company, while public shareholding increased to 36.97 per cent from 32.14 per cent in the previous quarter. During the quarter, Ace Investor Ashish Kacholia increased his stake in the company to 3.03 per cent from 2.46 per cent. Meanwhile, FII holding declined to 0.13 per cent from 0.82 per cent, and DII holding fell to 2.65 per cent from 6.79 per cent. The total number of shareholders also increased to 1,334 in June 2026 from 944 in March 2026.

INDO SMC Q1 FY27 Business Update

As part of its Q1 FY27 business update, INDO SMC reported revenue of Rs 88.12 crore, reflecting 135.96 per cent year-on-year growth. The Nashik facility contributed Rs 64.68 crore to revenue during the quarter, followed by Ahmedabad with Rs 21.46 crore and Ghiloth with Rs 1.99 crore.

INDO SMC Business Highlights

During the quarter, the company installed Pultrusion Machines at its Ahmedabad manufacturing facility to strengthen its FRP manufacturing capabilities and support future demand. It also progressed with the development of Vacuum Circuit Breakers (VCBs) and 33 kV Metering Cubicles, with approvals currently under process.

The company also executed its first export shipment of FRP products to Oman, marking its entry into international markets. Additionally, it secured a tarpaulin order from Indian Railways, further strengthening its presence in government and infrastructure projects.

About INDO SMC

INDO SMC Ltd is an integrated manufacturer of advanced electrical enclosures, Transformers, switchgear, SMC and FRP-based products catering to the power distribution, industrial and infrastructure sectors. The company operates dedicated SMC, FRP and Electrical Component divisions with manufacturing facilities across Gujarat, Maharashtra and Rajasthan, supported by in-house research, development and testing capabilities.

The company continues to strengthen its market position through capacity expansion, product development and customer diversification. It is expanding its presence across utility, railway and infrastructure projects while increasing exports and developing products such as VCB Panels, Metering Cubicles and RMUs to cater to growing demand in the electrical infrastructure sector.

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Disclaimer: The article is for informational purposes only and not investment advice.