Susan Electricals reported a significant turnaround in its first quarter of FY27, posting a net profit of ₹639.13 lakh compared to a net loss of ₹41.55 lakh in the same period last year. The Ghaziabad-based wire and cable manufacturer also saw its revenue from operations surge by 278.95% year-on-year to reach ₹9,535.68 lakh.

The company, which manufactures winding wires, conductors, and power cables for government utilities and EPC firms, attributed the strong performance to robust execution and an evolving product mix. Operating profit expanded sharply by 980.20% to ₹1,137.34 lakh, reflecting improved operational efficiency across its three manufacturing units.

Financial Performance

The quarter marked a distinct shift in profitability metrics for Susan Electricals. While revenue nearly quadrupled compared to Q1FY26, the margin expansion was even more pronounced due to the strategic pivot towards higher-value products.

Operating margins improved by 774 basis points to 11.90%, up from 4.18% in the previous year. Similarly, the PAT margin swung from -1.65% to 6.70%, indicating that the revenue growth was accompanied by substantial cost efficiencies or better realizations.

What the Numbers Show

The financial improvement is directly linked to a deliberate shift in the company's product mix. In Q1FY27, LT Cables & Conductors accounted for 65.68% of total revenue, a significant increase from 46.70% in Q1FY26. Conversely, the share of Winding Wires, traditionally a lower-margin commodity product, dropped from 47.74% to 24.39%. This structural change towards value-added cable products appears to be the primary driver behind the margin expansion, as higher-value HT cables and MVCC also gained share, rising from 2.07% to 7.11%.

Order Book and Capacity Expansion

Susan Electricals highlighted strong near-term visibility with an unexecuted order book of approximately ₹142.39 crore as of June 30, 2026. A significant portion of this backlog is expected to be executed within the next three months. Additionally, the active order pipeline stands at roughly ₹150 crore, bringing total order visibility to ₹292 crore.

To meet rising demand, the company is proceeding with capacity expansion plans aimed at commercial operations by February 2027. The project, estimated at ₹1,080.96 lakh, will add 4,500 km per annum of capacity, increasing installed capacity from 7,500 km to 12,000 km per annum. This represents a 60% increase in production capability, funded largely through net proceeds from the recent offer and internal accruals.

Susan Electricals shareholders approved the company's employee stock option plan and a new board appointment during an Extra-Ordinary General Meeting (EGM) held on September 3, 2026. The resolutions passed with unanimous support from all voting shareholders.

The meeting, conducted via video conferencing, saw 15,803,275 shares voted in favor of all three special resolutions, representing 77.73% of the total outstanding shares of 20,330,795. There were zero votes against any resolution and no invalid votes recorded.

Key Resolutions Passed

Members voted to approve the Susan Electricals India Limited-Employees Stock Option Plan, 2026. Under this framework, the company is authorized to create and grant up to 204,000 Employee Stock Options. Each option is exercisable into one fully paid-up equity share with a face value of ₹10.

Additionally, shareholders approved extending the benefits of the ESOP scheme to employees of the holding company, subsidiaries, associates, and group companies. This extension covers both existing and future entities within the corporate structure.

The third resolution appointed Mr. Charan Singh as an Additional Director. He assumes the role of Non-Executive and Non-Independent Director on the board.

Voting Breakdown

Voting participation varied across shareholder categories. Promoters and the promoter group held 13,615,535 shares and voted 100% of their holdings. Public institutions held 800,880 shares, with 85,000 votes polled (10.61% participation). Public non-institutions held 5,914,380 shares, casting 2,102,740 votes (35.55% participation).

Meeting Proceedings

Mr. Vishal Jain, Managing Director and Chairman, chaired the proceedings. He highlighted the company's recent listing on the BSE SME Platform on June 18, 2026, as a significant milestone preceding this shareholder engagement. The meeting commenced at 3:00 pm and concluded at 3:35 pm.

Mrs. Reshma Shukla, Company Secretary and Compliance Officer, conducted the meeting in compliance with Ministry of Corporate Affairs circulars. The quorum was present, allowing for the transaction of business as per the Companies Act, 2013.

Voting was conducted through remote e-voting via NSDL from August 31, 2026, to September 2, 2026. Members attending the virtual meeting who had not voted remotely were permitted to cast their votes electronically during the session. The votes were scrutinized by Mr. Deepak Chauhan, appointed as the Scrutinizer.