- Dhoot Transmission has spent about 10 billion rupees on capital expenditure over the past four to five years.
- The company's non-harness portfolio rose to 23% of revenue currently from about 18% in fiscal 2024.
- CFO Nitin Kalani stated that electrification will be the biggest growth driver ahead of the company's $322.21 million IPO.
- Dhoot Transmission expects India's shift to electric vehicles to drive growth as it expands its product portfolio and ties with automakers.
- Dhoot Transmission expects to benefit from the greater wiring-harness content in EVs compared with internal combustion engine vehicles, and is building an EV-focused product portfolio including battery assemblies, onboard chargers, DC-DC converters and charging guns.
- CFO Kalani mentioned that despite the investment, annual margins should remain sustainable at 15%-16%.
Dhoot Transmission, based in Chhatrapati Sambhajinagar, is poised to capitalize on India's transition to electric vehicles (EVs) as it prepares for a $322.21 million IPO. The company, which specializes in wiring harnesses for automotive and industrial applications, is expanding its product offerings to include battery assemblies, onboard chargers, DC-DC converters, and charging guns.34
CFO Nitin Kalani emphasized that electrification will be the biggest growth driver for the company, with premiumization closely following. He noted that Dhoot expects to benefit from the increased wiring-harness content in EVs compared to internal combustion engine vehicles. Currently, Dhoot's non-harness portfolio has grown to 23% of revenue, up from 18% in fiscal 2024.256
The IPO, which includes a sale of fresh shares worth 14 billion rupees, is set to open on August 10 and close on August 12, with trading expected to commence on August 17. Dhoot has invested approximately 10 billion rupees in capital expenditures over the past four to five years and plans to maintain similar investments to support growth and capacity expansion. Despite these investments, Kalani stated that annual margins should remain sustainable at 15%-16%, consistent with current levels.17
“The company's non-harness portfolio rose to 23% of revenue from 18% in fiscal 2024, reflecting the EV shift. Dhoot has spent about 10 billion rupees on capex over four to five years and expects similar investment, with margins sustainable at 15%-16%.”
