Laser Power & Infra

Laser Power & Infra Ltd. has established itself as a key player in India's energy infrastructure sector. The company focuses on the manufacturing of power and control cables, speciality products, and conductors, catering to the critical needs of power transmission and distribution. Beyond manufacturing, it has strategically diversified into the Engineering, Procurement, and Construction (EPC) segment, focusing on rural electrification and the installation of substations.

The company's operational footprint is extensive, operating across 26 Indian states and four union territories, with a strong presence in West Bengal, Bihar, Jharkhand, Odisha, Assam, and Madhya Pradesh. Its reach extends beyond domestic borders, exporting products and services to 10 different countries, highlighting its global competitiveness.

The business model integrates manufacturing excellence with project execution capabilities, allowing the firm to offer turnkey solutions for power distribution infrastructure. This dual approach enables the company to capture value across the entire lifecycle of power infrastructure development, from component supply to final installation.

The company is led by its promoters: Deepak Goel, Devesh Goel, Akshat Goel, and Rakhi Goel. Under their leadership, the company has scaled its operations significantly, transitioning from a pure manufacturer to a comprehensive infra-solutions provider in the power sector.

The Laser Power & Infra IPO is a mainboard issue seeking to raise approximately ₹742 crore. The structure consists of a fresh issue of ₹542 crore and an offer for sale (OFS) of ₹200 crore. The price band is set between ₹203 and ₹214 per share, with a minimum retail lot size of 70 shares amounting to ₹14,980. The issue is scheduled to open on July 9, 2026, and close on July 13, 2026, with listing on the BSE and NSE on July 16, 2026.

Proceeds from the fresh issue are primarily earmarked for the pre-payment or re-payment of certain outstanding borrowings, totaling ₹490 crore. This suggests a strategic move to deleverage the balance sheet and reduce interest costs to improve future net margins.

Financially, the company has shown impressive bottom-line growth. While revenue saw a slight dip from ₹2,592.53 crore in 2025 to ₹2,347.89 crore in 2026, the Profit After Tax (PAT) grew significantly from ₹106.75 crore in 2025 to ₹151.59 crore in 2026. This indicates improved operational efficiency and better margin management despite the revenue contraction.

From a valuation perspective, the company reports a basic EPS of ₹13.18 for FY2026. While the specific IPO P/E is not provided, peers like Apar Industries and Polycab trade at significantly higher multiples (56x-67x), suggesting a potential valuation gap that could attract investors. However, a debt-to-equity ratio of 1.10 remains a point of caution.

Key strengths include strong ROE (23.32%) and a diversified geographic presence. Risks include the inherent volatility of the EPC sector and the reliance on government-led rural electrification projects. Overall, the issue presents a balanced profile of high growth and moderate leverage, making it an interesting prospect for long-term investors.