Om Power bags ₹82 cr underground cabling order from Gujarat discom
The turnkey contract is approximately 18% of FY26 revenue, pushing order book to a record ₹621 cr and extending visibility into FY28.
— 1 earlier story on Om Power Transmission Ltd. →What's new
- Om Power wins ₹82.17 cr turnkey contract for underground cabling in Bhavnagar.
- Order book swells to a record ~₹621 cr, providing revenue visibility into FY28.
- The binding LOA adds ~18% to FY26 revenue of ₹449 cr.
Why this matters
At ₹82.17 cr, this single order is 18% of last year’s revenue—a material surprise for a micro-cap. The record order book of ₹621 cr gives management’s growth guidance concrete backing and removes near-term execution risk.
What we're watching
- Execution pace: 18-month timeline with a 45-day preparatory period.
- Further order wins in the transmission and distribution space.
- Q4 FY26 results to confirm revenue recognition from the new book.
The full read
Om Power has landed a ₹82.17 cr turnkey contract from Paschim Gujarat Vij Company to convert an overhead network to underground cabling in Bhavnagar. That is 18% of last year's revenue, a material win for a ₹625 cr market-cap company. The order is binding. It pushes the already-record backlog to ~₹621 cr, giving management's growth guidance hard evidence. Execution runs 18 months after a 45-day preparatory phase. The stock trades at 15.6x trailing earnings with 30.4% ROE and low debt. For a micro-cap, this order removes the biggest risk: near-term revenue uncertainty.
Questions answered
- How does this order compare to Om Power’s typical contract sizes?
- At ₹82.17 cr, it is roughly 18% of FY26 revenue and well above the ₹15 cr materiality threshold for micro-caps, making it one of the larger standalone orders the company has received.
- Is this order binding or just a letter of intent?
- It is a binding Letter of Acceptance (LOA), not a non-binding LOI, so the contract is awarded and execution should begin after the 45-day preparatory period.
- What is the execution timeline and scope?
- The turnkey contract involves converting an 11 kV overhead network to an underground cable network with a ring main system at Kaliabid Subdivision, Bhavnagar. It must be completed within 18 months of the preparatory phase.
- How does this affect Om Power’s order book and revenue visibility?
- The order adds to the record order book of ~₹621 cr, extending revenue visibility well into FY28 and supporting management’s guidance for continued strong revenue growth.
Story so far
All notes on OMPOWER →- 9 Jul 2026 · 11:17 AM IST Om Power bags ₹82 cr underground cabling order from Gujarat discom
- 45d ago Om Power's Q4 earnings call transcript is a compliance filing, not news.