Dhoot Transmission IPO: A market leader with margin pressures

Dhoot Transmission's IPO opens August 10th and the headline numbers look strong on the surface. Revenue has grown at 27% annually to Rs 4,525 crore in FY26, and the company controls 41% of India's two- and three-wheeler wiring harness market. In the EV segment, that share jumps to nearly 70%. But the stock market story gets complicated fast. EBITDA margins have slipped from 18.31% to 15.71% over three years, and return on equity has more than halved. This episode breaks down what's compressing inside the business before the Indian stock market gets to price it. Get the full market picture on askfuzz.ai.