Kanohar Electricals IPO: India’s power boom meets a 70% ROCE story

Kanohar Electricals is hitting the stock market with a Rs 1,056 crore IPO, and the numbers look almost too good. Revenue nearly doubled in two years, margins more than doubled, and return on capital sits at a remarkable 70%. But one number cuts through all of that: 93% of revenue comes from just 10 customers. This episode breaks down what Kanohar actually makes, how its backward integration sets it apart in the Indian stock market, and why that customer concentration is the single biggest question retail investors need to answer before bidding between 8 and 10 September 2026. Get the full market picture on askfuzz.ai.