JD Cables Ltd | SME IPO | Shariah Status

Understanding Shariah Compliance in IPOs and Stocks:

Investing wisely is essential for both financial growth and ethical alignment. For those interested in making investments that comply with Islamic law, understanding the Shariah status of Initial Public Offerings (IPOs) and stocks is crucial. This article aims to provide insights into the Shariah compliance of JD Cables Ltd, ensuring that your investment choices are not only profitable but also ethical.

Analyzing The Company

Company Name: JD Cables Ltd
Industry: Industrial Products
Listing At: BSE SME

Overview:

JD Cables Limited: Powering Progress with Quality and Innovation

JD Cables Limited, incorporated in 2015, is a premier manufacturer of a wide range of wires, cables, and conductors. The company is committed to delivering high-quality, durable, and reliable electrical solutions for the power transmission and distribution sector. With a strong focus on excellence, JD Cables aims to be a leading player in the industry, consistently providing innovative and reliable products.

The company operates two state-of-the-art manufacturing facilities in West Bengal, strategically located at Belgachia, Howrah, and Chakundi, Hooghly. These facilities are equipped with modern infrastructure, cutting-edge machinery, and well-equipped test laboratories. This ensures the production of superior-quality products that meet stringent safety and performance standards. JD Cables is an ISO-certified company, and all its products undergo multi-level quality checks to maintain high standards. This rigorous quality assurance process guarantees that the products are rigorously tested and reliable.

Product Portfolio

JD Cables offers a comprehensive portfolio of products designed to meet diverse industrial and infrastructural needs. Their product range includes:

LT AB Cables (Low Tension Aerial Bunched Cables): These are used for overhead power distribution and are known for their safety and ease of installation.
LT XLPE Power Cables: These cables, insulated with cross-linked polyethylene, are ideal for efficient power transmission and are highly resistant to moisture and chemicals.
LT PVC Power and Control Cables: These are versatile cables used for various power and control applications.
Bare and Insulated Copper Conductors: These are essential components for electrical wiring and grounding.
Single-core Service Wires
All Aluminium Conductor (AAC)
All Aluminium Alloy Conductor (AAAC)
Aluminium Conductor Steel Reinforced (ACSR)

The company’s products are engineered for performance, durability, and safety, catering to a wide range of needs.

Market Presence and Vendor Approvals

JD Cables Limited has a wide supply network that extends across multiple states in India. It is an approved vendor for various State Electricity Boards, which speaks to the quality and reliability of its products. The company proudly supplies its solutions across Assam, Odisha, Jharkhand, Bihar, Manipur, Tripura, Arunachal Pradesh, and West Bengal. This strong regional presence highlights its trusted position in the market.

Our Core Strengths

JD Cables Limited is backed by a skilled and experienced workforce dedicated to innovation, precision, and reliability. The company’s key strengths include:

Superior Quality & Durability: Products are manufactured using premium materials and cutting-edge technology, ensuring long-lasting performance.
Wide Range of Products: From power cables to conductors, the company offers an extensive range to meet diverse industrial and commercial needs.
Certified & Compliant: All products meet international safety and performance standards, guaranteeing efficiency and peace of mind for customers.
Exceptional Customer Support: The company’s expert team is always ready to provide technical guidance, custom solutions, and prompt after-sales support.

With a vision to “Power Progress with Quality & Innovation,” JD Cables Limited is dedicated to building strong connections and delivering superior electrical solutions for a more connected and electrified future. The company’s commitment to excellence and its trusted products make it a reliable partner for all cable and conductor needs.

Shariah Status

The IPO is Non-Shariah Compliant, please see below image.

IPO Timeline (Tentative Schedule)

IPO Open Date: Monday, September 18, 2025
IPO Close Date: Wednesday, September 22, 2025
Tentative Allotment: Thursday, September 23, 2025
Initiation of Refunds: Monday, September 24, 2025
Credit of Shares to Demat: Monday, September 24, 2025
Tentative Listing Date: Tuesday, September 25, 2025
Cut-off time for UPI mandate confirmation: 5 PM on September 22, 2025

Lot Size

Application Category	Type	Lots	Shares	Amount
Individual investors (Retail)	Min	2	1,600	₹2,43,200
Individual investors (Retail)	Max	2	1,600	₹2,43,200
S-HNI	Min	3	2,400	₹3,64,800
S-HNI	Max	8	6,400	₹9,72,800
B-HNI	Min	9	7,200	₹10,94,400

Financials

Based on the financial data, JD Cables Ltd. has shown significant growth.
Comparing the financial year ending March 31, 2025, to the previous year (March 31, 2024), the company’s Total Income increased by 149% to ₹250.70 crore. Profit After Tax (PAT) saw a remarkable rise of 384% to ₹22.15 crore. Both EBITDA and Assets also experienced substantial growth. However, along with this expansion, Total Borrowing also increased to ₹45.91 crore, though the company’s Net Worth and Reserves and Surplus also grew considerably, indicating a stronger financial position.

KPI

KPI	Value
ROE	117.17%
ROCE	43.64%
Debt/Equity	1.53
RoNW	73.89%
PAT Margin	8.84%
EBITDA Margin	13.62%
Price to Book Value	8.39

SEBI Disclaimer

Investing in IPOs involves risks. Please read the offer document carefully before investing. This article is for informational purposes only and does not constitute financial advice. Investors should consult their financial advisors before making any investment decisions.

JD Cables Ltd | SME IPO | Shariah Status | Overview

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