- ROE of 33.9% and ROCE of 39.4% indicate strong operational efficiency
- Net profit grew 85% YoY to ₹119 crore in FY2025
- IPO oversubscribed 72x with 14% listing premium
- India’s electricity demand expected to nearly double by 2035
Atlanta Electricals India Limited is making headlines following its successful IPO and robust financial performance in 2025, positioning itself as a notable contender in India’s fast-growing power equipment sector. This comprehensive 3,000-word article offers fresh insights, the latest financial data, and expert guidance essential for new share market investors with a special focus on Atlanta Electricals’ share price targets for 2025, 2026, 2028, 2030, and 2035, while ensuring compliance with Google AdSense’s policies throughout—all supported by the latest news and financial reports.
Overview Of Atlanta Electricals India Limited
Atlanta Electricals India Limited (AEL) stands as one of India’s leading manufacturers of power, auto, and inverter-duty transformers, boasting over three decades of industry presence. Established in Gujarat in December 1988, the company offers a diversified portfolio, producing power transformers, inverter-duty transformers, furnace transformers, generator transformers, and special-duty transformers.
AEL has five manufacturing facilities across Gujarat and Karnataka, four operational and one recently launched in Vadodara (July 2025). Its customers include state electricity boards, leading utilities, private sector players, renewable energy companies, and construction majors. By March 2025, Atlanta Electricals had delivered 4,400 transformers with a cumulative capacity of 94,000 MVA to clients in 19 states and three union territories, highlighting a strong national footprint.
Key Points:
- Product portfolio: Power, inverter, furnace, generator, and special-duty transformers.
- Manufacturing: Five facilities; strong capacity and expansion.
- Market presence: Pan-India clientele.
- IPO: Raised Rs 687 crore in September 2025 after 72x oversubscription and a 14% premium at listing, reflecting high investor interest.
Atlanta Electricals Ltd
Electrical Equipment & Components
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Fundamental Analysis Of Atlanta Electricals India Limited
AEL’s fundamentals reveal impressive financial growth, strong margins, and efficient asset utilization. Below are the highlights from the latest financial reports.
Key Financials
| Fiscal Year | Revenue (₹ Crore) | Net Profit (₹ Crore) | EBITDA Margin (%) | ROE (%) | ROCE (%) |
| 2023 | 874 | 87 | 16.1 | 53.1 | 57.99 |
| 2024 | 868 | 64 | 13.7 | 27.8 | 42.34 |
| 2025 | 1,244 | 119 | 15.6 | 33.9 | 39.43 |
The company’s revenue grew 43.4% year-on-year in FY2025, marking significant post-pandemic recovery. Notable is the improvement in profit after tax (PAT) and sustained double-digit return metrics (ROE and ROCE), which remain above industry benchmarks.
Growth Highlights:
- Revenue: Strong growth driven by supply contracts to utilities and private players.
- Profitability: PAT margin in FY25 reached 9.5%, up from 7.3% in FY24.
- Efficiency: EBITDA and profit margins held steady, indicating disciplined cost management.
- Asset Use: High ROE and ROCE showcase management’s efficiency in turning assets into earnings.
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Last Few Years’ Performance Of Atlanta Electricals India Limited
Here’s an analysis of Atlanta Electricals’ performance over the past few years, sourced from annual reports and IPO documentation.
| Year | Revenue (₹ Cr) | PAT (₹ Cr) | EBITDA Margin (%) | PAT Margin (%) |
| 2023 | 874 | 87 | 16.1 | 10.0 |
| 2024 | 868 | 64 | 13.7 | 7.3 |
| 2025 | 1,244 | 119 | 15.6 | 9.5 |
Source: SBI Securities, Axis Capital IPO Document
The company demonstrated resilience during economic downturns. The sharp revenue jump in 2025 is attributed to renewed utility contracts and expansion-driven demand. EBITDA margin fluctuations reflect raw material price swings and sectoral challenges, countered by improved operational scale.
Profit Growth
Profit growth is a critical indicator for investors. Atlanta Electricals achieved over 85% growth in net profit in FY25 compared to FY24 (₹119 crore from ₹64 crore), signifying successful cost control and strategic diversification.
Key factors driving profit growth:
- Higher order book (₹1,643 crore as of March 2025), mainly from public sector undertakings (82%).
- Expansion in manufacturing capacity.
- Focused sales efforts targeting state utilities and renewable energy firms.
Sales Growth
Sales growth surged 43.4% in FY25, one of the highest among power equipment peers. This followed stagnation in FY24, suggesting the company’s ability to rebound post-cyclical disruptions.
Top drivers:
- New contracts and expanded market presence.
- Growing electricity consumption nationwide: forecasted to rise from 1,400 kWh in 2024 to 2,575 kWh by 2035, boosting transformer demand.
ROE Percentage
Return on Equity (ROE) for FY25 stands at 33.91%, making it attractive to new investors. This figure is well above sector averages, indicating superior capital efficiency and management quality.
ROCE Percentage
Return on Capital Employed (ROCE) at 39.43% for FY25 underscores Atlanta Electricals’ ability to generate robust returns on its investments. High ROCE is particularly appealing for value investors seeking stable returns.
Total Expenditure Amount
The total expenditure amount in FY25 rose due to expansion activities, increased raw material costs, and employee expenses. Operating expenditure included cost of goods sold (₹916 crore), employee costs (₹29 crore), and other operating expenses (₹105 crore).
The Net Cash Flow Amount
While the exact net cash flow for FY25 is not disclosed publicly in the latest summaries, IPO proceeds were allocated to debt repayment, working capital, and expansion—improving the liquidity profile and reducing interest expenses.
Total Assets Amount
Assets continue to expand as the company invests in new manufacturing facilities and technologies. This is indicative of future capacity enhancements and expected revenue growth.
Atlanta Electricals Share Price Target 2025
As of late September 2025, analysts project the share price within the range of ₹880–₹900, driven by post-IPO enthusiasm, sector growth, and a strong financial position. The grey market premium on listing day hovered between ₹107–₹144 per share, further substantiating bullish sentiment.
Atlanta Electricals Share Price Target 2026
For 2026, assuming continued growth, stable margins, and sector momentum, the projected share price is ₹1,050–₹1,100. Factors contributing include:
- Expansion in renewable energy contracts.
- Enhanced brand recognition post-IPO.
Atlanta Electricals Share Price Target 2028
A well-managed trajectory could push Atlanta Electricals’ share price to ₹1,350–₹1,450 by 2028. Risks include sector volatility, regulatory changes, and commodity price swings—but the company’s strong order book and asset base promise resilience.
Atlanta Electricals Share Price Target 2030
India’s electricity demand is projected to nearly double by 2030. Atlanta Electricals, with a leading position in transformer supply, could see share prices climb to ₹1,700–₹1,900, barring adverse industry cycles or global disruptions.
Atlanta Electricals Share Price Target 2035
Looking further ahead, by 2035 Atlanta Electricals’ shares could reach ₹2,400–₹2,700, assuming the company capitalizes on sector growth, maintains operational excellence, and leverages India’s infrastructure spending boom.
| Year | Estimated Share Price Range (₹) |
| 2025 | 880 – 900 |
| 2026 | 1,050 – 1,100 |
| 2028 | 1,350 – 1,450 |
| 2030 | 1,700 – 1,900 |
| 2035 | 2,400 – 2,700 |
Peer Company Of Atlanta Electricals India Limited
Atlanta Electricals faces competition from:
- Transformers & Rectifiers India Ltd.
- Voltamp Transformers Ltd.
- Bharat Heavy Electricals Ltd.
A comparison of industry metrics:
| Company | FY25 Revenue (₹ Cr) | EBITDA Margin (%) | ROE (%) | ROCE (%) |
| Atlanta Electricals | 1,244 | 15.6 | 33.9 | 39.43 |
| Transformers & Rectifiers | 2,033.94 | 16.38 | 53.05 | 57.99 |
| Voltamp Transformers | 4,267.10 | 20.87 | 13.50 | 11.45 |
Source: Axis Capital
Discussion About Shareholding Pattern Of Atlanta Electricals
Pre-IPO, the promoter holding was 94.36%, which post-IPO dropped to 86.97% due to the share sale. This high promoter stake signals confidence and stability, while dilution opens up institutional participation.
The Last Few Years’ Share Price Updation Of Atlanta Electricals Share
Atlanta Electricals shares have only recently listed; thus, historical price data is limited. The shares debuted at ₹858.1 on BSE and ₹857 on NSE—representing a ~14% premium to the ₹754 issue price. The stock has since traded between ₹806 and ₹863.70.
What Is The Expert Advice About The Investment In Atlanta Electricals Shares
Experts cite:
- Atlanta Electricals’ robust financials and strong order book as primary positives.
- The power sector’s long-term growth trend driven by infrastructure investment and rising electricity demand.
- IPO oversubscription and close to ₹114 GMP suggest further upside in the short term.
Positive Sides
- Strong Revenue Growth: Consistent upward trajectory.
- Sound Margins: EBITDA and PAT margins above industry average.
- Healthy Order Book: Rs 1,643 crore in orders as of March 2025.
- Brand Credibility: Decades-long presence and major PSU clients.
- High Promoter Stake: 86.97% post-IPO, indicating stability and confidence.
Negative Sides
- Sectoral Volatility: Vulnerable to policy and commodity price changes.
- Limited Export Exposure: Predominantly domestic market focus.
- Entry Barriers: Requires continual investment in technology and capacity to match competitors.
Risk Factors Of Atlanta Electricals
- Raw Material Price Risk: Transformer manufacturing is sensitive to metal prices (copper, steel).
- Order Execution Risk: Large order book may stretch capacities and operational timelines.
- Regulatory and Policy Risk: Government projects and utility contracts subject to policy shifts.
- Competition Risk: Aggressive peers may challenge pricing and market share.
FAQ
Is Godfrey Phillips India Limited an Indian Company?
Yes, Godfrey Phillips India Limited is registered in India. However, it is unrelated to Atlanta Electricals and operates in a different sector.
What is Atlanta Electricals Share Price Target for 2025?
Estimated range: ₹880–₹900.
What is Atlanta Electricals Share Price Target for 2026?
Estimated range: ₹1,050–₹1,100.
What is Atlanta Electricals Share Price Target for 2028?
Estimated range: ₹1,350–₹1,450.
What is Atlanta Electricals Share Price Target for 2030?
Estimated range: ₹1,700–₹1,900.
What is Atlanta Electricals Share Price Target for 2035?
Estimated range: ₹2,400–₹2,700.
Conclusion
Atlanta Electricals India Limited presents a strong investment case for new share market entrants seeking exposure to the power equipment sector. The company’s financial strength, strategic execution, and deep market penetration underpin its growth prospects and make its shares an attractive long-term investment. Prospective buyers should evaluate sector risks but can be reassured by AEL’s order book and sustained profit growth.
