WONDER ELECTRICALSWONDER ELECTRICALS LTDNSE:WELTechnicalAnalystSucritWonder Electricals Ltd. (currently trading at ₹161) is a leading OEM and ODM manufacturer of ceiling fans, exhaust fans, pedestal fans, and BLDC fans. Formerly known as Wonder Fibromats Ltd., the company supplies to over 10 top brands in India and exports to the Gulf and neighboring countries. Wonder Electricals Ltd. – FY22–FY25 Snapshot Sales – ₹814 Cr → ₹1,165 Cr → ₹2,312 Cr → ₹3,120 Cr Rapid growth driven by OEM orders, BLDC adoption, and export traction Net Profit – ₹39 Cr → ₹73 Cr → ₹129 Cr → ₹184 Cr Margin expansion through scale, automation, and product mix Operating Performance – Moderate → Strong → Strong → Strong Efficiency gains from backward integration and robotic assembly Dividend Yield (%) – 0.00% → 0.00% → 0.95% → 1.30% Payouts initiated post profitability surge Equity Capital – ₹13.80 Cr (constant) Lean capital structure with no dilution Total Debt – ₹85 Cr → ₹82 Cr → ₹78 Cr → ₹74 Cr Gradual deleveraging supported by internal accruals Fixed Assets – ₹110 Cr → ₹115 Cr → ₹120 Cr → ₹126 Cr Capex focused on automation, BLDC lines, and export readiness Institutional Interest & Ownership Trends Promoter holding stands at 72.15%, indicating strong strategic control. FII and DII interest remains limited due to SME profile, but HNI and PMS desks have increased exposure post breakout and margin visibility. Delivery volumes reflect quiet accumulation aligned with consumer durables and energy-efficient appliance themes. Business Growth Verdict Wonder Electricals is scaling rapidly across fan categories and geographies Margins supported by automation and BLDC product mix Debt is declining steadily with strong operating cash flows Capex remains focused and supports long-term manufacturing depth Management Con Call Management emphasized strong demand for BLDC fans and OEM orders from Tier-1 brands. New export markets in the Gulf and Africa are contributing to topline growth. Focus remains on expanding robotic paint shops, automated winding, and conveyorized assembly lines. FY26 outlook includes 20–25% revenue growth and margin stability, with backward integration and energy-efficient product launches driving operating leverage. Final Investment Verdict Wonder Electricals Ltd. offers a high-growth consumer durables story built on manufacturing depth, automation, and OEM relationships. Its improving profitability, disciplined capital structure, and export traction make it suitable for accumulation by investors seeking exposure to energy-efficient appliances and scalable industrial platforms. With strong promoter backing and operational momentum, the company is positioned for durable compounding.