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Broker flags India Nippon Electricals' transformation play
A broker initiates Buy on India Nippon Electricals, citing its shift from ignition systems to mobility electronics and aftermarket revenue growth to ₹117 crore in FY26.
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A broker initiated coverage on India Nippon Electricals with a Buy rating, pointing to the company's shift from a traditional ignition systems supplier into a mobility electronics firm. The note highlighted expansion into EFI ECUs, sensors, ISG systems, motor controllers, and display clusters.
The aftermarket business contributed ₹117 crore in FY26, or 11% of revenue, up from ₹38 crore (8%) in FY21, reflecting growing brand strength and distribution reach, the broker said. INEL retained its No. 1 position in the Flywheel Magneto segment and gained market share across key OEM platforms, premium motorcycles, and electronic components.