Dhoot Transmission - IPO Report

Dhoot Transmission Ltd. (DTL) is a leading electrical and electronics company focused on designing, engineering and manufacturing wiring harnesses and electrical distribution systems for ICE and EV platforms. Its portfolio includes wiring harnesses, battery packs, switches, sensors, controllers, connectors, high-voltage interconnection systems and data cables, serving automotive and non-automotive applications.

DTL is among the top two players in India's 2W and 3W wiring harness market, with a 41% market share in FY26, while commanding nearly 70% share in electric 2W/3W wiring harnesses. With 95% of its auto portfolio being either EV-focused or powertrain-neutral, the company is well positioned to benefit from the transition toward electrification.

The company is benefiting from rising kit value per vehicle, driven by greater adoption of high-voltage cables, battery interconnects, power-electronics interfaces and advanced sensor/data links. Its focus on premium 2W models further supports higher content per vehicle, with the 150cc+ ICE motorcycle segment expected to grow faster than the overall ICE motorcycle market through FY31.

DTL has diversified beyond 2W/3W into commercial vehicles, off-highway vehicles, farming and industrial equipment. As of March 2026, it operated 23 manufacturing facilities, three engineering/design centres and seven warehouses, with further manufacturing capacity being added to support growth.