A strong order book can give small-cap companies revenue visibility and a growth runway, especially when the backlog is significantly larger than recent sales. In this list, several small-cap stocks have order books multiple times their TTM sales, highlighting the scale of projects awaiting execution and the importance of monitoring execution capabilities.
Power Mech Projects Ltd
Power Mech Projects Ltd is an infrastructure construction company with operations across power and infrastructure sectors in India and overseas. Its business spans power plant construction, erection, testing and commissioning, operations and maintenance, civil engineering, transmission and distribution, railways, water and mining. The company also undertakes industrial construction and international projects across multiple geographies.
Power Mech Projects has a strong order book of around Rs. 55,398 crore against TTM sales of Rs. 6,392 crore, representing an order-book-to-sales ratio of 8.67x (867%). This substantial order pipeline provides significant revenue visibility and supports the company’s growth prospects across its infrastructure and power project portfolio.
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Genus Power Infrastructures Ltd
Genus Power Infrastructures Ltd is a power-sector technology and infrastructure company specialising in electricity metering solutions and smart-metering systems. Its portfolio includes smart meters, prepaid meters, AMI, MDAS and related solutions, while its engineering division undertakes turnkey power projects such as substations, transmission and distribution lines and network refurbishment.
Genus Power Infrastructures has a strong order book of around Rs. 24,020 crore against TTM sales of Rs. 5,173 crore, representing an order-book-to-sales ratio of 4.64x (464%). This substantial order pipeline provides significant revenue visibility and supports the company’s growth prospects across its smart metering and power infrastructure businesses.
Bondada Engineering Ltd
Bondada Engineering Ltd is an infrastructure and engineering company providing EPC and operations and maintenance solutions across telecom, renewable energy, railways and other infrastructure segments. The company has expanded into solar EPC, transmission and distribution, data centres, fabrication structures, BESS and other engineering businesses, with a focus on end-to-end project execution.
Bondada Engineering Ltd has an order book of around Rs. 7,147.5 crore against TTM sales of Rs. 2,977 crore, representing an order-book-to-sales ratio of 2.40x (240%). This strong order pipeline provides revenue visibility and supports the company’s growth prospects across its telecom, infrastructure, and engineering businesses.
Techno Electric & Engineering Ltd
Techno Electric & Engineering Company Ltd is a power-infrastructure company with a presence across generation, transmission and distribution. Its operations include engineering, procurement and construction, asset ownership, operations and maintenance services, and power infrastructure development. The company has executed many projects in India and overseas and has participated in major transmission and substation projects.
Techno Electric & Engineering Ltd has an order book of around Rs. 11,000 crore against TTM sales of Rs. 3,380 crore, representing an order-book-to-sales ratio of 3.25x (325%). This strong order pipeline provides significant revenue visibility and supports the company’s growth prospects across its power infrastructure and engineering businesses.
Avalon Technologies Ltd
Avalon Technologies Ltd is a globally integrated Electronics Manufacturing Services (EMS) provider headquartered in Chennai. The company offers design, engineering, PCB assembly, system integration, cable and wire harnesses, sheet metal, machining, plastics and other manufacturing services. It serves high-reliability and high-mix industries including power, clean energy, mobility, aerospace, telecom and industrial markets.
Avalon Technologies has an order book of around Rs. 2,208 crore against TTM sales of Rs. 1,764 crore, representing an order-book-to-sales ratio of 1.25x (125%). This order pipeline provides revenue visibility and supports the company’s growth prospects across its electronics manufacturing and integrated engineering solutions businesses.
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Transformers & Rectifiers India Ltd
Transformers & Rectifiers India Ltd is an Indian manufacturer of power and distribution transformers, serving utilities, industrial customers and renewable energy projects. The company offers transformers across various voltage classes and capacities, supporting electricity transmission and distribution infrastructure.
Transformers & Rectifiers India Ltd has an order book of around Rs. 6,630 crore against TTM sales of Rs. 2,552 crore, representing an order-book-to-sales ratio of 2.60x (260%). This strong order pipeline provides significant revenue visibility and supports the company’s growth prospects across its transformer manufacturing and power infrastructure businesses.