Osel Devices Limited stands as a specialized manufacturer in the technology-driven sectors of LED display systems and hearing aids, having established its presence in the Indian market since its incorporation in 2006. Originally incorporated as Innovative Infratech Solutions Private Limited on August 14, 2006, the company underwent a strategic transformation from a trading entity to a full-scale manufacturing operation in 2019. The company currently commands a market capitalization of ₹573 crores as of July 2025, reflecting its significant growth trajectory in the specialized manufacturing sector.
The company operates through two primary business divisions that cater to distinct market segments. LED display systems constituted approximately 70% of FY23 revenue, serving commercial applications including advertising media, billboards, corporate boardrooms, presentations, display promotions, command centers, and front signs. In FY 2024, the revenue composition showed LED display systems contributing approximately 36% while hearing aids represented 64% of total revenue, indicating a strategic shift in business focus towards the healthcare segment.
Osel's state-of-the-art manufacturing facility in Greater Noida, inaugurated by former Union Minister Shri Pratap Sarangi, boasts impressive production capabilities with an annual capacity of 15,000 square feet of LED displays and 4,00,000 units of hearing aids. This strategic location provides the company with excellent connectivity to major markets while maintaining cost-effective operations.
The LED display systems manufactured by Osel represent cutting-edge technology in digital signage solutions. These systems feature integrated content management systems that enable users to seamlessly connect via phone or computer to manage and display content on screens. The company's LED offerings span both indoor and outdoor applications, with outdoor systems specifically engineered to withstand various environmental conditions while delivering crisp, brilliant visuals for advertising and information display purposes.
In the healthcare segment, Osel manufactures a comprehensive range of hearing aids designed to assist individuals with hearing impairments. The company produces both digital programmable and non-programmable hearing aids, with particular expertise in Behind-The-Ear (BTE) models that cater to individuals with mild to profound hearing loss. The Artificial Limbs Manufacturing Corporation of India serves as a major customer for the company's hearing aid products, establishing Osel as a trusted supplier in the government healthcare ecosystem.
Osel Devices has demonstrated remarkable financial growth, with revenue increasing by 62% and profit after tax rising by an impressive 180% between FY 2023 and FY 2024. The company reported revenue of ₹132.69 crores in FY 2024 compared to ₹81.96 crores in FY 2023, showcasing robust business expansion across both product segments.
The profitability metrics reveal strong operational efficiency improvements. Net profit surged from ₹4.66 crores in FY 2023 to ₹13.05 crores in FY 2024, reflecting enhanced cost management and operational leverage. Total assets have grown significantly from ₹3,312.17 lakhs in FY 2022 to ₹9,864.2 lakhs in FY 2024, representing approximately 197.8% growth over two years, indicating substantial expansion in operational capabilities.
Key Financial Metrics:
- Revenue (FY 2024): ₹132.69 crores
- Net Profit (FY 2024): ₹13.05 crores
- Total Assets (FY 2024): ₹98.64 crores (Note: ₹9864.2 lakhs is ₹98.64 crores)
- P/E Ratio: 22.20
- P/B Ratio: 17.57
- Employee Strength: 68 (as of March 31, 2024)
The company has recently strengthened its market position through strategic partnerships, including a significant distributor agreement with Frye Electronics for Hearing Aid Analyzer products in India and the Asia Pacific region, announced in June 2025. This partnership positions Osel to expand its reach in the hearing aid accessories market while leveraging established distribution networks.
In May 2025, Osel commenced commercial operations of Philips Mobile Phones in India, indicating the company's diversification strategy into consumer electronics while maintaining its core focus on LED displays and hearing aids. This strategic move demonstrates management's vision to leverage its manufacturing capabilities across multiple technology sectors.
The company holds a Certification Marks Licence issued by the Bureau of Indian Standards to use the 'Standard Mark' for "Behind the Ear (BTE) Hearing Aids – Digital" and "Visual display unit", reinforcing its commitment to quality standards and regulatory compliance in both business segments.
Osel Devices successfully completed its Initial Public Offering from September 16-19, 2024, raising ₹70.66 crores through a fresh issue of 44.16 lakh shares at a price band of ₹155-160 per share. The shares were listed on NSE SME on September 24, 2024. The stock listed at ₹198.05, delivering a premium of 23.78% over the IPO price, reflecting strong investor confidence in the company's business model and growth prospects.
Current shareholding structure shows promoter holding at 71.53% as of March 2025, down from 98.50% as of June 2024, indicating the dilution resulting from the public issue while maintaining strong promoter commitment to the business.
The company has demonstrated strong market performance since listing, with a 52-week high of ₹344.00 and a 52-week low of ₹169.60, showcasing the stock's volatility and growth potential in the specialized technology manufacturing sector.
