alfa transformers has secured a significant order worth Rs 63 Crores from Madhya Gujarat Vij Company Ltd for the supply of distribution transformers. The Letter of Award, dated May 27, 2026, covers the supply of 12,000 units of 11 KV / 0.433 KV 3 Phase 10 KVA (Aluminium Wound) CRGO/Amorphous Transformers under the CPP Tender for the year 2026-27. This domestic order is expected to be executed during the financial year 2026-27, marking a key development in the company's order book for the period.

The order was awarded following a tender process, with the Master Letter of Acceptance specifying that the supply includes an IEEMA Price Variation Clause. The base date for price variation is set as November 1, 2025. The total allocated quantity of 12,000 transformers is distributed among various DISCOMs, with Paschim Gujarat Vij Company Limited (PGVCL) accounting for the largest share at 8,418 units, followed by Uttar Gujarat Vij Company Limited (UGVCL) with 1,894 units.

Order Allocation and Financials

The financial details of the order indicate a unit end cost of Rs 52,504.10, inclusive of GST at 18%. The total contract value aggregates to Rs 63 Crores. The company is required to pay a Performance Guarantee equivalent to 3% of the total contract value to ensure satisfactory execution. The guarantee must be submitted to the respective DISCOMs within 15 days from the date of the individual Letter of Acceptance to avoid cancellation of the order.

Delivery and Execution Terms

The delivery schedule mandates that the total allocated quantity be completed within seven months in equal monthly lots, following a commencement period of 45 days from the receipt of the respective DISCOMs' LOA. The nodal DISCOM, identified as Dakshin Gujarat Vij Company Limited (DGVCL), will oversee the approval of pending type tests, BIS licenses, and other technical requirements on behalf of all DISCOMs involved.

The company has also consented to the repair of failed distribution transformers as per the tender terms. Individual LOAs will be issued by the respective DISCOMs, and the supplier must execute an agreement within 20 days from the date of these acceptances. The order is not a related party transaction, and the promoter group has no interest in the entity awarding the contract.

Alfa Transformers reported a net loss of ₹159.14 lakh for the financial year ended March 31, 2026, compared to a net profit of ₹100.88 lakh in the previous year. The company's total income from operations for FY26 stood at ₹3274.23 lakh, a decrease from ₹5078.41 lakh in FY25. For the quarter ended March 31, 2026, the company recorded a net loss of ₹104.85 lakh on a total income of ₹1023.02 lakh. The audited financial results were reviewed by the Audit Committee and approved by the Board of Directors at a meeting held on May 30, 2026.

The Board appointed M/s. Goutam & Co as the new Statutory Auditors for a period of five years, starting from the conclusion of the 44th Annual General Meeting (AGM) until the conclusion of the 49th AGM. This appointment follows the mandatory rotation of auditors under Section 139 of the Companies Act, 2013, as M/s. PAMS & Associates completed their maximum permitted term. M/s. Goutam & Co, who previously served as Internal Auditors for FY 2025-26, resigned from that role on May 26, 2026, prior to this elevation.

The company appointed M/s. PBM & Associates as Internal Auditors for a two-year term from the conclusion of the 44th AGM to the conclusion of the 46th AGM. Additionally, M/s. Saroj Ray & Associates were re-appointed as Secretarial Auditors for FY2026-27. These appointments are subject to shareholder approval.

Director Re-appointments

The Board approved the re-appointment of Mr. Dillip Kumar Das as Managing Director for one year, effective from July 19, 2026, to July 18, 2027. Mr. Debasis Das was re-appointed as Whole Time Director for two years, effective from March 31, 2026, to March 30, 2028. Both appointments are subject to shareholder approval.

Mr. Rashmi Ranjan Sathapathy and Mr. Prem Sagar Mishra were re-appointed as Independent Directors for a second term of two years, commencing from July 30, 2026, to July 29, 2027. The Board also decided to implement the FIFO method for stock valuation in place of the Weighted Average method.

Key Appointments and Terms