Indo Tech Transformers approves ₹360 Cr capex to expand capacity to 50,000 MVA

Indo Tech Transformers Limited has approved an additional capital expenditure of ₹360 Crores to enhance its plant capacity to 50,000 MVA up to 400 KV range by March 2029. The Board of Directors sanctioned this proposal at a meeting held on June 26, 2026, to meet growing demand and strengthen the company's market position. The expansion will be executed over the financial years 2028-2029.

The new approval supplements earlier CAPEX sanctions of ₹75 Crores, ₹25 Crores, and ₹35 Crores, which were aimed at increasing capacity to 16,000 MVA, 20,000 MVA, and 25,000 MVA respectively. These projects are currently in progress. With the latest addition, the total investment earmarked for capacity expansion stands at ₹495 Crores.

The company’s existing manufacturing capacity stands at 14,000 MVA, with current capacity utilization ranging between 80-90%. The proposed capacity addition of 25,000 MVA will significantly scale up production capabilities. The project will be financed through a mix of internal accruals and bank borrowings, including term loans.

Capacity Expansion Details

The following table outlines the key details of the capacity expansion plan:

	Details	Information
(a)	Existing capacity	14,000 MVA
(b)	Existing capacity utilization	80-90 %
(c)	Proposed capacity addition	25,000 MVA
(d)	Period for proposed capacity addition	March 2029
(e)	Investment required	CAPEX approved on Dec 31, 2024 - ₹75 Crores CAPEX approved on Nov 13, 2025 - ₹25 Crores CAPEX approved on May 20, 2026 - ₹35 Crores CAPEX approved on June 26, 2026 - ₹360 Crores Total - ₹495 Crores
(f)	Mode of financing	Internal accruals and Bank Borrowings (Term Loan)
(g)	Rationale	Enhancement of plant capacity to 50,000 MVA upto 400 KV range of Transformers

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company is a subsidiary of Shirdi Sai Electricals Limited.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-3.25%	+10.19%	+25.53%	+139.44%	+80.36%	+1,075.37%

Indo Tech Transformers reported a 45.2% increase in net profit to ₹9,277 crore for the financial year ended March 31, 2026, driven by higher operational income. Revenue from operations for the year rose 27.8% to ₹78,208 crore from ₹61,178 crore in the previous year. For the quarter ended March 31, 2026, the company recorded a net profit of ₹2,392 crore on revenue of ₹23,899 crore.

The company's total income for FY26 stood at ₹79,251 crore, compared to ₹62,822 crore in the prior year. Total expenses for the year increased to ₹66,881 crore from ₹54,224 crore in FY25. The Board of Directors approved the audited financial results at a meeting held on May 20, 2026.

Financial Performance

The earnings per share (EPS) for the financial year increased to ₹87.36 from ₹60.15 in the previous year. For the quarter ended March 31, 2026, EPS was reported at ₹22.53. The company operates a single business segment focused on the manufacture and sale of transformers.

Particulars	Year Ended 31-Mar-26 (₹ in lakhs)	Year Ended 31-Mar-25 (₹ in lakhs)
Revenue from operations	78,208	61,178
Total Income	79,251	62,822
Total Expenses	66,881	54,224
Profit Before Tax	12,370	8,598
Profit After Tax	9,277	6,388
Basic EPS (₹)	87.36	60.15

Assets and Liabilities

The total assets of the company as of March 31, 2026, stood at ₹55,456 crore, an increase from ₹43,589 crore in the previous year. Total equity rose to ₹37,371 crore from ₹28,075 crore, while total liabilities increased to ₹18,085 crore from ₹15,514 crore.

Particulars	As at 31-Mar-26 (₹ in lakhs)	As at 31-Mar-25 (₹ in lakhs)
Total Non-Current Assets	10,991	7,694
Total Current Assets	44,465	35,895
Total Assets	55,456	43,589
Total Equity	37,371	28,075
Total Liabilities	18,085	15,514

Cash Flow and Auditor's Report

Net cash generated from operating activities for the year was ₹5,687 crore, compared to ₹5,530 crore in the previous year. Cash and cash equivalents at the end of the period stood at ₹6,263 crore. The statutory auditors, ASA & Associates LLP, issued an unqualified report on the financial results, confirming compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.