Shirdi Sai Electricals Pledges 27.61 Lakh Shares of Indo-Tech Transformers for Debenture Security

Indo Tech Transformers announced that its promoter, Shirdi Sai Electricals Limited, has pledged 27,61,200 equity shares, representing 26% of the total share capital of Indo-Tech Transformers, to Catalyst Trusteeship Limited. This pledge serves as security for Non-Convertible Debentures (NCDs) worth INR 600.00 crores and Optionally Convertible Debentures (OCDs) worth INR 150.00 crores.

Key Details of the Pledge

The pledge affects Shirdi Sai Electricals' post-event holding, which is reduced to 61,52,236 shares (57.93% of total share capital).
The pledged shares provide security cover for the debenture issuances, which will be used to repay existing lenders.

Debenture Issuance Parties

NCD Debenture Trust Deed

Shirdi Sai Electricals Limited
Catalyst Trusteeship Limited
Mr. N. Visweswara Reddy

OCD Debenture Trust Deed

Shirdi Sai Electricals Limited
Catalyst Trusteeship Limited
Mr. N Visweswara Reddy
Neo Special Credit Opportunities Fund
Neo Credit Opportunities Fund I
Neo Special Credit Opportunities Fund II

The pledge is to be created within the timelines set out in the respective trust deeds, following the release of existing encumbrances once current lenders are repaid from the proceeds of the Non-Convertible Debentures.

This disclosure is made in compliance with Regulation 31 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and SEBI's Master circular dated February 16, 2023 (Reference: SEBI/HO/CFD/PoD-1/P/CIR/2023/31).

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.74%	-6.82%	-4.56%	-25.34%	-44.88%	+1,412.97%

Indo Tech Transformers Limited, a key player in the Indian transformer manufacturing sector, has announced significant expansion plans and released its financial results for the quarter ended September 30, 2025. The company's board has approved an additional capital expenditure of ₹25 crore to enhance its plant capacity, complementing its earlier expansion plans.

Capacity Expansion Plans

The company's board has given the green light to a ₹25 crore capital expenditure proposal aimed at increasing the plant capacity to 20,000 MVA. This investment is set to be implemented over the financial years 2024-2027. The new approval comes on top of an earlier sanctioned ₹75 crore capex for expanding capacity to 16,000 MVA.

According to the company's disclosure, the capacity expansion details are as follows:

Particulars	Details
Existing capacity	9,500 MVA
Current capacity utilization	80-90%
Proposed capacity addition	11,500 MVA
Target completion	March 2027
Total investment	₹100 Crores
Financing method	Internal accruals and Bank Borrowings (Term Loan)

This strategic move indicates Indo-Tech Transformers' commitment to growth and its anticipation of increased market demand in the coming years.

Q2 Financial Performance

For the quarter ended September 30, 2025, Indo-Tech Transformers reported the following key financial metrics:

Metric	Q2 FY2026 (₹ in crore)
Revenue from operations	70.81
Profit After Tax (PAT)	5.67

Half-Yearly Results

The company also released its results for the half-year ended September 30, 2025:

Metric	H1 FY2026 (₹ in crore)
Total Income	346.79
Profit Before Tax	32.83
Profit After Tax	43.95

Conclusion

The substantial capex approval and maintained high capacity utilization rates suggest that the company's leadership is optimistic about future growth prospects in the transformer market. The expansion plan, set to nearly double the company's production capacity over the next few years, indicates a strategic long-term vision to capitalize on potential market opportunities and strengthen Indo-Tech Transformers' position in the industry.