Atlanta Electricals Limited has announced receipt of orders worth ₹288 crores from Karnataka Power Transmission Corporation Limited (KPTCL) and Datta Power Infra Private Limited, as disclosed under Regulation 30 of SEBI regulations on January 29, 2026. The orders are executable over the next 12 months and have elevated the company's order book to ₹2,787 crores.

Order Details and Specifications

The contract awards consist of five separate orders distributed between two major clients. The breakdown demonstrates the company's capability to handle diverse transformer requirements across different voltage specifications and capacities.

KPTCL Contract Specifications

The ₹146 crore contract from Karnataka Power Transmission Corporation Limited encompasses the supply of 13 transformers with varying specifications:

• Six 100 MVA, 220/110 KV Power Transformers
• Seven 150 MVA, 220/66 KV Power Transformers
• 11 Nitrogen Injection Fire Protection Systems (NIFPS)

Datta Power Infra Project Details

Datta Power Infra Private Limited, functioning as an Independent Power Producer (IPP) executing projects for NTPC across three states, has awarded ₹142 crores worth of orders. The contract covers projects in Madhya Pradesh, Maharashtra, and Andhra Pradesh, requiring:

• Ten 125 MVA, 220 kV Power Transformers
• Five 100 MVA, 220/33 kV Power Transformers

Management Commentary and Strategic Outlook

Chairman and Managing Director Niral Patel emphasized the significance of these wins in the context of India's power sector growth. He highlighted the robust momentum in both generation and transmission segments, noting that the NTPC-related order provides optimal balance between utility and private sector projects. The management remains committed to strengthening national power infrastructure through advanced transformer solutions while enhancing capacity utilization across expanded manufacturing facilities.

Company Performance and Order Book Position

Atlanta Electricals reported strong financial performance in Q3 FY26, with 80% revenue growth and 120% EBITDA surge. PAT grew by 94.6% year-on-year in Q3FY26 and 34.6% in 9MFY26, while EBITDA margins stood at 19.4% for Q3FY26 and 17.7% for 9MFY26. The company got listed on NSE and BSE on September 29, 2025.

Manufacturing Capabilities and Experience

With over 30 years of industry experience, Atlanta Electricals operates five facilities across Gujarat and Karnataka. The company manufactures power transformers ranging from 5 MVA/11 kV up to 500 MVA/765 kV, along with auto transformers, inverter duty transformers, furnace transformers, generator transformers, and special duty transformers. As of December 31, 2025, the company has supplied 4,710 transformers totaling 1,07,229 MVA across India, supporting grid modernization and capacity expansion through energy-efficient transformer solutions.

Atlanta Electricals Limited has delivered outstanding financial results for Q3 FY26, marking a significant milestone in the company's growth trajectory. The transformer manufacturer reported strong performance across all key metrics, driven by expanded manufacturing capacity and robust demand in India's power transmission sector.

Strong Financial Performance in Q3 FY26

The company's consolidated financial results for Q3 FY26 demonstrate exceptional growth momentum:

The revenue growth of 80% year-on-year was complemented by a sequential increase of 49% from INR317 crores in Q2 FY26. This strong performance reflects the contribution from the new Vadod facility and continued high utilization at the company's legacy manufacturing plants.

Nine-Month Performance Shows Consistent Growth

For the nine months ended December 31, 2025, Atlanta Electricals maintained its growth trajectory:

The margin expansion reflects operating leverage from higher volumes, economies of scale, favorable product mix, and improved procurement efficiency in key input materials.

Record Order Book and Major Contract Wins

Atlanta Electricals achieved an all-time high order book of INR2,451 crores as of December 31, 2025, with Q3 order intake of INR796 crores providing strong execution visibility. Key orders secured during the quarter include:

Operational Expansion and Capacity Utilization

The company has significantly expanded its manufacturing capacity from approximately 16,000 MVA to 63,000 MVA, representing a nearly four-fold increase over the past 18 months. Q3 FY26 marked the first full quarter where the expanded capacity contributed meaningfully to revenues.

The Vadod facility, which commenced production in July, contributed approximately one-third of quarterly revenue and is designed for transformers up to 500 MVAs, 400 kV class. Atlanta Trafo facility commenced operations during the quarter, providing manufacturing capability for 400 kV and 765 kV class transformers.

Industry Outlook and Strategic Positioning

Atlanta Electricals is positioned to benefit from India's transmission infrastructure expansion, with INR9.6 trillion planned transmission capex through 2032. The company has established itself among the largest integrated power transformer producers in India, with manufacturing capabilities spanning from 33 kV class power transformers to 765 kV class extra high voltage units.

The management addressed concerns about potential Chinese participation in government tenders, noting that structural realities remain unchanged with local manufacturing requirements and 12-18 month approval processes. The company's competitive strength lies in three decades of customer relationships and proven execution track record across 19 states and three union territories.

Future Growth Prospects

With the investment phase largely complete, Atlanta Electricals is focused on driving capacity utilization across its expanded manufacturing footprint. The company expects to maintain its historical growth rate of 40% year-on-year and anticipates operating leverage benefits to continue flowing through to margins as utilization scales. The record order book provides strong execution visibility, positioning the company to capitalize on the multi-year opportunity in India's power transmission sector.