Quality Power Electrical Equipments Limited (QPEEL) announced that its material subsidiary, Mehru Electrical and Mechanical Engineers Pvt. Ltd., has signed a significant co-development agreement with Hyosung T&D India Pvt. Ltd. for gas-insulated switchgear (GIS) instrument transformers. This strategic partnership aims to combine Hyosung's global expertise in advanced equipment and eco-friendly gas technologies with Mehru's proficiency in manufacturing high-voltage instrument transformers.

Key Highlights of the Agreement

• Mehru becomes one of the first Indian companies to co-develop GIS instrument transformer technology for global markets.
• The collaboration supports the 'Make in India' initiative and aims to reduce import dependence in the GIS sector.
• Development and commercialization of initial transformers are expected within 12 months.
• Products will be tested and certified to IEC/IEEE international standards.

Market Outlook and Strategic Importance

The global GIS market is projected to grow at a 7-8% CAGR through 2030, driven by factors such as renewable integration, urbanization, and grid modernization. This partnership positions Mehru to capitalize on this growth and diversify into the GIS value chain.

Mr. Bharanidharan Pandyan, Joint Managing Director of QPEEL, commented on the agreement: "By bringing global GIS technology to India, we are opening new frontiers for exports, achieving true self-reliance, and embedding India on the global map of advanced T&D manufacturing. This marks a proud milestone in Mehru's journey and underscores our commitment to innovation and technological leadership."

Potential Impact and Applications

The co-development agreement is expected to enable Mehru to:

• Extend its leadership in oil-filled and dry-type transformers
• Leverage Hyosung's expertise in eco-friendly gases and compact equipment design
• Address new demand segments such as metro rail, offshore wind, data centers, and high-voltage urban transmission projects

About the Companies

Quality Power Electrical Equipments Ltd. is a publicly listed Indian multinational specializing in high-voltage power equipment and advanced power quality solutions. The company serves utilities and industries in over 100 countries, focusing on grid stability, operational efficiency, and network reliability.

Hyosung Group, founded in 1966, is a South Korean conglomerate with approximately 17,000 employees and annual revenues exceeding USD 16.50 billion. Hyosung Heavy Industries, the business unit involved in this agreement, reported annual revenues of approximately USD 3.90 billion.

This collaboration between Mehru Electrical and Hyosung marks a significant step towards enhancing India's capabilities in the GIS sector and promoting the country as a global supplier of advanced transmission and distribution equipment.

Quality Power Electrical Equipments Limited has announced a significant new order worth approximately INR 11.50 crores for the supply of reactors for a STATCOM (Static Synchronous Compensator) project. This development marks a notable achievement for the company in the electrical equipment sector.

Order Details

Quality Power Electrical Equipments received a purchase order from a domestic entity for supplying reactors for the STATCOM project. Key details of the order include:

• Order Value: Approximately INR 11.50 crores (excluding taxes)
• Nature of Order: Single large order for reactor supply
• Execution Timeframe: To be completed within 12 months
• Client: Undisclosed due to a non-disclosure agreement

Project Significance

STATCOM projects are crucial in modern power systems, helping to improve power quality and stability. The substantial order value underscores the importance of Quality Power Electrical Equipments' role in this sector and demonstrates the company's capabilities in manufacturing critical electrical components.

Regulatory Compliance

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Quality Power Electrical Equipments has promptly disclosed this material development to the stock exchanges. The company has confirmed that:

• The order does not fall under related party transactions
• Promoters have no interest in the entity awarding the order

Company Secretary Statement

Deepak Ramchandra Suryavanshi, Company Secretary and Compliance Officer of Quality Power Electrical Equipments Limited, officially communicated this development to the National Stock Exchange of India Limited and BSE Limited.

This order represents a significant business opportunity for Quality Power Electrical Equipments Limited and may potentially impact the company's financial performance in the coming fiscal year.