Quality Power Electrical Equipments Limited has announced a series of significant business developments, including new orders and contracts that demonstrate the company's strong position in the electrical equipment market.

Latest Orders

Quality Power Electrical Equipments has secured a new order worth ₹177.00 million. This represents a significant contract win for the electrical equipment manufacturer.

Additionally, the company has secured another order worth ₹110.00 million. These orders collectively strengthen the company's market presence.

Subsidiary Contract

The company's material subsidiary, Mehru Electrical and Mechanical Engineers Private Limited, has received a Letter of Intent (LOI) worth ₹177.00 million for the supply of Instrument Transformers. Key details of this contract include:

Additional Business Developments

Quality Power Electrical Equipments Limited has also secured other notable orders:

1. Air Core Reactor for FACTS Application:

   • Value: ₹110.00 million (Excluding GST)
   • Execution Timeline: 12 Months

2. Iron-Core 6% Copper Wound Reactor:

   • Value: ₹80.00 million (Excluding Taxes)
   • Execution Timeline: 12-15 Months

Transparency and Compliance

The company has confirmed that these transactions do not fall under related party transactions, and the promoters have no interest in the entities awarding the contracts. This disclosure aligns with Quality Power's commitment to transparency and compliance with regulatory requirements.

Corporate Governance

Quality Power recently held its 24th Annual General Meeting through video conferencing. Key highlights include:

• Adoption of audited Standalone and Consolidated Financial Statements
• Declaration of a dividend of ₹1.00 per equity share for non-promoter category shareholders
• Reappointment of Mrs. Chitra Pandyan as a Director
• Approval for continuation of Mrs. Chitra Pandyan as Whole-time Director beyond the age of 70 years

These recent developments underscore Quality Power Electrical Equipments Limited's strong market position and its continued focus on growth and shareholder value creation in the electrical equipment sector.

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.