Rising demand for power, increased grid infrastructure, inclusion of renewable power, investment in data centers and industrial capex are some of the factors behind the growth of the transformer industry in India. The rising order book has helped the listed transformer manufacturers and electrical equipment companies. The information provided by the management in the FY27 quarter regarding their revenues and margins can be of help in evaluating the company’s future potential. Here is a list of 4 transformer stocks.
Transformers & Rectifiers (India)
Transformers & Rectifiers (India) is an Indian producer of power and distribution transformers. This company caters to utilities and industries through its product range that includes transformers used for power transmission and distribution and other special purpose transformers.
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Transformers & Rectifiers (India) is aiming for revenue growth of 25% for FY27, alongside targets of 16% EBITDA margins and PAT margins of 9–10%. Transformers & Rectifiers (India) has come into FY27 with an order book worth about ₹6,630 crore, which will ensure that there is a significant execution pipeline in place. Growth through capacity addition should drive better execution in FY27.
Shilchar Technologies
The Shilchar Technologies company specializes in the production of power transformers and distribution transformers. The firm has gained the skills to be able to produce transformers of various types. It operates in both local and foreign markets.
For FY27, Shilchar Technologies has set a target of earning ₹800 crore in sales. The management believes that the momentum of the business will be better during the year and FY27 Q2 would have been largely secured. In addition to that, the firm is aiming at utilising its capacity on a very high level.
GE Vernova T&D India
GE Vernova T&D India is an enterprise which deals in the domain of electrical equipment used for power transmission and distribution. It manufactures transformers, circuit breakers, switch gears, HVDC equipment, substation automation and complete turnkey power solutions for utilities and others in the electricity value chain.
GE Vernova T&D India has reiterated its FY27 guidance on EBITDA margins to remain in the mid-20s and an expected annual order flow of ₹7,000–8,000 crore. The company has also ramped up investments in building further capacity. High demand for power transmission equipment, grid improvement and data centre infrastructure can help sustain the order book, with margin dynamics being another earnings monitorable.
Hitachi Energy India
The core business of Hitachi Energy India is the provision of technologies that relate to power grids for electricity transmission and distribution, and energy transition. Some of its products include transformers, grid systems, automation, and other power technologies.
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Hitachi Energy India began its FY27 journey with an all-time-high order book value of ₹32,222 crore, which provides the company with clear visibility on its revenues. The growth in its business comes from the investments that the company makes in the transmission system and the integration of renewables into the grid system. Management anticipates that demand from sectors like railways and metros will improve in the second half of FY27.
