Shares of Transformers and Rectifiers (India) Ltd surged over 8% on Monday, March 17, after the company said it has secured orders worth ₹726 crore from Gujarat Energy Transmission Corporation Ltd (GETCO).The contract entails the manufacturing of auto transformers and bus reactors, alongside associated work, the company said in a stock exchange filing.
The entire project is to be completed within 18 months from the date of the Letter of Intent (LOI) issuance.
Last month, Transformers and Rectifiers India Managing Director Satyen Mamtora announced plans of establishing a new plant dedicated to manufacturing transformers for solar energy.
He revealed that the plant will produce 150 transformers per month, primarily for solar and green hydrogen projects. These new transformers will have a rating of approximately 12.5 MVA (megavolt amperes).With this expansion, the company’s total capacity will reach around 15,000 MVA. Additionally, the company plans to increase the capacity of its Moraiya plant to 20,000 MVA, bringing the overall manufacturing capacity to approximately 65,000-70,000 MVA.
The entire project is to be completed within 18 months from the date of the Letter of Intent (LOI) issuance.
Last month, Transformers and Rectifiers India Managing Director Satyen Mamtora announced plans of establishing a new plant dedicated to manufacturing transformers for solar energy.
He revealed that the plant will produce 150 transformers per month, primarily for solar and green hydrogen projects. These new transformers will have a rating of approximately 12.5 MVA (megavolt amperes).With this expansion, the company’s total capacity will reach around 15,000 MVA. Additionally, the company plans to increase the capacity of its Moraiya plant to 20,000 MVA, bringing the overall manufacturing capacity to approximately 65,000-70,000 MVA.
Mamtora mentioned that the annual demand for transformers in India is approximately 4.5 lakh MVA, while the current supply stands at around 3.8 lakh MVA. The company has received inquiries for about 18,000 MVA and anticipates converting around 20% of these into confirmed orders over the next two quarters.
Shares of Transformers and Rectifiers were trading 4.75% higher at ₹392.55 apiece on the BSE at 11:49 am.
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