4 Transformer Companies in India with Strong Order Books

#2 Voltamp Transformers

Next on the list is Voltamp Transformers.

Voltamp Transformers is a well-established player in the manufacturing of energy-efficient transformers, with over 62 years of industry experience.

The company has built a strong track record with more than 80,000 installations across domestic and international markets, offering reliable and high-quality transformer solutions.

Voltamp offers a comprehensive, energy-efficient and customizable range of transformers and related services:

• Oil-Filled Power & Distribution Transformers (Up to 160 MVA,11-220 kV)

• Dry-Type Transformers (Up to 10MVA, 3.3-33 kV)

• Compact Substations (Up to 2.5MVA, 33 kV class)

• Ring Main Units (RMUs) - 12 kV, 630 Amps

Specialising in both oil-filled and dry-type transformers, the company caters to a diverse range of industries such as power, oil & gas, petrochemicals, steel, cement, data centres, green energy, and commercial infrastructure.

Voltamp also holds a strong leadership position in India's transformer industry and is trusted by over 95% of listed corporates and multinational companies.

The company serves as a preferred partner for leading EPC players such as Larsen & Toubro, Technip, Tata Projects, Toyo Engineering, Petrofac, and Engineers India.

According to the company's press release dated 5 February 2026, the company commenced FY 2025-26 with an opening order book of Rs 9.4 bn (7,904 MVA). During the period from April 2025 onwards, it secured new orders worth Rs 19.8 bn (16,768 MVA), reflecting strong order inflow.

Going forward, the company plans to expand its reliance on renewable energy sources.

For more details, see the VOLTAMP TRANSFORMERS company fact sheet and quarterly results.

#3 CG Power and Industrial Solutions

Next on the list is CG Power and Industrial Solutions.

CG Power is ranked among the top 10 transformer manufacturers globally, delivering reliable and efficient energy solutions across multiple continents.

With decades of engineering expertise and innovation, the company is among the few players worldwide that design and manufacture a comprehensive range of transformers engineered to operate across diverse and challenging environments.

The company maintains an integrated presence across the entire power transmission and distribution (T&D) value chain, strengthening its position in the power equipment industry.

CG Power offers a broad portfolio of power transformers, including generator transformers, shunt reactors, auto transformers, furnace transformers, locomotive transformers, and trackside transformers, designed to meet complex field requirements.

In addition, the company provides a wide range of distribution transformers that support reliable power delivery across residential, commercial, infrastructure, and industrial applications.

Its offerings include distribution transformers, low power transformers, solar transformers, metro traction transformers, dry-type cast resin transformers, as well as eco-friendly bio and green transformers.

The company reported an order intake of Rs 43.72 bn for the quarter, while its unexecuted order backlog stood at Rs 157.53 bn as of 31 December, 2025, reflecting a 62% year-on-year growth, indicating strong revenue visibility.

Going forward, the company plans to expand its reach.

For more details, see the CG POWER & INDUSTRIAL company fact sheet and quarterly results.

#4 Transformers and Rectifiers India

Last on the list is Transformers and Rectifiers India.

Transformers and Rectifiers India is a prominent player in the manufacturing of transformers and reactors in India.

Its diversified product portfolio includes single-phase power transformers up to 500 MVA & 1200 kV class, furnace transformers, rectifier and distribution transformers, as well as specialty transformers catering to applications such as locomotive traction and other industrial uses.

The company has an installed manufacturing capacity of approximately 40,000 MVA across its facilities and maintains a global presence spanning over 25 countries.

Notably, it became the first Indian-origin company to receive an order for repairing an HVDC converter transformer, marking a significant milestone.

As of 31 December 2025, the company's order book stood at around Rs 54.5 bn, with additional inquiries worth nearly Rs 165 bn currently under negotiation, indicating strong demand visibility.

Going forward, the company's expansion plans remain on track. The Halol (Hangodar) facility expansion is expected to be completed in Q1 FY26-27, while the Moraiya facility is likely to become operational in Q2 FY26-27.

These expansions are expected to support higher volumes, improve execution flexibility, and enable the company to cater to strong demand visibility across its order pipeline.

For more details, see the TRANSFORMERS & RECTIFIERS company fact sheet and quarterly results.

Conclusion

The growth outlook for transformer companies remains strong, driven by significant investments in transmission and distribution infrastructure to meet rising electricity demand.

According to the Central Electricity Authority under the National Electricity Plan, India aims to increase transformer capacity by 776,330 MVA to 1,847,280 MVA by FY27.

However, only around 30% of this target had been achieved by FY25, indicating the need for accelerated investments in the coming years.

This gap is expected to drive sustained demand for transformer manufacturers, particularly those with strong execution capabilities and robust order books.

However, investors should focus on companies with strong order books, execution track records, and healthy balance sheets, as the sector can also be cyclical and dependent on government and infrastructure spending.

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