India, Chennai: Indo Tech Transformers has received a $4.5 M (₹428.8 M) order from Leap Green Energy Group for four transformers for renewable energy projects.
The contract includes two 125 MVA, 400/33 kV transformers for a solar project being developed for Magnolia Powertec Private Limited and two 125 MVA, 230/33 kV transformers for a wind project for Crocus Green Energy Private Limited.
The award follows Indo Tech Transformers’ July 2026 announcement that it would expand its product capabilities into higher-voltage transformer classes.
The company is also implementing a $51.6 M (₹4.95 B) phased manufacturing expansion programme that will increase capacity from 14,000 MVA to 50,000 MVA by FY29.
Phase 1 will raise capacity to 16,000 MVA with an investment of $7.8 M (₹750 M), followed by an increase to 20,000 MVA under Phase 2. Further phases will expand capacity to 25,000 MVA and ultimately 50,000 MVA.
The company reported FY26 revenue of $81.5 M (₹7.82 B), up 28 % year on year, while profit after tax increased 45 % to $9.7 M (₹930 M).
Source: Power Peak Digest
