Indo Tech Transformers approves ₹360 cr capex to 2029

Board clears fresh capex for capacity jump

Indo Tech Transformers Limited has approved an additional capital expenditure (capex) of ₹360 crore to expand manufacturing capacity to 50,000 MVA, covering up to the 400 KV range, by March 2029. The proposal was sanctioned by the company’s Board of Directors at a meeting held on June 26, 2026. The company said the expansion is intended to meet growing demand and strengthen its market position.

The latest approval takes the total capex earmarked for capacity expansion to ₹495 crore. The company also indicated that the implementation of the newly approved expansion will be executed over the financial years 2028-2029.

What the latest ₹360 crore approval covers

As disclosed, the new capex is linked to scaling the plant’s overall capacity to 50,000 MVA by March 2029. The project scope includes manufacturing capability up to 400 KV range. Indo Tech Transformers also highlighted that the proposed capacity addition of 25,000 MVA would significantly scale up production capabilities.

The company’s current manufacturing capacity is stated at 14,000 MVA, with utilisation between 80% and 90%. This utilisation range signals a relatively tight operating position even before the planned scale-up, based on the company’s disclosures.

How this fits into earlier expansion phases

The ₹360 crore approval supplements prior capex sanctions of ₹75 crore, ₹25 crore, and ₹35 crore. Those earlier approvals were aimed at increasing capacity to 16,000 MVA, 20,000 MVA, and 25,000 MVA, respectively. The company said these projects are currently in progress.

Indo Tech Transformers has also separately disclosed that a total investment of ₹100 crore (₹75 crore approved earlier and an additional ₹25 crore approved on November 13, 2025) was meant to boost capacity from 9,500 MVA to 21,000 MVA by March 2027. In another disclosure linked to the same November 2025 board decision, the company described the target as increasing capacity to 20,000 MVA by March 2027, executable over FY2024-2027.

Capex approvals: dates and amounts

The company’s disclosures include a consolidated view of the capex approvals over multiple board meetings. With the June 2026 decision, the total planned investment for capacity expansion stands at ₹495 crore.

Funding mix: internal accruals and bank borrowings

For the June 2026 approval, the company said the project will be financed through a mix of internal accruals and bank borrowings, including term loans. A similar funding approach was also referenced in the earlier disclosure around the ₹100 crore expansion plan, which also cited internal accruals and bank borrowings.

This funding mix is important because it indicates the company plans to combine operating cash generation with external financing to support a multi-year capex programme.

Orders update: ₹156.25 crore for FY27 and FY28 delivery

Alongside expansion-related disclosures, Indo Tech Transformers also reported that it secured new orders totalling ₹156.25 crore, scheduled for delivery in FY27 and FY28. The order intake provides additional context for the company’s focus on increasing manufacturing capacity, though the company has not provided a detailed order-wise breakdown in the shared text.

Financial snapshot: FY26 revenue and profit growth

Indo Tech Transformers reported a 45.2% rise in net profit to ₹9,277 crore for FY26. Revenue for FY26 was reported at ₹78,208 crore, up 27.8%.

These figures, as provided, frame the broader operating backdrop against which the company is committing to a larger capital investment cycle.

Stock and valuation datapoints mentioned

The text also includes multiple market snapshots. Indo Tech Transformers’ share price was cited as moving down by 0.24% from a previous close of ₹1,684 to a last traded price of ₹1,680. Separately, another snapshot cited CMP at ₹1,822 and market capitalisation at ₹1,919.44 crore.

Because these are presented as separate datapoints without a common timestamp in the provided material, they should be read as different references captured at different times.

Why the expansion matters for the transformer market

The key operational takeaway is the scale of the planned increase. The company has indicated that utilisation is already at 80%-90% at the current capacity level disclosed. If demand remains firm, capacity expansion can reduce bottlenecks and allow the company to execute deliveries more smoothly, especially for higher voltage ratings up to 400 KV.

At the same time, the expansion timetable is long-dated, with execution cited over FY2028-2029 and a March 2029 target. That makes project execution and financing discipline important variables to track through subsequent disclosures.

Company and investor contact details disclosed

The provided information also lists the company’s registered office in Kancheepuram District, Tamil Nadu (PIN 631561), along with contact details including investor@indo-tech.com and the website http://www.indo-tech.com. Registrar details are listed as well, with an address in Vikhroli (West), Mumbai.

Conclusion

Indo Tech Transformers’ ₹360 crore capex approval expands the company’s planned capacity roadmap to 50,000 MVA by March 2029 and takes total expansion investment to ₹495 crore. The company has said the project will be funded through internal accruals and bank borrowings, while earlier expansion projects remain in progress. Investors are likely to track subsequent milestones, including execution progress across FY2028-2029 and any further updates tied to capacity ramp-up and order deliveries in FY27 and FY28.