Indo Tech Transformers Wins ₹42.88 Crore Renewable Order

Order announcement

Indo Tech Transformers has received a ₹42.88 crore order from Leap Green Energy Group for transformers to be used in solar and wind projects. The order value is exclusive of taxes. The company disclosed the contract in a Regulation 30 filing context after an earlier order-related corrigendum dated August 31, 2026. The Leap Green order was reported on September 23, 2026. It covers four power transformers across two voltage classes. The award adds to the transformer maker's disclosed order wins during the September quarter of FY27.

Scope of the Leap Green contract

The contract includes two 125 MVA, 400/33 kV transformers for a solar project being developed for Magnolia Powertec Private Limited. It also includes two 125 MVA, 230/33 kV transformers for a wind project for Crocus Green Energy Private Limited. In total, the order covers four 125 MVA transformers. The mix places the company in both solar and wind project supply chains. The disclosed scope identifies the end projects and voltage ratings, rather than only the aggregate contract value. These specifications are relevant because the order includes equipment in the 400 kV class.

Higher-voltage product expansion

The order follows Indo Tech Transformers' July 2026 announcement that it would expand its product capabilities into higher-voltage transformer classes. The company has stated that the latest wins strengthen its presence in the 400 kV transformer segment. Higher-voltage transformers are used in large-scale transmission and power evacuation systems. The Leap Green award includes two 400/33 kV units, providing a disclosed order example in this category. The company has also linked the order pipeline to renewable energy and higher-voltage transformer business.

Q2FY27 order inflow

Indo Tech Transformers disclosed four orders during Q2FY27, covering the July to September 2026 period. Aggregate order inflow for the quarter stood at ₹317.43 crore, based on the information provided. The ₹42.88 crore Leap Green contract forms part of this total. Other previously disclosed orders include a ₹165.55 crore purchase order from Andhra Pradesh Transmission Corporation Limited, or AP TRANSCO. The company also referred to two Waaree Renewable Technologies orders with a combined value of ₹109 crore.

AP TRANSCO delivery schedule

AP TRANSCO placed orders worth ₹165.55 crore plus applicable taxes for 26 power transformers. The scope comprises 17 units rated 80 MVA, 220/33 kV, and nine units rated 80 MVA, 132/33 kV. Deliveries for all 26 units are scheduled between October 2026 and June 2027. This order is materially larger by value and unit count than the Leap Green contract. Together, the disclosed contracts show demand across renewable project applications and transmission-system requirements.

Relevance for renewable projects

Solar and wind plants require transformers to step up voltage for connection to the grid. The Leap Green order supplies transformers for both types of renewable projects. The 400/33 kV units are assigned to Magnolia Powertec's solar project, while the 230/33 kV units are assigned to Crocus Green Energy's wind project. The order therefore gives Indo Tech exposure to two separate project applications within the same customer group. The disclosed contract does not provide a delivery schedule, and no completion timeline has been stated in the available information.

Manufacturing background

Indo Tech Transformers manufactures power and distribution transformers, transformers for special applications, and mobile substations. Its Kancheepuram plant commissioned a transformer-tank manufacturing facility in October 2008 at a cost of ₹3.5 crore. The company has also said it was locating suitable technical partners for manufacturing large power transformers at the Kancheepuram facility. It was separately pursuing a foreign collaboration for 400 kV transformer manufacturing. The current 400 kV solar-project order is relevant to that stated direction of product development.

Market and business implications

The ₹42.88 crore contract contributes directly to the company's disclosed Q2FY27 order inflow of ₹317.43 crore. It also broadens the mix of reported orders beyond transmission utility procurement to renewable-energy projects. The AP TRANSCO contract has a stated delivery window extending to June 2027, while no comparable schedule was provided for the Leap Green order. Investors and industry participants can track future disclosures for manufacturing progress, deliveries and further order awards. The available announcements establish order values and equipment specifications, but do not state the eventual revenue-recognition timing.

Why the order matters

The Leap Green contract combines renewable-sector demand with 400 kV and 230 kV transformer supply. Its four-unit scope is smaller than the AP TRANSCO order, but it includes two 400/33 kV transformers for a solar project. The reported Q2FY27 total of ₹317.43 crore indicates that the company received multiple orders during the quarter. The order flow also includes contracts connected to Waaree Renewable Technologies and AP TRANSCO. The key confirmed next milestones are order execution and the scheduled AP TRANSCO deliveries between October 2026 and June 2027.