Vilas Transcore builds 36,000-MTPA CRGO platform and new lines

Vilas Transcore Limited has expanded CRGO lamination capacity to 36,000 metric tonnes per annum (MTPA), three times its earlier 12,000 MTPA, while commercialising nanocrystalline cores, transformer radiators and conductors. The 24,000-MTPA addition was commercialised on 25 July 2025, and the newer lines are at different stages of production and sales ramp-up.

How is Vilas Transcore expanding CRGO capacity?

Vilas Transcore has raised CRGO lamination capacity from 12,000 MTPA to 36,000 MTPA by adding 24,000 MTPA at Unit 3 in Vadodara, Gujarat. The new capacity was commercialised on 25 July 2025, and management says its focus is now on increasing production volumes and capacity utilisation.

The earlier Units 1 and 2 have 12,000 MTPA of CRGO capacity and operated at about 100% utilisation in FY25. Unit 3 has more than 4,00,000 square feet of manufacturing area, compared with more than 1,42,000 square feet at Units 1 and 2, and also accommodates the newer product verticals.

CRGO production increased by 7,787 MT in FY26 from FY25, while the added capacity was commercialised only in July 2025. Vilas Transcore identifies CRGO coils, laminations, stacked cores, wound cores and core assemblies as its established business for power and distribution transformers, renewable-energy equipment, grid infrastructure and industrial transformers.

Which new product lines is Vilas Transcore commercialising?

Vilas Transcore is commercialising nanocrystalline cores, transformer radiators and copper and aluminium conductors alongside the expanded CRGO operation. Nanocrystalline cores have 240 MTPA of installed capacity and began commercial production in November 2025, with gradual ramp-up under way.

Transformer radiators have reported capacity of 7,200 MTPA, and commercial operations have commenced with production ramp-up in progress. Vilas Transcore describes the steel radiators as cooling and heat-dissipation equipment for power and distribution transformers across utility and industrial applications.

The conductor range includes paper-insulated copper and aluminium conductors, as well as continuously transposed conductor (CTC) products for transformer windings and specialised electrical equipment. Commercial sales of paper-covered copper and aluminium conductors began in September 2026, making conductors the latest of the three newer product lines to enter sales.

What does the broader portfolio change for Vilas Transcore?

Vilas Transcore now presents a four-product portfolio of CRGO laminations, nanocrystalline cores, transformer radiators and insulated conductors. Management’s stated objective is to increase wallet share from transformer original equipment manufacturers by supplying more components to existing customers rather than relying solely on CRGO processing.

The applications overlap in power and distribution transformers, renewable-energy transformers, industrial and heavy-duty transformers, transmission and grid infrastructure, and railway electrification. Nanocrystalline cores are specifically intended for high-frequency inductors, renewable-energy systems and specialised transformer applications, whereas radiators serve transformer cooling requirements.

Vilas Transcore has three Vadodara facilities spanning more than 5,00,000 square feet and 290 personnel. Its customer-development plan includes deeper relationships with existing transformer manufacturers, targeting domestic manufacturers and engineering, procurement and construction contractors, and pursuing exports in Gulf countries, Europe and Canada.

How does POWERGRID approval support Vilas Transcore's plan?

Vilas Transcore has received POWERGRID approval for CRGO slitting and lamination cutting for applications up to 220 kilovolts. The company says the approval enables access to higher-voltage transformer opportunities and strengthens its positioning with leading transformer manufacturers.

The approval applies to CRGO slitting and lamination cutting, rather than specifically covering the radiator, nanocrystalline-core or conductor businesses. Management also states that the approval creates eligibility to partner with global multinational corporations, while exports across Gulf countries, Europe and Canada remain a stated target.

Vilas Transcore lists Electotherm, Voltamp, ECE Industries Limited, Atlanta, Atlas, Shilchar and Kirloskar Electric among named customers. The stated route to higher spending per customer is to offer the newer component lines to existing transformer customers while adding domestic manufacturers and contractors.

What do recent results show about the expansion ramp-up?

Vilas Transcore reported FY26 revenue from operations of Rs 460.7 crore, compared with Rs 353.1 crore in FY25, while CRGO production rose to 19,856 MT from 12,069 MT. FY26 earnings before interest, tax, depreciation and amortisation (EBITDA) were Rs 51.5 crore and profit after tax was Rs 39.6 crore, compared with profit after tax of Rs 34.5 crore in FY25.

In H1FY27, revenue from operations was Rs 242.5 crore, up from Rs 231.9 crore in H2FY26 and Rs 228.8 crore in H1FY26. EBITDA increased sequentially to Rs 24.8 crore from Rs 20.4 crore in H2FY26, but was below Rs 31.1 crore in H1FY26; Vilas Transcore attributed the year-on-year profitability effect to lower realisations and initial costs of expanded facilities and new products.

Facility investment is visible in the balance sheet and cash-flow data. Property, plant, equipment and intangible assets increased to Rs 122.7 crore at September 2026 from Rs 81.4 crore at March 2026, while H1FY27 investing cash outflow was Rs 45 crore and cash and cash equivalents ended the period at Rs 74.3 crore.

Conclusion

Vilas Transcore’s strategy combines a threefold increase in CRGO capacity with a move into components that address magnetic-core, cooling and winding requirements. The 36,000-MTPA CRGO platform remains the largest capacity element, while 7,200 MTPA of radiators, 1,500-1,800 MTPA of conductors and 240 MTPA of nanocrystalline cores widen the range offered to transformer customers.

The next measures to watch are production volumes and utilisation at the expanded CRGO platform, the disclosed ramp-up of radiator and nanocrystalline-core operations, and sales development following conductor commercialisation in September 2026. Management’s stated opportunity from POWERGRID approval for work up to 220 kilovolts also remains dependent on conversion into higher-voltage transformer business.