Quality Power Electrical Equipments Limited has informed the Exchange regarding a press release dated September 24, 2025, titled "Press Release regarding signing of Agreement by material Subsidiary".
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Mehru Electrical and Mechanical Engineers Pvt. Ltd., a material subsidiary of Quality Power Electrical Equipments, has signed a landmark co-development agreement with Hyosung T&D India Pvt. Ltd. (a wholly-owned subsidiary of Korea's Hyosung Heavy Industries) on September 23, 2025. The partnership aims to design and manufacture Gas-Insulated Switchgear (GIS) Instrument Transformers, positioning Mehru as one of the first Indian companies to co-develop this technology for global markets. The products will target growing segments like metro rail, offshore wind, data centres, and high-voltage urban transmission. Initial products are expected to be developed and commercialized within the next 12 months, supporting India's 'Make in India' vision by reducing import dependence.
Positive for shareholders — this strategic collaboration with a major global Korean conglomerate significantly expands the subsidiary's product portfolio and opens export opportunities in the fast-growing GIS market (projected 7-8% CAGR through 2030), potentially driving long-term revenue and margin growth.