MARSONS LIMITED

Manufactures power transformers in India for utilities and renewable-energy projects, and exports them overseas. The product range spans 10 MVA distribution-class transformers up to 132 kV Extra High Voltage class, built at a 45,000 sq. metre facility in Eastern India with an annual manufacturing capacity of 12,000 MVA. The Board has approved extending the range to the 400 kV/500 MVA class, which will raise annual capacity to 26,000 MVA. Customers include central and state transmission utilities — recent vendor approval from Power Grid Corporation of India (PGCIL) makes it the only PGCIL-approved EHV transformer supplier across West Bengal, Odisha, Jharkhand, Bihar, Assam and other eastern and north-eastern states — alongside domestic electrical contractors and overseas solar power developers. Recent export orders include a Rs 29.85 crore 200 MVA 115 kV unit for a solar project in Cherokee County, Alabama, and a Rs 7.75 crore 25 MVA unit for Hemet, California, both from US-based solar developers; a Rs 17.94 crore domestic order from S.T. Electricals covers 10 MVA units. FY26 revenue was Rs 245.43 crore, up 45.8% year-on-year, with net profit of Rs 46.33 crore. Materials account for 75.6% of revenue, making raw materials — typically copper, electrical steel, winding wire and transformer oil — the dominant cost.