Indo Tech Transformers hit an upper circuit of 5% at Rs 3,047.35 after the company announced that it has received a purchase order from domestic entity aggregating to Rs 117.17 crore for supply of transformers.
The order, valued at Rs 117.17 crore, involves the supply of 13 units of 150 MVA transformers. The delivery of the transformers is scheduled according to a month-wise timeline, with the final delivery expected by December 2025.Additionally, the companys board has approved a capital expenditure plan of Rs 75 crore aimed at expanding plant capacity. The capacity expansion, which will increase production to 16,000 MVA, is set to be executed over the financial years 2024-2027. The project will be funded through a combination of internal accruals and bank borrowings, including a term loan.
Furthermore, the company has also revealed that it has received Letter of Award (LOA) on 30 December 2024 for supply of 3 Nos of 192 MVA transformers, with the aggregate value of the order at Rs 32.32 crore.
Indo Tech Transformers manufactures power and distribution transformers and various special application transformers and mobile sub-station transformers.
The companys net profit surged to Rs 17.72 crore in the quarter ended September 2024 as against Rs 7.07 crore during the previous quarter ended September 2023. Sales rose 52.62% to Rs 146.23 crore.
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