Kanohar Electricals - IPO Report

Kanohar Electricals is one of the leading domestic players in Indian transformer manufacturing by Fiscal 2026 revenue and has over 40 years of experience in the transformer business.

The company operates through Transformer Manufacturing and EPC businesses. Transformer Manufacturing contributed 83.43% of operating revenue in FY26, while EPC contributed 16.44%, undertaking turnkey projects for substations and transmission lines.

As of March 31, 2026, Kanohar was one of only five companies in India with short-circuit test certification for 500 MVA, 400 kV transformers and has a technical collaboration with CHEM Taiwan to manufacture GIS bays up to 252 kV.

Its product portfolio includes power, traction and Scott-connected transformers, shunt reactors and high-voltage GIS, serving power transmission, railways, renewable energy and distribution sectors. Its two Meerut facilities have 19,200 MVA of transformer capacity, supported by backward integration, in-house engineering and testing capabilities.

The company has a strong track record with PSUs, state utilities and private-sector customers, including POWERGRID, GETCO, Rajasthan Transco and MAHATRANSCO. It received a ₹568.7 crore...