Quality Power

What Quality Power does

Quality Power Electrical Equipments Limited is an Indian publicly-listed designer and manufacturer of high-voltage electrical equipment and power-quality solutions, founded in 2001 and headquartered in Sangli, Maharashtra. Its product portfolio spans HVDC reactors up to 800 kV class, VSC-based STATCOMs, Static Var Compensators (SVC) with TCR/TCT and thyristor switching, passive/active/hybrid harmonic filters, metal-enclosed capacitor banks up to 33 kV, a full transformer family (arc furnace, earthing, converter duty, dry type, special purpose), PLCC wave traps and LMU/LMDU components, instrument transformers (CT/PT/discharge coils), and end-to-end Battery Energy Storage Systems delivered through its Turkey-based subsidiary Endoks Enerji. The company serves global electric utilities (PGCIL, Abu Dhabi Transco, TEIAS, Israel Electric, NEPCO Jordan), renewable energy developers (Kalyon 1000MW solar, Total Energies Philippines, Ørsted offshore, Greenko pumped hydro), oil and gas majors (Saudi Aramco, Kuwait Oil Company), and heavy industrial users (Tamsa Steel, Kurum Steel, Indian arc furnace operators), with installations across more than 100 countries.

The business model is project-based hardware sales of custom-engineered equipment to enterprise and government buyers, with long execution cycles typically spanning 8-24 months and quote-based pricing on multi-crore contracts. Distribution relies on direct enterprise field sales to utilities, EPCs and OEMs, supplemented by an expanding group structure: wholly owned subsidiaries (Mehru Electrical & Mechanical Engineers for instrument transformers, Endoks Enerji in Turkey for BESS and SVC, S&S Transformers, Quality Power Engineering Projects), a 50/50 joint venture (Sukrut Electric with Yash Highvoltage), a 76%-owned power electronics platform (Veeral Controls), a pending 100% acquisition of Winwin Speciality Insulators, and a minority stake in Nebeskie Labs. FY26 consolidated revenue reached ₹947.27 crore (up 180% YoY) with net profit of ₹121.34 crore, a market cap near ₹9,796 crore, and a 175% one-year stock rally reflecting institutional investor conviction.

Recent strategic activity has been heavily inorganic: a 2025 IPO on Indian exchanges funded an aggressive M&A and capacity expansion program including a new global coil factory, Sangli plant timeline advancement to June 2026, and Cochin capacity completion. The company has simultaneously broadened into hydrogen, rail traction and defense power electronics (Veeral Controls), into insulators (Winwin), and into BESS (Endoks), while expanding its investor relations and event-driven engagement with global institutional investors. Q4 FY26 EBITDA margin contracted to 10.5% from 14.84% YoY due to one-time labour costs and a ₹26 crore loss at the Turkey subsidiary, signalling near-term integration and execution risk alongside the growth surge.

Name

Quality Power

Legal name

Quality Power Electrical Equipments Limited

Website

https://qualitypower.com

Company type

Public

Founded year

2001

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Quality Power Electrical Equipments Limited is an Indian publicly-listed designer and manufacturer of high-voltage electrical equipment — HVDC reactors, STATCOMs, SVCs, harmonic filters, capacitor banks, transformers and BESS — serving global utilities, renewable developers and heavy industrial customers across 100+ countries.

Ownership category

akta.pro rank

Product category

High-Voltage Power Transmission Equipment

NAICS

Electrical Equipment Manufacturing (33531), Electric Power Transmission, Control, and Distribution (22112), Electric Bulk Power Transmission and Control (221121)

SIC

Power, Distribution & Specialty Transformers (3612), Switchgear & Switchboard Apparatus (3613), Miscellaneous Electrical Machinery, Equipment & Supplies (3690)

akta.pro primary industry

HVDC Converter Transformers, Reactors & Harmonic Filters (EUADAMAC)

akta.pro secondary industries

HVDC Transmission Systems & Converter Stations (EUADAAAE), HVDC Converter Stations & HVDC Transmission EPC (EUAEABAD), HVDC/FACTS & Power Electronics Retrofit/Upgrades (STATCOM, SVC, Series Comp) (EUAEALAG), Power Transformers, Reactors & Auxiliary Power Systems (EUADACAJ), Medium/Low-Voltage Power Distribution (MCCs, Panels, UPS, Grounding) (EUAEAFAB), Switching Stations & Reactive Power Facilities (Capacitor Banks, SVC/STATCOM) (IMAFAHAH)

Keywords

• High voltage equipment
• Power transmission products
• Reactive power compensation
• Harmonic filter solutions
• HVDC reactor systems

Headquarters

HQ city

Sangli

HQ country

India

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. High-voltage equipment sales (reactors, transformers, capacitor banks, harmonic filters): Primary revenue stream from custom-engineered, project-based sales of high-voltage electrical equipment (HVDC reactors up to 800 kV, transformers, capacitor banks, harmonic filters, STATCOM, SVC, PLCC components) to global utilities, EPC contractors, OEMs and industrial customers. Contracts typically span 8-18 months execution.
2. Turnkey Power Quality and Reactive Power Compensation Systems: Integrated turnkey solutions including STATCOM, SVC and harmonic filter banks delivered in collaboration with Endoks Energy Systems (Turkey); project-based with custom engineering content.
3. Battery Energy Storage System (BESS) projects: Emerging revenue stream of design, manufacture, supply and integration of BESS solutions through Endoks Enerji Anonim Şirketi; long execution cycle (~21 months, by Dec 2027) with potential order value expansion (e.g., ₹152 crore base, potentially up to ₹292 crore).
4. Industrial / Special Purpose Transformer and Power Electronics Sales: Revenue from specialized transformers (arc furnace, earthing, converter duty, dry type, traction) and high-current power electronics (via Veeral Controls 76% acquisition) for hydrogen production, rail traction and defense applications.
5. Instrument Transformer and EDISON Composite Enclosure Sales: Sales of instrument transformers (CT/PT) and FRP enclosures/composites via Mehru Electrical & Mechanical Engineers (material subsidiary) and Edison Composites brand for utilities and industrial customers.

Go-to-market motion4 records

Distribution channels5 records

Marketing channels9 records

Core offering

Quality Power Electrical Equipments Limited designs, manufactures and supplies high-voltage electrical equipment and integrated power-quality solutions for grid transmission, distribution and renewable integration. Its product range spans HVDC reactors (up to 800 kV), STATCOM/SVC systems, metal-enclosed capacitor banks, harmonic filters, transformers and PLCC components, delivered as engineered, project-based systems to global utilities, EPC contractors, OEMs and heavy-industrial customers across more than 100 countries.

Differentiator

Problem solved

Functional benefit

Brands

• Edison Composites: Glass reinforced polyester enclosures (NEMA/IP rated) for high-power electrical equipment, metering cabinets and system integration enclosures, marketed as a distinct product brand under Quality Power's product catalogue.

Products and services

• HVDC and FACTS Reactors High-voltage direct current and FACTS reactors including AC/DC filter reactors, smoothing reactors, converter reactors, phase reactors and thyristor-controlled reactors for HVDC transmission and reactive power compensation, with capability up to 800 kV class. Supplied to utilities including PGCIL, Abu Dhabi Transco and South Korea's Jeju Interkink project.
• STATCOM (Static Synchronous Compensator) Voltage Source Converter (VSC) based shunt compensation system providing inductive and capacitive reactive power, flicker mitigation, power factor correction, voltage regulation, voltage ride-through support and load balancing for utilities and industrial customers.
• Static Var Compensator (SVC) Turnkey Systems Turnkey SVC systems including TCR, TCT, harmonic filter reactors, water cooling and control/protection systems delivered in collaboration with Endoks Energy Systems (Turkey) for EAFs, renewables point-of-common-coupling, transmission lines and railway loads.
• Metal-Enclosed Capacitor Banks Custom-built metal-enclosed capacitor banks up to 33 kV in IPxx configurations with conservative clearances, even heat distribution and thyristor/electromechanical switching options for LV, MV and HV (400V to 3600 kV) applications.
• Harmonic Filter Portfolio Comprehensive harmonic filter offering including series/parallel passive filters, band-pass, high-pass and C-type filters, plus active harmonic filters (AHFs) for single-phase, three-phase and mixed loads with shunt/series configurations.
• Arc Furnace Transformers Specialized transformers for electric arc furnaces delivering high current (tens of kA) at low voltage (100-1000V) with on-load/off-load tap changers, advanced cooling (forced air/oil/water), harmonic mitigation features and reinforced insulation to withstand frequent short circuits.
• PLCC Wave Traps / Line Traps Resin-encapsulated dry-Q main coils per IEC 60353, Class F insulation, self-resonant frequency greater than 500 kHz, with single-frequency, damped single-frequency, double-frequency and wide-band tuning options and polymeric surge arrestors, supplied to PGCIL, TEIAS and Israel Electric.
• Battery Energy Storage Systems (BESS)
• Instrument Transformers (CT/PT) Current Transformers, Potential Transformers and Discharge Coil/PT transformers supplied through material subsidiary Mehru Electrical & Mechanical Engineers to utilities, EPC contractors and industrial customers.
• Edison Composites FRP Enclosures Glass reinforced polyester (GRP) enclosures (NEMA/IP rated) for high-power electrical equipment, metering cabinets and system integration enclosures, marketed under the Edison Composites brand.

Quantifiable outcome

• FY26 consolidated revenue grew 180% YoY to ₹947.27 crore; net profit up 83% to ₹121.34 crore
• +5 more outcomes

Named customers18 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature9 records

Partnerships

Six partnerships are on record, tiered core.

• Winwin Speciality Insulators Limited (WSIL)coreStrategic or Co-development Partner · 10 June 2026Term sheet signed 10.06.2026 to acquire 100% equity of WSIL at an enterprise value of approximately ₹315 crore (subject to due diligence and regulatory approvals). WSIL operates a fully automated insulator manufacturing facility in Atchutapuram SEZ (Visakhapatnam) with capability up to 1200 kV ceramic and 400 kV polymeric insulators, on a 47.7-acre site with port access; deal expected to close within three months. Strengthens high-voltage equipment portfolio and global utility market reach.
• Endoks Enerji Anonim Şirketi (Turkey)coreStrategic or Co-development Partner · 28 March 2026Turkey-based step-down subsidiary that secured a Rs 1.52 billion (potentially up to Rs 2.92 billion) international BESS order involving design, manufacturing, supply and integration of energy storage systems, with completion by December 2027. Endoks also collaborates with Quality Power on SVC turnkey solutions.
• Yash Highvoltage LimitedcoreStrategic or Co-development Partner · 9 January 2026JV partner with Quality Power for the 50% acquisition of Sukrut Electric Company Private Limited; Yash Highvoltage independently reported FY26 consolidated revenue up 57% YoY to Rs 2,351 million and net profit up 75% to Rs 374 million, indicating a strong operating partner.
• Veeral Controls Pvt LtdcoreStrategic or Co-development Partner · 26 December 2025Quality Power acquired 76% majority stake in Veeral Controls via Share Subscription Agreement and Shareholders Agreement (executed 25.12.2025), enhancing capabilities in high-current power electronics for hydrogen production, rail traction, and defense applications and aligning with growth in hydrogen and electrification sectors.
• Sukrut Electric Company Private LimitedcoreStrategic or Co-development Partner · 7 October 2025Quality Power and Yash Highvoltage jointly acquired 50% (20,42,754 equity shares) of Sukrut Electric Company Private Limited via Share Purchase Agreement (07.10.2025), with completion intimation on 09.01.2026. Quality Power nominated Mr. Ashish Bhardwaj as Nominee Director on Sukrut's board (27.01.2026). The JV expands the product portfolio and improves access to OEM and utility customers.
• Hyosung T&D India Pvt LtdcoreStrategic or Co-development Partner · 24 September 2025Co-development agreement signed by material subsidiary Mehru Electrical & Mechanical Engineers Pvt Ltd with Hyosung T&D India Pvt Ltd (press release 24.09.2025), enabling joint product development and market expansion.

Scale indicators14 records

Recent moves10 records

Expansion highlights5 records

Broad incumbents

• Hitachi Energy: Global leader in HVDC transmission, STATCOM, SVC, transformers, and grid integration solutions — directly comparable to Quality Power's high-voltage equipment portfolio and 800 kV HVDC reactor capability.
• Siemens Energy: Major provider of HVDC systems, FACTS (SVC/STATCOM), transformers, and grid technologies serving utilities and renewable developers — competes with Quality Power in the same global utility tender market.
• GE Vernova (Grid Solutions): Supplies HVDC, FACTS, transformers, and grid automation equipment globally — a direct competitor for large utility and renewable interconnection projects that overlap with Quality Power's offering.
• ABB India: Indian subsidiary of ABB offering transformers, STATCOM, SVC, and grid automation solutions — directly comparable in product portfolio across HVDC/FACTS, transformers, and power-quality equipment for Indian utilities.

Direct peers

• CG Power and Industrial Solutions: Indian manufacturer of transformers, reactors, switchgear and power-quality equipment serving utilities and industry — closely comparable in product mix, customer base (including Indian utilities), and India-centric manufacturing footprint.
• Bharat Heavy Electricals (BHEL): India's largest power equipment OEM producing transformers, reactors, and power-quality systems for utilities and industrial customers — directly comparable on India utility customer overlap and high-voltage equipment portfolio.
• TBEA: Chinese manufacturer of ultra-high-voltage transformers and HVDC reactors — directly comparable in 800 kV and above transformer/reactor technology targeting the same global utility customer base.
• Hyosung Heavy Industries (T&D): Korean transformer and switchgear manufacturer active in global utility tenders; Hyosung T&D India is also a co-development partner of Quality Power's Mehru subsidiary — a comparable competitor on transformer and T&D products.
• Transformers and Rectifiers (India): Indian manufacturer of power and distribution transformers, reactors, and rectifier-duty transformers — directly comparable in product range, India manufacturing base, and exposure to utility and renewable customers.

Regional players

• TD Power Systems: Indian manufacturer of AC generators and turbo-generators for power plants — comparable as a domestic Indian power equipment peer and frequently grouped with Quality Power in microcap and small-cap investor coverage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Quality Power