KRYFS Power Components

What KRYFS Power Components does

KRYFS Power Components Ltd. is an Indian privately-held manufacturer, founded in December 1992 by Saif F. Qureishi and his father F.B. Qureishi, that converts Cold Rolled Grain-Oriented (CRGO) electrical steel into transformer laminations and cores. Reported as India's largest and the world's second-largest player in this niche, KRYFS operates ten manufacturing facilities — at Kherdi (Dadra & Nagar Haveli), Savli (Gujarat), Palghar (Maharashtra), and Bhopal (Madhya Pradesh) — with an aggregate capacity exceeding 50,000 metric tonnes per annum and core capabilities spanning 11 KV through 765 KV class transformers. Its core technology includes step lap lamination (a process that reduces no-load losses by 6–8% and which KRYFS was first to introduce in India), amorphous core manufacturing, and capability to produce built-up/assembled cores and core-coil assemblies up to 50 MT with guaranteed no-load losses, all backed by in-house testing.

Beyond components, the company has built an integrated power-sector portfolio: finished distribution and medium-power transformers up to 10 MVA at 33 KV class; the largest in-house transformer tank manufacturing in India; Engineering, Procurement and Construction (EPC) services for power distribution projects; an IoT-enabled Distribution Transformer Monitoring System called BOLA; rooftop solar power generation under Power Purchase Agreements (PPAs) of approximately 3 MW; and ancillary product lines including material-handling equipment and stringing tools.

The business model is B2B direct sales to transformer OEMs (BHEL, Crompton Greaves, Bharat Bijlee, ABB, Emco, Kanohar, IMP Power, Rima Transformers), state electricity boards, government distribution schemes (DDUGVY, IPDS, Saubhagya), and industrial solar consumers — with an export channel reaching over 22 countries. KRYFS has been recognized as a Star Export House by the Engineering Export Promotion Council, awarded the Assocham Innovation Award for step lap lamination, and counts Toyota Tsusho Corporation (Japan) as a strategic investor. In August 2025, Zetwerk (a B2B manufacturing marketplace) acquired a controlling stake, integrating KRYFS's engineering and regulatory capabilities into a digital platform for the energy and electrification sector.

Name

KRYFS Power Components

Legal name

KRYFS Power Components Ltd.

Website

https://kryfs.com

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

KRYFS Power Components is India's largest manufacturer of CRGO transformer laminations and cores, operating ten plants with 50,000+ MT annual capacity and serving transformer OEMs (BHEL, Crompton Greaves, Bharat Bijlee, ABB), state electricity boards, and industrial solar customers across 22+ countries.

Ownership category

akta.pro rank

Product category

Transformer Components Manufacturing

NAICS

Power, Distribution, and Specialty Transformer Manufacturing (335311), Electric Power Transmission, Control, and Distribution (22112), Power and Communication Line and Related Structures Construction (237130)

SIC

Power, Distribution & Specialty Transformers (3612), Electronic Coils, Transformers & Other Inductors (3677)

akta.pro industry

PRIMARYEUAEADAC

Substation & Interconnection EPC (Collector/POI Substations, Switchyards)

Energy, Utilities & Environment/Energy Infrastructure & Services (EPC, O&M, Field Services)/Renewable Balance-of-Plant EPC (Wind/Solar/Hydro)

SECONDARYEUAEACAC

Distribution Substations & Switching Stations (MV) EPC

Energy, Utilities & Environment/Energy Infrastructure & Services (EPC, O&M, Field Services)/Distribution Grid EPC & Line Services (Medium/Low Voltage)

SECONDARYEUAEAFAB

Medium/Low-Voltage Power Distribution (MCCs, Panels, UPS, Grounding)

Energy, Utilities & Environment/Energy Infrastructure & Services (EPC, O&M, Field Services)/Mechanical, Electrical & Plumbing (MEP) for Energy Facilities

Keywords

• Transformer lamination manufacturing
• CRGO electrical steel cores
• Distribution transformer components
• Transformer tank fabrication
• Power distribution EPC services

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Transformer Component Manufacturing & Sales: Manufactures and sells transformer core laminations, core coil assemblies, assembled cores, toroidal cores, and unicores. Also manufactures distribution and medium power transformers up to 10 MVA, 33 KV class, transformer tanks, and lifting slings/material handling equipment. Primary revenue stream from B2B sales to transformer OEMs and utilities.
2. EPC Services: Engineering, Procurement & Construction services for power distribution projects across India in multiple states, providing end-to-end project delivery.
3. Solar Rooftop Power Generation: Provides green solar power to several industries through PPAs (Power Purchase Agreements) with private industries, approximately 3 MW on rooftops.
4. IoT Solutions (BOLA): IoT-based distribution transformer monitoring solutions sold to utilities and industrial customers for remote asset monitoring and predictive maintenance.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

KRYFS Power Components manufactures CRGO transformer laminations and assembled cores (up to 50 MT per core), power and distribution transformers up to 10 MVA / 33 KV class, and transformer tanks fabricated from rolling mills procured from China. The company also provides EPC services for power distribution lines, substations, and HV substations up to 765 KV, alongside rooftop solar PV solutions, amorphous cores, material handling equipment, and stringing tools. Its digital offering includes the BOLA IoT-based distribution transformer monitoring system.

Product overview

KRYFS Power Components is a diversified power sector company serving the entire energy value chain from generation (solar power) through transmission (EPC) to distribution (transformers, cores, tanks, and IoT monitoring). The company operates a multi-product portfolio centered on transformer core manufacturing (CRGO Lamination & Cores) as its core competency, with integrated downstream products including Transformers (up to 10 MVA, 33 KV class) and Transformer Tanks. The company has expanded into complementary verticals including EPC (Engineering Procurement Construction) for power distribution projects, Rooftop Solar installations with PPAs (~3 MW capacity), and BOLA - an IoT-based Distribution Transformer Monitoring System for real-time remote monitoring. Additional offerings include Amorphous Cores, Material Handling equipment, and Stringing Tools. The company operates ten manufacturing facilities across India with a capacity to convert 50,000 MT per annum of CRGO Electrical Steel into transformer laminations and cores.

Differentiator

Problem solved

Functional benefit

Products and services

• CRGO Lamination & Cores Manufactured transformer laminations and cores from CRGO electrical steel, supplied as direct input material to transformer OEMs and manufacturers. KRYFS produces windings, slit coils, and assembled cores up to 50 MT, including conventional butt-lap and step lap designs.
• Power & Distribution Transformers (up to 10 MVA / 33 KV class, up to 765 KV capability) Power and distribution transformers manufactured in-house up to 10 MVA / 33 KV class for SEBs, utilities, and industrial customers. Includes BEE-3 star rated transformer variants designed for lower losses and higher efficiency.
• Transformer Tanks Fabricated transformer tanks manufactured from imported rolling mills, supplied to transformer OEMs as a vertical-integration complement to KRYFS's CRGO laminations and cores business.
• EPC Services for Power Distribution and Substations Turnkey Engineering, Procurement and Construction services for 33/11 KV distribution substations, HT/LT power distribution networks, and HV/EHV substations and switchyards up to 765 KV. Provided to state electricity boards, PGCIL, utilities, and industrial customers.
• BOLA IoT-Based Distribution Transformer Monitoring System BOLA is an IoT-based distribution transformer monitoring solution providing real-time visibility into transformer health through IoT sensors that detect load, temperature, and fault conditions, with predictive alerts and remote condition monitoring for utility and industrial transformer fleets.
• Amorphous Cores Manufacturer of transformer cores built from amorphous metal ribbons, offering a high-efficiency, low-loss core option for distribution transformers targeting energy-efficiency mandates and lower no-load losses.
• Rooftop Solar PV Solutions Rooftop solar PV systems delivered via authorised channel partner networks to industrial and commercial customers seeking on-site solar generation to reduce grid and diesel costs.
• Material Handling Equipment Material handling equipment manufactured and supplied by KRYFS as part of its broader power-sector equipment portfolio.
• Stringing Tools Stringing tools supplied to power transmission and distribution construction crews and contractors.

Quantifiable outcome

• Reduces transformer no-load losses by 6 to 8% using step lap lamination technology
• +4 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

One partnership is on record.

• ZetwerkcoreStrategic or Co-development Partner · 12 August 2025Zetwerk, a B2B manufacturing services marketplace, acquired a controlling stake in KRYFS Power Components in August 2025. The acquisition enables Zetwerk to leverage KRYFS's engineering capabilities and regulatory approvals, and integrate its offerings into Zetwerk's digital platform. This positions KRYFS under Zetwerk's ownership for expanded market reach in energy and electrification sectors.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Siemens Energy: Global transformer OEM and grid technology provider with EHV/UHV capability. Competes with KRYFS in large transformers and T&D EPC, but at much larger scale and across a much broader energy portfolio.
• Toshiba Transmission & Distribution Systems: Global T&D equipment manufacturer including power and distribution transformers and amorphous core technology. Comparable to KRYFS on amorphous cores and transformer manufacturing but serves global markets at much higher scale.
• Schneider Electric: Global energy management and automation major offering distribution transformers, switchgear and grid software. Overlaps with KRYFS's distribution transformer and IoT monitoring offering but as part of a much broader portfolio.
• Hitachi Energy: Global leader in transformers, grid integration and T&D (formerly ABB Power Grids). Overlaps with KRYFS as a transformer customer/competitor and operates in HVDC/substation EPC, but at much larger scale and broader portfolio.

Direct peers

• Bharat Bijlee: Indian power transformer and elevator manufacturer and a named KRYFS customer; competes with KRYFS's finished distribution transformers while sourcing laminations from it.
• Transformers and Rectifiers (India) Ltd: Indian transformer manufacturer producing power and distribution transformers up to EHV class. Comparable to KRYFS's transformer and EPC business serving Indian utilities and industrial customers.
• Vijai Electricals: Indian manufacturer of power and distribution transformers with in-house CRGO lamination capability, directly competing with KRYFS across the lamination, transformer and EPC stack serving Indian utilities and OEMs.
• CG Power and Industrial Solutions: Indian transformer and power equipment major (formerly Crompton Greaves) — both a customer of KRYFS and a vertically integrated competitor in transformers, switchgear and T&D equipment.

Regional players

• JSG Holdings / JSG Transformer: Indian manufacturer of CRGO transformer cores and laminations. Closest direct competitor to KRYFS in the Indian lamination and core segment, serving similar Indian OEM customers.

Others

• Nippon Steel Corporation: Leading global producer of CRGO electrical steel — the primary raw material for KRYFS's lamination business. Not a competitor but a critical upstream supplier whose pricing and supply decisions materially affect KRYFS's economics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/kryfs
• LinkedInlinkedin.com/company/kryfs
• Xx.com/kryfsgroup

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about KRYFS Power Components