What Shirdi Sai Electricals does

Shirdi Sai Electricals Limited (SSEL), founded in 1994 by N. Visweswara Reddy in Kadapa, Andhra Pradesh and now headquartered in Hyderabad, is a privately held Indian energy infrastructure company operating across transformer manufacturing, EPC services, conductors and alloys, and renewable energy generation. Its core business is the design, manufacture, and supply of distribution, power, and extra-high-voltage transformers ranging from 5 kVA to 500 MVA at up to 400 kV class, produced across three primary facilities (Kadapa with 12,000 MVA, Indo-Tech Chennai with 10,000 MVA, and the former GE T&D Naini facility with 17,000 MVA) for a combined 39,000 MVA annual capacity. The Kadapa facility is positioned as Asia's largest manufacturer of energy-efficient amorphous metal transformers, and the company holds granted patents on smart monitoring of three-phase distribution transformers and step lap joint core manufacturing.

SSEL makes money through three primary streams: direct hardware sales of transformers and solar PV modules (via the Indosol Solar subsidiary), EPC project execution covering rural electrification, substations up to 400 kV, and transmission lines, and renewable energy development including a portfolio exceeding 8 GW across pumped storage hydro, wind, and solar. Customers are predominantly Indian central and state government utilities and DISCOMs (Powergrid, NTPC, NHPC, APGENCO, and multiple state electricity boards), supplemented by a small set of enterprise customers (Greenko, Sterlite Power, Sankalp Steels), with exports spanning 40+ countries. The go-to-market is enterprise field sales through competitive tenders and direct B2B engagement, with quote-based pricing determined by transformer specifications, capacity, voltage class, and project scope. The company is expanding aggressively through the Proterial amorphous steel JV, Indosol Solar's planned FY27 IPO, and a SIPB-approved Rs 5,571 crore investment program, while remaining founder-controlled with no disclosed institutional external funding.

Name

Shirdi Sai Electricals

Legal name

Shirdi Sai Electricals Limited

Website

https://ssel.in

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Shirdi Sai Electricals is a privately held Hyderabad-based manufacturer of distribution, power, and EHV transformers (up to 500 MVA, 400 kV) with 39,000 MVA annual capacity, serving Indian government utilities, DISCOMs, and export markets across 40+ countries, alongside renewable energy and solar manufacturing operations.

Ownership category

akta.pro rank

Product category

Power Transformers

NAICS

Power, Distribution, and Specialty Transformer Manufacturing (335311), Solar Electric Power Generation (221114), Wind Electric Power Generation (221115), Electric Power Transmission, Control, and Distribution (22112)

SIC

Power, Distribution & Specialty Transformers (3612), Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

Transformers (Power, Distribution, Instrument, Specialty) (IMAGAAAA)

akta.pro secondary industries

PV Balance of System (BOS) & Electrical Infrastructure (Inverters, Transformers, Cabling, Substations) (EUACAGAC), Grid Interconnection & Collector Substation EPC (Utility-Scale Renewables) (EUAEABAK), Cables, Connectors & Electrical BOS Components Manufacturing (MV/HV, Subsea, Harnesses) (EUAMAHAK), Renewable Manufacturing Materials & Subcomponents (Glass, EVA/Backsheet, Composites, Magnets) (EUAMAHAL)

Keywords

• Power transformer manufacturing
• Distribution transformer supply
• EPC power infrastructure
• Solar PV modules
• Renewable energy projects

Headquarters

HQ city

Hyderabad

HQ country

India

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Transformer Manufacturing and Sales: Manufacturing and sale of power transformers, distribution transformers, and reactors ranging from 5 kVA to 500 MVA, up to 400 kV class. Revenue from domestic utilities, state electricity boards, and export markets across 40+ countries.
2. EPC Projects: Engineering, Procurement, and Construction services for rural electrification, substations, transmission lines up to 400 kV, and turnkey renewable energy projects. Revenue from project execution contracts with government and private entities.
3. Renewable Energy Development: Development of solar and wind energy projects including captive RE generation, with 2.5 GW wind capacity target and 4 GW solar parks under development. Revenue from project development, power generation, and module sales through Indosol Solar.
4. Solar Manufacturing: Vertically integrated solar PV module manufacturing through Indosol Solar, with capacity for polysilicon, ingot, wafer, cell, and module production. Plans for IPO in FY27 with Rs 69,000 crore capex investment.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Shirdi Sai Electricals manufactures power and distribution transformers (5 kVA to 500 MVA, up to 400 kV class) across facilities in Kadapa, Naini, and Chennai with 39,000 MVA total annual capacity. The company also produces vertically integrated solar PV modules (Indosol Solar), conductors and alloys (Shuchi Alloys), and executes EPC projects covering substations, transmission lines, rural electrification, hydro/pumped storage, and wind energy projects for utilities, DISCOMs, PSUs, and industrial customers in India and 40+ export markets.

Product overview

Shirdi Sai Electricals Limited (SSEL) is a diversified energy conglomerate with over 30 years of experience, offering a comprehensive portfolio of energy solutions. The core offerings include Transformers (manufacturing distribution, power, and EHV transformers up to 500 MVA/400 kV class across Kadapa, Naini, and Chennai facilities with 39,000 MVA total capacity), Renewable Energy (Indosol Solar for solar PV modules with 1 GW integrated capacity, wind energy development targeting 2.5 GW, and hydro/pumped storage projects exceeding 8 GW), EPC Services (rural electrification, substations up to 400 kV, and transmission lines), and Cables & Conductors (Shuchi Alloys). The company operates through subsidiaries including Indosol Solar, Shuchi Alloys, and Indo-Tech Transformers, with manufacturing facilities in Kadapa (Andhra Pradesh), Naini (Uttar Pradesh), Chennai (Tamil Nadu), Bengaluru (Karnataka), and Nellore (Andhra Pradesh).

Differentiator

Problem solved

Functional benefit

Brands

• Indosol Solar: Solar PV module manufacturing brand - vertically integrated giga-scale solar manufacturing facility
• Shuchi Alloys
• Indo-Tech Transformers
• SSEL Naini

Products and services

• Transformers (Distribution, Power, and EHV) Manufactured range of transformers spanning 5 kVA to 500 MVA and up to 400 kV class, including distribution transformers (single-phase and three-phase, CRGO and amorphous core variants up to 4000 kVA), medium power transformers (up to 25,000 kVA three-phase), special application transformers (inverter duty, wind turbine, earthing), and EHV power transformers and reactors. Produced for power utilities, state DISCOMs, PSUs, industrial customers, and export markets.
• Solar PV Modules (Indosol Solar) Vertically integrated giga-scale solar PV module manufacturing covering polysilicon, ingot, wafer, cell, and module production at the Nellore facility under the Indosol Solar brand. Targeted at utility-scale solar projects, module sales under PLI schemes, and captive renewable energy generation for SSEL's own projects.
• Conductors and Alloys (Shuchi Alloys & Conductors) Manufacturing of alloys and conductors for the power transmission and distribution sector under the Shuchi Alloys brand, providing precise solutions and raw material inputs for transformer manufacturing and the broader energy sector.
• EPC Projects (Substations, Transmission, Hydro, Wind, Turnkey Renewable) Engineering, Procurement, and Construction (EPC) services for power infrastructure including rural electrification, substations up to 400 kV, HVDS, HT and LT line installations, hydro and pumped storage projects (paidipalem, Somasila, Yerravaram), wind energy projects (2.5 GW capacity), and turnkey solar/wind hybrid renewable projects. Over 200 substations commissioned, 150+ under construction, 150,000+ km of HT/LT lines installed. Served government PSUs and private renewable developers including Greenko, Sterlite Power, and NHPC.

Quantifiable outcome

• Amorphous transformers reduce no-load losses by up to 70% compared to conventional transformers
• +3 more outcomes

Named customers12 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Seven partnerships are on record, tiered core, major, minor and strategic.

• Proterial (India)coreStrategic or Co-development Partner · 26 February 2026Partnership for establishing India's first amorphous electrical steel manufacturing facility at Sri City, Andhra Pradesh. Proterial is investing Rs 1,350 crore with SSEL as local partner. The facility will produce 30,000 tonnes of amorphous metal annually, creating over 500 jobs, under the PLI scheme for Specialty Steel. Operations scheduled to begin October 2026.
• NHPC LimitedmajorStrategic or Co-development Partner · 1 December 2023Joint development of 100 MW solar power project at N.P. Kunta in Andhra Pradesh. Project officially commenced with Bhoomi Puja in December 2023, marking a major step in SSEL's renewable energy expansion.
• Ekalavya FoundationminorOthers · 1 January 2022Implementation of Vidya Vahini and Vidya Vikasam educational programs through Ekalavya Foundation as part of CSR initiatives to support tribal student education.
• Viridis.iQ GmbH (Germany)majorStrategic or Co-development Partner · 1 December 2021MoU signed for setting up 4GW manufacturing unit for Polysilicon + Ingot-Wafer + Cell + Module as part of India's renewable energy manufacturing ecosystem. This partnership aims to establish vertically integrated solar manufacturing capacity.
• Royal SMITcoreTechnology or IntegrationTechnical collaboration for the design and manufacture of 400 kV Reactors. This partnership integrates European design proficiency with Indian manufacturing excellence at the Naini facility, enabling high-performance and energy-efficient reactor products.
• Synthesis Winding TechnologiesstrategicTechnology or IntegrationCollaboration focused on integrating AI-driven intelligence, digital factory solutions, and sustainable innovation in transformer manufacturing. Represents shared vision for setting new global benchmarks in transformer technology.
• CBWE (Central Board for Workers' Education)minorOthersPartnership for organic farming initiatives supporting farmers in adopting sustainable agricultural practices through hands-on training and establishment of farmer clubs.

Scale indicators11 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• KEC International: Indian EPC major specializing in power transmission lines, substations, and rural electrification — directly overlapping with SSEL's EPC Projects business serving state DISCOMs and central utilities.
• CG Power and Industrial Solutions: One of India's largest transformer manufacturers with a comparable portfolio of power, distribution, and EHV transformers serving Indian utilities and export markets. CG Power is a direct competitor across SSEL's core transformer business and EPC services.
• Transformers and Rectifiers (India): Indian transformer manufacturer producing power and distribution transformers up to EHV class with similar utility customer base. Closely comparable scale, product range, and domestic market focus to SSEL.
• Bharat Bijlee: Established Indian electrical equipment manufacturer with strong transformer and lift businesses, serving power utilities and industrial customers. Comparable transformer product range and customer base to SSEL.
• Waaree Energies: India's largest solar PV module manufacturer with vertically integrated operations. Directly comparable to SSEL's Indosol Solar subsidiary in capacity scale, PLI scheme participation, and India-focused solar manufacturing.
• Voltamp Transformers: Indian manufacturer of power and distribution transformers serving utilities, EPC contractors, and industrial customers. Comparable mid-cap scale and customer overlap with SSEL in the domestic transformer market.

Broad incumbents

• Hitachi Energy India: Major supplier of transformers, substations, and grid integration solutions to Indian utilities including Powergrid. Directly comparable EHV transformer capabilities and grid services to SSEL's Naini operations.
• ABB India: Multinational incumbent offering transformers, switchgear, and grid solutions across India. Competes with SSEL in EHV transformers and substation equipment but as part of a broader portfolio of power and automation products.
• Adani Energy Solutions: Large Indian power transmission, distribution, and renewable energy developer with significant substation and transmission line operations. Comparable in scale of T&D and renewable infrastructure ambitions to SSEL's 8+ GW portfolio.
• Siemens Energy India: Global energy equipment major with transformer manufacturing, grid technology, and EPC services in India. Overlaps with SSEL in power/EHV transformers and T&D infrastructure for utility customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@ssel9183
• Facebookfacebook.com/shirdisaielectricalsltd
• LinkedInin.linkedin.com/company/shirdisaielectricals

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries5 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 Shirdi Sai Electricals