What Mahati Electrics does

Mahati Electrics, legally Mahati Industries Pvt. Ltd., is a Pune-based, privately-held manufacturer and engineering contractor specializing in high-voltage power infrastructure. Founded in 1966 by Shri Udaybabu Shah and still controlled by the Shah family, the company operates a 15-acre integrated manufacturing facility at Yavat, Maharashtra with 10,000 MVA annual production capacity and an in-house NABL-accredited testing laboratory. Its product portfolio spans EHV power transformers (up to 400 kV and 500 MVA), distribution transformers, furnace transformers (up to 65 MVA), dry-type transformers (Cast Resin and Vacuum Impregnated), and series/shunt reactors (up to 220 kV). Complementing manufacturing, Mahati delivers turnkey EHV substations (GIS and AIS up to 400 kV), mobile substations, and EPC services including engineering, procurement, and commissioning for utility and industrial customers.

Mahati's revenue model combines one-time capital equipment sales, project-based EPC contracts, hydro power project development and O&M, recurring equipment rentals and mobile substation leasing, and professional services such as transformer remanufacturing and India's first on-site Mobile Vapour Phase Drying (MVPD) service. Customer segments include power utilities and grid operators (PGCIL, NHPC, Tehri HEP), hydroelectric developers, heavy industrial manufacturers (steel, metallurgical, cement, automotive), renewable energy developers, and strategic infrastructure sectors (railways, defence, oil and gas). Notable credentials include India's first 400 kV GIS project for Alstom at Koyna Stage-IV, over 10 GW of commissioned hydro capacity, and partnerships with Voith, Siemens Germany, BHEL, and Andritz. Pricing is quote-based and project-specific, with no public disclosure of unit economics; distribution is exclusively direct enterprise sales with factory-direct delivery, on-site installation, and lifecycle O&M support.

Name

Mahati Electrics

Legal name

Mahati Industries Pvt. Ltd.

Website

https://mahati.com

Company type

Private

Founded year

1966

Operating status

Operating

Headcount range

1–10 employees

Short description

Mahati Electrics is a Pune-based, family-owned manufacturer of high-voltage power transformers (up to 400 kV/500 MVA), EHV substations, and turnkey hydroelectric EPC solutions, serving utilities, heavy industry, hydro developers, and OEMs across India and select international markets.

Ownership category

akta.pro rank

Product category

Power Transformers and Electrical Equipment

NAICS

Power, Distribution, and Specialty Transformer Manufacturing (335311), Switchgear and Switchboard Apparatus Manufacturing (335313), Electric Power Generation, Transmission and Distribution (2211), Electronic and Precision Equipment Repair and Maintenance (811210)

SIC

Power, Distribution & Specialty Transformers (3612), Switchgear & Switchboard Apparatus (3613), Electronic Coils, Transformers & Other Inductors (3677)

akta.pro primary industry

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

akta.pro secondary industries

Substations, Transformers & Grid Step-Up Facilities (EHV Substations, GSU Transformers) (EUAMAFAE), High-Voltage Electrical Systems (Switchgear, Transformers, Protection & Control) (EUAEAFAA), Switchgear & Switchboards (HV/MV/LV, GIS/AIS) (IMAGAAAB), HVDC Converter Transformers, Reactors & Harmonic Filters (EUADAMAC)

Keywords

• Power transformers
• EHV substations
• Transformer manufacturing
• Hydro power projects
• Mobile substations

Headquarters

HQ city

Pune

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Power Transformer Manufacturing & Sales: Mahati manufactures and sells a full range of power, distribution, furnace, dry-type, and special-purpose transformers as well as reactors, generating revenue through one-time capital equipment sales to utilities, industries, and infrastructure developers.
2. EPC (Engineering, Procurement & Commissioning) Services: Turnkey substation, transmission network, and hydroelectric project execution covering end-to-end engineering, procurement, and commissioning services for large-scale infrastructure projects.
3. Hydro Power Projects – Investment & Development: Mahati invests in and develops hydroelectric projects, generating revenue through project development, water-to-wire solutions, and O&M contracts. Completed over 10 GW of hydro capacity.
4. Equipment Rentals & Leasing: Rental and leasing of power transformers (100 kVA to 50 MVA, up to 220 kV), water load banks (200–6000 kW), flux test sets, AC HV test kits, polymerisation equipment, and rectiformer sets on short-term and long-term bases.
5. Remanufacturing & Restoration Services: Comprehensive remanufacturing of large EHV transformers up to 500 MVA, including root cause analysis, redesign, insulation restoration, rewinding, tap changer overhaul, and performance optimisation, extending transformer operational life at a fraction of replacement cost.
6. Mobile Substation as a Service: Fully integrated mobile substations offered as a service on a leasing basis for utilities and industries, providing on-demand high-voltage power solutions for temporary grid support, emergency restoration, and remote applications.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Mahati Electrics manufactures high-voltage electrical equipment including EHV power transformers (up to 400 kV, 500 MVA), distribution transformers, furnace transformers, dry-type transformers, reactors, and special-purpose transformers. The company also delivers turnkey EHV substations (GIS and AIS), mobile substations, hydro power 'water-to-wire' solutions, transformer remanufacturing, and India's first on-site Mobile Vapour Phase Drying (MVPD) service for EHV transformer dry-out.

Product overview

Mahati Electrics is a power infrastructure company offering a comprehensive portfolio of high-voltage electrical equipment and services. The core product portfolio centers on transformers (EHV Power up to 400 kV/500 MVA, Distribution up to 5000 kVA, Furnace up to 65 MVA, Dry-Type up to 15 MVA, and Special Purpose transformers) and reactors (up to 220 kV). These are complemented by turnkey EHV substations (GIS and AIS up to 400 kV), Mobile Substations (e.g., 132/33kV, 40MVA), and India's first Mobile Vapour Phase Drying (MVPD) service for on-site transformer dry-out. The company also provides specialised testing equipment, complete hydro power project solutions (10 GW+ commissioned), transformer remanufacturing (up to 500 MVA), and rental/leasing services for transformers, load banks, and test equipment. The offerings form an integrated ecosystem covering power transformation, transmission, testing, maintenance, and lifecycle extension services.

Differentiator

Problem solved

Functional benefit

Products and services

• EHV Power Transformers

Quantifiable outcome

• Up to 50% faster transformer drying compared to conventional methods, minimising EHV transformer downtime.
• +4 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Voith GmbH & Co.coreStrategic or Co-development PartnerMahati Electrics and Voith GmbH & Co. collaborated on the 8x65MW Omkareshwar Hydro Electric Project, where Mahati executed the erection, testing, and commissioning of Voith Siemens Hydro Turbines, completing the project in a record 40 months. Voith is a major global hydro turbine manufacturer.
• Alstom (Grid)coreStrategic or Co-development PartnerMahati executed India's first 400 kV GIS substation project for Alstom at Koyna Stage-IV, marking a significant milestone in India's EHV infrastructure development. Alstom is a global leader in power and transport infrastructure.
• Siemens GermanycoreStrategic or Co-development PartnerMahati has partnered with Siemens Germany on hydroelectric project executions, including the Omkareshwar project with Voith Siemens Hydro Turbines. Siemens is a global leader in energy and automation technologies.
• BHEL (Bharat Heavy Electricals Limited)coreStrategic or Co-development PartnerTrusted hydro power project execution partner of Mahati. BHEL is India's largest power equipment manufacturer and a key player in India's energy infrastructure ecosystem.
• AndritzminorStrategic or Co-development PartnerAndritz is listed as a trusted partner in Mahati's hydro power project execution ecosystem. Andritz is a global hydro equipment manufacturer.
• FujiminorStrategic or Co-development PartnerFuji is listed as a trusted hydro power project partner of Mahati. Fuji is a Japanese industrial conglomerate involved in power equipment.
• Taiyo Nippon Sanso India Pvt LtdminorImplementation/ SI/ Consulting PartnerMahati executed a 132 kV GIS substation project for Taiyo Nippon Sanso India Pvt Ltd in Pune, India.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Transformers and Rectifiers (India) Limited: Listed Indian manufacturer of power and distribution transformers up to 1200 kV class including power, distribution, furnace and rectifier transformers. Closest head-to-head competitor to Mahati in the Indian EHV transformer market, with overlapping product portfolio and similar domestic EPC exposure.
• Bharat Bijlee Limited: Mumbai-headquartered Indian manufacturer of power transformers (up to 800 kV class) and a growing transformer services business. Directly comparable to Mahati in EHV transformer manufacturing, customer base (utilities and industrials), and offering of related services such as EPC and transformer retrofitting.
• Voltamp Transformers Limited: Oman-listed but India-focused manufacturer of power and distribution transformers up to 250 MVA and 220 kV class, serving utilities and industrial customers. Direct competitor to Mahati's transformer product line, with similar customer verticals (utilities, industrial users) and overlapping geographic reach.
• CG Power & Industrial Solutions Limited: Indian manufacturer (Murugappa Group) of power transformers (including EHV class) plus rotating machines and T&D equipment. Comparable to Mahati across transformer manufacturing, substation work, and industrial customer base, though operating at substantially larger scale and with a broader product portfolio.

Broad incumbents

• Bharat Heavy Electricals Limited (BHEL): India's largest state-linked power equipment manufacturer covering power transformers (including 400/765 kV class), hydro turbines, EPC of substations and turnkey power projects. Highly comparable to Mahati on hydro EPC and large transformer supply, but operates at vastly larger scale with a national bid footprint across all of Mahati's end-markets.
• Hitachi Energy India Limited: Indian arm of the global Hitachi Energy (formerly ABB Power Grids) T&D business, manufacturing transformers, GIS switchgear, and substation automation in India. Directly comparable to Mahati on EHV transformer manufacturing and 400 kV GIS substation solutions, but with multinational R&D, global supply chain, and a much broader product portfolio.
• Siemens Limited (India): Indian subsidiary of Siemens AG active in power transformers, switchgear, energy automation, and EPC of substations and large power projects. Comparable to Mahati on grid infrastructure solutions (transformers + GIS + automation) and as a co-development partner of Mahati on hydro projects such as Omkareshwar, but at materially larger scale and global brand.
• ABB India Limited: Indian arm of ABB offering power transformers, switchgear, drives, and grid automation products. Comparable to Mahati on industrial and utility transformer sales, switchgear integration, and substation offerings, but operating with global product platforms and a multi-vertical portfolio.
• Schneider Electric India: Indian operations of Schneider Electric covering switchgear, distribution transformers, substation automation, and energy management. Comparable to Mahati on the distribution-transformer and switchgear/switchboard segment, particularly in commercial/industrial customers, but with a much broader portfolio spanning LV and MV products.

Emerging players

• Kirloskar Electric Company Limited: Indian manufacturer of transformers, motors, generators, and other rotating electrical equipment serving utilities and industry. Comparable to Mahati on the industrial transformer / rotating machine side and on Indian-domestic customer overlap, though a smaller scale and more diversified across motor/transformer lines than Mahati's EHV focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/mahati

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 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 Mahati Electrics