What Meher Group does

Meher Group, legally MHM Holdings Private Limited, is a privately-held, family-owned Indian technology and manufacturing conglomerate headquartered in Bangalore, India, founded in 1977 as MEHER Capacitors. The group's operating model is a holding structure that owns wholly-owned subsidiaries, joint ventures with international technology partners, and two SEBI-licensed alternative investment funds, organized around three stated pillars: Engineer (manufacturing and technology businesses), Enhance (asset management and venture capital), and Empower (CSR).

The Engineer pillar produces film capacitor technology and metallised polymer dielectrics (Meher Advanced Materials), air core and iron core reactors and power inductors (Meher Mangoldt Inductors, JV with Germany's Mangoldt), hi-reliability power electronic capacitors under the IKEN brand (Kendeil IndFarad Electronics, JV with Italy's Kendeil), and EV chargers and power trains for light electric vehicles (iPEC India, JV with DEKI Electronics and South Korea's SungHo). The group has established manufacturing capacity of 12,000 MVAr/year for LV products and 3,000 MVAr/year for HV products across plants in India and Germany, and in 2009 divested the original Power Capacitor, Power Factor Correction, and Harmonic Filter business to Schneider Electric — a transaction that, under Schneider ownership, scaled the asset to a position of global leadership.

The Enhance pillar comprises Xenvis Solutions, an AR/VR enterprise solutions business serving manufacturing, construction, logistics, energy, education, healthcare, automotive, defense, and tourism, alongside XenReality Technology (Vision AI / computer vision for industrial, retail, and defense applications), Transition Venture Capital (a SEBI-licensed CAT II AIF investing in energy-transition deep-tech startups), and Asymmetric Asset Managers (a SEBI-licensed CAT III AIF investing in public markets). Customers are B2B enterprises reached through a combination of direct enterprise sales, JV partner distribution networks across Italy, Germany, South Korea, and Austria, and channel partnerships; pricing is not publicly disclosed and is quote-based. The Empower pillar is represented by Meher Care Foundation, which runs the group's CSR portfolio including scholarships, medical assistance, and skill development.

Name

Meher Group

Legal name

MHM Holdings Private Limited

Website

https://meher.com

Company type

Private

Founded year

1977

Operating status

Operating

Short description

Meher Group is a privately-held, family-owned Indian technology and manufacturing conglomerate that produces power components (film capacitors, inductors, reactors), EV charging solutions, AR/VR enterprise applications, and operates energy-transition venture capital funds through subsidiaries and joint ventures with Italian, German, South Korean, and Austrian partners.

Ownership category

akta.pro rank

Product category

Electrical Power Components and Power Electronics Manufacturing

NAICS

Capacitor, Resistor, Coil, Transformer, and Other Inductor Manufacturing (334416), Electrical Equipment Manufacturing (33531), Electrical Equipment, Appliance, and Component Manufacturing (335)

SIC

Electronic Components & Accessories (3670), Electronic Coils, Transformers & Other Inductors (3677), Electronic Components, Nec (3679)

akta.pro primary industry

EV/Industrial Charging Power Electronics (Chargers, rectifiers, power stages) (IMAGADAF)

akta.pro secondary industry

Energy Storage Components for Renewables Manufacturing (BESS Packs, PCS, Thermal Management) (EUAMAHAI)

Keywords

• Power capacitors
• Power inductors
• EV charging solutions
• Augmented reality solutions
• Vision AI

Headquarters

HQ city

Bangalore

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Manufacturing - Power Components & Materials: Manufacturing of power components, advanced metallised polymer dielectrics, power inductors, and power electronic capacitors through joint ventures (Meher Advanced Materials, Meher Mangoldt Inductors, Kendeil Indfarad Electronics).
2. Power Electronics & EV Solutions: Power electronic products including EV chargers, power trains for light electric vehicles, and smart power conversion products through iPEC India JV.
3. Digital Solutions (AR/VR & Vision AI): Augmented reality, virtual reality solutions and Vision AI-based computer vision solutions for enterprises through Xenvis Solutions and XenReality Technology.
4. Venture Capital Investments: Co-founding and investing through Transition Venture Capital (SEBI licensed CAT II AIF focused on energy transition deep tech) and Asymmetric Asset Managers (SEBI licensed CAT III AIF for public markets).

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Meher Group manufactures and sells power-quality and power-electronics components (LV/HV power capacitors, metallised polymer film dielectrics, air core and iron core reactors, power inductors, hi-reliability power electronic capacitors) and EV charging hardware and software through its joint ventures. It also offers enterprise AR/VR solutions (Xenvis) and Vision AI computer-vision automation, alongside venture capital and alternative asset management funds focused on energy transition and public markets. Customers are industrial enterprises, utilities, renewable-energy integrators, EV OEMs, and digital-transformation buyers across India, Germany, Italy, South Korea and global markets.

Product overview

Meher Group is a diversified technology conglomerate with a multi-business portfolio structured around three core pillars: Engineer (manufacturing and technology), Enhance (investment and venture capital), and Empower (social impact). The operating businesses include Meher Advanced Materials (film capacitor technology with metallised polymer dielectrics), Meher Mangoldt Inductors (air core and iron core reactors), Kendeil Indfarad Electronics (power electronic capacitors), IPEC India (EV chargers and power conversion solutions for E-Mobility), and Xenvis Solutions (augmented reality and virtual reality enterprise solutions). The investment portfolio includes XenReality Technology (Vision AI for computer vision), Transition Venture Capital (SEBI-licensed energy transition VC fund), Asymmetric Asset Managers (SEBI-licensed CAT III alternate investment fund), along with Exponent Energy and ChargeZone. The Group also operates Meher Care Foundation for CSR activities. The Group traces its origins to 1977 and is headquartered in Bangalore, India.

Differentiator

Problem solved

Functional benefit

Brands

• Transition Venture Capital: SEBI Licensed CAT II Alternate Investment Fund - India's first energy transition focused venture capital fund investing in deep tech startups
• Asymmetric Asset Managers
• IKEN
• Meher Care Foundation
• Meher Advanced Materials
• Meher Mangoldt Inductors
• IPEC
• Xenvis

Products and services

• Meher Advanced Materials (Film Capacitor Dielectrics) Thin-film advanced metallised polymer dielectrics and film capacitor technology for power systems, renewable energy and industrial applications; serves capacitor manufacturers and power-electronics OEMs.
• Meher Mangoldt Inductors (Power Inductors and Reactors)
• IKEN Brand Power Electronic Capacitors (Kendeil Indfarad Electronics)
• IPEC India (EV Chargers and Power Trains for Light EVs) Smart power conversion products, EV chargers (hardware + software) and powertrain solutions for light electric vehicles, targeting EV charging operators and light-EV OEMs.
• Xenvis Solutions (Enterprise AR/VR Solutions) Augmented reality and virtual reality enterprise solutions combining optical/display hardware, software platforms and support services for enterprises across manufacturing, construction, logistics, energy, education, healthcare, automotive, defence and tourism.
• XenReality Technology (Vision AI / Computer Vision Solutions) Vision AI and computer vision solutions for manufacturing quality inspection, retail analytics and defence surveillance, simplifying computer-vision deployment for industrial customers.
• Transition Venture Capital (Energy Transition VC Fund) SEBI-licensed CAT II Alternative Investment Fund investing in energy-transition deep-tech startups to accelerate distinct IP creation and economic value in the low-carbon journey.
• Asymmetric Asset Managers (Public Markets Alternative Investment Fund) SEBI-licensed CAT III Alternative Investment Fund focused on delivering asymmetric financial returns from public-markets investments in India and abroad.
• LV Power Capacitors and Automatic Power Factor Correction (APFC) Systems Meher's foundational manufactured products — LV power capacitors (paper/foil, metallised polypropylene, dry type) and Automatic Power Factor Correction (APFC) systems with analog and microprocessor controls — for power factor correction, harmonic filtering and reactive power compensation in industrial and utility customers.
• HV Power Capacitors, Harmonic Filter Systems and Dynamic Compensation Systems Meher's high-voltage capacitor banks (e.g., 60 MVAr for 400 kV substations), harmonic filter systems and dynamic compensation systems for HV substations, utilities and large industrial customers.

Quantifiable outcome

• Market leadership position in power quality products achieved by 2007-08
• +2 more outcomes

Segments7 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature6 records

Partnerships

Three partnerships are on record, tiered minor.

• Coil Innovation (Austria)minorChannel Partner/ Reseller/ DistributorMeher Mangoldt Inductors Pvt. Ltd. signed a Sales Agreement with Coil Innovation, Austria for distribution of Air Core Inductors used in Electrical Power Transmission & Distribution Systems.
• Schneider ElectricminorStrategic or Co-development PartnerIn 2009, Meher Group's Power Capacitor, Power Factor Correction and Harmonic Filter business was acquired by Schneider Electric. Since then, the business has scaled to a position of global leadership under Schneider Electric ownership.
• Larsen & Toubro LimitedminorChannel Partner/ Reseller/ DistributorMarketing agreement signed with Larsen & Toubro Limited for LV Standard Products as part of early business development partnerships during the restructuring phase in 1994-1997.

Scale indicators3 records

Recent moves16 records

Expansion highlights6 records

Market position

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/meher

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries8 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 Meher Group