Alfa Transformers Ltd

Market Cap: ₹ 75 Cr

About the company:
Alfa Transformers, founded in 1982 as a start-up unit, has evolved into a significant player in the manufacturing of transformers, particularly in the small to medium range. The company specializes in producing Electrical Distribution and power Transformers, spanning from 10KVA, 12KV Class to Transformers of 10 MVA, 36 KV Class. Over the years, Alfa Transformers has become a major supplier to utilities, multinationals, and domestic corporations.

The company's commitment to quality is evident through its ISO 9001 certification since 1997, which has strengthened its position in the international market. The state-of-the-art facilities at Alfa Transformers contribute to meeting and maintaining high production standards. With a global outreach, the company has successfully exported its products to various countries, including Nepal, Bangladesh, Dubai, Nigeria, and Suriname.

The foundation of Alfa Transformers lies in a team of qualified engineers and technical experts dedicated to designing and developing high-quality transformers. The company's operational philosophy revolves around integrity, reliability, commitment, trust, and delivering excellence, which collectively contribute to the creation of perfect transformers.

The leadership of Alfa Transformers is in the hands of directors Dillip Kumar Das, Deepak Kumar Das, S.K. Nanda, N.C. Pal, and Sambit Mohanty. Their guidance has played a crucial role in the company's growth and success.

Alfa Transformers started with an equity of Rs 21 lakh to manufacture transformers up to 1600 KVA. Over time, the company has upgraded its manufacturing capacity to 10000 KVA, 36KV Class. Despite limited capacity in 1992, the company undertook a significant project involving the redesign and retrofitting of a 62.5 MVA transformer belonging to Indian Charge Chrome, Choudwar, showcasing its innovation and adaptability.

The impressive client list of Alfa Transformers includes prominent entities such as Orissa State Electricity Board, Bihar State Electricity Board, Maharashtra State Electricity Board, Punjab State Electricity Board, Rajasthan State Electricity Board, West Bengal State Electricity Board, Department of Atomic Energy, Bhaba Atomic Research Centre, Larsen & Turbo, Kirloskar Brothers, Siemens, Crompton Greaves, SAIL, Dubai Electricity & Water Authority, Dubai, Bhairawa Lumbini Ground Water Project, Nepal, Bangladesh Power Development Board, Dhaka, Bangladesh, and National Electricity & Power Authority, Abuja, Nigeria.

The company's commitment to quality is further validated by its ISO 9001 accreditation by NQAQSR, New Delhi, since September 1997. The quality management system encompasses the "Design, Manufacture, and Sale of Distribution & Power Transformers ranging from Small Pole Mounted Distribution Transformers of 10KVA, 12KV Class to Power Transformers of 10MVA, 36KV Class." This accreditation reflects Alfa Transformers' dedication to maintaining high standards across all aspects of its operations.

Business Overview:
Alfa, a prominent transformer manufacturing company in Orissa, has embarked on a promising venture into Project Exports and consultancy, anticipating substantial growth in the years ahead. With a solid financial foundation and proven project execution capabilities, the company is strategically positioned to capitalize on the evolving dynamics of the globalized business environment. The ongoing restructuring of the domestic power sector and the government's sustained focus on power reforms present significant opportunities for expansion in the domestic market. Having successfully exported to various countries, including Dubai, Nepal, Bangladesh, Nigeria, the UK, and Suriname, Alfa's global footprint is expanding. Notably, the continued supply to GECOL in Libya is a testament to its international competitiveness. The company's proactive approach to adapting to the liberalized economic environment, coupled with its globally competitive cost positions and sound business strategies, instills confidence in its ability to navigate market competition and deliver impressive results in the foreseeable future. As Alfa charts its course in this new line of business, maintaining a keen eye on market trends and fostering strong client relationships will be pivotal for sustained success on the global stage.

Product Overview:

Single Phase: Wound core type transformers
A single-phase wound core type transformer is a type of transformer that is designed for single-phase electrical power distribution systems. Transformers are essential components in power systems, responsible for transferring electrical energy between different voltage levels. The wound core type refers to the construction of the transformer's core.
Here are some key features and characteristics of single-phase wound core type transformers:
Core Construction:
The core of the transformer is made of laminated iron or steel sheets. These laminations minimize eddy current losses and improve the overall efficiency of the transformer.
The winding around the core consists of two coils – primary and secondary. The primary winding is connected to the source of electrical power, while the secondary winding is connected to the load.
Winding Configuration:
The winding can be either concentric or sandwiched. In the concentric winding, one coil is wound over the other. In the sandwiched winding, the primary and secondary windings are placed side by side.
The windings are usually made of copper or aluminum conductors.
Applications:
Single-phase wound core type transformers are commonly used in residential and small commercial applications where single-phase power is sufficient.
They are suitable for applications where the power demand is not very high, and three-phase power distribution is not necessary.
Voltage Transformation:
The primary winding is connected to the power supply and receives electrical energy at a certain voltage.
The secondary winding delivers electrical energy to the load at a different voltage level. The turns ratio between the primary and secondary windings determines the voltage transformation ratio.
Advantages:
Simplicity: Single-phase transformers are simpler in construction compared to three-phase transformers.
Cost-effectiveness: They are generally more cost-effective for low power applications.
Disadvantages:
Limited power capacity: Single-phase transformers are typically used for lower power applications. For higher power requirements, three-phase transformers are more common.
Less efficient for large-scale power distribution: In larger power distribution systems, three-phase transformers are preferred for their efficiency and balanced power transfer.

Three Phase: Distributional transformers

Three-phase distribution transformers are key components in electrical power systems used to distribute electrical energy efficiently and safely. These transformers play a crucial role in stepping down high voltage levels from the transmission system to lower voltage levels suitable for distribution to homes, businesses, and industrial facilities.
Here are some key features and characteristics of three-phase distribution transformers:
Three-Phase Power:
These transformers are designed to handle three-phase electrical power, which is a common configuration in power distribution systems. Three-phase power is more efficient for transmitting large amounts of electrical energy over long distances.
Core and Windings:
Similar to single-phase transformers, three-phase distribution transformers have a laminated iron or steel core to reduce eddy current losses and improve efficiency.
The windings consist of three separate coils, each associated with one phase of the electrical system – A, B, and C phases.
Voltage Transformation:
The primary winding is connected to the high-voltage side of the electrical system, typically receiving power from a substation.
The secondary winding is connected to the lower-voltage side, delivering power to the distribution network.
Application in Power Distribution:
Three-phase distribution transformers are commonly used in power distribution substations to step down voltage levels from the transmission system (high voltage) to the distribution system (medium or low voltage).
They are employed in urban and industrial areas where the demand for electrical power is substantial.
Power Capacity:
These transformers are available in a range of power capacities to meet the diverse needs of distribution systems. The power capacity is usually measured in kilovolt-amperes (kVA).
Efficiency and Regulation:
Three-phase distribution transformers are designed to be highly efficient, minimizing energy losses during the voltage transformation process.
Voltage regulation is an important consideration, ensuring that the output voltage remains relatively constant under varying load conditions.
Cooling Systems:
To dissipate heat generated during operation, distribution transformers are equipped with cooling systems such as oil cooling or forced air cooling.
Mounting Options:
Distribution transformers can be pole-mounted or pad-mounted, depending on the specific application and space requirements.
Overload Protection:
Overload protection devices, such as relays or circuit breakers, may be integrated into the transformer to protect against excessive current flow.

Three-phase distribution transformers are essential for the reliable and efficient distribution of electrical power in industrial, commercial, and residential areas. They contribute to maintaining a stable and controlled power supply within the specified voltage limits for end-users.

Power Transformers: up to 15 MVA, 36 KV
A power transformer with a rating of up to 15 MVA (MegaVolt-Amperes) and a voltage level of 36 kV (kiloVolts) falls into the category of medium-power transformers. These transformers are commonly used in various applications, including industrial settings, power distribution networks, and some commercial installations.
Here are some key characteristics and considerations for transformers in this range:
Power Rating (MVA):
The transformer is rated for a maximum apparent power (volt-amperes) output of up to 15 MVA. This indicates its capacity to handle a certain amount of electrical power.
Voltage Level (36 kV):
The transformer has a rated voltage of 36 kV. This could be on the high-voltage side (primary) or the low-voltage side (secondary), depending on the specific application.
Core and Windings:
The core is typically constructed with laminated iron or steel sheets to minimize eddy current losses and enhance efficiency.
The winding configuration includes both high-voltage and low-voltage windings. The turns ratio between these windings determines the voltage transformation ratio.
Applications:
Transformers in this range are commonly used in medium-sized industrial facilities, substations, and power distribution networks.
They may also be employed in commercial buildings or large-scale infrastructure projects.
Cooling Systems:
Depending on the size and application, power transformers may use various cooling methods. Common cooling methods include oil-immersed transformers with natural or forced oil circulation.
Insulation:
Transformers are designed with appropriate insulation systems to withstand the electrical stresses and ensure the reliability of the unit.
Efficiency:
Power transformers are designed to be highly efficient, with minimal losses during the conversion and transmission of electrical power.
Regulation:
Voltage regulation is an important factor in power transformers. It ensures that the output voltage remains within specified limits, especially under varying load conditions.
Protection Devices:
Transformers are equipped with protective devices such as Buchholz relays, temperature sensors, and overcurrent protection to safeguard against faults and overloads.
Mounting Options:
Depending on the application and space availability, transformers can be designed for different mounting options, including pad-mounted or pole-mounted configurations.
Standards and Compliance:
Power transformers are manufactured according to international standards and regulations to ensure their safety, reliability, and interoperability with the power grid.
Transformers with a capacity of up to 15 MVA and a voltage rating of 36 kV are versatile and find applications in various sectors of the power industry, contributing to the efficient and reliable distribution of electrical energy.

Stabilized output transformers
The term "stabilized output transformers" typically refers to transformers that are designed to provide a stable and regulated output voltage under varying load conditions or input voltage fluctuations. These transformers are commonly used in power supply systems where maintaining a constant and stable output voltage is critical for the proper operation of connected electronic devices.
Here are some key points related to stabilized output transformers:
Voltage Regulation:
Stabilized output transformers are equipped with features to regulate the output voltage, ensuring that it remains within specified limits even when the input voltage or load changes.
Applications:
These transformers are often used in power supply units for electronic devices, including audio amplifiers, laboratory equipment, and other applications where a stable power source is essential.
Load Variation:
Stabilized output transformers can handle variations in the connected load without significant fluctuations in the output voltage. This is crucial for maintaining consistent power to sensitive equipment.
Voltage Stabilizers:
Some transformers designed for stabilizing output voltage may be integrated with voltage stabilizer circuits. These circuits actively adjust the transformer's output to compensate for changes in the input voltage or load.
Feedback Control:
Stabilized output transformers may incorporate feedback control mechanisms to continuously monitor the output voltage and make adjustments as needed to maintain stability.
Precision and Accuracy:
These transformers are designed with a high level of precision to ensure accurate voltage regulation. This precision is particularly important in applications where precise and stable voltage levels are critical.
Protection Features:
Some stabilized output transformers include protective features such as overcurrent protection and overvoltage protection to safeguard connected equipment from potential damage.
Efficiency:
Efficiency is an important consideration in the design of stabilized output transformers. They aim to minimize energy losses and heat dissipation while providing a stable output.
Transformer Type:
Stabilized output transformers can be designed using various transformer types, such as toroidal transformers or laminated core transformers. The choice of transformer type depends on factors like size, efficiency, and application requirements.
Customization:
Depending on the specific application, stabilized output transformers may be customized to meet certain voltage and current requirements. Customization can also include specific features tailored to the application's needs.
It's important to note that the term "stabilized output transformers" might be used in different contexts, and the specific design and features can vary based on the intended application and requirements. These transformers play a crucial role in providing a reliable and regulated power source for sensitive electronic equipment.

Low Loss energy-efficient transformers
Low-loss, energy-efficient transformers are designed to minimize energy losses during the conversion and transmission of electrical power. Reducing losses is important for improving overall energy efficiency, lowering operational costs, and minimizing environmental impact.
Here are some key features and considerations associated with low-loss, energy-efficient transformers:
Core Design:
Transformers with low losses often use advanced core materials and design techniques to reduce both hysteresis losses (losses due to magnetization and demagnetization of the core) and eddy current losses.
Core Materials:
High-grade silicon steel or amorphous metal alloys are commonly used as core materials in low-loss transformers. These materials exhibit lower magnetic losses compared to traditional materials.
Laminated Core:
The transformer core is typically made up of laminated sheets to minimize eddy current losses. Laminations reduce the circular currents that can occur in the core material, improving overall efficiency.
Coil Design and Materials:
High-conductivity materials, such as copper or aluminum, are used for transformer windings to reduce resistive losses. The winding design also plays a role in minimizing losses.
Efficiency Standards:
Low-loss transformers are designed and tested to comply with efficiency standards and regulations set by organizations such as the International Electrotechnical Commission (IEC) or the Institute of Electrical and Electronics Engineers (IEEE).
Amorphous Metal Transformers:
Transformers with cores made from amorphous metal alloys are known for their low losses. Amorphous metal has unique magnetic properties that contribute to reduced core losses.
No-Load Losses:
No-load losses, which occur when a transformer is energized but not supplying any load, are a significant focus for improving efficiency. Low-loss transformers are designed to minimize no-load losses.
Load Losses:
Load losses occur when the transformer is supplying power to a load. Efficient transformers are designed to have lower load losses, contributing to overall energy savings.
Temperature Rise:
Efficient transformers are designed to operate at lower temperatures, reducing losses associated with heat dissipation. Lower temperature rise also contributes to longer transformer life.
Cooling Systems:
Cooling systems, such as oil or air cooling, are designed to maintain optimal operating temperatures and enhance efficiency by dissipating excess heat.
Lifecycle Cost Considerations:
While the initial cost of low-loss transformers might be higher, the long-term savings in energy costs often make them more economical over the transformer's operational life.
Environmental Impact:
Energy-efficient transformers contribute to a reduction in greenhouse gas emissions and help meet environmental sustainability goals.
Using low-loss, energy-efficient transformers is a crucial strategy in promoting sustainability and reducing energy consumption in electrical power systems. These transformers are integral to achieving energy efficiency targets and improving the overall performance of power distribution networks.

Transformers for Induction Furnace Duty
Transformers used for induction furnace duty are specialized transformers designed to meet the unique requirements of induction furnace applications. Induction furnaces are commonly used in the metallurgical industry for melting metals, and they operate based on the principle of electromagnetic induction. The transformers used in this context must withstand the high currents, rapid load fluctuations, and challenging operating conditions associated with induction furnace operations.
Here are some key features and considerations for transformers designed for induction furnace duty:
High Currents:
Induction furnaces often require high currents for efficient metal melting. Transformers for induction furnace duty are designed to handle these high current levels without excessive losses or overheating.
High Power Factor:
Power factor is an important consideration in induction furnace applications. Transformers are designed to provide a high power factor to improve the efficiency of power transfer.
Low Voltage and High Current:
Induction furnaces typically operate at low voltages but with high currents. Transformers for this duty are designed to step down the voltage to the furnace's operational level while accommodating the high current requirements.
Robust Construction:
The transformers are constructed with robust materials and insulation systems to withstand the harsh operating conditions, including high temperatures and rapid temperature changes.
Short Time Overload Capacity:
Induction furnace duty transformers are often designed with short time overload capacity to handle intermittent high loads during the melting process without causing damage to the transformer.
Duty Cycle:
Induction furnace transformers are built to handle the intermittent duty cycle characteristic of induction furnace operations. They can accommodate rapid load changes and short-circuit conditions that may occur during the melting process.
Cooling Systems:
Cooling systems, such as oil cooling, are employed to dissipate the heat generated during high-current operations. Efficient cooling is crucial to maintaining the transformer's temperature within acceptable limits.
Low Flux Density:
Transformers for induction furnace duty are designed with lower flux density to reduce core losses and improve overall efficiency.
Protection Mechanisms:
These transformers are equipped with specialized protection mechanisms, including overcurrent protection and temperature monitoring, to ensure safe and reliable operation.
High Efficiency:
Energy efficiency is an important consideration. Transformers are designed to minimize losses and optimize energy transfer during the induction melting process.
Noise Reduction:
Transformers for induction furnace duty may incorporate features to minimize noise levels, ensuring a quieter operating environment.
Compliance with Standards:
Transformers for induction furnace duty are designed and manufactured in accordance with relevant industry standards to ensure safety, reliability, and compliance.
It's important to note that the design and specifications of transformers for induction furnace duty can vary based on the specific requirements of the furnace and the type of metals being melted. These transformers play a critical role in ensuring the efficiency and reliability of induction furnace operations in the metallurgical industry.

Transformers for ARC and submerged arc furnace duty
Transformers for arc and submerged arc furnace duty are specialized transformers designed to meet the unique requirements of electric arc furnace (EAF) and submerged arc furnace (SAF) applications in the metallurgical industry. These transformers must withstand the severe operating conditions, high temperatures, and rapid load fluctuations associated with these types of furnaces.
Here are some key features and considerations for transformers designed for arc and submerged arc furnace duty:
High Power and Current Ratings:
Arc and submerged arc furnaces typically require transformers with high power ratings to supply the intense heat needed for metal melting. These transformers are designed to handle high currents associated with these processes.
Low Voltage and High Current:
The transformers step down the high voltage from the power grid to the low voltage required for the furnace, while accommodating the high current demands of the arc or submerged arc process.
High Short-Time Overload Capacity:
These transformers are often designed with a high short-time overload capacity to handle the intermittent high loads during the melting process without causing damage.
Duty Cycle Considerations:
Arc and submerged arc furnaces operate on an intermittent duty cycle with frequent starts and stops. Transformers are designed to handle rapid load changes and short-circuit conditions that occur during the furnace operation.
Robust Construction:
The transformers are constructed with robust materials and insulation systems to withstand the harsh operating conditions, including high temperatures, rapid temperature changes, and exposure to dust and contaminants.
Cooling Systems:
Efficient cooling systems, such as oil or water cooling, are employed to dissipate the heat generated during high-current operations. Cooling is crucial to maintaining the transformer's temperature within acceptable limits.
High Efficiency:
Transformers for arc and submerged arc furnace duty are designed for high efficiency to optimize energy transfer during the melting process.
Protection Mechanisms:
These transformers are equipped with specialized protection mechanisms, including overcurrent protection, overtemperature protection, and differential protection, to ensure safe and reliable operation.
Reduced Flux Density:
Transformers may be designed with lower flux density to minimize core losses and improve overall efficiency.
Noise Reduction:
Noise levels can be a concern in industrial environments. Transformers may incorporate features to minimize noise, such as using low-noise core designs or additional sound insulation.


Compliance with Standards:
Transformers for arc and submerged arc furnace duty are designed and manufactured in accordance with relevant industry standards to ensure safety, reliability, and compliance.
Transformers for arc and submerged arc furnace duty are critical components in the metallurgical industry, providing the necessary power for the melting and refining of metals. Their design is tailored to the specific demands and challenges posed by these industrial processes.

Step Lap CRGO Lamination
Step-lap CRGO (Cold-Rolled Grain-Oriented) lamination is a specific configuration used in the construction of transformer cores. CRGO steel is a type of electrical steel that is designed to have low core losses and high magnetic permeability, making it ideal for transformer cores. The step-lap configuration refers to the way the laminations are stacked to form the core.
Here are the key features and aspects of step-lap CRGO lamination:
Lamination Construction:
CRGO laminations are thin sheets of electrical steel stacked together to form the transformer core. The step-lap construction involves overlapping the ends of adjacent laminations in a step-like manner.
Reduced Core Losses:
The step-lap design helps to reduce core losses in the transformer. Core losses are mainly due to hysteresis and eddy current losses in the core material, and the step-lap construction minimizes the magnetic flux leakage and eddy current losses.
Improved Magnetic Circuit:
The step-lap configuration improves the magnetic circuit by reducing the length of the flux path and minimizing the air gap between laminations. This results in better magnetic coupling and overall improved transformer efficiency.
Enhanced Mechanical Strength:
The overlapping of laminations in a step-lap arrangement provides better mechanical strength to the core structure. This is important for maintaining the structural integrity of the transformer, especially during high levels of magnetic flux and mechanical stresses.
Mitigation of Magnetostriction:
Magnetostriction is a phenomenon where the magnetic properties of the core material cause it to undergo mechanical deformation. Step-lap construction can help mitigate magnetostriction and reduce the associated mechanical noise.
Reduced Noise and Vibration:
The step-lap design contributes to reducing noise and vibration during the transformer's operation, providing quieter and more stable performance.
Precision in Core Assembly:
Achieving precision in the assembly of the core is crucial for the effectiveness of step-lap laminations. The manufacturing process must ensure accurate alignment and tight tolerances to maintain the benefits of the step-lap configuration.
Standardization and Design Considerations:
The step-lap construction is often standardized based on industry practices and design considerations. Transformer designers take into account factors such as core size, desired performance, and manufacturing capabilities.
Loss Reduction at Joints:
The step-lap joint areas are carefully designed to minimize losses and improve efficiency, particularly at the corners where laminations overlap.
Core Building Process:
The step-lap CRGO laminations are stacked and then tightly bound or clamped together to form the core. The assembly process involves careful attention to ensure proper alignment and prevent any gaps that could compromise the magnetic circuit.

Amorphous Metal Alloy Core Laminations.
Amorphous metal alloy core laminations refer to the use of amorphous metal alloys in the construction of transformer cores. Amorphous metals, also known as metallic glasses, are a unique class of materials with a disordered atomic structure, unlike the crystalline structure found in traditional metals. These amorphous alloys offer several advantages when used in transformer cores.
Here are key features and considerations:
Material Composition:
Amorphous metal alloys typically consist of a combination of elements such as iron, nickel, cobalt, boron, and other elements. The specific composition can vary, and it is tailored to achieve desired magnetic properties.
Low Core Losses:
One of the primary advantages of using amorphous metal alloys in transformer cores is their extremely low core losses. Amorphous metals exhibit significantly lower hysteresis and eddy current losses compared to traditional crystalline materials like silicon steel (CRGO).
Improved Energy Efficiency:
Transformers with amorphous metal alloy core laminations are more energy-efficient due to reduced core losses. This can contribute to energy savings, especially in applications with continuous operation.
Reduced Eddy Current Losses:
The disordered atomic structure of amorphous metals inhibits the formation of eddy currents, leading to lower eddy current losses in transformer cores. This is particularly beneficial in high-frequency applications.
High Magnetic Permeability:
Amorphous metal alloys can exhibit high magnetic permeability, allowing for effective magnetization and demagnetization during each AC cycle, leading to efficient energy transfer in the transformer.
Narrow Hysteresis Loop:
The hysteresis loop of amorphous metals is narrower than that of traditional materials, indicating minimal energy dissipation during the magnetic reversal cycles.
Lower Operating Temperatures:
Amorphous metal alloy transformers operate at lower temperatures compared to transformers with traditional cores. This can contribute to longer equipment life and improved reliability.
Thinner Laminations:
Amorphous metal alloy core laminations are typically thinner than their silicon steel counterparts. Thinner laminations contribute to reduced eddy current losses and improved overall transformer efficiency.
Amorphous Metal Core Transformers:
Transformers with amorphous metal alloy core laminations are often referred to as amorphous metal core transformers. These transformers are designed for various applications where energy efficiency is a key consideration.
Applications:
Amorphous metal core transformers find applications in distribution transformers, power transformers, and other systems where energy efficiency, reduced losses, and improved environmental sustainability are priorities.
Cost Considerations:
While amorphous metal alloys offer superior energy efficiency, transformers with amorphous metal cores can be more expensive to manufacture than those using traditional materials. The cost-effectiveness is often considered over the transformer's operational life.
Amorphous metal alloy core laminations have gained popularity in the electrical power industry due to their remarkable energy efficiency and low losses. The adoption of these materials aligns with the broader industry trend toward creating more environmentally friendly and sustainable power distribution systems.

COMPLETED PROJECT
1. Setting up facilities for the manufacture of Power & Distribution Transformers in Bangladesh, Dhaka.
2. Setting up facilities for the manufacture & repair of Distribution Transformers at GECOL, Tripoli.
3. Shifting the existing Transformer manufacturing factory to a new location at Tripoli.

CLIENTS

Domestic Client
State Electricity Boards:
1. Orissa State Electricity Board
2. Bihar State Electricity Board
3. Maharashtra State Electricity Board
4. Punjab State Electricity Board
5. Govt. of Manipur, Electricity Department
6. M.P. Electricity Board, Jabalpur
7. Rajasthan State Electricity Board
8. West Bengal State Electricity Board

Government Departments:
9. Department of Atomic Energy
10. Bhabha Atomic Research Centre

Coal Companies:
11. Central Coalfields Ltd
12. Mahanadi Coalfields Ltd

Engineering and Construction Companies:
13. Larsen & Toubro Ltd
14. Kirloskar Electricals Ltd
15. Siemens Ltd
16. Crompton Greaves Ltd

Steel and Metal Industries:
17. Steel Authority of India Ltd
18. Indian Metal & Ferro Alloys Ltd
19. Tata Iron and Steel Company Ltd
20. National Aluminium Company Ltd
21. Vendanta Aluminium Limited
22. Nilachal Ispat Nigam Limited

Miscellaneous:
23. North Eastern Electric Power Corporation Ltd., Shillong
24. Tata Projects Ltd

International Client

1. Dubai, UAE:
- Dubai Electricity & Water Authority
- Ministry of Electricity & Water

2. Nepal:
- Nepal Electricity Authority
- Achham Hydro Power Project
- Bhairawa Lumbini Ground Water Project

3. Bangladesh:
- Bangladesh Power Development Board, Dhaka
- Rural Electrification Board, Dhaka
- Dhaka Electric Supply Company Ltd.

4. Nigeria:
- National Primary Education Commission, Abuja
- National Electricity & Power Authority, Abuja

5. Suriname:
- N.V. Energie Bedrijven Suriname

6. Egypt:
- Areva T&D

7. Libya:
- General Electricity Company of Libya, Tripoli

Opportunities:
Market Sentiments: The company is experiencing gradual improvements in market sentiments, with positive signs in terms of inquiries and order finalization. This indicates a potential for growth in the power generation sector.

R&D Investment: The profitability of the company could lead to investments in research and development (R&D) for the development and prototype testing of transformers for solar and wind power. These sectors are identified as having significant potential with less competition, which can enhance margins and profitability.

Mining Sector: The company is equipped to cater to the specialized transformer requirements of the mining sector, which started operations in the last financial year. This presents an additional market opportunity.
Threats:
Dual Authority: Challenges in the distribution transformer business are highlighted, particularly related to mandatory certification by the Bureau of Indian Standards (BIS) and Minimum Energy Performance Standards (MEPS) through the BEE star Program. The dual certification and different specifications have resulted in confusion and financial burdens.

Warranty Demands: Discoms are demanding longer warranty periods (3 to 5 years) compared to the usual 12 to 18 months. This has led to increased bank guarantee requirements and repair costs during the extended guarantee period, creating financial challenges.

Maintenance Issues: Lack of maintenance schedules for transformers after installation is causing failures, and demands for longer guarantees are adding a burden to the industry. The industry is facing difficulties in obtaining orders due to insufficient bank guarantee limits.
Industry Challenges: Factors such as the addition of manufacturing capacity, increased input costs, and the need for working capital are expected to impact the financial performance of the industry negatively.

Plant Upgradation: The Bhubaneswar plant, established in 1987, needs a holistic approach for equipment refurbishment and shed repair. This may require term loans in the near future.
MANUFACTURING PROCESS
Established in 1988 in Bhubaneswar, ALFA TRANSFORMERS LIMITED initially began its operations as a manufacturer of Distribution transformers. Over the years, the company expanded its product portfolio, progressing from 12 KV Class to 36 KV Class transformers. A significant milestone was achieved in 1992 and 1993 when the company successfully developed prototypes of high-capacity transformers, including 3.15 MVA, 4 MVA, and 5 MVA transformers. These prototypes underwent rigorous testing, passing short circuit tests at the Central Power Research Institute in Bhopal/Bangalore and Impulse Tests at the Indian Institute of Technology in Kharagpur and subsequently at Anna University in Madras. This commitment to stringent testing and continuous research and development highlights ALFA TRANSFORMERS LIMITED's dedication to delivering high-quality and reliable transformers that meet or exceed industry standards.
TYPE TESTING
Type tests have been conducted at reputable institutions such as Central Power Research Institute, Bhopal/Bangalore, ERDA, Vadodara, Anna University, Chennai, and IIT, Kharagpur.
Short circuit tests and impulse tests have been carried out on transformers.
Factory Divisions:
Core Cutting Section: Importing electrical grade steel from reputed manufacturers and planning to install CNC equipment for producing step-lap and wound cores.
Coil Winding Section: Equipped with strip winding and wire winding machines, planning to import a CNC foil winding machine.
Insulation & Fabrication Section: Importing insulating papers from Japan, Germany, and Sweden, and using quality materials like epoxy-dotted papers and pre-compressed transformer boards.
Assembly Section: Includes shot blasting, phosphating, and powder coating arrangements. Efforts are being made to improve powder coating to international standards.
Fabrication & Painting Section: Similar to the Assembly section, with a focus on improving powder coating arrangements.
Materials Used:
Importing electrical grade steel from reputable manufacturers like Nippon Steel/Kawasaki, Japan.
Using various grades of electrical steel, from cold-rolled grain-oriented sheets of M5 grade to HIV grade and laser-scribed materials.
Importing insulating papers from Japan, Germany, and Sweden from manufacturers like Toimo Corporation, Japan, Weidmann, Germany.
Testing/Inspection:
The factory is equipped to conduct Routine Tests as per international specifications.
Type Tests, including Short Circuit Tests and Impulse Voltage Withstand Tests, have been conducted. A list of these tests is available.
Future Plans:
Planning to install CNC equipment for core production and a CNC foil winding machine for coil winding.
Endeavoring to improve powder coating arrangements to meet international standards.

COMPLETED PROJECT

Setting up facilities for the manufacture of Power and Distribution Transformers at Bangladesh, Dhaka:
Objective: Establishing manufacturing facilities for both power and distribution transformers in Dhaka, Bangladesh.
Scope: This likely involved tasks such as site selection, facility design, equipment procurement, installation, and commissioning.
Impact: Enhancing the local capacity for transformer production, potentially contributing to the energy infrastructure development in Bangladesh.

Setting up facilities for the manufacture and repair of Distribution Transformers at GECOL, Tripoli:
Objective: Establishing facilities for the production and repair of distribution transformers at GECOL (General Electricity Company of Libya) in Tripoli.
Scope: This project may have included similar tasks to the first one, with a focus on distribution transformers. Repair capabilities suggest a comprehensive facility that not only manufactures but also maintains and repairs transformers.
Impact: Strengthening the electricity infrastructure in Tripoli and potentially improving the maintenance and sustainability of distribution transformers in the region.

Shifting of existing Transformer manufacturing factory to a new location at Tripoli:
Objective: Relocating an existing transformer manufacturing factory to a new location in Tripoli.
Scope: This project would involve careful planning to dismantle, transport, and reassemble the manufacturing facility at the new location. It might also include upgrades or expansions during the relocation process.
Impact: Streamlining operations, potentially improving efficiency, and adapting to changing needs or circumstances in Tripoli.

BOARD OF DIRECTORS OF ALFA TRANSFORMERS LTD

Dilip Kumar Das [Chairman cum Managing Director]
Education: Mr. Dillip Kumar Das graduated in Electrical Engineering from the University College of Engineering, Burla, Sambalpur.
Professional Memberships:
Member of IEEE, USA.
Member of the Institute of Standard Engineers.
Fellow of the Institute of Engineers India.
Life member of the Indian Council of Management Executives, Mumbai.
Professional Background:
Graduated in 1969.
Worked under the Government of Orissa as an Assistant Engineer until August 1973.
Resigned from the government position to start his own proprietorship business for the manufacture and repair of distribution transformers.
Entrepreneurship:
Mr. Dillip Kumar Das is the promoter and Managing Director of his company since 1982.
The company is involved in the manufacture and repair of distribution transformers.
Experience:
Mr. Das has accumulated 45 years of rich experience in manufacturing and repairing transformers.
Responsibilities:
Responsible for overall technical and commercial activities.
In charge of designing, production planning, marketing, import, export, etc.

Mr Debasis Das [Whole Time Director]
Education:
Graduate from Utkal University.
Holds an M.B.A. (Master of Business Administration) from X.I.M.B. (Xavier Institute of Management, Bhubaneswar).
Career Start:
Began his career as an Assistant Manager (Marketing) in the company.
Contributions:
Through his sincere and dedicated efforts, the company experienced an increase in sales in the domestic market.

Industry Overview:
The India Power & Distribution Transformer Market demonstrated significant strength in 2023, reaching a valuation of USD 4.02 billion, and it is poised for robust growth with a projected Compound Annual Growth Rate (CAGR) of 9.86% through 2029. This positive trajectory is attributed to a pressing need for the replacement of aging transformers experiencing efficiency decline. Utilities and industries in India have identified the urgency of upgrading to newer, more energy-efficient transformer models, making this a top priority. The surge in demand for power and distribution transformers is intricately linked to the broader objective of modernizing the country's power infrastructure and enhancing energy efficiency. As global trends continue to emphasize sustainable and efficient energy systems, the growth in this sector aligns with the broader industry shift towards greener and more advanced technological solutions. Investors and stakeholders are well-advised to closely monitor these developments as the market evolves, potentially driving technological innovations and shaping the future landscape of the power and distribution transformer industry in India.

Transformer Industry in India
The Indian transformer industry is more than five decades old, hence mature. Domestic manufacturers have developed capabilities to manufacture all types of equipment to meet the country’s demand for transformers up to 800 Kilovolts (kV) and going up to 1,200 kV. The industry enjoys a good reputation in terms of quality, price, and delivery in the domestic as well as overseas markets.

India’s transformer market is predominantly unorganized with many small participants catering to the smaller distribution transformer markets. However, many are slowly graduating to the medium-sized category, thus expanding the organized participants’ base.
There are approximately 300+ transformer companies in India, with an overall installed capacity of over 370,000 Megavolt Amperes, (MVA) per annum. The market is fragmented with 20 organized players including Bharat Heavy Electricals Limited (BHEL), ABB Ltd, Crompton Greaves Ltd (CGL), Areva T&D, EMCO Ltd, Bharat Bijlee Ltd (BBL), Vijai Electricals, Transformers and Rectifiers India Limited (TRIL), Voltamp Transformers Ltd, among others.

In the power transformers category, companies in the high-end segment (400 kV and above) mainly include international players such as ABB Ltd, Alstom T&D (erstwhile Areva T&D India), and Siemens; and Indian manufacturers such as BHEL, CGL, TRIL, and Toshiba Transmission & Distribution Systems India (Entity formed by acquisition of Vijai Electricals by Toshiba Corporation, Japan). Majority of other companies in this sector are present in the 220 kV segment in power and distribution transformers. Leading players have significant presence in both power and distribution transformer market.

Apart from catering to domestic demand, India exports transformers to over 100 nations including the US, Europe, Malaysia, Singapore, Bangladesh, African countries, and Gulf countries. India is also an importer of transformers; the major source countries include China, Germany, USA, Korea, and Japan.

Indian Transformer Market Size
The Transformer market in India can be pegged at more than INR 12,000 Crores. Power Transformers contribute 45 percent of the total market and distribution transformers, 55 percent. Over the last two years, the market has grown at a very moderate rate at less than 4 percent, due to the slowdown of power generation capacity addition and T&D infrastructure expansion.

Anticipating the huge domestic (due to a power deficit scenario, requirement of power sector expansion) and overseas demand, the transformer industry in India has more than doubled its manufacturing capacity over the last five years. Transformer manufacturing capacity in India stands at ~370 GVA with capacity utilization rates hovering around 60-70 percent on an average over the last 5 years. Transformer over-capacity in the Indian market has led to immense pricing pressure scenario severely impacting the profitability of the market players.

New Entrants
India’s huge power shortage, need to ramp up power T&D infrastructure, economic slowdown of developed markets like Europe and North America and excess transformer manufacturing capacity in China has resulted in India being an attractive destination for transformer companies globally to tap the Indian market opportunity. Anticipating this, many foreign players are already in the process of setting up base in India. Over the last 18-30 months, new players have entered the market either through acquisitions or through setting up of facilities within India. A few notable examples are:

Canadian company, Hammond Power Solutions Inc. had acquired 70 percent equity stake in the Hyderabad based transformer supplier Pan-Electro Technic Enterprises Pvt. Ltd in Feb’ 2012
Chinese manufacturer, TBEA has set up transformer manufacturing unit in Gujarat in order to qualify for the bids from PGCIL.

Market Drivers
Power Generation Capacity augmentation and Power T&D infrastructure expansion to be in-line with Power generation capacity addition. According to the 12th plan, INR 1200K-1300K Crores likely to be invested in the power sector. This spending on the power sector is expected to be equally distributed between generation and T&D. Spending on Power T&D infrastructure is expected to boost demand for transformers

Rajiv Gandhi Grameen Vidyutikaran Yojna (RGGVY) scheme to improve rural electricity infrastructure and rural household electrification. The electrification drive is expected to provide impetus to demand for distribution transformers
Increasing focus on Rural Electrification Accelerated Power Development and Reform Program (APDRP 1-2) in order to minimize Aggregate Technical and Commercial (AT&C) losses at the distribution level and improve the financial health of the State Electricity Boards (SEBs)
Industrial sector growth
Replacement of ageing equipment
These reforms are expected to significantly affect demand for transformers over the next 4 to 5 years.

Market Challenges

Inadequate supply of prime quality Cold Rolled Grain Oriented (CRGO) steel is the biggest challenge faced by transformer manufacturers in the country. CRGO requirement is completely met through imports; it is in fact challenging to assess the true quality of the material that is used by the transformer manufacturers in India. India needs 2.5 lakh tons of CRGO every year and an appalling 70 percent of this is scrap grade material

Failure rate of Transformers – High failure rate of distribution transformers, is a big concern for the transformer industry in India. The average operational life of a transformer is between 25 to 30 years; however, transformers are known to be recalled for repair in as early as three years. The failure rate of distribution transformers in India is estimated at 10-15 percent (in stark contrast to the less than 2 percent failure rate in developing countries). This is due to the low entry barriers in the distribution transformer market leading to unorganized players entering the market, and competing on the price factor. SEBs historically follow a L1 vendor selection criteria, which has led to proliferation of many small players, that compromise on the quality of transformers manufactured

Financial Condition of SEBs – SEBs have been facing losses due to the supply of subsidized power to agricultural farmers, theft of power, and inefficient T&D infrastructure. This has restricted private investment in the power T&D sector, thereby reducing the quality of service from SEBs. This, in turn, is affecting the capacity building program and transmission of power
Lack of testing facilities – The growth in testing infrastructure has not kept pace with that of production, both, quantitatively and qualitatively. Testing infrastructure available at India’s premier agency, the Central Power Research Institute (CPRI) is proving short of demand.

K.P Energy Ltd.

MCap : ₹ 787 Cr.

10Yrs Sales CAGR : 83%

10Yrs PAT CAGR : 90%

10Yrs ROE : 29% 2.

Hariom Pipe Industries Ltd

Market Cap: ₹ 1,571 Cr

5Yrs Sales CAGR : 44%

5Yrs PAT CAGR : 48%

ABOUT THE COMPANY

Hariom Pipe Industries is an integrated manufacturer of Mild Steel (MS) Pipes, Scaffolding, HR Strips, MS Billets, and Sponge Iron. It uses iron ore to produce… https://t.co/eDOPVaN9fTtwitter.com/i/web/status/1…






better profitability (operating margin of 11.0-13.4% in the past two fiscals) compared with other steel players. The savings in power cost because of the installed solar capacity and the new furnace will enhance operating efficiency in the years ahead.

•Strategic location of… twitter.com/i/web/status/1…

HBL Power Systems Ltd.

MCap : ₹ 4,215 Cr.

HBL Power Systems is the pioneer in the design, development and manufacture of specialized batteries and DC systems in India. It has more than 30 years of experience in the field of specialized batteries and DC power systems. https://t.co/M5v4K42w7ytwitter.com/i/web/status/1…
The company is the result of a merger between Hyderabad Batteries (1977) and SABNIFE Power Systems (1986). The company has its headquarters in Hyderabad, India with factories and sales offices in various parts of the country. HBL also has offices, distributors and agents all over

ICE Make Refrigeration Ltd.

Mcap : ₹ 601 Cr.

5Yrs Sales CAGR : 25%

5Yrs PAT CAGR : 26%

Ice Make Refrigeration is engaged in the business of providing customized cooling solutions like Cold Rooms, Freezers, Commercial & Industrial Refrigeration Systems, Chilling Plants, etc. twitter.com/i/web/status/1… INVESTMENT THESIS :

~ Completion of Big Projects
~ Business Expansion
~ CAPEX and New Products
~ Promoters’ experience in the refrigeration equipment industry
~ Established and diversified clientele along with diversified product portfolio

Som Distilleries & Breweries Ltd.

Mcap : ₹ 1,928 Cr.

5Yrs Sales CAGR : 18%

5Yrs PAT CAGR : 19%

Som Distilleries and Breweries, incorporated on March 26, 1993, is engaged in manufacturing beer and Indian made foreign liquor. The co owns brands such as Hunter Extra Strong https://t.co/DyMgI1r5QZtwitter.com/i/web/status/1…
Premium Beer, Legend Premium Beer and Legend Premium Lager Beer. It has manufacturing facilities in Bhopal, where it has brewing, storing and layering facilities. The company’s manufacturing facilities are spread over 20 acres in the Raisen district of Madhya Pradesh

Ugro Capital Ltd.

Mcap : ₹ 2,155 Cr.

5Yrs Sales CAGR : 185%

5Yrs PAT CAGR : 68%

UGRO Capital was incorporated as Chokhani Securities in 1993 & subsequently listed on the BSE in 1995. Shachindra Nath, the Executive Chairman & Managing Director, acquired the Co in July 2018, https://t.co/8ilECxBOV6twitter.com/i/web/status/1…
& the co was subsequently renamed and recapitalized as UGRO Capital Limited.

The co is a Data Tech Lending platform which solves the small business credit gap in India with the help of its formidable distribution reach and Data-tech approach. The co is backed by marquee Private

Avantel Ltd.

Mcap : ₹ 1,124 Cr.

5Yrs Sales CAGR : 24%

5Yrs PAT CAGR : 36%

Avantel, incorporated in 1990 offers telecom products and software solutions. Co's development center located at Hyderabad, India is networked with the right tools, technologies & equipment to create twitter.com/i/web/status/1… value for global clients.

Its R&D center comprises a 40 member team of engineers which is recognized by the Department of Scientific and Industrial Research (DSIR), Government of India, as a research and development center for technology development in telecommunications.

R Systems International Ltd.

Mcap : ₹ 4,781 Cr.

5Yrs Sales CAGR : 21%

5Yrs PAT CAGR : 44%

R Systems was founded by Satinder Singh Rekhi in 1993. It is a software product development and BPO services company. It helps companies bring products and services to market quicker by twitter.com/i/web/status/1… using its proprietary suite execution framework. Customers can choose services specific to their needs from R Systems iPLM suite of services. R Systems' rapidly growing list of customers include a variety of Fortune 1000, government and mid-sized organizations across a wide range

Patel Engineering Ltd.

Mcap : ₹ 2,282 Cr.

3Yrs Sales CAGR : 17%

3Yrs PAT CAGR : 343%

Co is 1 of the oldest players in the civil engineering & const segment. The co executes civil construction for Govt & private players. Over the yrs, it has executed various types of road & twitter.com/i/web/status/1… highway construction projects along with civil works like dams, tunnels, irrigation projects, refineries, hydroelectric projects, water treatment projects & so on. As on date, the co has completed construction of around 84 dams, 40 hydroelectric projects & 33 tunneling projects

Va Tech Wabag Ltd.

Market Cap: ₹ 2,866 Cr.

WABAG is a global leader in the water industry backed by rich experience spanning over 99 years. Being a pure-play water technology multinational, WABAG offers a complete range of technologies and services for Total Water Solutions in twitter.com/i/web/status/1… both Municipal and Industrial sectors. With over 1,600 water professionals, spread over 25 countries in 4 continents, WABAG is touching millions of lives every day.

WABAG has built over 1,400 municipal and industrial plants in various geographies across the globe over the last

Linc Ltd Analysis !!
#Linc

A detailed Thread below 🪡🧵
#StockMarket #Investing About -

Linc was established in 1976 by Mr. Surajmal Jalan & is now headed by Mr. Deepak Jalan, Managing Director.

Co is engaged in the manufacturing of Writing instruments & other stationery items.

Sealmatic India Ltd Analysis !!
#Sealmatic

A detailed Thread below 🪡🧵
#StockMarket #Investing About -

Incorporated in 2009, Sealmatic is engaged in the business of designing & manufacturing mechanical seals & associated products mainly for the oil & gas, refinery, petrochemical, chemical, pharmaceutical, fertiliser, mining, pulp & paper, aerospace & many more.

Technocraft Industries India Ltd Analysis !!
#TIIL

A detailed Thread below 🪡🧵
#StockMarket #Investing About -

Technocraft was established in 1972 by two brothers Mr. S.K. Saraf & Mr. S.M. Saraf. The brothers who are IIT Graduates & Technologists, had started with the aim of mfg high precision & sophisticated Drum Closures Products.

Titagarh Wagons Analysis !!
#TWL

A detailed Thread below 🪡🧵
#StockMarket #Investing About -

Titagarh Wagons Limited, incorporated in 1997, started out with an annual production capacity of 180 wagons.

In 2015, Titagarh acquired a 90% stake in Italian🇮🇹 rail equipment firm Firema Trasporti for an estimated €25 Mill.
Titagarh Firema designs metro rail coaches.

Pricol Analysis !!
#Pricol

A detailed Thread below 🪡🧵
#StockMarket #Investing About -

Pricol is one of India's leading automotive components & precision engineered products manufacturers head quartered in Coimbatore.

Newgen Software Tech.

Mcap : ₹ 3230 Cr.

10Yrs Sales CAGR : 18%

10Yrs PAT CAGR : 27%

10Yrs ROE : 20%

Co is engaged in the business of software product development including designing & delivering end-to-end software solution covering the entire spectrum of software services from workflow automation to Document management to imaging.

Co receives recurring fees/charges from :

- SaaS: subscription fees for licenses in relation to platform deployed on cloud; on-premise subscription.

- ATS/AMC: charges for annual technical support & maintenance

Syrma SGS Technology Ltd.

Mcap: ₹ 4868 Cr.

Co provides integrated services and solutions to original equipment manufacturers (OEMs) from the initial product concept stage to volume production through concept co-creation & product realization. Co is tech focused engineering & design co engaged in turnkey electronics manufacturing services (“EMS”), specializing in precision manufacturing for diverse end use industries. They are leaders in high-mix low volume product management & are present in most industrial verticals.

Vaibhav Global Ltd (VGL)

Mcap: ₹ 5385 Cr.

10Yrs ROE: 26%

Co has created a niche for itself in the global retail space, especially in the jewellery, accessories & lifestyle product segments of 2 of the largest economies of the world, the US & UK. Co owns Shop LC for USA, Shop TJC for UK & ShopLC for Germany which are 24 hour live shopping channels. It also owns proprietary web platforms tjc.co.uk , shoplc.com & shoplc.de & has launched app of its retail platforms on smartphones.

Greaves Cotton Analysis !!
#GreavesCotton

A detailed Thread below 🪡🧵
#StockMarket #Investing About -

Greaves is one of the leading diversified engineering companies with presence in Automotive, Non-Automotive, Aftermarket, Retail , Electric mobility solutions & Finance. The Company has a unique positioning in the last-mile mobility ecosystem.

Praj Industries Analysis !!
#PrajIndustries

A detailed Thread below 🪡🧵
#StockMarket #Investing About -

Praj Industries was incorporated in 1983 by Dr. Pramod Chaudhuri.
Praj is one of the most reputed & technologically advanced biotech & engineering companies in the world. Co has 1000+ customer references in 100+ countries across 5 continent.