Atlanta Electricals, a leading Indian manufacturer of high-capacity power transformers, has secured two significant orders from Gujarat Energy Transmission Corporation (GETCO), aggregating to INR 297.71 crore. The announcement was made on 26 November 2025 through filings with NSE and BSE under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements.
The new orders encompass the supply of 25 transformers, including 21 units of 220/66 KV, 160 MVA power transformers, three units of 66/11.55 KV, 20 MVA power transformers, and one 220/132 KV, 150 MVA auto transformer. These projects underscore Atlanta Electricals’ technical proficiency and reaffirm its reputation as a trusted partner in India’s power infrastructure ecosystem.
Reinforcing Market Leadership and Operational Strength
The GETCO contracts represent a continuation of Atlanta Electricals’ robust order inflow, adding to its existing execution pipeline. According to recent industry reports, the company’s unexecuted order book stood at INR 2,069 crore as of 30 September 2025, supported by an annual manufacturing capacity of 63,060 MVA across five facilities — four in Gujarat and one in Karnataka.
This win aligns with India’s broader grid modernization drive and highlights GETCO’s initiative to enhance transmission efficiency across Gujarat. Analysts suggest that such state-led infrastructure expansions are catalyzing operational momentum for transformer manufacturers, positioning Atlanta Electricals advantageously in the market.
Atlanta Electricals Management Commentary
Commenting on the development, Mr. Niral Patel, Chairman and Managing Director of Atlanta Electricals, stated:
“Securing these orders from Gujarat Energy Transmission Corporation is a testament to our dedication to quality and customer trust. We remain focused on advancing power infrastructure nationwide through our innovative transformer solutions.”
This statement echoes the company’s consistent emphasis on quality, reliability, and long-term client relationships, factors that have contributed to its growing prominence in India’s power equipment industry over the past three decades.
Atlanta Electricals Post-IPO Performance and Financial
Atlanta Electricals launched its IPO on 22 September 2025 with an issue size of INR 687.34 crore. The IPO was a fresh Issue and OFS. The IPO was subscribed 70.59X and delivered a 9.20% return on the listing day. The Post-IPO performance was also stellar, and shares of Atlanta Electricals made an all-time high of INR 1,079.9 per share, reflecting a ~43% return from the IPO allotment price of INR 754 per share. Currently, it is trading around INR 959 per share (a correction of ~11%).
Financially, the company reported Q2 FY26 revenue of INR 317 crore, marking a 17.4% year-on-year increase from INR 270 crore, with a profit of INR 30 crore, up 11.1% YoY. The firm maintains a Return on Equity (ROE) of 40.8% and a Return on Capital Employed (ROCE) of 50.2%, supported by a conservative debt-to-equity ratio of 0.46.
About Atlanta Electricals
Established over 30 years ago, Atlanta Electricals designs, manufactures, and supplies a diverse range of transformers, spanning from 5 MVA/11 kV to 500 MVA/765 kV. Its product portfolio includes auto, inverter duty, furnace, generator, and special-duty transformers, catering to both state and private utilities across India. As of 31 March 2025, the company had supplied 4,400 transformers, aggregating to 94,000 MVA of installed capacity nationwide.
Headquartered in Anand, Gujarat, the company continues to position itself as a key player in India’s evolving energy infrastructure landscape, committed to engineering excellence, sustainability, and innovation.
Industry Outlook
India’s transformer market is witnessing accelerated growth, driven by increasing demand for grid stability, renewable energy integration, and state-level capacity augmentation. Projects such as GETCO’s modernization program are central to this momentum. Atlanta Electricals’ recent order win exemplifies its competitive edge and technical capability to serve these emerging needs.
With the domestic transformer industry poised for expansion under the government’s infrastructure push, Atlanta Electricals’ strategic wins from utilities like GETCO not only fortify its order book but also reaffirm its role as a cornerstone in India’s power transformation journey.
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