Transmission & grid capex
In focusCEA's March 2026 plan maps ~Rs 7.9 lakh crore of transmission spend to FY36 with HVDC rising to ~120 GW; 400 kV-plus transformers and reactors stay capacity-constrained. Q1 FY27 tenders slowed on raw-material inflation and HVDC packages slipped, so watch awards, not the pipeline.
Avg read 7.29 covered · scores as of Q2 FY27 · 1 provisional
CompanyQ · G · V · Read
- 1KSH International Limitedbest7.98.4—7.8
- 2Yash Highvoltage Limitedunofficial7.88.25.37.7
- 3Advait Energy Transitions Limited7.68.15.97.6
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- 4Bhagyanagar India Limited7.66.8—6.9
- 5Quality Power Electrical Equipments Limited7.96.71.86.6
- 6Transrail Lighting Limited6.96.45.96.6
- —Transformers and Rectifiers (India) Limitedbelow cut6.16.82.05.9
- —APAR Industries Limitedbelow cut6.35.90.65.4
- —Schneider Electric Infrastructure Limitedbelow cut5.45.30.64.8
Theme 05Since Q1 FY27
Transmission & grid capex
In focus
CEA's March 2026 plan maps ~Rs 7.9 lakh crore of transmission spend to FY36 with HVDC rising to ~120 GW; 400 kV-plus transformers and reactors stay capacity-constrained. Q1 FY27 tenders slowed on raw-material inflation and HVDC packages slipped, so watch awards, not the pipeline.
NEP transmission outlay
₹9.15 lakh cr
to 2032; RDSS ₹3.03 lakh cr
Peak power demand
270 GW
→ 400+ GW by 2030
Transformer order books
3-5 yrs
OEM capacity sold out
The board · every name on the leaderboard's four scores
9 coveredScores as of Q2 FY27 · 1 provisional
- 1KSH International LimitedBest readQ7.9G8.4V—Read7.8
- 2Yash Highvoltage LimitedUnofficialQ7.8G8.2V5.3Read7.7
- 3Advait Energy Transitions LimitedQ7.6G8.1V5.9Read7.6
Show 6 moreShow fewer
- 4Bhagyanagar India LimitedQ7.6G6.8V—Read6.9
- 5Quality Power Electrical Equipments LimitedQ7.9G6.7V1.8Read6.6
- 6Transrail Lighting LimitedQ6.9G6.4V5.9Read6.6
- —Transformers and Rectifiers (India) LimitedBelow cut6.1Neutral / Balanced6.8Solid2.0Expensive5.9Outlook-led—Transformers and Rectifiers (India) LimitedBelow cutQ6.1G6.8V2.0Read5.9
- —APAR Industries LimitedBelow cutQ6.3G5.9V0.6Read5.4
- —Schneider Electric Infrastructure LimitedBelow cut5.4Neutral / Balanced5.3Soft0.6Richly priced4.8Weak & rich—Schneider Electric Infrastructure LimitedBelow cutQ5.4G5.3V0.6Read4.8