Transformers and Rectifiers (India) Limited (TARIL) has informed that it has received an order valued at ₹53.33 crore from Power Grid Corporation of India Limited. The disclosure has been made in line with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The scope of the order includes repair, erection, testing and commissioning of a 397 MVA HVDC converter transformer along with related works. The contract has been awarded by a domestic entity, and the delivery of transformers is expected to take place in the next financial year. TARIL has clarified that the promoter group does not have any interest in the awarding entity, and the transaction does not fall under related-party arrangements.
This order relates to HVDC converter transformer equipment, and TARIL has stated that it is the first Indian-origin private-sector company to receive such a contract. The company noted that this development adds to India’s efforts toward strengthening domestic manufacturing capabilities for advanced power transmission equipment under the Make in India framework.
India’s HVDC transformer market has been expanding as the country increases investments in transmission infrastructure. The integration of renewable energy sources, including offshore wind targets set for 2030, requires transmission systems capable of moving power across long distances with reduced losses. HVDC technology has been adopted in several upcoming and ongoing transmission projects for this purpose.
Ongoing grid modernization programmes, such as the Green Energy Corridor and Smart Grid Mission, are also contributing to demand for HVDC systems aimed at improving grid stability and linking asynchronous networks. As per current transmission expansion plans, approximately 15,432 km of lines and around 32,250 MW of transfer capacity are expected to be added through new HVDC schemes between FY28 and FY32.
Cross-border projects with neighbouring countries, particularly Bangladesh and proposed interconnections with Sri Lanka, are creating additional opportunities for HVDC infrastructure. The sector is also observing a gradual shift toward voltage source converter (VSC)-based HVDC systems, which allow for improved power control and underground cabling options.
