SPEL Strengthens Power Sector Foothold with ₹34.18 Cr Orders

Supreme Power Equipment Limited (SPEL), a key player in the manufacturing of power and distribution transformers, has announced the acquisition of noteworthy orders totaling ₹34.18 Cr. These contracts, which SPEL received over a two-week period, emphasize the company's expanding influence in the Indian power sector, with significant new engagements in Telangana and existing traction in Karnataka.

The first order marks a milestone for SPEL with its inaugural entry into Telangana. Valued at approximately ₹19.82 Cr, this contract involves the supply of 20 MVA power transformers. This development signals an increasing demand for power infrastructure in Telangana, presenting growth prospects for SPEL. Additionally, SPEL continues to consolidate its position in Karnataka by securing further orders worth ₹4.34 Cr and ₹10.02 Cr from local EPC and power companies for new and repeat business.

The new contracts solidify SPEL's stature in the industry and demonstrate its expertise in fulfilling diverse transformer needs. With its standalone and consolidated order books valuing at ₹214.21 Cr and ₹230.44 Cr respectively, SPEL and its subsidiary, Danya Electric Company, are poised for sustained growth. Chairman and Managing Director, Mr. Vee Rajmohan, expressed optimism about SPEL's role in enhancing power infrastructure across India, highlighting their commitment to quality and timely execution.

(With inputs from agencies.)