Raksan Transformers Ltd IPO

Incorporated in July 1995, Raksan Transformers Limited is an ISO 9001:2015 certified manufacturer of transformers across different voltage ratings. The Company manufactures a diversified range of transformers, including distribution transformers, power transformers, transformers for solar applications and special purpose transformers, which are used across power generation, transmission and distribution networks, as well as various industrial and infrastructure projects. The Company initially focused on the repair and servicing of distribution and power transformers and subsequently commenced transformer manufacturing in 2005-06. It has since expanded its operations to two manufacturing facilities in Rai, Sonepat, Haryana.

As of March 31, 2026, the Company operates through two manufacturing units spread across approximately 2,025 sq. mtrs. and 1,012.5 sq. mtrs., with a combined installed production capacity of approximately 15,00,000 KVA for distribution transformers and 1,350 MVA for power transformers. The facilities are equipped with machinery for core cutting, coil winding, assembly, tank fabrication, oil filtration, welding and testing. The Company also has in-house facilities for core cutting/slitting, wire or strip drawing and tank fabrication, along with an in-house testing laboratory for conducting routine and type tests.

Raksan Transformers serves a diverse customer base comprising government entities, power distribution corporations, public sector undertakings, utility companies, EPC contractors and industrial clients. The Company is an approved vendor for more than 20 entities, including power distribution corporations, PSUs and public utility companies. Its manufacturing process incorporates quality control measures at various stages and uses key raw materials such as CRGO steel, copper and aluminium conductors, transformer oil, insulating materials and fabricated transformer tanks. Its group company, SHR Powers Private Limited, manufactures transformer tanks/bodies, supporting the Company's backward integration and supply chain efficiency.

The Company's products are manufactured in compliance with applicable Bureau of Indian Standards (BIS) requirements, and the Company is authorized to use the ISI mark on applicable products. Several products are also certified under the Bureau of Energy Efficiency (BEE) STAR rating programme. The Company focuses on designing transformers according to customer-specific requirements, including voltage, power, climatic conditions, system configuration and sound levels.

As of June 30, 2026, the Company had 143 full-time employees, including 113 employees in production, along with personnel across designing and quality control, finance, purchase and stores, sales and marketing, and HR and administration.

Competitive Strengths

• Strong order book.
• Experienced promoters and management team.
• Focus on quality assurance and regulatory compliance.
• Established manufacturing facilities and in-house operations.
• Track record of profitability and consistent financial performance.
• Backward integration supporting supply chain and cost efficiency
• Established relationships with government entities and power utilities.