Satya Mamtora, MD & CEO of Transformers and Rectifiers India, said the company expects to benefit from roughly Rs 30,000-35,000 crore of transformer-related spending under the PM Dhara/GEC3 scheme, with a hit ratio of…

Satya Mamtora, MD & CEO of Transformers and Rectifiers India, said the company expects to benefit from roughly Rs 30,000-35,000 crore of transformer-related spending under the PM Dhara/GEC3 scheme, with a hit ratio of 10-12%.

Mon 5 Oct 2026

Transformer spend under GEC3

30,000 to 32,000 crore rupees

Total transformer scheme size

30,000 to 35,000 crore rupees

Company win/hit ratio

10 to 12 percent

Expected opportunity for company

3,200 to 3,500 crore rupees

Heard on business television between 09:38:17 - 09:41:17 IST.

• Said around Rs 30,000-32,000 crore of the Rs 1.36 lakh crore GEC3 outlay will be spent on transformers, including battery energy storage systems
• Company's typical tender win ratio is 10-12%, implying an opportunity of about Rs 3,200-3,500 crore for the company
• Said the company is well placed across distribution, EHV, large power and IDT transformers for solar
• Flagged supply chain pressure as a risk, but said company is backward integrating by setting up own plants for CTC wire, pressboard and bushings to mitigate it
• Said state utility tenders are lowest-price based but rising manufacturing and supply chain costs limit margin pressure since all manufacturers are reasonably content with current order levels

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