Indo Tech Shares Slump 4% as Renew Wind Cancels Order 

Shares of Indo Tech Transformers Ltd slumped 4% on 12 March after the company announced that Renew Wind Energy (JAMB) had cancelled an order for the provision of six transformers due to project delays.
 
The cancelled deal was for the provision of 6 220 kV – 165 MVA transformers. Indo Tech stated that the total order value was Rs 64.99 crore, including taxes. The business noted that the order was initially executed on 8 January, 2026, and had been announced to exchanges earlier on 9 January, 2026.

However, Indo Tech maintained that the cancellation will have no effect because manufacturing for the deal had not begun. “The company maintains a healthy order book as of date,” it stated in the report.
 
Indo Tech reported receiving orders worth approximately Rs 80 crore in the last week from renewable projects.

Indo Tech Transformers was founded in 1976 and is a transformer manufacturing firm based in Southern India. It has manufacturing plants in Kancheepuram, Tamil Nadu. According to the company’s official website, over 56,000 transformers of various ratings up to 245 KV are in service in various substations and industries throughout India and the world.

The company manufactures power, distribution, inverters, converters, and special application transformers for a variety of sectors, including transmission, generation, hydro, wind, solar, steel, cement, textiles, utilities, and DESCOMS.
 
The company’s renowned clients include TNEB, NTPC, Adani, L&T, ABB, and Siemens. Its diverse portfolio also includes important businesses in the power and infrastructure industries, such as NLC, Vestas, DVC, Gamesa, BGR, and Suzlon.
 
Furthermore, the firm works with prominent engineering and energy companies such as Tata Projects, KEC International, ReGen Powertech, Reliance, Walchand, TKIS, Doosan, and GE, among others. Its transformers are in use in numerous ferrous and non-ferrous metal industries around the country. Some of its major customers are JSW Steel, Jindal Steel and Power, BALCO, and Jayaswal Neco Industries.

At 1:30 pm, the shares of Indo Tech Transformers were trading 2.26% lower at Rs 1,347.10 on NSE.

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