Transformer stock jumps after receiving order worth ₹9.91 Cr from LC Infra Projects

Synopsis.: This small-cap transformer stock was in focus after the company bagged a Rs 9.91 crore order from LC Infra Projects Pvt Ltd for the supply of two large power transformers, a 70 MVA and an 80 MVA, both designed for 132 kV EHV applications.

This company, which is a multi-product and service organisation engaged in manufacturing, supplying, erecting, testing and commissioning of power and distribution transformers, had its shares in the news following the company’s announcement of bagging orders for 2 large power transformers. 

With the market cap of Rs 2,662 crore, the shares of Marsons Ltd had hit their intraday high at Rs 157.50, rising by about 2 per cent compared to their previous day’s closing price of Rs 154.55. The shares are trading at a PE of 82, whereas its industry PE is at 31, and have given a return of 3,300% in the last 5 years. 

About the order

Marsons Limited has announced a meaningful new win: an order worth Rs 9.91 crore from LC Infra Projects Private Limited for the supply of two large power transformers, a 70 MVA and an 80 MVA, both designed for 132 kV EHV applications. This order is an important validation of Marsons’ capabilities in the high-voltage transformer space and strengthens its role in India’s power transmission and distribution sector. The fact that the order comes from a domestic customer further deepens the company’s presence in critical infrastructure projects across the country.

Delivering EHV transformers requires strong engineering expertise and tightly controlled manufacturing processes, and Marsons has been trusted to handle this end-to-end within a 6-month execution window. These types of transformers typically serve major utility, industrial, and infrastructure networks, which means Marsons is being brought into projects that demand high reliability and technical depth. Securing such orders signals growing confidence from clients in Marsons’ ability to deliver complex, high-value equipment on schedule.

On the business front, this order adds solid revenue visibility and supports the company’s broader growth momentum. The contract has been awarded on an arm’s-length basis, with no involvement from promoters or related parties, underscoring Marsons’ transparency and corporate governance. If executed smoothly, the project not only enhances the current order book but also strengthens Marsons’ reputation in the competitive EHV transformer market, improving its chances of winning more high-impact orders in the future.

Financials and more

The revenue from operations for the company stands at Rs 60 crores in Q2 FY26 compared to Q2 FY25 revenue of Rs 38.5 crores, growing by about 56 per cent YoY. Similarly, the net profit stood at Rs 9.2 crore in Q2 FY26, up from Rs 7.5 crore in Q2 FY25, giving a growth of about 23 per cent. 

Marsons Limited is a transformer manufacturer that has earned strong industry credibility through its commitment to international quality standards and reliable customer service. It produces a wide range of power and distribution transformers, from 10 KVA to 160 MVA (220 kV class), including furnace transformers, dry-type units, and other specialised applications. The company is also expanding its capability to manufacture EHV transformers up to 315 MVA, 400 kV, signalling its move into more complex, high-value segments of the power sector.

Its main manufacturing facility in Kolkata spans 35,000 sq. m and was among the first in India to establish an impulse test laboratory and vacuum heating system back in 1995–96. The impulse lab is equipped with a 1600 kV, 80 kJ impulse generator from Haefely Trench of Switzerland, a global leader in high-voltage testing technology. Marsons’ expertise covers the full lifecycle of transformers from design, development, manufacturing, and testing, and its products, including the 150 MVA, 220 kV class transformer, have been successfully type-tested by reputed institutions like CPRI and ERDA.

This combination of long-standing experience, advanced facilities, and proven product quality reinforces Marsons’ strong position in the power and distribution transformer industry.

Written by Leon Mendonca

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