Quality Power Equipments closes FY26 with Rs.1,400 crore-plus order book

Corporate Performance

T&D India
May 14, 2026

Quality Power Equipments Ltd (QPE) has closed FY26 with an unexecuted order book of over Rs.1,400 crore, as of March 31, 2026.

In a release, QPE indicated that this order book, representing 1.4 times of the FY26 revenue, provides strong visibility into FY27 and beyond.

The order book is well-diversified across geographies and technology segments, and is anchored by long-cycle, high-engineering-content projects with marquee global utility, transmission system operator, and EPC customers, the release noted.

In FY26, Quality power secured breakthrough HVDC-related orders, covering both LCC and VSC technologies, including landmark wins on Indian inter-regional HVDC links and on multi-terminal VSC schemes in Australia.

QPE also successfully qualified on multiple grid-scale battery energy storage system tenders in Europe.

Besides, the company recorded new FACTS project and equipment wins (SVC and STATCOM-linked equipment) across the Americas, Europe, the Middle East and Asia-Pacific, reinforcing its position as a preferred specialist supplier to Tier-1 OEMs.

Expansion in technological ecosystem

Commenting on the company’s FY26 performance, P.T. Pandyan, Chairman & Managing Director, Quality Power Equipments Ltd, said, “During the year, we continued to expand our technological and manufacturing ecosystem across multiple verticals. Significant progress was achieved towards the development of our upcoming Global Coil Manufacturing Facility, which is being designed not merely as a capacity expansion project, but as a strategic platform for advanced HVDC and FACTS coil technologies, high precision winding systems, specialised insulation processes and integrated testing capabilities. The facility is expected to materially strengthen our execution flexibility, reduce dependency on constrained global supply chains and enhance our ability to support large scale energy transition projects globally.

Over the last few years, the industry has experienced increasing supply chain vulnerabilities across specialised components such as insulation systems, semiconductor devices, bushings and HVDC grade materials. In response, we have accelerated efforts towards developing stronger internal manufacturing ecosystems, deeper supplier partnerships and more resilient sourcing strategies. Our approach remains centred around reducing execution risk while simultaneously improving technology ownership within the organisation.”

Capex update

In FY26, QPE progressed with the development of its new global coil manufacturing facility at Sangli in Maharashtra. This facility is expected to significantly enhance the company’s addressable market in HVDC and FACTS applications. According to information previously released by QPE, the Sangli facility was expected to commission by June 2026. Coming up on a constructed area of around 3.2 lakh sqft, within a 10-acre land parcel, facility will be equipped with a 2,500kV AC high-power test lab to ensure that the products are compliant with Indian and European standards.

Growth in brand portfolio

Quality Power Electrical Equipments Ltd was incorporated in 2001 as a private limited company and become a public limited company after its IPO in early 2025. The important acquisitions and takeovers by the company include:

These acquisitions have resulted in an expansion of the company’s product portfolio and the addition of brands like “Endoks”, “stap”, “EPEC” and “MEHRU”.