Quality Power Equipments Ltd (QPE) closed Q1FY27 with a consolidated order book of Rs.1945.5 crore, as of June 30, 2026.
In a release, QPE said that this order book was equivalent of around 1.9 times of the consolidated revenue in FY26.
The book is well diversified across geographies and technology segments and is anchored by long cycle, high engineering content projects awarded by global utilities, transmission system operators, original equipment manufacturers and engineering, procurement and construction contractors, the release said.
Order inflow
During Q1FY27 (April to June), QPE disclosed order wins of Rs.104.9 crore, comprising Rs.48.3 crore of high voltage reactors for a data centre project in the United States, a Rs.40.9-crore FACTS system and equipment order secured by Endoks in Japan, and Rs.15.70 crore of 400kV instrument transformer orders secured by Mehru from Hitachi Energy India Ltd. (See “Growth in brand portfolio” ahead)
Business highlights of Q1FY27
- Proposed acquisition of Winwin Speciality Insulators Ltd progressing, following execution of a term sheet in June 2026 for the acquisition of 100 per cent of the equity share capital at an enterprise value of approximately Rs.315 crore, subject to due diligence, requisite approvals and other closing conditions
- Sangli manufacturing expansion on track, with machinery installation underway and trial production targeted for August 2026, subject to regulatory clearances
- HVDC CTC magnet wire facility progressing as planned, with machinery installation scheduled to commence in August 2026
- Endoks facility expansion in Turkey advancing, with civil construction of the new manufacturing facilities complete and interior fit out underway. The expansion will establish advanced instrument transformer manufacturing capability in Europe, and power conversion system operations are expected to commence in Q3FY27.
Strengthening presence
Commenting on the company’s performance in Q1FY27, P. T. Pandyan, Chairman and Managing Director, QPE, said, “During the quarter we continued to strengthen our presence across key international and domestic markets. We secured a significant order for the supply of high voltage reactors for a data centre project in the United States, reinforcing the emerging opportunity arising from the power requirements of hyperscale and artificial intelligence led data centre infrastructure. We also secured a FACTS system and equipment order in Japan, further strengthening our presence in advanced grid stability applications. In India, our material subsidiary Mehru received multiple orders for 400 kV instrument transformers from Hitachi Energy India Limited, reflecting continued demand for high voltage grid equipment.
We are also continuing to expand our addressable market through targeted acquisitions. The proposed acquisition of Winwin Speciality Insulators Limited would add ceramic insulator manufacturing capability up to 1,200 kV and polymeric insulators up to 400 kV, along with the established WS Insulators brand, manufacturing infrastructure and customer qualification base built over more than six decades. We see this as an important step towards broadening our high voltage product portfolio and strengthening our ability to serve global utilities, original equipment manufacturers and engineering contractors with a wider range of critical equipment.”
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:
- 2011: Acquisition of 51 per cent equity stake in Endoks Enerji Anonim Sirketi, Turkey
- 2019: Acquisition of 100 per cent equity stake in S&S Transformers & Accessories Pvt Ltd
- 2022: Takeover of Electric Power Equipment Company, Bengaluru
- 2022: Acquisition of 15.45 per cent equity stake in Chennai-based Nebeskie Labs
- 2025: Acquisition of 51 per cent equity stake in Mehru Electrical & Mechanical Engineers Pvt Ltd
- 2025: Increased equity stake in Nebeskie Labs to 25 per cent
- 2025: Completed the acquisition of 50 per cent equity stake in Sukrut Electric Company Pvt Ltd, with Yash Highvoltage Ltd holding the remaining 50 per cent.
- 2025: Acquired 76 per cent equity stake in Gandhinagar-based Veeral Controls having over three decades of experience in high current power electronics and industrial power conversion systems.
These acquisitions have resulted in an expansion of the company’s product portfolio and the addition of brands like “Endoks”, “stap”, “EPEC” and “MEHRU”.
Featured photograph (source: QPE) is for representation only