Accord Transformer & Switchgear Ltd is an Indian manufacturer that builds the heavy electrical hardware-transformers, switchgear, and packaged substations-that moves electricity from power plants to your wall socket. Founded in 2014 by an industry veteran and listed in 2026, the company has grown from a private workshop into a publicly traded supplier for state utilities, renewable-energy giants, and electric-vehicle charging networks across India and export markets. Its recurring approach is to compete against multinational corporations by running leaner operations that can offer attractive pricing without sacrificing the quality or testing standards that utility customers demand. # Business segments A single integrated electrical-equipment engine built around one set of factories, one workforce, and one customer promise-the company designs, makes, and commissions the transformers, switchgear, and substations that form the backbone of power delivery, with each product line feeding the same end markets. ## 1. Transformers: the core engine that steps power up and down **The company makes the liquid-filled and dry-type transformers that utilities, solar farms, and factories rely on to change voltage levels-and it has just proven it can build one of the toughest units in the renewable-energy segment.** - **The full voltage ladder, from 10 KVA to 33 KV** - the range spans distribution transformers for neighbourhood grids, power transformers up to 33 KV, solar and wind-specific designs, and dry-type units (both cast-resin and vacuum-pressure-impregnated) reaching 5,000 KVA, so the company can serve a local housing colony or a large industrial plant from the same factory. - **A technical calling card in renewables** - it successfully completed the dynamic short-circuit test for a 17.60 MVA inverter-duty transformer at the Central Power Research Institute, which management calls the highest rating in the transformer industry for the renewable segment, proving the unit can survive a severe electrical fault. - **Approved by the gatekeepers** - the company has secured vendor approvals from state electricity boards including MVVNL, DHBVNL, and UGVCL (the latter for 500 KVA copper-wound distribution transformers valid for five years), as well as from Power Grid Corporation of India and Aditya Birla Renewables, meaning it has passed the rigorous factory and quality-system audits required to supply India’s largest grid and renewable-energy projects. - **Automation where it counts, craft where it must** - only 20-30% of transformer manufacturing is automated because a 20-40 metric-ton power transformer cannot be moved by robots, but the company uses automated testing facilities and is exploring robotic welding for tank fabrication to tackle a shortage of skilled welders. - **Room to grow without moving** - the existing factory can handle up to INR 150 crores of business without hurdles and up to INR 200 crores with smooth deliveries, giving it headroom before the planned push into Extra High Voltage (EHV) transformers demands new capacity. ## 2. Switchgear, control panels and busducts: the protection and control layer **These are the cabinets and busbar systems that house the circuit breakers, relays, and controls protecting electrical networks from faults-built in partnership with Siemens and Schneider Electric.** - **From low-voltage to 33 KV panels** - the range covers PCC, MCC, AMF, APFC, VFD, and PLC-based control panels, plus medium-voltage panels rated up to 33 KV and 2,500 Amps with a breaking capacity of 40 kA, so the company can outfit the electrical room of a factory or a substation control building. - **Busducts that carry heavy current** - the HT and LT busduct line spans 200 Amps to 6,300 Amps, built to IEC and IS standards with IP42/55 ingress protection, alongside cable trays, providing the high-capacity copper highway that connects transformers to switchgear inside a plant. - **Global technology partners as a quality signal** - a strategic OEM partnership with Siemens (Germany) and a partnership with Schneider Electric for Prisma Set Panels (signed in 2024) mean the company builds panels to the specifications of two of the world’s largest electrical-equipment firms, which acts as a credential when bidding for industrial projects. - **In-house fabrication muscle** - the plant runs CNC panel fabrication, plasma cutting, MIG and arc welding, shot blasting and painting booths, and busbar processing, with a dedicated quality-inspection area, so the company controls the metalwork and finish rather than outsourcing it. ## 3. Package and compact substations: a plug-and-play grid node **The company builds pre-fabricated, modular substations that bundle a transformer, switchgear, and protection into a single weatherproof enclosure-delivered to site and commissioned fast.** - **A complete substation on a skid** - the range includes unitized indoor/outdoor substations and skid-mounted substations, with the package version combining a dry-type transformer, an SF6 or oil-insulated Ring Main Unit, and a low-voltage distribution panel inside a modular enclosure rated IP5 for dust and water protection. - **Built with a specialist partner** - a partnership with Lucy Electric for Compact Substations (established in 2024) brings in the Ring Main Unit expertise of a company that specializes in secondary distribution, paired with Accord’s in-house transformers and panels. - **Already on the highway** - the company is supplying compact substations and control panels for the National Highway for Electric Vehicle (NHEV) initiative, with 450 substations allotted across India and 5,500 km of highway corridors approved, putting its equipment at the heart of a national EV charging backbone. ## 4. EV charging infrastructure: the power supply behind the plug **The company does not make the charger you plug into a car-it makes the transformer and switchgear that feed high-voltage power to fast-charging stations, and Battery Energy Storage System makers are among its clients.** - **The electrical backbone for fast charging** - the offering covers power supply systems for fast-charging stations, advanced transformers that ensure grid compliance and safety, and integrated switchgear, meaning the company provides the heavy electrical infrastructure that sits upstream of the charging dispenser. - **Supplying the charger operators** - through the NHEV collaboration, the company supplies equipment to over 20 Charging Point Operators across pilot corridors, making it a behind-the-scenes enabler rather than a consumer-facing brand. - **BESS manufacturers are customers, not competitors** - the company does not manufacture Battery Energy Storage Systems; instead, BESS manufacturers buy its transformers and switchgear for their own installations, so the energy-storage boom creates demand for Accord’s products without requiring it to enter the battery business. # Group structure and partners **A founder-led, publicly listed manufacturer with two Rajasthan factories, fresh land for expansion, and a web of technology partnerships that anchor its credibility.** - **Founder at the helm** - Chairman and Managing Director Pradeep Verma brings over twenty years of experience in transformer and switchgear design, engineering, and operations, and the promoter group held 61.97% of the company as of March 2026. - **Two operating factories, one expansion plot** - manufacturing is concentrated in two facilities in the RIICO Industrial Area, Khuskhera, Bhiwadi, Rajasthan, and the company has acquired an additional 20,300 square meters of land in the same district (sale deed executed July 2026) for future factory, warehouse, and testing expansion. - **A trio of technology anchors** - strategic OEM and technology partnerships with Siemens (Germany), Schneider Electric (Prisma Set Panels, 2024), and Lucy Electric (Compact Substations, 2024) give the company access to global design standards and a stamp of approval that matters when bidding against larger competitors. - **An international MoU on the horizon** - a non-binding Memorandum of Understanding with the Western Administrative District of Moscow explores collaboration in energy infrastructure, potential joint ventures and local assembly, EPC projects, and skill development, signalling an intent to build a presence in the Russian market.