Shivalic Power Control is a specialist manufacturer that sits between the power source and the machines that run a factory, a data centre or a hospital - it builds the customised electrical panels that distribute and control electricity safely. Founded in 2004 by an electrical engineer and now run as a family-led listed company, it has spent two decades moving from a conventional panel shop to a technology-first outfit with a proprietary zero-weld design and licence partnerships with Siemens, Schneider and others. The recurring approach is to own the full production process in-house - from raw steel to finished, powder-coated panel - while selling through three parallel routes that spread the risk across branded products, technical-partner labels and EPC project orders. # Business segments A single engine - customised LT and HT electrical panels - sold through three business models that together give it reach across industries, geographies and customer types. ## 1. Customised electrical panels: the backbone of industrial power distribution **Shivalic designs and builds the steel cabinets full of circuit breakers, bus bars and smart controls that take high-voltage electricity and distribute it safely to every machine on a site - and it makes them without a single weld.** - **The product is the control centre** - an electrical panel is a distribution board that receives power from a generator or transformer and sends it to individual devices, giving operators a single point to monitor and maintain the system; Shivalic’s panels include circuit breakers and protective devices so a fault in one machine does not shut down the whole plant. - **Two voltage families, one factory** - LT (low-tension) panels work below 1,000 volts for everyday power distribution inside buildings, while HT (high-tension) panels handle 3.3 kV to 33 kV for heavy industrial incoming supply; the company manufactures 11 kV and 33 kV HT panels only. - **Every panel is built to order** - the portfolio spans more than fifteen panel types, from motor control centres and synchronisation panels to IoT-enabled smart panels with remote energy monitoring, and each one is configured to the client’s site: bus bars can sit at the top, bottom or rear, the shape can be U, T or L, and cables can exit on any side. - **The zero-weld moat** - the company’s “Techno Modular Design” uses a fully bolted construction that eliminates welding, which improves corrosion resistance and thermal stability while cutting the carbon footprint; Shivalic claims to be the only manufacturer of non-welded panels in the country. ## 2. Three routes to market: branded, partnered and project-driven **The same factory floor produces panels that carry either the Shivalic name, a global partner’s brand, or an EPC contractor’s specification - three models that spread customer reach without duplicating cost.** - **Own-brand sales carry the warranty** - under the Shivalic Branded Products model, panels are sold directly with the company’s name on the door, and Shivalic itself stands behind the warranty and after-sales service. - **Licence partnerships bring global labels** - in the technical-partner model, panels are built to Siemens, Schneider or other partners’ specifications and sold under their brand names, with the partner providing the warranty while Shivalic manages marketing and manufacturing; the components inside are identical to those in Shivalic-branded panels. - **EPC firms feed project orders** - engineering, procurement and construction companies direct their panel requirements to Shivalic, letting the EPC player focus on the overall project while Shivalic supplies the electrical backbone. - **A customer base measured in industries, not companies** - the company serves more than 1,500 clients across over 20 sectors, from data centres and steel to cement, healthcare and oil and gas, with a 50% customer retention rate and exports to 13-plus countries in Asia and Africa. # Group structure and partners **Shivalic is a single listed entity with a family-led board, and it has recently bought majority stakes in two solar EPC companies while proposing to amend its charter to enter power generation, energy storage, data centres and defence.** - The Managing Director, Amit Kanwar Jindal, is a B.Tech in electrical engineering with over 20 years in the industry; the Whole Time Director and CEO, Dr. Sapna Jindal, moved from dentistry into the electrical sector; a related-party transaction exists for the MD’s sister-in-law, employed as HR Manager. - The company holds licensed-partner status with Siemens (for SIEPAN 8PU panels since 2019-20), Schneider Electric (for Prisma Set since 2020-21), and TDK (since 2022-23), all authorising it to manufacture fully type-tested assemblies compliant with IEC 61439. - In late FY2025-26, Shivalic acquired 51.22% of Prima Solar HR Private Limited and 51.64% of Soamya Solar Solutions Limited, the latter an end-to-end EPC solar provider for residential, commercial and industrial customers; the board has proposed expanding the company’s objects to include power generation, energy storage, data centre infrastructure and defence.