• Transformer market opportunity: Transformers and Rectifiers of India expects a total addressable market of ₹30,000–35,000 crore for transformers under the GEC 3 scheme, projecting roughly ₹3,200–3,500 crore in order inflows based on a 10–12% win ratio.
• Supply chain mitigation: To manage supply chain pressures, Transformers and Rectifiers is setting up captive manufacturing facilities for key components, including CTC wire, press board, and bushings.
• Capacity and pricing: Management reported stable pricing dynamics as industry demand outpaces supply, supported by company expansion plans to scale manufacturing capacity to 80,000–82,000 MVA.
• Counterparty risk mitigation: KEC International noted working capital concerns from state utility projects are mitigated because roughly 85–90% of tenders will be routed through TBCB developers like Power Grid and private players rather than direct state electricity boards.