1. Jarod factory starting July 2026 - The greenfield power transformer plant at Jarod (6,000 MVA annual capacity, up to 250 MVA / 220 kV) is expected to be operational from July 2026, with ₹124.22 cr of the ₹200 cr capex already spent by February 2026. This removes the binding capacity constraint - utilisation exceeded 100% in FY25 - and adds roughly 40% to the existing 15,460 MVA output base on a site funded entirely from internal accruals.
2. FY26 order intake up 33% by volume - New orders from April to July 2025 rose 33% in volume and 17% in value over the same period last year, giving revenue visibility of ₹1,685 cr (14,526 MVA) for FY26 including Q1 revenue. With the nine-month delivery cap still in place, the order book is converting to revenue inside the current year at a pace that already covers nearly the whole of last year's ₹1,934 cr top line.
3. GETCO orders of ₹234 cr for six-month execution - Letters of Intent from Gujarat Energy Transmission Corporation for ₹149 cr (29 Oct 2025) and ₹85.05 cr (27 Nov 2025) were received, both to be executed within six months. These two domestic orders alone equal roughly 12% of FY25 revenue and land inside FY26, directly filling the new Jarod capacity as it starts up.
4. 160 MVA / 220 kV transformer shipped - The company manufactured, tested, and invoiced its highest-rated power transformer - 160 MVA, 220 kV class - ahead of the contractual delivery date in Q2 FY26. Proving this rating unlocks a larger addressable slice of the transmission market just as the Jarod facility, purpose-built for units up to 250 MVA, comes online.
5. Private capex cycle accelerating - New private-sector project announcements hit ₹3.5 lakh cr in the June 2025 quarter (up from ₹1.4 lakh cr a year earlier) and surged to ₹10.55 trillion in Q2 FY26, compared to ₹5.69 trillion a year ago. Transformers are an early-cycle industrial good, so a broad private capex upswing feeds directly into the enquiry pipeline management already calls robust.
6. FY27 Union Budget capex up 10% - The Union Budget for FY27 proposes a \~10% increase in capital expenditure to ₹12.2 trillion, over 4.4% of GDP. Sustained government infrastructure spending keeps the public-sector order book - Voltamp's traditional mainstay - expanding even as private demand accelerates.
7. Additional land bank near Vadodara - The Board approved ₹25 cr for acquisition of a new plot near Vadodara, funded through internal accruals, to keep land ready for future use. With the existing sites space-constrained and Jarod just completing, securing a second greenfield option signals management expects the current expansion cycle to be followed by another.