Supreme Power Equipment Ltd(SUPREMEPWR)

NSE: SUPREMEPWR

₹ 274.5+4.39%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 686 crUpdated: 24 Oct 2026

About

Supreme Power Equipment Ltd was founded in 1994 and is based in Tamil Nadu. It makes power and distribution transformers and is a key supplier to local electric utilities. FY26 revenue was 181.64 (Rs Cr). After its Kannur facility was commissioned in FY26, its annual manufacturing capacity rose from 2,500 MVA to 9,000 MVA.^[1][2][3]

Order book and inflows

The order book was ₹565.80 Cr as on 21-Oct-2026, compared with INR590.06 Cr as of Aug 13, 2026.^[3][4]
In H1 FY27 the company won 11 orders worth ₹209.24 Cr, with execution timelines of 7 to 17 months.^[3]
Price variation clauses covered 70-75% of the order book in H1 FY27, compared with about 80-85% in Q1 FY27.^[3][4]
Subsidiary Danya Electric Company had an order book of ₹83.04 Cr as on 21-Oct-2026, compared with INR88.13 Cr as of Aug 13, 2026.^[3][4]
Of the order book, INR377 Cr was expected to be executed before March 2027 (as of Aug 13, 2026).^[4]

Products and order book mix

The company manufactures, upgrades and refurbishes power, generator, windmill, distribution, isolation, solar, energy-efficient, converter and rectifier transformers (FY25 annual report).^[1]
Power transformers made up 76.91% (INR453.83 Cr) of the order book as of Aug 13, 2026, compared with about 72% as of May 27, 2026.^[4]
H1 FY27 order wins included a 160 MVA, 220 kV transformer worth ₹23.30 Cr from a Hyderabad company with 13-month execution, and a 112.5 MVA, 330 kV transformer.^[3]
Inverter duty (solar) transformers contributed about 18% of revenue in FY25, up from 7% the previous year.^[1]
The company has made and supplied more than 17,000 distribution transformers (FY25 annual report).^[1]

Manufacturing capacity and utilisation

Installed capacity is 9,000 MVA, including the Kannur facility (6,000-6,500 MVA, up to 200 MVA/220 kV, ~₹100 Cr investment) commercialised in Feb 2026.^[3]
Kannur production and utilisation were scaling up as planned in H1 FY27, after 20-25% utilisation in Q1 FY27; Unit 1 (2,500 MVA) ran at 70-80% in Q1 FY27.^[3][4]
Utilisation of the original facility was 70-78% in FY26, compared with about 38% (950 MVA actual vs 2,500 installed) in FY25.^[5][1]
The original plant at Chennai, Tamil Nadu covers 17,876 sq. feet (FY25 annual report).^[1]
More than 250 workers had been deployed at the Kannur plant as of Q1 FY27.^[4]

Customers and markets

Private sector contributed ₹81.00 Cr (59.86%) of H1 FY27 revenue and government ₹54.31 Cr (40.14%), compared with 76% from private clients in FY25.^[3][1]
Top 10 customers accounted for 94.91% of revenue in FY25.^[1]
Government orders made up 30.10% of the order book as of Aug 13, 2026, compared with 33.63% in May 2026.^[4]
FY26 orders included INR264.27 Cr from Karnataka-based EPC players, INR159.94 Cr from Tamil Nadu Power Distribution Corporation and INR57 Cr from Kerala State Electricity Board.^[5]
It entered Maharashtra with a ₹13.50 Cr order from a Maharashtra EPC company (H1 FY27).^[3]
It has expanded beyond Tamil Nadu into Kerala, Karnataka, Telangana, Lakshadweep and Punjab, and is exploring exports to Africa, Southeast Asia and the Middle East (FY25 annual report).^[1]
Receivable days were 80-100 days in Q1 FY27, compared with about 210 days a year before Q3 FY26.^[4]

Expansion and capex

Management puts the Kannur facility's revenue potential at full capacity at ₹500-550 Cr (Q2 FY27 call).^[3]
A tank manufacturing facility costing about INR20-22 Cr, funded by term loans, is to be completed before March 2027 (Q1 FY27).^[4]
CPRI prototype testing of the 160 MVA/220 kV transformer is planned for Dec 2026/Jan 2027.^[5]
Management expects Kannur utilisation to reach 30-50% by Q4 FY27.^[4]
A Phase 2 expansion to 300-500 MVA transformer capability is under consideration, with a land search underway but no firm plans (Q1 FY27).^[4]
Management expects data center orders in FY28 and none in FY27; a 165 MVA type-test is a prerequisite.^[4]

Corporate developments

The company listed on the NSE Emerge platform on 29 December 2023. Migration to the main board is planned for FY28, after the window opens following December 2026.^[1]
Management stated that no equity dilution is planned in FY27 (Q1 FY27 call).^[4]
Shareholders were asked to approve a borrowing limit of up to Rs. 300.00 Crores and related-party transactions with Danya of up to Rs.75 Cr (FY25 annual report).^[1]
The company had a CRISIL BBB-/Stable long-term rating and won the MSME Ratna Award 2024 (FY25 annual report).^[1]

Market Cap

₹686 Cr

High / Low

₹305 / 131

Stock P/E

27.8

Price / Book

5.8

Book Value

₹47

EPS

₹8.2

No. of Shares

2.5 Cr

ROCE

22.0%

ROE

18.7%

OPM

17.3%

Debt / Equity

0.42

Sales

₹182 Cr

Net Profit

₹21 Cr

Promoter holding

57.2%

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