Updated March 24th, 2024 at 13:23 IST

SSEL targets new Rs 300 crore plant by September quarter, says CMD

Highlighting SSEL's diversified portfolio, Reddy underlined the company's involvement in transmission EPC projects.

Reported by: Business Desk
Representative image of a electrical transformer. | Image:Unsplash/Representative
Advertisement

Shirdi Sai Electricals Ltd (SSEL), a prominent player in the transformers manufacturing sector, is gearing up to commence operations at its state-of-the-art Rs 300 crore facility in Andhra Pradesh by the September quarter of this fiscal year, revealed N Viseswar Reddy, the company's Chairman and Managing Director.

Speaking to PTI, Reddy elaborated on the ambitious venture, detailing SSEL's investment in setting up a cutting-edge manufacturing unit for conductors in the YSR District of Andhra Pradesh. The plant, spanning 8 acres, is designed to have an annual production capacity of 300 tonnes, catering to the burgeoning demand for conductors, a vital component of transmission line projects.

Advertisement

Reddy outlined the phased approach adopted for the plant's establishment, with trial production slated to commence by the end of the current month. Phase 1 aims to achieve peak production capacity of 200 tonnes in the first quarter of the upcoming fiscal year, with plans for full operationalization targeted for the July-September period of 2024-25.

Highlighting SSEL's diversified portfolio, Reddy underlined the company's involvement in transmission EPC projects, with approximately 50 per cent of the conductors' production earmarked for internal consumption. The remainder will be made available to both domestic and international markets, contributing to enhanced availability of domestically manufactured conductors at competitive prices.

Advertisement

With conductors being a scarce commodity primarily imported into the country, the establishment of the new manufacturing unit is poised to address this gap, bolstering India's self-reliance in this critical sector.

Established in 1994 as a transformer repairing entity, SSEL Group has evolved into India's largest transformer manufacturing company, with a significant presence in the transmission project segment. With a workforce of around 5,000 employees, the group recorded a revenue of Rs 2,680 crore in FY 2022-23.

Advertisement

(With PTI inputs)
 

Advertisement

Published March 24th, 2024 at 13:23 IST