Indo Tech Transformers slips 4% after Renew Wind cancels ₹65-cr order

Indo Tech Transformers slipped 3.7 per cent in trade on the BSE, logging an intra-day low at ₹1,325 per share. At 10:51 AM, Indo Tech’s share price was trading 2.5 per cent lower at ₹1,342.05. In comparison, Sensex was down 0.7 per cent at 76,321.87. 

 

The stock was under selling pressure after the company informed that Renew Wind Energy (JAMB) cancelled an order for the supply of six transformers, citing project delays.

 

The cancelled order was related to the supply of 6 units of 220 kV – 165 MVA transformers. Indo Tech said the aggregate order value was ₹64.99 crore plus applicable taxes. The company added that the order was originally executed on January 8, 2026, and had been disclosed to exchanges earlier on January 9, 2026.

 

 

However, Indo Tech stated that the cancellation will have no impact, as manufacturing had not commenced for the order. “The company maintains healthy order book as on date,” it said in the filing.

 

Indo Tech said it has received orders worth around ₹80 crore in the last one week from various renewable projects.  

 

Indo Tech Transformers was established in 1976 and is a transformer manufacturing company situated in Southern India. It has manufacturing facilities at Kancheepuram in Tamil Nadu. Over 56,000 Transformers of different ratings up to 245 KV are in service in various Substations and Industries across India and around the world, according to its official website.

 

The company is engaged in the business of manufacturing power, distribution, inverters, converters, special application transformers, catering to various industries like transmission, generation, hydro, wind, solar, steel, cement, textiles, utilities, DESCOMS, etc.

 

Some of the renowned clients of the company are TNEB, NTPC, Adani, L&T, ABB, and Siemens. Its extensive portfolio also features major players in the power and infrastructure sectors, including NLC, Vestas, DVC, Gamesa, BGR, and Suzlon.

 

Furthermore, the firm serves top-tier engineering and energy giants like Tata Projects, KEC International, ReGen Powertech, Reliance, Walchand, TKIS, Doosan, and GE, among others. Its transformers are in service at many ferrous and non-Ferrous metal industries throughout the country. Some of its main customers include JSW steel, Jindal Steel and Power, BALCO, Jayaswal Neco Industries etc.