TELK Secures Record-Breaking ₹289 Crore Order for Transformer Manufacturing

In a remarkable milestone, Transformers and Electricals Kerala Ltd. (TELK), based in Angamaly and established as a joint venture between the Kerala Government and NTPC Ltd., has secured its most substantial order to date, valued at ₹289 crore. The order, awarded by Hyderabad-based Megha Engineering and Infrastructures Limited, encompasses the design, manufacture, and supply of 38 transformers with varying capacities. These transformers are destined for deployment in the MP Intra State Transmission Package -1 Project in Madhya Pradesh.

TELK's triumphant bid for this prestigious contract came after fierce competition with both domestic and multinational companies, as the company proudly announced. The guiding principle of "Quality before Quantity and People before Profit" in TELK's business philosophy played a pivotal role in the successful acquisition of this monumental order, as emphasized by the company.

The delivery and handover of these transformers are set to be completed within a year, commencing from January 2024, as stated by TELK.

With the addition of this substantial order, TELK's existing order book stands at approximately ₹353 crore, and the cumulative order value has surged to ₹642 crore. Furthermore, TELK is positioned as the lowest bidder in various ongoing tenders currently in the finalization stages.

Moreover, TELK has taken significant strides in enhancing its presence in the transformer repair sector. The company has initiated the provision of repair services for transformers supplied by other manufacturers, catering to esteemed clients such as the Nuclear Power Corporation, Neyveli Lignite Corporation, NTPC, Adani, and more. TELK anticipates the receipt of repair orders valued at approximately ₹16 crore in the near future.

In a strategic move, the Kerala Government has extended its support to TELK by sanctioning a Government Guarantee of ₹40 crore. This financial backing is aimed at facilitating TELK's access to credit facilities from banks and financial institutions to address any additional working capital requirements. TELK has initiated the process by inviting Expressions of Interest from banking and financial institutions interested in providing credit facilities against the aforementioned Guarantee. P C Joseph, Chairman, and Neeraj Mittal, Managing Director, provided these insights in a recent release, underlining TELK's commitment to growth and excellence in the field of electrical transformers.

HBL