About Shilchar Technologies Limited

Shilchar Technologies Limited was incorporated in 1986 and is headquartered in Vadodara, Gujarat. Over nearly four decades, it has established itself as one of India’s leading manufacturers of power and distribution transformers, with a growing global presence. The company began with R-core transformers, entered the ferrite transformer space in 1995, and expanded into power and distribution transformers in the early 2000s.

Today, Shilchar manufactures transformers up to 50 MVA and 132 kV class, catering to utilities, renewable energy projects, industrial sectors, and specialised applications such as furnace and converter duty transformers. The company operates a state-of-the-art 17-acre manufacturing facility in Gavasad, Gujarat, with an installed capacity of 7,500 MVA as of August 2024. Its customer base spans more than 25 countries across five continents, and exports contributed about 43% of revenue in FY25.

The company holds ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certifications and operates as a zero-discharge unit, reflecting its strong commitment to sustainability and quality. Shilchar’s strategy focuses on customised, made-to-order transformers supported by advanced design and engineering tools like Solid Edge and SAP.

Shilchar Technologies Limited’s Business Segments

Shilchar operates in a single business segment:

• Transformers: Power, distribution, inverter-duty (solar), generator (wind/hydro), and specialised transformers for industrial use.

Exports accounted for ~43% of total revenue in FY25, with strong demand from North America, Europe, the Middle East, and Asia.

Shilchar Technologies Limited’s Key Management

The key management team includes:

• Mr. Alay J. Shah, Chairman & Managing Director

• Mr. Aashay A. Shah, Executive Director

• Mr. Zarksis Parabia, Non-Executive Independent Director

• Mr. Rajesh Varma, Non-Executive Independent Director

• Mr. Rakesh Bansal, Non-Executive Independent Director

• Ms. Nandini Tandon, Non-Executive Independent Director

• Mr. Prajesh K. Purohit, Chief Financial Officer

• Ms. Vishnupriya Civichan, Company Secretary & Compliance Officer (from April 1, 2025)

Latest Updates on Shilchar Technologies Limited

• Capacity Expansion: Completed an additional 3,500 MVA capacity in August 2024, taking total installed capacity to 7,500 MVA.

• Financial Growth: Revenue from operations grew 57% year-on-year to Rs 623 crore in FY25, with PAT rising 60% to Rs 147 crore. EBITDA margin improved to 29.6%.

• Export Strength: Exports contributed 43% of total revenue, driven by demand from renewable energy and industrial projects worldwide.

• Operational Efficiency: Achieved production of ~5,750 MVA with blended capacity utilisation at 77% during FY25.

• Balance Sheet Strength: Maintains a debt-free balance sheet with Rs 91 crore in net cash reserves, enabling self-funded expansion.

• Dividend and Bonus Issue: Board recommended a final dividend of Rs 12.50 per share for FY25 and proposed a bonus issue of one share for every two shares held.

• Governance Changes: Board reconstitution during FY25 included appointment of new independent directors and a change in company secretary.