Ashish Kacholia holds 1.67% stake & Rs 775+ crore order backlog: Heavy electrical equipment company signs technology co-development agreement with Hyosung Group of South Korea

Quality Power Electrical Equipments Ltd. (QPEEL) and its subsidiary, Mehru Electrical and Mechanical Engineers Pvt Ltd, have entered into a significant co-development agreement with Hyosung T&D India Private Limited, a part of South Korea's Hyosung Heavy Industries Corporation. This partnership is centred on the co-development of gas-insulated switchgear (GIS) instrument transformers. The collaboration is a major step for Mehru, making it one of the first Indian companies to work on this technology for global markets. This move is aligned with the Indian government's "Make in India" initiative, aiming to decrease the country's reliance on imported GIS components and establish India as a global supplier in this sector.

Enjoy a FREE service with your subscription — get the offer today!

The agreement combines Hyosung's global leadership in advanced equipment and eco-friendly gas technologies with Mehru’s extensive experience in manufacturing high-voltage instrument transformers. This synergy will lead to the creation of world-class GIS components designed and manufactured in India. The GIS market is expanding quickly, fueled by factors like renewable energy integration, urbanisation and grid modernisation. GIS technology is preferred over conventional air-insulated substations due to its compact design, improved reliability and use of more environmentally responsible gases.

This strategic partnership allows Mehru to diversify its product portfolio and extend its leadership beyond its traditional oil-filled and dry-type transformers. The new products, set to be developed and commercialised within the next 12 months, will target key growth areas such as metro rail, offshore wind, data centres and high-voltage urban transmission projects. These transformers will be tested and certified to international standards (IEC/IEEE), which will further boost Mehru's global technology credibility and increase the value of its products.

About the Company

Quality Power Electrical Equipments Ltd is a publicly listed Indian multinational specialising in high-voltage power equipment and advanced power quality solutions, with installations in over 100 countries. The company serves utilities and industries globally, focusing on grid stability, operational efficiency and network reliability. Operating from ISO-certified manufacturing facilities, Quality Power produces engineered products up to 765 kV, playing a vital role in the global energy transition through its innovative high-voltage infrastructure.

The company achieved its highest-ever quarterly total revenues of Rs 194.1 crore, marking a significant increase of 143.6 per cent year-over-year and 49.4 per cent quarter-over-quarter. Furthermore, Quality Power reported its highest-ever quarterly EBITDA of Rs 31 crore, demonstrating robust growth of 31.6 per cent year-over-year and an impressive 90.4 per cent quarter-over-quarter. The Profit After Tax (PAT) for Q1 FY26 stood at Rs 37.1 crore, reflecting an 11 per cent increase compared to Q1FY25.

An ace investor, Ashish Kacholia, holds a 1.67 per cent stake, via his investment firm, Bengal Finance and Investment Pvt Ltd. The company has a market cap of Rs 7,800 crore and has orders in hand of over Rs 775 crore. The stock has given multibagger returns of 287 per cent from its 52-week low of Rs 270.60 per share. The shares of the company have a PE of 90x, an ROE of 23 per cent and an ROCE of 28 per cent.

Disclaimer: The article is for informational purposes only and not investment advice.