Electrical Equipment Stock Surges 5% After Renewed Approval from Power Grid

Synopsis: Shares of Mangal Electrical Industries Limited rose 5% after securing renewed approval from Power Grid Corporation of India Limited, enabling continued participation in high-voltage transformer projects.

The shares of this company process transformer components such as laminations, CRGO slit coils, amorphous cores, coil/core assemblies, wound cores, and etc are in the spotlight after it rose by 5% in today’s market session following the renewal of its manufacturer approval from Power Grid Corporation of India Ltd.

With a market capitalisation of Rs. 869 cr, the shares of Mangal Electrical Industries Ltd were trading at Rs. 314.55 per share, jumping 5% in today’s market session, making a high of Rs. 316.75, up from its previous close of Rs. 302.30 per share. 

What’s the News

Mangal Electrical Industries Ltd has received a renewal of its manufacturer approval from Power Grid Corporation of India Ltd. This approval extends the validity for undertaking specialised processes such as CRGO (Cold Rolled Grain Oriented) coils slitting and lamination cutting used in transformers and reactors up to the 765 kV class. The renewed accreditation ensures that the company remains eligible to supply products for PowerGrid’s high-voltage transmission projects.

The approval is valid until April 22, 2029. It covers critical manufacturing activities required for large-scale power infrastructure, particularly in ultra-high voltage transformer and reactor segments. The certification will be subject to continued compliance with quality standards, performance benchmarks, and project specifications set by PowerGrid.

This renewal reinforces the company’s strong positioning in the high-value power equipment segment. It enables continued participation in large PowerGrid projects, which are central to India’s transmission infrastructure expansion. The approval also enhances credibility and supports future order inflows in the transformer manufacturing ecosystem.

The approval remains contingent on consistent product quality, adherence to technical standards such as IEC and IS norms, and satisfactory project execution. PowerGrid retains the right to conduct inspections or withdraw approval if any deviations are observed. 

About the company 

Mangal Electrical Industries Limited is an India-based company engaged in manufacturing and processing CRGO (Cold Rolled Grain Oriented) steel components used in power transformers and reactors. It supplies precision laminations and coils for high-voltage applications, supporting the power transmission sector.

Sales of the company increased from Rs. 154 cr in Q2FY26 to Rs. 156 cr in Q3FY26. Operating profit fell to Rs. 19 cr from Rs. 22 cr. Net profit stood at Rs. 13 cr. It has delivered strong growth, with profit rising at a CAGR of 74% over 5 years and 98% over 3 years, while sales grew 21% and 36% respectively, reflecting robust business expansion and improving performance. 

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