Powering Growth with Precision: Inside Accord Transformer and Switchgear Limited’s IPO Vision

New Delhi [India], February 23: As India accelerates its infrastructure, renewable energy, and electrification ambitions, power equipment manufacturers are emerging as critical enablers of this transformation. Against this backdrop, Accord Transformer & Switchgear Limited is entering the capital markets with its SME IPO opening on February 23, 2026. In an exclusive interaction, Mr. Pradeep Kumar Verma, Chairman & Managing Director of the company, shares insights into its growth journey, strategic roadmap, industry outlook, and how the IPO will support its next phase of expansion and innovation.

Q1. What key milestones and strategic developments have led the company to this stage, and why do you consider this the right time to launch the IPO?

Our growth has been driven by disciplined expansion, engineering excellence, and consistent financial performance. We have strengthened manufacturing capabilities, expanded our order book, and built strong client relationships. This IPO represents a natural progression, enabling us to access capital for accelerated expansion and participate in larger infrastructure opportunities aligned with India's power sector growth.

Q2. How will the IPO proceeds be deployed, and how will these investments support measurable business growth?

Funds will be strategically allocated toward capacity expansion, technology upgrades, working capital, and selective debt optimisation. We plan to invest in automation, R&D for high-efficiency transformers and smart switchgear, and supply chain strengthening. These initiatives will enhance productivity, scalability, and long-term value creation.

Q3. How are infrastructure expansion, renewable adoption, and electrification trends influencing demand in your sector, and how is your company positioned to benefit?

These trends are significantly increasing demand for reliable power infrastructure. Transformers and switchgear are essential components of grid modernization and renewable integration. We are positioning ourselves as a technology-driven manufacturer offering customised, high-efficiency solutions tailored to evolving grid standards and project requirements.

Q4. How do partnerships with global players like Schneider Electric and Lucy Electric strengthen your technological capabilities and market credibility?

These collaborations align us with international quality benchmarks. They enhance our design expertise, improve product reliability, ensure compliance with global standards, and enable knowledge transfer. This helps us remain technologically competitive while strengthening customer confidence across markets.

Q5. In a competitive electrical equipment industry, what differentiates your engineering strengths and manufacturing approach from other players?

Our competitive advantage lies in precision engineering, customised solutions, rigorous testing standards, and agile manufacturing processes. By focusing on design optimisation, efficient procurement, and execution excellence, we deliver high-performance products within competitive timelines while maintaining strong margins.

Q6. What strategic priorities guided the IPO structuring process with GYR Capital Advisors Pvt.Ltd., and which investor segments are you targeting?

The IPO structure was designed to balance growth capital requirements with investor attractiveness. We aim to attract long-term investors, SME-focused institutional participants, and informed retail investors. Transparency, governance, and sustainable performance remain central to our investor engagement strategy.

Q7. How will listing on the BSE SME Platform help strengthen credibility and create long-term shareholder value?

We view the SME listing as a strategic stepping stone. Our focus will be on strong governance, timely disclosures, financial discipline, and transparent communication. Over time, we aim to build institutional confidence and create a foundation for a potential transition to the mainboard.

Q8. What operational strengths and business factors are currently driving your steady financial growth?

Our performance is supported by a strong order book, diversified product mix, robust sector demand, and disciplined cost management. Improvements in production planning, vendor development, and working capital cycles have strengthened profitability while ensuring scalability.

Q9. What are the key challenges facing power equipment manufacturers today, and how is your company addressing these risks?

Key challenges include raw material price volatility, project delays, policy shifts, and pricing pressure. We mitigate these risks through diversified sourcing, strong vendor networks, structured project monitoring, and prudent financial management practices.

Q10. What is your five-year strategic roadmap, including expansion plans and the possibility of transitioning from SME to mainboard listing?

Over the next five years, we plan to expand capacity, diversify into higher-capacity and smart-grid-compatible products, strengthen exports, and invest significantly in innovation. As we scale operations and enhance institutional participation, we also aspire to transition from SME to mainboard listing. Our long-term vision is to emerge as a nationally respected and globally competitive power equipment manufacturer.

With strong engineering foundations, global collaborations, and a clearly defined growth strategy, Accord Transformer & Switchgear Limited's IPO marks a pivotal milestone as the company positions itself to grow alongside India's rapidly evolving power infrastructure ecosystem.

Disclaimer: This article is for informational purposes only and does not constitute financial advice.

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