Transformers and Rectifiers India Ltd (TRIL) will start production at its Moraiya plant near Ahmedabad from June 2009. The company said that they will more-than-tripling capacity to 23,200 MVA in FY10.

“We will start production next month; first year we are expecting 3,000 to 4,000 MVA from that plant, next year around 10,000 MVA,” Jitendra Mamtora, chairman and managing director said.

The new plant will make transformers of above 220 kV class and the company had earmarked more than 8 billion rupees raised through an IPO for commissioning the plant, Mamtora said.

India faces peak power shortage of about 12-16 percent and plans to add 78,577 MW of power by 2012, which is expected to fuel growth in the electrical equipment industry.

“The market is going to be so huge, that whoever is having the capacity will benefit from demand that is going to come,” he said.

The Ahmedabad-based transformer maker is looking to grow revenues by 25 percent to 30 percent in FY10, Mamtora said.

The company reported 33.3 percent rise in its FY09 net profit to 441.2 million rupees on income of 4.31 billion rupees.

It supplies transformers to the industrial sector that has seen sluggish demand after the general slowdown, Mamtora said.

“As far as the demand for the rectifiers and furnace transformers (industrial segment) are concerned, it had slowed down a little bit.”

But demand from the chemicals and steel industry is picking up again and a revival of overall industrial demand is on the cards, he said.

Its pending order book as of April 30 stood at 4.7 billion rupees, of which orders worth about 2 billion were received in April, he added.

About 15 percent of that is from the industrial segment, while 20 percent from exports, about 8 percent from state-owned Power Grid and NTPC and the rest from power utilities, Mamtora said.