IMP Powers Ltd., a flagship company of the $ 120 million IMP-Mangalam group, is a name to be reckoned with in the manufacturing of quality EHV, power, distribution, and special purpose transformers. In an interview with Subhajit Roy, the company’s MD Aaditya Dhoot reveals IMP’s future roadmap. Excerpts:
Started business with energy meter manufacturing in 1961, today IMP Power is one of the top players in transformer manufacturing. How has the journey been so far?
We started our journey in 1961 as Industrial Meters Pvt Ltd. During this time, we were one of the largest manufacturers of analog meters, amp meters, power factor meters, energy power meters, test terminal blocks and various sets of testing equipment. The journey so far has been invigorating as we have learnt a lot through the process and have grown from strength to strength.
After being present in the power industry for almost 58 years, today IMP is a brand name! Its goodwill and brand recall value are amongst the best in the industry.
What is the market size for power and distribution transformers?
The market size in terms of power and distribution transformers would be 2.2 lacs and 1.1 lacs respectively in terms of MVA. The total market value is about Rs 14,500 crore.
What is your market share?
We are amongst the top 3 transformer manufacturers in the country in 132 and 220 kV class and upto 315 MVA.
What are the new products in pipeline?
We have recently launched Hydro Kinetic Energy Turbine, which is a breakthrough technology with a licensing agreement from SHP, Germany. This product works on the principle of kinetic energy, which is also called zero-head turbine. This is a plug-and-play model where all we need for installation is flowing water at a particular speed. We are quite thrilled about this diversification and know that it will be extremely crucial in the areas with smaller spaces.
In 2012, we launched our subsidiary IMP Energy Ltd., which is an end-to-end solution provider in EPC to provide clean and green power by setting up small and mini hydro power plants in the country.
We are the first company to successfully commission three SHP projects of KREDA (Kargil Renewable Energy Development Agency) in the tough terrains of Kargil, Ladakh, region of Jammu & Kashmir.
IMP is proud to inform that even at (-) 30-degree C, our workers are constantly working in remotest areas of the country. Also, in the last 2 years we are able to provide power to the Indian Army and the habitants of J&K.
IMP’s plant is working in (-) 28-degree C and generating 400kW output
As the renewable energy is gaining prevalence, how do you look at the scope for transformers business?
I feel, there is a huge scope for transformers businesses in 132/220 kV segment as renewables are getting integrated within the grid at 220 kV class. We are at the tip of iceberg in terms of transformers because the IPDS, SAUBHAGYA, and APDRP Scheme have started and feeder separation is extrapolated in the country then there is lot of electrification that needs to be done. Our per capita consumption is still around 1,100 kWh units whereas the world average is 7,000 kWh – so we are way too behind. Railways, metros and exports are other areas for growth. Replacement demand would be huge as the transformers installed in the 80’s would need to replaced.
Briefly tell us about your manufacturing facility and capacity.
IMP’s ultra-modern state-of-the-art transformer facility is located in Silvassa, around 168 km away from Mumbai, with an overall manufacturing capacity of 16,000 MVA per annum. The plant is ISO 9001:2008 and ISO 14000:2004 certified and includes facilities like air-conditioned winding shop, air-conditioned core building and CCA, vapour-phase drying oven and an in-house NABL accredited testing laboratory. IMP is one of the leading HV and EHV transformer manufacturers in India. All type tests as per Indian (IS) and International Standards (IEC, BS, ANSI etc.) for transformers up to 315 MVA, 400 KV class including impulse test, partial discharge and temperature rise tests are carried out within the factory premises.
How do you see the Indian transformer manufacturers gaining foothold in global markets?
The Indian transformer manufacturing industry has matured significantly in the last decade – more so in last 7 years. I believe there are some companies who have gained significant market share globally and simultaneously there have been world leaders who have expanded in India like Siemens, ABB, GE and TBEA. They have set up units and have doubled their capacity to cater to world market from India, making India a manufacturing hub.
As far as IMP is concerned, besides exporting regularly to Nepal, SAARC regions and Africa, we are now going to significantly look at exporting to Latin America in next 2-3 years.
What are some of your key recent achievements?
As I mentioned earlier, apart from transformers, we have diversified and created a separate vertical to provide electricity in the rural areas of Kargil. We only specialise in less than 5MW.
Our key achievement is that we are the only company in the country to successfully commission three SHP projects in the Kargil region under the Prime Minister’s Ladakh Renewable Energy Initiative.
Another accomplishment is that we are the first company in India to install Smart Hydro Kinetic Energy Turbines. Our pilot project in Neyveli lignite thermal power plants cooling canals is giving a PLF of 65-75 per cent with 1.30 lac units generated.
We are also the only company in India who have successfully short-circuit tested seven 160 and 100 MVA in 220 kV in a span of 24 months. We have received the most valued customer award for the year 2016-17 and 2017-18 from CPRI.
Where do you see IMP Power in five years?
We would aim to become the No.1 transformer manufacturing company in 132 and 220 kV class in the country. I personally aim to expand our global footprint and take IMP Powers all over the world with its significant revenue coming from exports.
Are you looking at any kind of merger and acquisition?
We are always open for an inorganic growth and if there is an opportunity we would definitely explore.