In a major step toward expanding its capabilities in the power and infrastructure manufacturing space, Zetwerk Manufacturing Businesses Pvt Ltd has acquired a majority stake in KRYFS Power Components Ltd, a long-established manufacturer of transformer components. This acquisition strengthens Zetwerk’s role in India’s growing energy and electrification sector by combining its supply chain network with KRYFS’s specialized expertise in transformer solutions. Together, the companies aim to meet rising domestic and global demand in the energy equipment space.
The partnership merges Zetwerk’s large-scale manufacturing capabilities and international supplier base with KRYFS’s technical know-how, NABL-certified labs, and a network of 10 operational plants across India. Notably, KRYFS is the only company in India currently producing 765 kV transformer laminations and tanks.
“This collaboration helps us grow our footprint in the energy sector with proven manufacturing strengths,” said Amrit Acharya, CEO and Co-founder of Zetwerk. “KRYFS is a trusted name in transformer components, and this step allows us to offer broader and more advanced industrial solutions to both Indian and global markets.”
Acharya emphasized that the deal is part of a longer-term vision to support India’s self-reliance in core infrastructure. “We’re building the industrial foundation needed for India’s next phase—reliable, efficient, and ready to scale,” he said.
For KRYFS’s clients, which include power utilities and original equipment manufacturers, the acquisition brings a host of immediate advantages. One of the key benefits is improved traceability and quality assurance throughout the production cycle, ensuring that every stage of manufacturing meets the highest industry standards. This enhancement strengthens customer confidence in both product reliability and operational transparency.
Clients will also gain access to an expanded range of products, including CNC-machined components, solar modules, PCB assemblies, and substation structures. This broader offering enables KRYFS to serve as a one-stop solution provider, catering to multiple segments of the energy and industrial value chain.
Another significant advantage is the creation of a stronger global supply chain, with expanded sourcing capabilities across North and South America, Europe, and Southeast Asia. This geographical diversification reduces supply risks and ensures faster, more reliable delivery of products to customers worldwide.
The acquisition also paves the way for technology upgrades, such as predictive maintenance tools and transformer performance monitoring systems. These advancements will not only enhance operational efficiency but also help clients optimise asset performance over the long term.
“Our customers remain our top priority,” said Saif Qureishi, CEO & Managing Director of KRYFS. “This move helps us improve not just our scale, but the quality, reliability, and range of services we provide. It’s a unique alignment of a well-established engineering company with a fast-scaling manufacturing business.”
KRYFS’s leadership team, including its CEO, will remain in place to ensure continuity and smooth integration. The company’s workforce of more than 1,600 employees will see expanded training opportunities, upgraded equipment, and new project assignments across both domestic and global markets.
“This acquisition is about building a long-term advantage,” commented SrinathRamakkrushnan, COO and Co-founder of Zetwerk. “KRYFS has a strong track record in transformer components. Paired with Zetwerk’s manufacturing reach, we can deliver complete, high-capacity solutions that support India’s infrastructure goals and export potential.”
Toyota Tsusho Corporation (TTC), which has been a strategic investor in KRYFS since 2013, will continue its partnership with the company. This ongoing association underscores the confidence of global partners in KRYFS’s capabilities and growth potential.
India’s energy sector is poised for substantial growth, with an estimated $330 billion to be invested in infrastructure by 2030. The transformer segment alone is projected to reach $4.2 billion by the end of the decade. With KRYFS under its umbrella, Zetwerk is positioned to expand its role in CRGO steel laminations and transformer core manufacturing, turnkey substation and transmission projects, transformer tank fabrication, solar and renewable energy systems, as well as smart grid component production for both domestic needs and export markets.
Established in 1992, KRYFS is India’s largest manufacturer of transformer laminations, with offerings that include CRGO cores, tanks, solar solutions, and full-service EPC contracts in power infrastructure. Its products reach over 40 countries and support critical segments of India’s energy ecosystem. The company operates with a core philosophy rooted in values such as honesty, teamwork, and continuous improvement.
Zetwerk partners with global industrial and consumer businesses to manage large-scale manufacturing projects. Operating across sectors such as aerospace, energy, electronics, and infrastructure, Zetwerk connects businesses with manufacturers to deliver high-quality components at scale. In addition to production support, the company provides logistics, procurement, and financing services to streamline operations for its partners.
