Reliance Capital picks up 26% stake in Victory Transformers

New Delhi, Aug 24 (UNI) Reliance Capital, through its private equity arm has aqcuired 26 per cent stake in Hyderabad-based Victory Transformer and Switchgear Ltd (VTSL) for Rs 75 crore.

VTSL primarily manufactures power transformers, but it is vertically integrated and manufactures related products like Unitised Substation, Transformer Core, Vaccum Circuit Breaker, Insulators and Transformer Oil.

It also supplies to State Electricity Boards across India and to major EPC contractors.

The company's revenue has grown at a CAGR of 89 per cent over the last two years, and it has an order book of over Rs 200 crore, a statement said.

VTSL is raising funds for expanding the existing transformer capacity and is considering acquisitions in the near future.

''Turnover is expected to reach Rs 225 crore during the current financial year, and maintain high double digit growth rates in the future,'' the statement added.

UNI