Marsons soars as Cleanhill JV targets US, Canada transformer market

Marsons surged 11.09% to Rs 132.25 after the company announced plans to form a joint venture with Cleanhill Partners to expand transformer distribution, servicing and manufacturing operations in the US and Canada.

The proposed joint venture will combine Marsons' transformer engineering and manufacturing capabilities and its experience executing projects in the US with Cleanhill Partners' market network, capital and operational expertise.

The companies said North America is facing a significant transformer supply gap, with manufacturing capacity constrained and lead times exceeding 24 months. The joint venture will target demand from utilities, renewable energy developers and other power infrastructure customers.

Marsons is currently executing transformer orders for major US renewable energy and utility projects, including generator step-up (GSU) transformers of up to 200 MVA and pad-mounted units across multiple locations.

The companies said their longer-term plan includes establishing full-scale transformer manufacturing operations in North America to cater to demand arising from grid modernisation, renewable energy expansion and data centre power requirements.

Cleanhill Partners is a New York-based private equity firm focused on energy transition and digital infrastructure, with investments across power generation, energy storage, grid modernisation, domestic manufacturing and related technologies.

Marsons operates a 45,000-square-metre manufacturing facility with a current annual capacity of 12,000 MVA and an ongoing expansion to 26,000 MVA. The company manufactures transformers rated from 11 kV to 345 kV and beyond and has approvals from Power Grid Corporation of India (PGCIL) and NTPC.

On a consolidated basis, Marsons' net profit declined 26.15% to Rs 5.93 crore while net sales rose 4.74% to Rs 49.26 crore in Q1 June 2026 over Q1 June 2025.

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