Zetwerk Takes Majority Stake in KRYFS Power Components to Strengthen Energy Manufacturing Sector
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In a significant move for India's industrial and energy infrastructure sector, Zetwerk Manufacturing Businesses Pvt Ltd has acquired a controlling stake in KRYFS Power Components Ltd, a leading producer of transformer solutions.
The deal brings together Zetwerk's digital manufacturing platform and KRYFS's decades of engineering expertise to address the growing demand for advanced power and electrification solutions in India and abroad.
With this acquisition, Zetwerk expands its presence in the electrical and renewable energy manufacturing space. KRYFS operates 10 plants across the country and is the only Indian firm to produce 765 kV class transformer laminations and transformer tanks. The company's facilities are NABL-accredited and approved by POWERGRID for projects up to 765 kV.
"Zetwerk's mission has always been to build the most reliable and digitally enabled manufacturing platform for the world," said Amrit Acharya, CEO and Co-founder of Zetwerk. "With KRYFS, we are deepening that promise in the energy transition space. KRYFS has been an enduring symbol of trust in power component manufacturing. Their domain leadership and commitment to quality make them a natural fit for us. This partnership is about shaping the next generation of infrastructure manufacturing solutions in India, for India and for the world."
Acharya added, "This is about building an industrial backbone for India's next decade—electrified, digitized, and self-reliant."
For KRYFS customers, including transformer manufacturers, turnkey project players, and transmission utilities, the integration promises improved supply continuity, digitally enhanced quality, and expanded offerings such as CNC machined parts, solar modules, and substation fabrication.
"Our customers are at the heart of this journey," said Saif Qureishi, CEO and Managing Director of KRYFS. "With Zetwerk, we are not only safeguarding our legacy of quality and trust but also elevating it. This partnership brings together the strengths of a 33-year-old industry leader and a dynamic seven-year-old new-age company. It is a powerful fusion where legacy expertise meets modern innovation to unlock greater value."
KRYFS's leadership team will continue to run operations, ensuring continuity for its workforce of more than 1,600 employees. Zetwerk's global network will also open access to advanced manufacturing tools, predictive maintenance systems, and international project exposure.
Srinath Ramakkrushnan, COO and Co-founder of Zetwerk, noted, "KRYFS brings a legacy of engineering depth and trust that perfectly complements Zetwerk's speed, scale, and digital execution. Together, we are building a future-ready, vertically integrated platform to power India's growth and export excellence worldwide."
Toyota Tsusho Corporation, a long-standing strategic partner of KRYFS, will continue its association with the company.
With India projected to invest USD 330 billion in power and energy infrastructure by 2030, the partnership aims to capture a significant share of a domestic transformer market expected to double to USD 4.2 billion within the decade.
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