Best 5 Data Center Power Equipment Companies in India
India is emerging as one of Asia’s fastest-growing data center markets, with operational capacity estimated at 1.6–1.7 GW by 2026 and a multi-gigawatt development pipeline underway. Artificial intelligence, cloud adoption, data-localisation mandates and hyperscale investment are together pushing rack densities — and power requirements — sharply higher. This buildout is creating a parallel investment opportunity in the data center power equipment market in India: transformers, high- and medium-voltage switchgear, electrical distribution systems and backup power generation. Industry research consistently flags power distribution, switchgear, UPS systems and diesel generators as the core capital-equipment categories behind every new facility.
As rack densities climb with AI training and inferencing workloads, the electrical architecture inside and around a data center is becoming as strategically important as the real estate itself — which is why power-equipment manufacturers, not just data-center developers, are drawing increasing investor attention. Five NSE-listed companies sit at different points along this data center electrical infrastructure supply chain in India — Hitachi Energy India, CG Power & Industrial Solutions, ABB India, Cummins India and Marine Electricals — and each offers a distinct way to gain exposure to the theme.
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Best 5 Data Center Power Equipment Companies in India
1. Hitachi Energy India — Grid-to-Rack Infrastructure
Hitachi Energy India offers the broadest footprint among Indian data center transformer and switchgear companies, spanning Grid Automation, Grid Integration, Transformers, High Voltage Products and a standalone Service unit carved out in April 2025. It runs 19 manufacturing plants across eight locations with roughly 2,800 employees, and has built a dedicated “Grid to Rack for Data Centers” offering — including a 220kV/140MVA transformer engineered for the high dynamic short-circuit stress typical of data-center loads, and dry-type transformers upgraded for tighter thermal and enclosure tolerances (bus-bar temperatures capped at 105°C, IP-23 to IP-31 protection).
The company claims roughly one in two Indian hyperscale data centers already runs on its equipment, and has delivered project-level proof: a 220kV GIS substation for a data center in Pune and a 3×220kV AIS transformer bay-extension order in Hyderabad. These sit within a record order backlog of ₹29,555 crore, up 53.5% year-on-year — giving multi-quarter revenue visibility well beyond data centers alone.
Financially, FY26 revenue rose 27.6% to ₹8,147.7 crore, with PAT up 157% to ₹987.8 crore and operating margin expanding sharply to 15.4% from 9.3%. Capex commitment stands at a cumulative ₹4,000 crore, including a new ₹2,000 crore greenfield large-power-transformer plant at Karjan, Vadodara — general-purpose capacity that will also serve utility, rail and renewables demand, not data centers exclusively.
Investment read: Hitachi Energy India does not disclose a segment-specific data-center revenue figure, so the sector should be treated as a credible upside layered onto an already strong, diversified transmission and HVDC business — not as a standalone valuation driver. Its manufacturing depth and record order backlog do, however, make it one of the more resilient ways to gain India data center transformer market exposure without concentration risk in a single vertical.
2. CG Power & Industrial Solutions — data center transformer and switchgear companies
CG Power operates across Industrial Systems, Power Systems, Consumer and an emerging Semiconductors vertical, with FY26 consolidated revenue of ₹12,418 crore. Its clearest data-center milestone is an approximately ₹900 crore power-transformer order for a US hyperscale data-center project — the company’s largest export order to date.
Behind that order sits a rapid capacity build-out: transformer capacity has scaled from roughly 23,000 MVA to about 75,000 MVA within a year, with a new Madhya Pradesh facility due online in Q2 FY27. A separate ₹748 crore investment will double switchgear capacity by 2027–28, and EHV switchgear capacity at Nashik has already grown 80%. Standalone order backlog reached ₹17,333 crore in Q1 FY27 (+45% YoY), with the Power Systems backlog alone at ₹14,434 crore (+59% YoY).
Management has been deliberately non-committal on segment breakdowns. CEO Amar Kaul confirmed data centers are contributing to orders but stressed CG will “not go all about one particular segment,” framing AI-driven data-center demand as one of several structural, multi-decade growth drivers alongside utilities, renewables and oil & gas.
FY26 consolidated PAT grew 23% to ₹1,196 crore, and Q1 FY27 standalone margins expanded 140 basis points, aided by a ₹3,000 crore QIP completed in mid-2025.
Investment read: the ₹900 crore order is real, proven revenue rather than aspiration — CG’s largest single order in its history — but it remains one variable in a diversified, well-capitalised order book rather than a re-rating catalyst on its own. The scale of its capacity expansion suggests management is positioning for repeat, not one-off, data center transformer manufacturing in India business, which is worth monitoring in coming quarters.
3. ABB India — The Most Quantified Data-Center power electrical equipments
ABB India operates through Electrification, Motion, Process Automation and a divested Robotics arm, tracking 23 market segments of which Data Center sits in the top “high-growth” tier alongside Electronics and Renewables. Uniquely among its peers, ABB has put a number on the opportunity: management disclosed that data-center orders made up 15–17% of base orders in a recent quarter, with roughly half of India’s hyperscale facilities said to run on ABB solutions.
Its relevant product line covers low-voltage panels, remote power panels, gas-insulated switchgear and Ring Main Units, with named wins including LV panels for data-center operators in Mumbai and Pune and colocation orders across western and southern India. A second Nelamangala manufacturing site was launched specifically to house new data-center-oriented products, while group-level R&D in 800VDC and medium-voltage DC distribution is positioned to support the next generation of high-density facilities.
FY25 revenue reached ₹13,203 crore with PAT of ₹1,668 crore, though EPS declined from the prior year on margin compression; more recent quarters show orders up 50% and revenue up 21%, but profit growth lagging at single digits as copper and metal costs bite. Half-year order backlog stood at ₹11,900 crore, with roughly 40% expected to convert to revenue within two quarters.
Investment read: ABB is the only Data Center Power Equipment Companies in India that disclosing an actual quarterly order-share figure rather than qualitative language, making its data-center exposure the most measurable of the five — though investors should watch whether that disclosure becomes a consistent, multi-quarter trend rather than a one-off data point, and whether profit growth catches up with order growth. For anyone specifically screening for data center electrification companies in India, ABB’s combination of disclosed order share and hyperscale penetration claims makes it a natural starting point for further diligence.
4. Cummins India — power electrical equipments manufacturer
Data centers need uninterrupted power as much as they need grid connections, which places Cummins India — supplier of high-horsepower diesel generator sets — in a particularly favourable position. Operating across Power Generation, Industrial, Distribution and Exports, Cummins delivered the most striking single data point among all five companies: data centers accounted for 40% of domestic power-generation revenue in Q1 FY27, up from 23% a year earlier, and were the primary driver of that segment’s 35% year-on-year growth.
Its QSK60 engine currently dominates Indian data-center volumes, with rising inquiries for the larger QSK78 and QSK95 as hyperscale facilities scale up. Management describes demand visibility extending into “next year and the year after,” with customers increasingly asking to prepone rather than delay deliveries — a notable counter-signal to broader concerns about hyperscaler capex slowdowns. Utilisation stands at 70–75%, and a decision on dedicated capacity for the largest engines remains under evaluation.
FY26 standalone revenue reached ₹12,143 crore, but commodity inflation in steel, aluminium and copper has compressed gross margins, and management has declined to commit to a timeline for margin recovery.
Investment read: the 40% figure is powerful but relates to domestic power-generation revenue, not total company revenue — power-gen sales of ₹1,424 crore against total quarterly sales of ₹3,375 crore put data centers closer to ~17% of the whole company. Genset orders are also inherently lumpy, and capacity constraints on the largest engines could cap how fast inquiry growth converts into realised revenue. Still, as the clearest data center backup generator company in India, Cummins captures a layer of the value chain — mission-critical uptime — that neither transformer nor switchgear suppliers can substitute for.
5. Marine Electricals — Specialist in Data Center Power Equipment Companies in India
Marine Electricals (MEIL) is the smallest Data Center Power Equipment Companies in India in this group but the most explicitly positioned around data centers as a strategic pillar. Its Industry segment — covering LV/MV switchgear, busduct, automation and building-management systems – best power equipments india — grew 38.5% to ₹371 crore in FY25, alongside a Marine/Defence segment serving the Navy and Coast Guard.
The company cites repeat business from Adani Connex, Web Werks, STT, Bridge Data Centres, Netmagic, Princeton Digital Group and global entrants Equinix and BAM-DLR, a few data center companies in India – backed by products such as the MEcubE+ and licensed Blokset LV switchboards (MEIL is Schneider Electric’s largest Blokset partner in India), MEpower+ MV switchboards and MEConnect+ energy-management systems.
Consolidated revenue rose to ₹767 crore in FY25 with PAT of ₹38 crore, and a ₹108.2 crore preferential equity issue plus ₹41 crore of convertible warrants sharply reduced leverage — standalone debt-to-equity fell from 0.34 to 0.08. However, the order book actually declined about 13% year-on-year to ₹524 crore, and capex has stayed flat rather than signalling a dedicated data-center capacity build.
Investment read: Marine Electricals offers the most direct listed exposure to in-facility data-center power electrical equipments systems, but data centers are not broken out from the broader Industry segment, which also serves steel, cement, pharma and auto customers — making the true scale of DC-specific revenue an estimate rather than a disclosed fact, and the order-book contraction and disclosure opacity are real risks to weigh. A separate arbitration liability tied to a legacy solar EPC dispute, and disputed tax demands running into several crore, add to the diligence checklist for a company of this size, even as its deleveraged balance sheet gives it more room to absorb setbacks than it had two years ago.
Comparing the Five Data Center Power Equipment Companies in India
Across grid connection (Hitachi Energy), transformers and switchgear at scale (CG Power), electrical distribution (ABB), backup generation (Cummins) and specialised in-facility systems (Marine Electricals), these Data Center Power Equipment Companies in India span the full data center power infrastructure value chain.
Only ABB and Cummins currently disclose quantified, segment-level data-center figures; Hitachi Energy and CG Power rely on named projects and qualitative management commentary; Marine Electricals discloses the least, despite arguably the most concentrated positioning. Financial quality also varies: Hitachi Energy shows the sharpest margin inflection, CG Power the fastest capacity expansion, ABB the clearest order-growth-versus-margin tension, Cummins the most dramatic revenue-mix shift, and Marine Electricals the steepest balance-sheet repair alongside the softest order book.
Outlook on Data Center Power Equipment Companies
The case for owning any one — or a basket — of these best power equipments India companies does not rest on the slogan that “data centers are booming.” It rests on the fact that India’s AI-driven infrastructure cycle is creating structural, multi-year demand across transformers, switchgear, electrical distribution and backup power — the physical layer every data center depends on regardless of which cloud provider or hyperscaler ultimately occupies it. That gives investors exposure to the theme without betting on any single hyperscaler’s fortunes.
What should decide which company among these Data Center Power Equipment Companies, and how much, to own is disclosure quality and order-book durability: ABB and Cummins currently offer the most measurable evidence of data-center contribution, Hitachi Energy and CG Power the broadest and best-capitalised platforms, and Marine Electricals the most concentrated and best power equipments India but least-disclosed exposure.
To get the best Data Center Power Equipment Companies in India, the prudent approach is to track four things going forward — data-center-specific order disclosures, transformer and switchgear capacity additions, generator utilisation and hyperscale customer wins — and to size any position according to how directly, and how transparently, each company’s revenue actually follows the data-center build-out, rather than on the strength of the macro narrative alone.