Company Overview
S&S Power Switchgear Limited is a 60-year-old Indian company headquartered in Chennai with significant international operations in Transmission & Distribution and Industrial Automation solutions. The company has three fully owned subsidiaries:
- S&S Power Switchgear Equipment Limited (SSPSE): High Voltage Disconnector manufacturer based in Chennai
- Acrastyle Limited: Protection and Control Panel solutions provider based in Ulverston, UK
- Hamilton Research & Technology Private Limited (HART): Customized H/W and S/W solutions for aluminum plants based in Kolkata
The group has reinvented itself starting February 2024 with corporate restructuring and induction of a new management team.
Q2 FY27 Financial Performance (Amounts in Lakhs)
| Particulars | Q2 FY'26 | Q2 FY'27 | YTD FY'26 | YTD FY'27 |
| New Orders | 10,253 | 10,838 | 18,973 | 14,597 |
| Revenue | 6,106 | 7,379 | 12,148 | 14,544 |
| EBIDA | (197) | (158) | 213 | 63 |
| EPS | 2.38 | (1.97) | 3.81 | (2.18) |
Key Business Highlights
- The group continues its growth trajectory in FY27 with ~20% increase in YoY revenue for Q2
- Order backlog remains robust with continued record order inflows for Automation business
- Margins are stable and EBIDA is expected to further improve during the second half of FY27
- Prior-year EPS benefited significantly from DTA (Deferred Tax Asset) recognition
- Phase-I of capacity expansion for Acrastyle completed and operational since July 2026
- HART secured largest order from Vedanta Ltd and has finalized New Factory + Advanced Test Centre
Strategic Direction and 3-Year Plan (FY2026-2028)
The group is executing a comprehensive 3-year strategic plan focusing on:
1. Technology & Product Portfolio Investment: Developing competitive advantages through new product development including 800 kV class Disconnectors
2. Global Footprint Expansion: Expanding into select international markets
3. Factory Modernization & Scaling: Expanding capacities at current sites, exploring new sites with lean manufacturing layouts, and leasing additional office areas
4. Quality, EHS & Compliance: Implementing zero deviation policy through training for sustainable growth
5. IT Systems Enhancement: Strengthening IT infrastructure, information security, and cyber security
Financial Targets
- Targeting to double 2025 revenue by 2028
- Targeting EBIDA margins of 12-15% by March 2028
- Aiming to become debt-free by March 2028
Leadership and Governance
The group has a strong, diverse and accomplished Board of Directors with clear focus on strategy, governance and compliance. Key leadership includes:
- Krishnakumar Ramanathan: MD & Group CEO with over 30 years of industry experience
- N Balasubramanian: CEO with expertise in Business Development and Plant Operations
- Vikas Arora: CEO with expertise in the Aluminium industry
- Nicholas Dunn: CEO with industry experience in electrical sector
The company is investing in professional teams, systems, learning and development, ESOPs and work culture.