Zetwerk acquires majority stake in KRYFS to power India’s energy future

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Zetwerk acquires majority stake in KRYFS to power India’s energy future

Zetwerk acquires majority stake in KRYFS to power India’s energy future

Industry News
Aug 19,25

This strategic acquisition creates a stronger platform for India’s energy transition with advanced digital manufacturing and transformer expertise.

Zetwerk acquires majority stake in KRYFS to power India’s energy future

Mumbai

In a landmark development for India’s power and infrastructure manufacturing sector, Zetwerk Manufacturing Businesses Pvt Ltd, a digital manufacturing platform, has acquired a controlling stake in KRYFS Power Components Ltd, a leader in transformer solutions.

This strategic acquisition positions Zetwerk at the forefront of India’s energy and electrification drive, combining advanced digital manufacturing with decades of engineering expertise to serve both domestic and global markets.

The integration creates one of India’s most formidable players in electricals and renewables manufacturing. Zetwerk’s digital-first supply chain and global network will complement KRYFS’s deep domain expertise, NABL-accredited labs, POWERGRID-approved facilities (up to 765 kV), and 10 operational plants across India. KRYFS is the only company in India manufacturing 765 KV class transformer laminations and transformer tanks.

“Zetwerk’s mission has always been to build the most reliable, digitally-enabled manufacturing platform. With KRYFS, we are deepening that promise in the energy transition space. Their leadership in transformer components and commitment to quality make them a natural fit. This partnership is not just about scale—it’s about shaping the next generation of infrastructure manufacturing in India and for the world,” said Amrit Acharya, CEO and Co-founder, Zetwerk.

“For KRYFS customers—including transmission utilities, transformer OEMs, and turnkey players—the integration brings benefits such as: digitally enhanced quality with full traceability, expanded product offerings, resilient global sourcing, and IoT-enabled innovation like smart transformer health monitoring,” Acharya added.

Saif Qureishi, CEO and Managing Director of KRYFS, said, “With Zetwerk, we are safeguarding and elevating our legacy of quality and trust. This partnership merges the strengths of a 33-year-old industry leader and a dynamic 7-year-old digital disruptor, bridging the old economy with the new to unlock greater value.”

KRYFS’ existing leadership team will continue to manage operations, while 1,600+ employees across its 10 plants will gain access to Zetwerk’s digitally enabled ecosystem and global exposure.

Srinath Ramakkrushnan, COO and Co-founder of Zetwerk, said, “This partnership reinforces our belief that India can be the global factory for energy and infrastructure solutions. Together with KRYFS, we are building a future-ready, vertically integrated platform to power India’s growth and global exports.”

Toyota Tsusho Corporation (TTC), a long-standing investor in KRYFS since 2013, will continue its partnership.

India is projected to invest $330 billion in power and energy infrastructure by 2030, driven by renewables, grid expansion, EV adoption, and urbanization. The domestic transformer market is expected to double to $4.2 billion by the decade’s end. Zetwerk and KRYFS are now well-placed to lead in CRGO steel lamination, transformer tanks, turnkey HV substation projects, solar infrastructure, and smart grid component manufacturing.

Founded in 1992, KRYFS is India’s largest manufacturer of transformer laminations and a trusted partner in energy infrastructure, exporting to over 40 countries. Zetwerk, founded in 2018, is a global digital manufacturing platform serving industries from renewables to aerospace, enabling faster, cost-effective, and high-quality production through its global network.