In a landmark development for India’s power and infrastructure manufacturing landscape, Zetwerk Manufacturing Businesses Pvt Ltd, a digital manufacturing platform, has acquired a controlling stake in KRYFS Power Components Ltd., a market leader in transformer solutions.
This strategic move positions Zetwerk at the forefront of India’s energy and electrification revolution, combining cutting-edge digital manufacturing with decades of engineering excellence to serve a fast-growing, innovation-hungry global market.
The acquisition creates one of India’s most formidable players in electricals and renewables manufacturing, blending Zetwerk’s digital-first supply chain platform and global manufacturing network with KRYFS’s deep domain expertise, NABL-accredited labs, POWERGRID-approved facilities (up to 765 kV), and 10 fully operational plants across the country. KRYFS is the only company in India to manufacture 765 KV class transformer laminations and transformer tanks.
“Zetwerk’s mission has always been to build the most reliable and digitally-enabled manufacturing platform for the world. 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 in transformer components and unwavering commitment to quality make them a natural fit for us. This partnership isn’t just about scale, it’s about shaping the next generation of infrastructure manufacturing solutions in India, for India and for the world,” said Amrit Acharya, CEO and Co-founder, Zetwerk.
“This is not just about one company acquiring another,” added Acharya. “This is about building an industrial backbone for India’s next decade—electrified, digitized, and self-reliant.”
For KRYFS’ valued customers—including transmission utilities, transformer OEMs, and turnkey players—the integration with Zetwerk unlocks a host of tangible benefits:
- Digitally enhanced quality with end-to-end traceability via Zetwerk OS—from slit coil to final assembly
- Expanded offerings including CNC machined parts, solar PV modules, PCB assemblies, and substation fabrication
- Global sourcing resilience through Zetwerk’s footprint in India, North America, South America, Europe, and Southeast Asia
- IoT-enabled innovation, including smart transformer health monitoring and data-driven maintenance solutions
“Our customers are at the heart of this journey,” said Saif Qureishi, CEO & Managing Director of KRYFS. “With Zetwerk, we’re not only safeguarding our legacy of quality and trust—we’re elevating it. We’re offering smarter solutions, greater capacity, and the confidence of supply continuity backed by global systems and capital strength. This partnership brings together the strengths of a 33-year-old industry leader and a dynamic 7-year-old new-age company—bridging the old economy with the new. It’s a powerful fusion we call the NOW (new+old world) Economy—where legacy expertise meets modern innovation to unlock greater value.”
KRYFS’ existing management team, including its CEO, will continue to lead the company, ensuring continuity and stability through this new chapter. KRYFS’ 1,600+ employees, spread across its 10 plants, will now be part of Zetwerk’s digitally enabled, high-performance ecosystem. From predictive maintenance to real-time production dashboards, CNC training to global project exposure, the acquisition will open new learning and growth pathways for every team member.
“At Zetwerk, we’ve always believed that India can be the global factory for critical infrastructure and energy solutions. This partnership with KRYFS reinforces that belief. KRYFS brings a legacy of engineering depth and trust that perfectly complements Zetwerk’s speed, scale, and digital execution. Together, we’re not just expanding capacity, we’re building a future-ready, vertically integrated platform to power India’s growth and export India’s excellence to the world,” said Srinath Ramakkrushnan, COO and Co-founder of Zetwerk.
Toyota Tsusho Corporation (TTC), a sister company of Toyota Motor Corporation and a long-standing strategic investor in KRYFS since October 2013, will continue its partnership with the company.
India is projected to invest $330 billion in power and energy infrastructure by 2030, driven by renewable energy adoption, grid expansion, EV acceleration, and urbanization. The domestic transformer market alone is expected to double to $4.2 billion by the end of the decade. With KRYFS, Zetwerk is now uniquely positioned to lead in:
- CRGO steel lamination and core manufacturing
- Turnkey for HV substations and transmission lines
- Transformer tank and fabrication solutions
- Renewables and solar infrastructure
- Smart grid component manufacturing and export
About KRYFS Power Components Ltd.
Founded in 1992, KRYFS is India’s largest manufacturer of transformer laminations and a trusted name in energy infrastructure. Its product portfolio spans CRGO laminations, transformer cores and tanks, turnkey solutions, and solar projects. With over 1,600 employees and 10 plants across India, KRYFS serves critical sectors driving India’s energy security and power resilience and exports to over 40 countries across the world. Kryfs is built on its 7H values—Honesty, Humility, Humaneness, Helpful Nature, Hard Work, Happiness, and Hamesha Kaizen, which remain at the heart of everything it does.
About Zetwerk Manufacturing Businesses:
Zetwerk is a managed marketplace for contract manufacturing. Zetwerk partners with the world’s leading industrial and consumer enterprises to get their products manufactured via a global network of small manufacturers, where Zetwerk helps with supplier selection, pricing and fulfillment of orders. Zetwerk offers manufacturing solutions across industries such as Precision Manufacturing, Aerospace & Defence, Renewables, Consumer Electronics, Oil & Gas and Infrastructure For customers, Zetwerk’s manufacturing network ensures products are made faster, at competitive prices and with world-class quality. For manufacturing partners, Zetwerk drives higher utilization of manufacturing capacities and offers various portfolio services (including logistics, raw material procurement, working capital access) to drive revenue growth and optimize manufacturing costs.
