Have to look out for the size & capex spent here.
CRGO steel constitutes approximately ~30% of the raw material cost of transformer. Thyssenkrupp has set up a plant in Nashik for 50K tonnes per year. But, India’s consumption of CRGO steel is around 300K tonnes per year. So mostly it is imported, not many companies in the world can produce this high grade steel.
More info here in this interview → CRGO steel is critical to India’s de-carbonization goals: Thyssenkrupp Electrical Steel -
Also JSW & Japan’s JFE have recently setup a JV to produce CRGO steel. This would benefit all the transformer companies in India. jsw steel: JSW Steel, Japan's JFE to set up JV for manufacturing of CRGO steel - The Economic Times
Disc: Invested
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