In my view, Danish Power is a comparable peer to Shilchar Technologies, given its significant presence in the inverter duty transformer segment. However, Shilchar stands out due to its stronger focus on exports, which contributes to its higher margin profile. Both companies are at similar capacity levels following their respective expansions.
Regarding the industry, the operating profit margin (OPM) in the ITD sector is generally higher than in the distribution transformer segment, where TARIL operates. Additionally, manufacturing high MVA distribution transformers presents a distinct set of challenges compared to power transformers, further highlighting the differences in the business models.
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