Transformers and switchgear typically account for 15-20% of data-centre capex, implying a total addressable market of around ₹50,000 crore over five years, translating into annual new business opportunity of ₹10,000 crore. For perspective, CG’s power systems division generated revenue of ₹5,138 crore in FY26, accounting for 41% of the company’s total revenue.
