Press Release
VIS Upgrades Entity Ratings of Transfopower Industries (Pvt) Limited
Karachi, November 11, 2026: VIS Credit Rating Company Limited (VIS) upgrades entity ratings of Transfopower Industries (Pvt) Limited at ‘A/A2’ (Single A /A two). Medium to long term rating of ‘A’ indicates Good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy. Short term rating of 'A2' indicates Good likelihood of timely repayment of short-term obligations with sound short-term liquidity factors. Outlook on the assigned rating is Stable. Previous rating action was announced on September 04, 2025.
Incorporated in 1993 as a private limited company, Transfopower Industries (Private) Limited (‘TIPL’ or ‘the Company’) is involved in manufacturing and sale of Transformers and Energy Meters. It operates within the electrical equipment manufacturing industry and is an ISO certified entity with a history of over three decades. The Company's registered office and plant is located at 2-KM Katar Bund Road, Thokar Niaz Baig, Lahore, Pakistan.
The assigned ratings are supported by expected growth in electricity consumption, Pakistan’s relatively low per capita power consumption compared to regional peers, the replacement cycle of transformers, and the ongoing shift toward smart and AMI metering, with these factors expected to sustain favorable demand prospects for the Company. Moreover, the ratings also incorporate Company’s sound financial risk profile, characterized by a recovery in topline during FY26, improving profitability, a sizeable order book, and a healthy pipeline of contracts. Liquidity profile is considered adequate, while debt coverage metrics remain strong.
For further information on this ratings announcement, please contact on 021-35311861-64 or email at info@vis.com.pk.
Applicable Rating Criteria:
Industrial Corporates
https://docs.vis.com.pk/Methodologies-2026/Corporate-Rating-2026.pdf
VIS Issue/Issuer Rating Scale
https://docs.vis.com.pk/docs/VISRatingScales.pdf