KRYFS Power Components: A Premier Transformer Lamination and Core Manufacturer

Saif Qureishi Co-founder & CEO | Insights Success | Business Magazine

Established in 1992, KRYFS Power Components Ltd. is a Transformer Lamination and Core manufacturer, which is recognized as one of the most trusted Indian brands in the lamination category. The company is the first ISO 9001:2008, 14001:2004 and OSHAS 18001:2007 accredited transformer lamination and core facility in the country. By crafting out transformers upto 10 MVA, 33 KV class, KRYFS has become the largest manufacturer of transformer tanks and is engaged in Power distribution projects – Engineering, Procurement and Construction in four states across India. The company also provides green solar power to several industries with Power Purchase Agreements (PPA’s) of about 3 MW on rooftops.
With more than 750 employees engaged in its 8 state-of-the-art manufacturing units operational, KRYFS delivers end-to-end power solutions from generation to distribution to help India achieve its goal of being completely electrified by 2025. Its domain expertise, innovative technology, a legacy of excellence and commitment to provide sustainable power solutions is exploring and transforming the power industry to the grassroot level! Giving utmost significance to its team and customers since inception, today, the company is catering prominent solutions to more than thirty countries across the globe.
With sheer determination and concrete endeavors, KRYFS reported a consolidated annual turnover of Rs. 700 Crs. from product range which enhanced the entire value chain of power transmission and distribution. It is the only company in its sector to be privileged with a strategic investment from Toyota Tsusho Corporation, Japan.
The Professional Journey
Saif Qureishi, an IIM-B graduate and his father F.B.Qureishi (fondly known as FBQ) are the Co-founders, who framed KRYFS Power Components Ltd. with a little capital. Before setting the cornerstones of the company, FBQ holded the reins of a small manufacturing unit in Mumbai, which was unable to create its niche in the complex market. Acknowledging Saif’s passion for entrepreneurship, FBQ decided to shut down his business and support Saif in setting up his business venture KRYFS. While FBQ handled the finance, Saif started focusing on expanding the business. Later, Saif’s hunger to be an entrepreneur led him to be the CEO of the company.
Over the years, Saif had successfully gained associations with various industry organizations like IEEMA, ITMA, CII and IIMBAA. Under his aegis, KRYFS has transformed the lamination industry from Secondary CRGO (raw material) to Prime CRGO.
KRYFS – A One-of-its-kind Company
CRGO electrical steel is a material manufactured by only a handful of countries around the world. As such, it is imperative to have a good relationship and a constant supply of raw material to generate profitable outcomes and march beyond the success horizons. Working with the same vision is KRYFS, which is not only the preferred supplier to most of the large and prestigious transformer manufacturers in India and abroad, but also a preferred customer for most of the CRGO mills around the world.
The company is amongst the first to introduce ‘step lap lamination’ in India, which actually reduced the no-load-loss of transformers by six to eight percent, without additional charges. It is the only company to offer both tanks and transformer laminations upto 765 KV class, which are the highest rating of commercially produced transformers in the country.
The company has received several awards from Engineering Export Promotion Council for six consecutive years, the Asscocham Innovation Award, and the India’s Small Giant Award to name a few.
For any growing organization, the biggest challenge is to build a robust, competent and committed team of people – ultimately people are the primary pillars of an organization. KRYFS is a value-driven company, which has always embraced values above business. Since inception, the company proudly cherishes its 7 H values of –
Honesty | Humility | Helpful nature | Humanitarian Approach | Hardwork | Happy Outlook | Hamesha Kaizen (always improving)
The Current Scenario
Currently, with the various government schemes like DDUGVY, IPDS, Saubhagya, etc. the demand for electrical equipment is increasing to its best. The end customer as well as the state utilities are not in good financial health, thereby impacting the food chain. Further, intense competition from Chinese players has a severe pressure on margins.  Also, the tightening of fund availability by the banking industry has created a cash crunch in the electrical industry.
“Thus, I would say the current scenario in the electrical equipment industry is satisfactory from a demand perspective but gloomy from a cash flow perspective,” says Saif.
Future Endeavors
Consistently focusing on growth and prosperity of all its stakeholders, KRYFS aims to be a globally recognized player in which ever product or service it offers. By providing optimal quality, great value and delightful service to its customers, the company is on a mission to achieve scale and excellence to its core. The company also intends to pay a greater attention to solar rooftop business along with energy storage (batteries) along with exploring the applications of IIoT, AI and ML in the electrical equipments industry, to make the equipment more predictable and the supply more robust!

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