Zetwerk Acquires KRYFS Majority Share to Boost India’s Manufacturing and Energy Transition

Zetwerk Manufacturing Businesses Pvt Ltd, a leading digital manufacturing platform, has acquired a controlling stake in KRYFS Power Components Ltd., a market leader in transformer solutions, marking a major development in India’s power and infrastructure manufacturing landscape.

The acquisition positions Zetwerk at the forefront of India’s energy and electrification drive, combining its digital-first supply chain and global manufacturing network with KRYFS’s engineering expertise, NABL-accredited labs, POWERGRID-approved facilities (up to 765 kV), and 10 operational plants. KRYFS is the only Indian company manufacturing 765 kV class transformer laminations and transformer tanks.

“Zetwerk’s mission has always been to build the most reliable and digitally-enabled manufacturing platform for the world. With KRYFS, we are deepening that promise in the Energy Transition space,” said Amrit Acharya, CEO and Co-founder of Zetwerk. “This is about building an industrial backbone for India’s next decade—electrified, digitized, and self-reliant.”

The integration will offer KRYFS customers—ranging from transmission utilities to transformer OEMs—enhanced services including:

• Digitally enabled quality control and traceability via Zetwerk OS
• Expanded offerings such as CNC machined parts, solar PV modules, PCB assemblies, and substation fabrication
• Global sourcing resilience with Zetwerk’s presence across multiple continents
• IoT-enabled innovations like smart transformer health monitoring

“Our customers are at the heart of this journey,” said Saif Qureishi, CEO & MD of KRYFS. “We’re bridging the old economy with the new—what we call the NOW Economy—where legacy expertise meets modern innovation.”

KRYFS’s current management will remain in place, with its 1,600+ employees joining Zetwerk’s ecosystem, gaining access to global project exposure, predictive maintenance tools, and advanced training programs.

Srinath Ramakkrushnan, COO and Co-founder of Zetwerk, added: “Together, we’re not just expanding capacity, we’re building a future-ready, vertically integrated platform to power India’s growth and export India’s excellence to the world.”

Toyota Tsusho Corporation, a strategic investor in KRYFS since 2013, will maintain its partnership with the company.

India’s power and energy infrastructure investment is projected to reach $330 billion by 2030, with the domestic transformer market expected to double to $4.2 billion. With KRYFS, Zetwerk aims to lead in CRGO steel lamination, transformer tank fabrication, HV substation turnkey solutions, renewable energy infrastructure, and smart grid component manufacturing for export.