Fuzi Electric is the new NUMERO UNO
Fuji Electric India Pvt. Ltd.  bagged the most Prestigious SD's No1. Power Electronics Company of the year award.

The Fuji  are  also the SD's No.1 Three Phase UPS Manufacturer of the year, They are also the SD's No. 3 Single Phase UPS Manufacturer of the year.   Making it the most successful UPS brand in the country.

The company netted the total revenues of 875.00 crores, a growth of 42.74 crores from previous year's turnover. It achieved in 2022-23. This is the total revenue earned thru Energy Business alone. However the revenue earned thru sale of UPSs alone stood at 721 crore.

However Fuji Electric are the SD's No.1 Online (Three Phase) UPS company of the year with Online (Three Phase) UPS sales amounting to 565.00 crores. Fuji Electric are also the SD's No. 3 Online (Single Phase) UPS Company of the year earning revenue to the tune of 119 crore. Modular UPS sale accounted 29.18 crore while Offline UPSs accounted for   7.84 crore 

All these makes Fuji Electric a high growth oriented company, especially in the wake of expansion of the already existing unit and increased requirement of Three Phase systems with in a country.

Next in the league was the was a company, maintaining  its businesses successfully  making it to the 2nd spot in the SD's top 10 club, Kolkatta based Switching AVO Electro Power Ltd. Switching with a revenue of 338.16 crores has emerged as SD's No. 2 Power Electronic Company of the year. However the balance sheet suggested increased profits. Its a great performance by Switching amidst high competition they successfully emerged  on top as they become a SD's No 1 Online (Single Phase) UPS company of the year. 

Next in line are the Techser Power Solutions Pvt. Ltd. This fiscal 2022-23, Techser netted revenues to the tune of 165.87 crores up from 150.33 crores it netted in 2021-22. A good performance in a year when most companies are facing stiff competition. As such the company was crowned SD's No. 3 Power Electronic Company for the year 22-23. 

Up next are the Bangalore based Powerone Micro Systems Pvt. Ltd. They were crowned SD's No. 4 Power Electronic Company of the year. Company's  revenue increased by  9.81%, to 155.08 Crore up from 141.23 Crore it netted in 21-22.

No wonders, if company ended up as SD's No 2 Online (Three Phase) UPS company of the year.

Overall turnover of Powerone is a result of Hybrid SPCU's  which the  company has started manufacturing in house and a rated very high in quality. Since long the Powerone has been focusing on bottom line and has crossed 150 crore mark for the 1st time without compromising on margins speaks volumes about the quality and  acceptance of their products, "A No Mean Achievement" for a company manufacturing large scale Grid Connected  & Hybrid SPCU's up to 1000 kW 

Next in the league are the  Hykon India Limited, a Thrissur, Kerala based company which clinched the SD's No.5 Power Electronic Company of the year and 103.52 crore as against 94.52 crore it netted last year, crossing last year's revenue was a result of diversification.

The company has been showing upwards trend ever since it entered the SD's Top 10 Club. Hykon is diversified in to Lithium-ion battery manufacturing and also contributing towards green energy thru electric two & three wheelers. Three wheelers developed by them are for passengers & not for loading. It is very energy efficient and uses a fast  charger for charging at home. 

Next up are Delhi based Uniline Energy Systems Pvt. Ltd. Climbed up two spots to claim the SD's No 6   in this years SD top 10 Rankings. Uniline  netted revenues to the tune of 97.40 crore up from 89.12 crore. A growth of  9.27%, Gravity India Technology  Pvt. Ltd. are the new entrant in the SD's Top 10 club With a turnover of 50.91 Crore this was less by 8,14% from privious yaar turn over of 55.42 crore. 

Better Power Service Pvt. Ltd. Guwahati. The company was ranked as  SD's No. 8 this year, an impovement f one dot over previou year. Making it the SD's No. 8 Power Electronic company of the year netting of 30.15 crore up from 24.44 crore it etted in 21-22. 

A new entrant to the SD's Top 10 group this time are Alpha Power Solutions. The company registered a revenue of 22.37 crore up from 18.05 crores a growth of 23.93%. 

Innovative technology was their key to growth & even exports. The company is all set to touch a new high in the year to come, 

Last on the list  of this years SD's Top 10, were the Pune based Enertech UPS PVT. LTD., the company netted revenues of 21.57 crore up from  13.17 crore it netted im 21-22, a stupendous growth of 63.78 which happens to be the highest in terms of growth amongst the SD's Top 10 companies in for year 2022-23. This enabled it to clinch the last spot in the SD's top 10 ratings for the year 2022-23. 

Vertiv-Liebert, Schneider Electric IT Business India Pvt. Ltd.,  Socomec Hitachi Hirel & Eaton's who didn't wanted their figures to be published terming it to be their company policy. For UPSs sales of these companies : 

SD Estimates 

Vertiv - Liebert  : Revenue of over 1018 crore was achieved.

APC - Schneider's : UPS sales was around 860 crore.

Numeric by Legrand : Revenue is around 800.26 crore. These figure are just a SD's estimate through our own market sources & our reliable sources within the company and information coming out of Government agencies & various other installations. 

Hitachi Hi-Rel Power Electronics Pvt. Ltd. : Hitachi Hi-rel has started delivering big. This teaming up has worked wonders for the company but not that much in the UPS field but has started emphasizing as the company started giving more emphasis on Drives, Solar Power Control Unit, String Inverters which are very successful.  This year Softdisk estimates the company to have done exceedingly well and will be leaders in the SPCU arena.

Conclusion: The 2022-23 can be termed as a relatively good year for the SD's Top 10 UPS Companies. The percentage of the growth may vary as per the efforts put in by the company and what they are targeting top line or bottom line.


The year 2022-2023 was he happiest year of the recent times for Power Electronic Industry. Many grew while a few failed to do so. Overall, the  industry grew by 8.10%.

The industry netted revenues to the tune of INR 7275.13 crore. This is exclusively the end-user sales figure. However, the over all industry revenue was estimated at INR 7500.00 crore approx including secondary sales.

Most companies have started production to the full throttle. In the first two quarter 23-24 all the company have performed better than previous year i.e 22-23 over all growth.  

We are sure that the actual end-user sales revenue of INR 8100.00 crore mark will be crossed in the fiscal 2023-2024.

There will be no wonders if growth ends up over 11.4% in 2023-24, if we go by the indicative trends and beats our estimate.

Softdisk believes that with the make in India initiative talking a stronghold and over 1000 startups turning in to UNICORN, last year. This number will go up further enhancing the need for pure uninterrupted clean power by many folds and he predicted growth may shoot further and faster in the years to come.

The above ranking are based on the invoice raised by the company during the periods of 2022-23. Further these rankings are limited to the companies responding to our survey by providing data &  also estimated by our team.


SD Awards
SD's UPS Awards 2023
Survey Highlights
How They Faired
SD's Power Electronic Industry Analysis,
Year Ending March 2023
SD's Top 10
Power Electronic Companies
SD's Top 10
Indian Power Electronic Companies
SD's Top 5
Online UPS Manufacturers
SD's Top 3
Line-Interactive UPS Manufacturers
SD's Top
Home UPS/CVT/Inverter Company
Special Awards
SD's UPS Users' Choice Awards 2023
Companies to Watch
SD Users' Satisfaction Rating
SD's Solar Market Analysis 2023
SD's Top 5, Indian Rooftop Solutions Company of the year ending March 2022-2023
SD's Top 3, Indian Grid Sharing Solar Power Solution Provider of the year 2022-2023
SD's Top 5, Indian SPCU (Non String) Manufacturers of the year 2022-2023
SD's Top 3, Indian Off-Grid / Hybrid Solar Power Solution Provider of the year 2022-2023

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