Kartik Daftari, Managing Director & CEO, Hi-Tech Radiators.

Can you give us an overview of Hi-Tech Radiator’s journey and its position in the transformer component industry today?

Hi-Tech Radiators, established in the late 1980s, initially focused on manufacturing control panels and switchgear. The company made a strategic shift in 1989 when it acquired a radiator manufacturing plant from Bharat Bijli, which had a joint venture with Siemens. Despite facing challenges such as labour issues and industry downsizing, Hi-Tech successfully capitalised on this opportunity and began manufacturing radiators. The company’s journey saw substantial growth, particularly when the current leadership joined in 2002. At that time, Hi-Tech was producing radiators worth around ₹4 crore annually, but over the span of the next two decades, its capacity and revenue surged dramatically.

Currently, Hi-Tech generates an impressive ₹400 crore in annual revenue and produces about 2,000 tonnes of radiators every month. The company is also in the process of commissioning a new plant by September 2025, which will add another 1,000 metric tonnes per month to its production, contributing an additional ₹250 crore in revenue. Hi-Tech now controls 35% of the global radiator market, a testament to its commitment to quality and efficiency. It has emerged as a dominant player, serving clients across 56 countries. Its reputation as a preferred supplier is built on the company's robust manufacturing processes, high product quality, and reliable delivery performance. This strong global presence positions Hi-Tech as a leader in the transformer component industry, with its future trajectory focused on continuous expansion and sustainability.

What are the core products in the Hi-Tech portfolio, and how have they evolved over time?

Hi-Tech’s core products are transformer radiators, which are crucial components for transformer cooling systems. These radiators are designed to regulate the temperature of transformers by dissipating excess heat, ensuring their optimal performance. Over time, Hi-Tech has refined its product offering to meet the ever-evolving demands of the transformer industry. Initially, Hi-Tech began with basic radiator designs, but as the market for transformers and associated cooling systems grew, the company expanded its portfolio to include transformer tanks and other related components.

A key evolution in the Hi-Tech product lineup is the shift towards galvanised steel radiators, which offer superior corrosion resistance and a longer lifespan compared to alternatives like stainless steel. Galvanised radiators are also more cost-effective, which makes them highly appealing to customers in the transformer industry. The company has also introduced innovations in the manufacturing process, such as the automation of welding and flow coating processes, and the integration of advanced technologies like robotics and IoT for real-time machine monitoring. These developments have not only enhanced the product’s performance but also contributed to improving manufacturing efficiency, product quality, and cost competitiveness.

Are there any recent innovations or R&D initiatives the company is particularly proud of?

Hi-Tech has made significant strides in research and development (R&D) to enhance both product quality and manufacturing efficiency. The company is particularly proud of its investments in automation and smart manufacturing technologies, which have been pivotal in maintaining its competitive edge. One of the key innovations is the development and integration of robotics into the manufacturing process. Hi-Tech has automated critical operations such as welding and flow coating, with plans to introduce robotic welders in April 2025. This automation reduces reliance on manual labour and ensures consistent quality across production lines.

Additionally, Hi-Tech has invested in smart factory technologies, including IoT sensors deployed throughout the production floor. These sensors enable real-time monitoring of machines and equipment, allowing for predictive maintenance and early identification of potential issues. This system is aligned with the company’s Total Productive Maintenance (TPM) philosophy, where operators are responsible for maintaining the machines they operate, contributing to a more efficient and proactive manufacturing environment. Furthermore, Hi-Tech has focused on sustainability by investing in renewable energy. The company has entered into a Power Purchase Agreement (PPA) to purchase 5 MW of solar energy and is in the process of installing 1.2 MW of rooftop solar. These initiatives aim to reduce the company’s carbon footprint and meet increasing demands for green manufacturing practices in the global market.

What are the key materials used in transformer radiators and tanks, and how do you ensure a stable supply chain?

The primary materials used in the manufacturing of transformer radiators and tanks at Hi-Tech are cold-rolled steel (CRCA), zinc, and paint. Cold-rolled steel serves as the structural material for the radiators, providing the necessary strength and durability. Zinc is used for galvanising the steel to enhance its corrosion resistance, which is crucial for ensuring the longevity of radiators in challenging environments. Finally, paint is applied to further protect the radiators from environmental factors such as moisture, chemicals, and atmospheric corrosion.

To ensure a stable supply chain, Hi-Tech has established strong relationships with leading suppliers in each of these key materials. For steel, Hi-Tech has secured agreements with major CRCA producers, ensuring a reliable supply and guaranteed capacity allocation. Zinc is hedged through the London Metal Exchange (LME) to manage price volatility and ensure availability. For paints, Hi-Tech collaborates with globally renowned brands, which are widely recognised in the transformer industry for their high-quality products. Additionally, the company maintains strategic relationships with international suppliers to remain competitive and mitigate risks such as shortages or price fluctuations.

In the age of Industry 4.0 and smart manufacturing, how automated are the manufacturing facilities at Hi-Tech?

Hi-Tech’s manufacturing facilities are highly automated, reflecting the company’s commitment to Industry 4.0 principles. The company has implemented several levels of automation, starting with the in-house development of Special Purpose Machines (SPM) for specific manufacturing tasks. These machines help streamline production processes and improve efficiency. Additionally, Hi-Tech is deploying IoT sensors throughout the production floor to monitor equipment and enable predictive maintenance. These sensors provide real-time data on machine performance, which helps to identify potential issues before they impact production.

One of the most significant steps in automation at Hi-Tech is the integration of robotics. Hi-Tech has automated the welding process, a critical part of radiator manufacturing, and is set to deploy robotic welders by April 2025. These robotic systems will drastically reduce the need for manual labour while enhancing the consistency and precision of the welding process. In addition to welding, Hi-Tech has automated its flow coating process, further improving efficiency and product quality. By embracing smart manufacturing technologies, Hi-Tech has positioned itself as a leader in the transformation of manufacturing processes within the radiator and transformer component industry.

How do grid modernisation and renewable energy integration impact the transformer business, affecting radiator designs as well?

The modernisation of electrical grids and the increasing integration of renewable energy sources are key drivers of demand in the transformer sector. As renewable energy sources like solar and wind are integrated into the grid, the complexity of power generation and distribution increases, requiring transformers that can handle variable and fluctuating power loads. This has created a growing demand for highly reliable and efficient transformers, which in turn impacts radiator designs.

As transformers need to operate under varying loads and environmental conditions, radiator designs have evolved to ensure they can handle higher heat loads and provide better cooling performance. In addition, with the global push toward reducing carbon emissions and promoting sustainability, there is a growing demand for energy-efficient transformer components. Radiators are now being designed to be more efficient in their heat dissipation capabilities while also being made from materials that are more environmentally friendly, such as galvanised steel. These changes reflect the need for transformers to work effectively in a renewable energy-powered grid while minimising their environmental impact.

Which geographic markets are most important for Hi-Tech, and where do you see future growth?

Hi-Tech Radiators has a strong presence in multiple global markets, with three primary regions contributing to its revenue: North America, Europe, and the rest of the world. The company’s largest market is the US, accounting for around 35% of its revenue. The US market is a significant driver of demand for Hi-Tech’s radiators due to the country’s extensive power grid infrastructure and the increasing need for energy-efficient transformers. Similarly, Europe represents another crucial market, also contributing 35% to Hi-Tech’s overall revenue. The European market is characterised by high demand for reliable, high-quality transformer components as the region continues to modernise its power grids and integrate more renewable energy sources.

The remaining 35% of Hi-Tech’s revenue comes from the rest of the world, including emerging markets where infrastructure development is driving demand for transformers and related components. While Hi-Tech has only a small presence in the Indian market (about 2-5% of its revenue), the company sees future growth opportunities in both domestic and international markets. The continued global focus on renewable energy, energy-efficient transformers, and grid modernisation presents substantial growth prospects. Hi-Tech’s strategic initiatives, including expanding its production capacity and increasing its sustainability efforts, will allow it to capitalise on these growth opportunities in the coming years.

Kartik Daftari is a dynamic and visionary leader with over 20 years of experience driving innovation and growth in the global transformer industry. As the driving force behind Hi-Tech Radiators Pvt Ltd (India) and Hi-Tech Radiators LLP USA, Kartik has led both companies to prominence, establishing them as key players in the market.

His deep expertise in electrical engineering, coupled with a keen understanding of global markets, has enabled him to expand the company's footprint to 65 countries, serving industry giants like Hitachi, ABB, Siemens, General Electric, and Schneider. Kartik’s relentless pursuit of quality, automation, and cost-efficiency has fostered the development of cutting-edge processes and machinery that set Hi-Tech Radiators apart in the competitive landscape.

The company

Since 1989, Hi-Tech Radiators has established itself as a trusted leader in the global transformer industry, specialising in the manufacture of high-quality transformer radiators and tanks. With a strong commitment to excellence, their products meet the highest standards expected by both domestic and international markets. An ISO 9001, ISO 14001, ISO 18001, and ISO 3834-2004 certified company, Hi-Tech Radiators collaborates with major transformer manufacturers worldwide, proudly serving as a government-certified export house.

With 60% of radiator production and 90% of tank production exported to over 36 countries, they have a strong global footprint. Our state-of-the-art hot-dip galvanizing facility reflects their commitment to innovation and quality. Hi-Tech has actively participated in industry-leading exhibitions, including CWIEME Berlin and IEEE Denver, showcasing it’s expertise on an international platform.