Lord’s Mark Industries Limited Acquires Radio Electric Private Limited, Combining, Engineering Heritage with New Growth Opportunities

Founded in 1939, Radio Electric Private Limited brings nearly nine decades of engineering and manufacturing heritage, while the Radiotone brand has been established since 1980. The company specialises in variable autotransformers (Variacs) and toroidal transformers, with products largely manufactured to customer-specific requirements. Its portfolio includes three-phase air-cooled Variacs ranging up to 1,000 A, three-phase oil-cooled Variacs ranging up to 2,000 A, double-layer Variacs and tailor-made single-phase toroidal transformers ranging from 30 VA to 20 kVA. The company also manufactures specialised variable transformers, AC power sources, voltage isolation transformers, variable inductors and chokes.

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Engineering expertise built over decades

A key strength of Radio Electric Private Limited is its specialised design know-how in a niche segment where technical expertise and reliability are critical. The company pioneered its double-layer Variac design in 1979-80, which went on to become widely used by servo stabiliser manufacturers. Its high-current manufacturing capability, particularly in three-phase air- and oil-cooled Variacs, represents a specialised engineering capability that is difficult to replicate quickly.

The company has also developed customised solutions for demanding applications. Its isolated double-wound variable transformer, for instance, integrates variable voltage control and isolation into a single transformer configuration, reflecting the company’s emphasis on solving specific customer engineering requirements.

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A strategic acquisition built on proven capabilities

The transaction brings together Radio Electric Private Limited’s 87-year manufacturing legacy, the established Radiotone brand, specialised transformer design expertise and high-current manufacturing capabilities with Lord’s Mark Industries Limited’s growth-oriented business platform.

The acquisition gives Lord’s Mark Industries Limited access to a profitable, debt-free operating business with established relationships across approximately 40-50 customers, including blue-chip industrial names, repeat export customers across seven international markets, a trained technical workforce and an established vendor ecosystem.

With the existing manufacturing facility currently operating at approximately 50% of machine capacity on a single shift, Lord’s Mark Industries Limited also gains significant headroom to scale production without immediate large capital expenditure.

A profitable business with sig ant capacity upside

The acquisition provides Lord’s Mark Industries Limited with an established operating manufacturing business rather than a greenfield investment. Radio Electric Private Limited has demonstrated consistent profitability, operates as a debt-free business, and brings an established customer base, export presence and proven manufacturing capabilities to Lord’s Mark Industries Limited.

The company’s existing manufacturing infrastructure presents significant scope for enhanced capacity utilisation and production expansion through operational efficiencies and the introduction of additional shifts. With the right marketing strategy, improved utilisation and focused business development, the company is well positioned to scale its operations significantly and build a business with the potential to achieve revenues running into hundreds of crores in the coming years.

Strong customer relationships and an established export footprint

Radio Electric Private Limited has developed a steady customer base of approximately 40—50 businesses, with long-standing relationships including Siemens Limited, Hitachi Hi-Rel Power Electronics Private Limited, Larsen & Toubro Limited, Bharat Bijlee Limited, Aplab Limited, Underwriters Laboratories India Private Limited and Intellux Electronics Private Limited.

The company’s customer base has been built largely through engineering reputation, referrals and repeat business, creating an opportunity for Lord’s Mark Industries Limited to now complement this organic customer acquisition model with a structured sales and marketing strategy.

Radio Electric Private Limited also has repeat export customers across seven countries, including markets in Europe, the United States, Canada, South Africa, Dubai and the Philippines. This existing international base provides Lord’s Mark Industries Limited with a platform to deepen exports and pursue additional opportunities across Europe, North America, the Middle East and Africa.

Unlocking the next phase of growth

Following the acquisition, Lord’s Mark Industries Limited plans to build on Radio Electric Private Limited’s established strengths through a more structured domestic and international growth strategy. This includes strengthening the sales organisation, developing dealer networks in key industrial clusters, expanding OEM engagement, participating in relevant industrial exhibitions and enhancing the company’s digital presence.

The company also sees an opportunity to broaden its customer base beyond servo voltage stabiliser manufacturers to include test and measurement laboratories, educational institutions, research and development centres, electrical original equipment manufacturers and utilities. The existing product portfolio can further be strengthened through potential development of motorised Variacs, variable AC power sources, test benches, isolation and step-up/step-down transformers, digital metered Variacs and automatic voltage regulation and line-conditioning solutions.

From transformer manufacturer to a broader electrical engineering platform

The acquisition also provides Lord’s Mark Industries Limited with a technical platform from which to explore adjacent, higher-value applications. These could include customised toroidal and specialised transformers for medical equipment, audio systems, UPS and inverter applications, solar and energy-storage systems, railways and specialised electronics, alongside inductors, chokes and other engineered transformer solutions.

This creates the potential to progressively transform Radio Electric Private Limited from a specialised transformer manufacturer into a broader electrical engineering and power-control solutions platform, while leveraging its existing manufacturing infrastructure, technical expertise and customer relationships.

Preserving legacy while accelerating growth

Lord’s Mark Industries Limited intends to ensure continuity during the transition, with the existing trained team and vendor ecosystem continuing to support operations and production remaining at the existing facility under the lease arrangement. As part of the transition, Mr. Umesh Marathe will be available as a consultant for one year, enabling the systematic transfer and documentation of critical design and- process knowledge developed over decades.

Commenting on the acquisition, Dr. Sachidanand Upadhyay, MD & CEO, Lord’s Mark Industries Limited, said:

“Radio Electric Private Limited represents a rare combination of engineering heritage, specialised technology, customer trust and significant untapped growth potential. What attracted us was not simply the company’’s history, but the strength of the underlying business a profitable manufacturing operation, established bluechip customer relationships, an export track record and specialised technology refined over decades. Lord’s Mark Industries Limited is committed to building high-end transformer manufacturing capabilities to serve the Indian market as well as international markets. This acquisition gives us a strategic edge in the rapidly growing Battery Energy Storage System (BESS) segment, while also enabling us to develop critical components in-house, creating greater value and improving profitability across our medical device business. We see this acquisition as an opportunity to preserve the strengths that have made Radiotone a trusted name while providing the business with a larger growth platform, stronger market access and a more structured approach to domestic and international expansion. Our objective is to take this established Indian engineering capability into its next phase of growth and build a larger, globally competitive electrical manufacturing business.”

The acquisition reflects Lord’s Mark Industries Limited’s broader strategic vision of identifying established Indian capabilities, investing in their next phase of growth and creating businesses with the potential to serve larger domestic and international markets. The company believes that combining Radio Electric Private Limited’s technical heritage and manufacturing capabilities with Lord’s Mark Industries Limited’s growth orientation can create a scalable platform for long-term value creation.

With this acquisition, Lord’s Mark Industries Limited is not simply adding another business to its portfolio; it is acquiring decades of engineering know-how, an established brand, customer trust, export credentials and a manufacturing platform with room to scale providing the foundation for the next chapter of Radiotone’s growth.