Transformers and Rectifiers (India) Ltd

Transformers & Rectifiers (India) has secured an export 0rder of USD 16,258,352 (equivalent to approx. Rs. 150 crore) from PDC AK LPIV, LLC for supply of five transformers.

The key equity indices traded with significant losses in mid-afternoon trade as Donald Trump announced an extension of the ceasefire until Iranian leaders submit a unified proposal. Investor sentiment remained cautious amid uncertainty surrounding the deadline for the ceasefire in the West Asia conflict. Crude oil prices touched $100 per-barrel mark. However, market participants will track Q4 earnings. The Nifty slipped below the 24,450 mark. FMCG shares witnessed buying demand for the second consecutive trading sessions. At 14:25 IST, the barometer index, the S&P BSE Sensex declined 664.82 points or 0.86% to 78,592.66. The Nifty 50 index slumped 162.30 points or 0.66% to 24,413.25. The broader market outperformed the frontline indices. The BSE 150 MidCap Index added 0.33% and the BSE 250 SmallCap Index jumped 0.87%. The market breadth was positive. On the BSE, 2,382 shares rose and 1,790 shares fell. A total of 182 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 4.03% to 18.24. Economy: The credit rating agency, Moody has lowered India's FY27 GDP growth forecast to 6% from 6.8%. The downgrade reflects weak consumption, slower industrial output and rising energy costs due to West Asia tensions. Higher oil and gas prices may increase import bills and push up inflation. India's dependence on Middle East energy and fertiliser imports adds to the risk. Elevated costs could hurt margins of sectors like aviation, cement and chemicals. The government may also face pressure on subsidies and fiscal balance. However, strong forex reserves, resilient services exports and ongoing infrastructure spending are expected to provide some support. Buzzing Index: The Nifty FMCG index jumped 0.85% to 51,252.85. The index jumped 3.42% in the three consecutive trading sessions. Emami (up 3.98%), Tata Consumer Products (up 3.65%), Hindustan Unilever (up 2.67%), United Spirits (up 2.37%), Varun Beverages (up 2.25%), Dabur India (up 2.04%), Godrej Consumer Products (up 1.84%), Marico (up 1.67%), Nestle India (up 1.46%) and Patanjali Foods (up 1.41%) surged. Numbers to Track: The yield on India's 10-year benchmark federal paper rose 0.23% to 6.907 compared with previous session close of 6.891. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 93.8550 compared with its close of 93.4400 during the previous trading session. MCX Gold futures for 5 June 2026 settlement advanced 1.10% to Rs 153,341. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.07% to 98.32. The United States 10-year bond yield added 0.05% to 4.293. In the commodities market, Brent crude for June 2026 settlement surged $1.61 or 1.63% to $100.09 a barrel. Stocks in Spotlight: Transformers & Rectifiers India declined 6.83% after the company's consolidated net profit declined 5.2% to Rs 89.28 crore despite 15.7% increase in revenue from operations to Rs 782.67 crore in Q4 FY26 over Q4 FY25. Maharashtra Scooters fell 0.34%. The company reported a 92.23% decline in standalone net profit to Rs 4.01 crore in Q4 FY26 as against Rs 51.63 crore in Q4 FY25. Total income slipped 3.55% year-on-year (YoY) to Rs 6.51 crore in Q4 FY26 Larsen & Toubro declined 1.19%. The company announced that its wholly-owned subsidiary L&T Energy GreenTech (LTEGL) has entered into a long-term partnership with Japan's ITOCHU Corporation for the supply of green ammonia. Under the agreement, LTEGL will supply 300,000 tonnes per annum of green ammonia on a captive, long-term take-or-pay basis from its proposed production facility at Kandla, Gujarat.

Profit before tax (PBT) rose 0.20% marginally to Rs 119.47 crore in Q4 FY26 compared with Rs 119.24 crore in Q4 FY25. On a standalone basis, the company's net profit rose 4.3% to Rs 77.47 crore on 16.2% increase in revenue from operations to Rs 752.33 crore in Q4 FY26 over Q4 FY25. During the quarter, EBITDA jumped 4.6% YoY to Rs 116.90 crore. EBITDA margin contracted 200 bps to 15.1% in Q4 FY26 as against 17.1% in Q4 FY25. As on 31st March 2026, the unexecuted order book stood at around Rs 5,005 crore, providing strong visibility for future revenues. The company said it continues to maintain a robust pipeline of inquiries under negotiation worth over Rs 23,000 crore. While order inflows remain healthy, it is following a calibrated approach to order bookings by prioritising projects with better margin profiles, favourable payment terms, and alignment with its production cycle. The company is undertaking a planned capex investment of approximately Rs 600 crore over the next 15 months to enhance capacity and support future demand. On an annual basis, the company's standalone net profit jumped 21.7% to Rs 225.43 crore on 22.8% increase in revenue from operations to Rs 2,395.49 crore in FY26 over FY25. The revenue growth was supported by strong execution across utilities, infrastructure, and industrial segments, along with increasing demand from the power transmission and distribution sector. The improvement in profitability was driven by operating leverage, cost optimisation, and enhanced execution efficiencies. Satyen J. Mamtora, managing director & CEO, said, 'FY26 has been a year of strong and consistent performance for TARIL. Our ability to deliver robust revenue growth along with sustained profitability reflects the strength of our execution capabilities and disciplined operational approach. The healthy order inflows and strong order book provide us with clear visibility for the coming periods. As we continue to scale our capacities and enhance our technological capabilities, we remain focused on improving efficiencies, strengthening margins, and delivering long-term value.' Meanwhile, the company's board declared a dividend of Re 0.25 per equity share of Re 1 each. Transformers and Rectifiers (India) is a leading manufacturer of transformers and reactors. It caters to power generation, transmission, distribution, and industrial sectors on a B2B model. Its product portfolio spans single-phase power transformers up to 500 MVA and 1200 kV, furnace, rectifier, and distribution transformers, as well as specialty units for locomotive traction, solar applications, green hydrogen, and mobile substations. With an installed capacity of around 40,000 MVA, TARIL serves clients across more than 25 countries.

Net profit of Transformers & Rectifiers India declined 5.19% to Rs 89.28 crore in the quarter ended March 2026 as against Rs 94.17 crore during the previous quarter ended March 2025. Sales rose 15.70% to Rs 782.67 crore in the quarter ended March 2026 as against Rs 676.48 crore during the previous quarter ended March 2025. For the full year,net profit rose 23.39% to Rs 264.39 crore in the year ended March 2026 as against Rs 214.27 crore during the previous year ended March 2025. Sales rose 24.24% to Rs 2508.80 crore in the year ended March 2026 as against Rs 2019.38 crore during the previous year ended March 2025. ParticularsQuarter EndedYear EndedMar. 2026Mar. 2025% Var.Mar. 2026Mar. 2025% Var. Sales782.67676.48 16 2508.802019.38 24 OPM %15.1419.40 -15.2716.22 - PBDT126.48123.28 3 392.95308.56 27 PBT119.47116.00 3 363.04281.60 29 NP89.2894.17 -5 264.39214.27 23 Powered by Capital Market - Live

Transformers & Rectifiers India announced that the Board of Directors of the Company at its meeting held on 21 April 2026, inter alia, have recommended the final dividend of Rs 0.25 per equity Share (i.e. 25%) , subject to the approval of the shareholders.

Transformers & Rectifiers India will hold a meeting of the Board of Directors of the Company on 21 April 2026.

Chanchal S S Rajora has step-down from the position of CFO with effect from 5th March 2026. However, he will continue in his existing role as director (finance) and will remain designated as senior management personnel. Shah is a Chartered Accountant and a seasoned finance professional with over 26 years of experience in strategic accounting, financial operations, fund management, budgeting, compliance, taxation, and corporate governance. He has worked with reputed organisations such as Nirma, Adani Enterprises, Reliance Logistics, Arvind Smart Spaces, Gujarat Ambuja Exports, and Asian Granito India, managing key finance and business responsibilities. Transformers and Rectifiers (India) is a leading manufacturer of transformers and reactors. It caters to power generation, transmission, distribution, and industrial sectors on a B2B model. Its product portfolio spans single-phase power transformers up to 500 MVA and 1200 kV, furnace, rectifier, and distribution transformers, as well as specialty units for locomotive traction, solar applications, green hydrogen, and mobile substations. With an installed capacity of around 40,000 MVA, TARIL serves clients across more than 25 countries. The company's consolidated net profit jumped 34.9% to Rs 73.85 crore on 31.7% increase in net sales to Rs 736.76 crore in Q3 FY26 over Q3 FY25. The scrip rose 0.22% to Rs 290.90 on the BSE.Powered by Capital Market - Live

Transformers & Rectifiers India announced the resignation of Mukul Srivastava from the position of Chief Executive Officer (CEO) of the Company, with effect from the close of business hours on 07 January 2026. Powered by Capital Market - Live

Net profit of Transformers & Rectifiers India rose 34.89% to Rs 73.85 crore in the quarter ended December 2025 as against Rs 54.75 crore during the previous quarter ended December 2024. Sales rose 31.71% to Rs 736.76 crore in the quarter ended December 2025 as against Rs 559.36 crore during the previous quarter ended December 2024. ParticularsQuarter EndedDec. 2025Dec. 2024% Var. Sales736.76559.36 32 OPM %16.9615.16 - PBDT115.8780.23 44 PBT107.7973.74 46 NP73.8554.75 35 Powered by Capital Market - Live

Following his exit, the board appointed Satyen J. Mamtora, the company's managing director (MD), as CEO with effect from 8 January 2026. Satyen J. Mamtora is the MD of TARIL and a second-generation entrepreneur with over three decades of experience in the transformer manufacturing and power equipment sector. He joined TARIL in 1997 as director ' marketing and has since played a central role in expanding the company's market presence, strengthening customer relationships, and guiding its evolution from a regional manufacturer to a globally recognised transformer organisation. Meanwhile, the company announced its Q3 result, reporting 36.93% YoY jump in consolidated net profit to Rs 75.97 crore on 31.71% increase in revenue from operations to Rs 736.76 crore in Q3 FY26 over Q3 FY25. Profit before tax (PBT) jumped 46.2% YoY to Rs 107.79 crore in Q3 FY26. EBITDA surged 38% YoY to Rs 129.24 crore in Q3 FY26. EBITDA margin expanded to 17.54% in Q3 FY26 as against 16.76% in Q3 FY25. The unexecuted order book stood at Rs 5,450 crore, up 47.86% YoY and down 0.4% QoQ. Headquartered in Ahmedabad, Transformer & Rectifiers (India) (TARIL) is a leading manufacturer of transformers and reactors. It caters to power generation, transmission, distribution, and industrial sectors on a B2B model. Its product portfolio spans single-phase power transformers up to 500 MVA and 1200 kV, furnace, rectifier, and distribution transformers, as well as specialty units for locomotive traction, solar applications, green hydrogen, and mobile substations. Powered by Capital Market - Live