| Management target | Revenue 25.0% FY27 |
|---|
| Revenue growth | Targeting 25% YoY growth for FY27. |
|---|---|
| Margins | Consolidated EBITDA margin at 19.2%; targeting 16% for FY27. |
| Order book | INR6,630 crores as of June 30, 2026. |
| Demand visibility | Strong demand from grid modernization, data centers, and renewables. |
| Management confidence | High; visibility underpinned by strong unexecuted order book. |
Growth
Standalone revenue grew 10% YoY to INR559Cr; consolidated PAT reached INR64Cr with healthy 19.2% EBITDA margins.
Outlook
Targeting 25% revenue growth for FY27 with 16% EBITDA margins; targeting $1 billion revenue by FY29.
Risks
Temporary lower capacity utilization at Changodar due to expansion; geopolitical issues affecting raw material procurement strategy.
Last quarter's promises, checked
Delivered
- Guided Q3FY26 revenue ~INR700Cr → delivered INR704.21Cr (= BEAT)
- Guided 16% EBITDA margin → delivered 16.19% (= BEAT)
- Guided audited results within 8 days of close → delivered on schedule (= BEAT)
Partly delivered
- Guided FY26 revenue INR2,600Cr → Q3 YTD indicates on track but pending Q4 (= PARTIAL)
- Guided net debt free in 18-24 months → working capital still at 120 days (= PARTIAL)
Missed
- Guided 18-month order book limit → delivered 24-month lag time (= MISS)
Investor Presentation filed with BSE, NSE: TARIL. Summary written with AI assistance from the document.
Transformers & Rectifiers (India) Ltd: key numbers
- Share price
- ₹277.65
- Market cap
- ₹8,334 Cr
- Revenue (annual)
- ₹2,509 Cr
- Net profit (annual)
- ₹264.4 Cr
- P/E (TTM)
- 32.2×Sector 53.6×
- Promoter holding
- 64.36%+0.00% QoQ
- FII holding
- 7.80%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Transformers & Rectifiers (India) Ltd
All →Transformers & Rectifiers (India) Annual General Meeting
TARIL's 32nd AGM was held on September 21, 2026. A 25% dividend (Rs. 0.25 per share) was declared alongside routine resolutions.
Transformers & Rectifiers (India) Merger & Restructuring
Transformers and Rectifiers (India) Limited has completed the incorporation of a new subsidiary, Maxwell Grid Transformers (UK) Private Limited, in the United Kingdom.
Transformers & Rectifiers (India) Earnings Call Transcript: Key Takeaways
Management is aggressively expanding capacity and backward integration to hit a $1B target by FY29, despite temporary Q1 revenue moderation due to modernization at the Changodar plant.
- Call
- Guides 25% growth
Transformers & Rectifiers (India) Earnings Call: Key Takeaways
TARIL reported Q1FY27 standalone revenue of ₹559 Cr (up 10% YoY) and consolidated PAT of ₹64.34 Cr. Strategy focuses on high-voltage products and backward integration.
- Call
- Guides 25% growth
Transformers & Rectifiers (India) Q1 FY27 Results: Net Profit ₹64.3 Cr, Down 4.7% YoY
Transformers & Rectifiers (India) Ltd reported revenue from operations of ₹572.3 Cr (+8.1% YoY) and net profit of ₹64.3 Cr (-4.7% YoY) for Q1 FY27.
- Key figure
- Net profit ₹64.3 Cr · -4.7% YoY
Transformers & Rectifiers (India) Earnings Call: Key Takeaways
TARIL achieved record FY26 consolidated revenue of ₹2,509cr and PAT of ₹272cr. Management is focused on backward integration and HVDC entry to drive margin expansion and reach a $1 billion revenue target within few years.