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Transformers & Rectifiers India Ltd
Transformer & Rectifiers drops after Q4 PAT slumps 5% YoY to Rs 89-cr
Apr 22,2026
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.

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