| Quarterly Financials | Jun 2018 | Sept 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sept 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sept 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 |
Revenue  | 227 | 195 | 198 | 247 | 186 | 155 | 212 | 164 | 116 | 176 | 169 | 290 | 220 | 269 | 340 | 344 | 302 | 327 | 336 | 440 | 157 | 258 | 371 | 514 | 326 | 473 | 568 | 687 | 550 | 474 |
| Expenses | 209 | 180 | 185 | 221 | 169 | 139 | 194 | 147 | 106 | 155 | 150 | 262 | 201 | 246 | 317 | 324 | 278 | 291 | 300 | 406 | 151 | 237 | 331 | 441 | 280 | 392 | 475 | 545 | 441 | 409 |
| EBITDA | 19 | 16 | 13 | 26 | 17 | 16 | 18 | 17 | 10 | 21 | 19 | 28 | 19 | 23 | 23 | 19 | 24 | 36 | 36 | 34 | 6 | 21 | 40 | 73 | 46 | 81 | 94 | 141 | 109 | 65 |
| Operating Profit % | 8 % | 6 % | 6 % | 9 % | 3 % | 10 % | 8 % | 10 % | 8 % | 11 % | 11 % | 8 % | 8 % | 8 % | 5 % | 5 % | 8 % | 10 % | 9 % | 7 % | 3 % | 8 % | 10 % | 14 % | 13 % | 15 % | 15 % | 19 % | 17 % | 11 % |
| Depreciation | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 4 | 5 | 4 | 4 | 4 | 9 | 7 | 6 | 6 | 6 | 6 | 7 | 6 | 7 | 7 | 8 | 7 |
| Interest | 11 | 12 | 10 | 13 | 11 | 10 | 11 | 15 | 11 | 11 | 12 | 13 | 10 | 10 | 10 | 13 | 10 | 13 | 12 | 12 | 15 | 12 | 13 | 11 | 12 | 11 | 14 | 15 | 11 | 13 |
| Profit Before Tax | 4 | -1 | -2 | 8 | 1 | 1 | 2 | -3 | -6 | 5 | 2 | 10 | 4 | 8 | 8 | 2 | 10 | 18 | 14 | 15 | -15 | 3 | 21 | 56 | 28 | 64 | 74 | 119 | 91 | 45 |
| Tax | 1 | -1 | 0 | 3 | 1 | 0 | 1 | -1 | -2 | 2 | 1 | 4 | 2 | 3 | 3 | 2 | 4 | 6 | -0 | 5 | -3 | 1 | 5 | 14 | 7 | 18 | 18 | 25 | 23 | 8 |
| Net Profit | 2 | -1 | -2 | 5 | 1 | 1 | 2 | -2 | -4 | 4 | 1 | 7 | 3 | 6 | 6 | 0 | 6 | 12 | 14 | 10 | -12 | 2 | 16 | 42 | 21 | 46 | 56 | 94 | 68 | 37 |
| EPS in ₹ | 0.17 | -0.07 | -0.17 | 0.42 | 0.03 | 0.06 | 0.10 | -0.16 | -0.26 | 0.25 | 0.05 | 0.49 | 0.21 | 0.36 | 0.39 | 0.10 | 0.48 | 0.87 | 1.04 | 0.68 | -0.95 | 0.12 | 1.10 | 2.80 | 1.40 | 3.04 | 3.67 | 3.17 | 2.24 | 1.13 |
Transformers & Rectifiers
Transformers & Rectifiers
333.35
+15.15
(4.76%)
Key Fundamentals
Market Cap
9,551.30 Cr
EPS
7.21
PE Ratio
39.30
Dividend Yield
0.06 %
Industry
Capital Goods 52 Week High
648.90
52 Week Low
282.20
PB Ratio
7.44
Debt to Equity
0.30
Sector
Electrical Equipment Analyst Rating and Forecast
- By Refinitiv from3 analysts
Actual
Company News
View All News
TARIL Reports 65% EBITDA Drop in Q2 FY26 Due to Raw Material Shortages and Project Delays
10 hours ago
10 hours agoTransformers and Rectifiers India Limited reported quarterly revenue of INR 460 crores with EBITDA falling to INR 65 crores from INR 65 crores in Q2 FY25, impacted by CTC raw material shortages and heavy rainfall causing delivery delays. The company maintains full-year revenue growth guidance of 25% to reach INR 2,600 crores with 16% EBITDA margin, while addressing World Bank debarment issues from a completed 2022 Nigeria project.
Transformers & Rectifiers India shares locked in upper circuit with 9.99% gain after World Bank removed the company from its Debarred Firms and Individuals list and extended deadline for sanctions case explanation to Jan 12, 2026. The development is expected to restore foreign customer confidence and company reputation, though management stated no impact on orderbook regardless of the World Bank announcement.
Transformers and Rectifiers India Ltd shares fell 10% to Rs 282.20, hitting the lower circuit limit after reporting weak quarterly results. The stock has declined for eight consecutive sessions, dropping nearly 40% over this period. For the quarter ended September 30, consolidated net profit fell 20% to Rs 37.45 crore from Rs 46 crore in the same quarter last year. Revenue remained flat at Rs 460 crore compared to Rs 461 crore previously. EBITDA declined 19% to Rs 65.44 crore from Rs 81 crore, with margins dropping 330 basis points to 13.81% from 17.1%. Despite weak results, the company maintains a healthy order book of Rs 5,472 crore and inquiries under negotiation of over Rs 18,700 crore. The company recorded order inflow of Rs 592 crore during the quarter. The stock is down over 50% year-to-date and about 36% in the last six months.
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Peer Comparison Compare Peers on Screener
Competitors | LTP | Market Cap (₹ Cr.) | P/E Ratio | Revenue (₹ Cr.) | YoY Revenue Growth % | Net Profit (₹ Cr.) | YoY Profit Growth % | RSI |
|---|---|---|---|---|---|---|---|---|
749.75 | #1 1,17,077.50 | 111.11 | 10,070.80 | 23.53 | 973 | 29.51 | 54.69 | |
3,232.60 | 1,09,834.70 | 54.70 | 12,193.00 | 15.54 | 1,606 | -41.60 | 62.36 | |
5,041.50 | 1,04,947.60 | 60.58 | 9,569.53 | -23.70 | 1,267 | -7.15 | 43.40 | |
285.50 | 98,054.90 | 178.50 | #1 28,804.80 | 17.86 | 534 | 253.01 | 74.23 | |
3,301.70 | 96,202.50 | 33.90 | 14,846.10 | 27.62 | 1,928 | 133.75 | 41.59 | |
21,474.00 | 95,679.00 | 133.53 | 6,442.10 | 22.78 | 384 | 405.54 | 70.13 | |
57.70 | 79,070.70 | #1 24.78 | 10,993.10 | 67.39 | #1 2,072 | #1 537.79 | 53.94 | |
3,036.30 | 77,717.80 | 84.63 | 4,354.90 | 36.50 | 608 | 107.12 | 50.59 | |
1,010.00 | 44,982.80 | 38.52 | 6,652.10 | #1 109.76 | 937 | 71.64 | 42.30 | |
9,230.50 | 36,436.70 | 39.44 | 18,680.60 | 15.07 | 821 | 29.81 | 61.54 |
Automatic Screeners on ScanX
Growth Rate
Revenue Growth
57.72 %
Net Income Growth
360.43 %
Cash Flow Change
437.34 %
ROE
103.71 %
ROCE
32.31 %
EBITDA Margin (Avg.)
62.73 %
Quarterly Financial Results
Balance Sheet
| Balance Sheet | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Total Assets | 725 | 791 | 876 | 1,088 | 879 | 932 | 925 | 1,109 | 1,186 | 1,168 | 2,185 |
| Fixed Assets | 192 | 185 | 187 | 195 | 201 | 193 | 181 | 169 | 153 | 144 | 251 |
| Current Assets | 502 | 579 | 670 | 869 | 654 | 714 | 711 | 909 | 990 | 989 | 1,398 |
| Capital Work in Progress | 11 | 11 | 6 | 12 | 3 | 2 | 0 | 3 | 3 | 5 | 62 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 4 | 268 |
| Other Assets | 521 | 594 | 682 | 881 | 675 | 737 | 743 | 937 | 1,028 | 1,015 | 1,604 |
| Total Liabilities | 725 | 791 | 876 | 1,088 | 879 | 932 | 925 | 1,109 | 1,186 | 1,168 | 2,185 |
| Current Liabilities | 352 | 406 | 504 | 715 | 500 | 537 | 493 | 672 | 708 | 539 | 801 |
| Non Current Liabilities | 34 | 53 | 40 | 35 | 36 | 52 | 81 | 74 | 77 | 66 | 111 |
| Total Equity | 339 | 332 | 331 | 338 | 343 | 343 | 350 | 363 | 401 | 563 | 1,272 |
| Reserve & Surplus | 321 | 314 | 312 | 317 | 322 | 323 | 330 | 343 | 380 | 540 | 1,222 |
| Share Capital | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 14 | 30 |
Cash Flow
| Cash Flow | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Net Cash Flow | 13 | 1 | -19 | 12 | -11 | 3 | -4 | 11 | -7 | -3 | 4 |
| Investing Activities | -30 | -6 | -24 | -31 | -8 | -15 | -7 | -8 | 9 | -22 | -625 |
| Operating Activities | 93 | 37 | 67 | -102 | 179 | 16 | 96 | 2 | 28 | 29 | 157 |
| Financing Activities | -50 | -31 | -62 | 145 | -182 | 2 | -93 | 17 | -45 | -10 | 472 |
Share Holding
| % Holding | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Oct 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Feb 2025 | Mar 2025 | Jun 2025 | Sept 2025 |
| Promoter | 74.91 % | 74.91 % | 74.91 % | 74.91 % | 74.91 % | 74.91 % | 74.91 % | 74.91 % | 74.91 % | 74.91 % | 74.91 % | 69.65 % | 69.65 % | 69.65 % | 66.16 % | 66.16 % | 64.36 % | 64.36 % | 64.36 % | 64.36 % | 64.36 % |
| FIIs | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.57 % | 0.00 % | 0.00 % | 4.45 % | 7.89 % | 9.34 % | 11.08 % | 11.22 % | 11.33 % | 10.94 % | 11.21 % |
| DIIs | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.01 % | 0.00 % | 0.00 % | 1.89 % | 5.36 % | 6.92 % | 7.67 % | 7.52 % | 7.22 % | 6.03 % | 5.95 % |
| Government | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % |
| Public / Retail | 22.05 % | 22.05 % | 22.52 % | 21.83 % | 22.27 % | 22.46 % | 21.76 % | 22.29 % | 22.10 % | 21.77 % | 19.87 % | 25.64 % | 22.98 % | 21.39 % | 18.35 % | 15.26 % | 14.70 % | 14.74 % | 14.92 % | 16.39 % | 15.86 % |
| Others | 3.04 % | 3.04 % | 2.57 % | 3.26 % | 2.82 % | 2.64 % | 3.34 % | 2.81 % | 2.99 % | 3.32 % | 4.65 % | 4.71 % | 7.36 % | 2.62 % | 2.23 % | 2.31 % | 2.19 % | 2.15 % | 2.16 % | 2.28 % | 2.61 % |
| No of Share Holders | 0 | 37,265 | 41,440 | 39,961 | 43,976 | 46,773 | 46,396 | 46,810 | 47,585 | 51,342 | 54,118 | 54,878 | 61,972 | 64,977 | 80,939 | 90,218 | 99,687 | 1,20,855 | 1,45,463 | 1,81,103 | 1,79,367 |
Dividend History
| Annual Cash Flows | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.1 | 0.15 | 0.15 | 0.2 | 0.2 |
| Dividend Yield (%) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.61 | 0.53 | 0.08 | 0.04 | 0.06 |
Corporate Action
| Record Date | Corporate Action | Information | Announcement Day | LTP at Annoucement | LTP at Record Day |
|---|---|---|---|---|---|
| 04 Sept 2021 |  Dividend | ₹ 0.10 /share | 02 Sept 2021 | 12.65 | 13.95 |
| 29 Jul 2022 | Dividend | ₹ 0.15 /share | 28 Jul 2022 | 15.35 | 14.55 |
| 28 Jul 2023 | Dividend | ₹ 0.15 /share | 28 Jul 2023 | 34.63 | 44.35 |
| 11 May 2024 | Dividend | ₹ 0.20 /share | 10 May 2024 | 232.90 | 294.15 |
| 13 May 2024 |  Annual General Meeting | NA | 13 May 2024 | 232.90 | 294.15 |
| 08 Oct 2024 |  Quarterly Result Announcement | NA | 08 Oct 2024 | 312.68 | 321.00 |
| 08 Jan 2025 | Quarterly Result Announcement | NA | 08 Jan 2025 | 549.25 | 619.28 |
| 03 Feb 2025 |  Extraordinary General Meeting | NA | 03 Feb 2025 | 619.28 | 422.10 |
| 14 Feb 2025 |  Bonus | 1:1 | 14 Feb 2025 | 427.00 | 424.00 |
| 08 Apr 2025 | Quarterly Result Announcement | NA | 08 Apr 2025 | 536.20 | 470.25 |
| 09 May 2025 | Dividend | ₹ 0.20 /share | 09 May 2025 | 470.25 | 482.40 |
| 13 May 2025 | Annual General Meeting | NA | 13 May 2025 | 470.25 | 502.35 |
| 01 Aug 2025 | Quarterly Result Announcement | NA | 01 Aug 2025 | 507.55 | 511.20 |
| 08 Nov 2025 | Quarterly Result Announcement | NA | 08 Nov 2025 | 452.85 | 391.90 |
Announcements
Announcement under Regulation 30 (LODR)-Earnings Call Transcript11 hours ago
11 hours agoWorld Bank Case Update - Order Value Of USD 24.74 Million3 days ago
3 days agoAnnouncement under Regulation 30 (LODR)-Newspaper Publication5 days ago
5 days agoDisclosure Regarding World BankS Debarment Notice And Its Impact On The Company7 days ago
7 days agoAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome7 days ago
7 days agoAnnouncement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order7 days ago
7 days agoAnnouncement under Regulation 30 (LODR)-Monitoring Agency Report7 days ago
7 days agoAnnouncement under Regulation 30 (LODR)-Investor Presentation8 days ago
8 days agoAnnouncement under Regulation 30 (LODR)-Investor Presentation9 days ago
9 days agoUnaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Half Year Ended 30Th September 20259 days ago
9 days agoBoard Meeting Outcome for Outcome Of Board Meeting Held On 08Th November 2025 And Submission Of Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Half Year Ended 30Th September 20259 days ago
9 days agoAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation10 days ago
10 days agoBoard Meeting Intimation for Regulation 29 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 And Opening Of Trading WindowOct 31, 2025
Oct 31, 2025Sub: Clarification On Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015
Ref: TGVSL: SECL: BSE:2025-26 Dated October 26 2025 - TGV SRAAC LimitedOct 27, 2025
Oct 27, 2025Special Window For Re-Lodgement Of Transfer Requests Of Physical SharesOct 09, 2025
Oct 09, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Oct 09, 2025
Oct 09, 2025Special Window For Re-Lodgement Of Transfer Requests Of Physical SharesSep 29, 2025
Sep 29, 2025Copies Of Newspaper Advertisement - 100 Days Campaign- Saksham Niveshak And Opening Of A Special Window For Re-Lodgement Of Share Transfer DeedsSep 29, 2025
Sep 29, 2025Closure of Trading WindowSep 25, 2025
Sep 25, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 18, 2025
Aug 18, 2025Announcement under Regulation 30 (LODR)-Monitoring Agency ReportAug 06, 2025
Aug 06, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptAug 04, 2025
Aug 04, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationAug 02, 2025
Aug 02, 2025Amended Code Of Practices And Procedures For Fair Disclosure Of Unpublished Price Sensitive Information (UPSI)Aug 02, 2025
Aug 02, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeAug 02, 2025
Aug 02, 2025Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPSAug 01, 2025
Aug 01, 2025Announcement under Regulation 30 (LODR)-Investor PresentationAug 01, 2025
Aug 01, 2025Board Meeting Outcome for Outcome Of Board Meeting Held On 01St August 2025 And Submission Of Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter Ended 30Th June 2025Aug 01, 2025
Aug 01, 2025Outcome Of Board Meeting Held On 01St August 2025 And Submission Of Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter Ended 30Th June 2025Aug 01, 2025
Aug 01, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJul 28, 2025
Jul 28, 2025Board Meeting Intimation for Regulation 29 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 And Opening Of Trading WindowJul 23, 2025
Jul 23, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Jul 12, 2025
Jul 12, 2025Addition To List Of Key Managerial Personnel (Kmps) Authorized For The Purpose Of Determination Of Materiality Of Events/Information And For The Purpose Of Making DisclosuresJul 08, 2025
Jul 08, 2025Announcement under Regulation 30 (LODR)-Change in ManagementJul 08, 2025
Jul 08, 2025Closure of Trading WindowJun 24, 2025
Jun 24, 2025Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_OrderJun 20, 2025
Jun 20, 2025Announcement under Regulation 30 (LODR)-Credit RatingJun 13, 2025
Jun 13, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationMay 28, 2025
May 28, 2025Compliances-Reg.24(A)-Annual Secretarial ComplianceMay 27, 2025
May 27, 2025Shareholder Meeting / Postal Ballot-Scrutinizers ReportMay 13, 2025
May 13, 2025Shareholder Meeting / Postal Ballot-Outcome of AGMMay 13, 2025
May 13, 2025Reg. 34 (1) Annual Report.Apr 30, 2025
Apr 30, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationApr 25, 2025
Apr 25, 2025Corrigendum To The Annual Report For The Financial Year 2024-25Apr 23, 2025
Apr 23, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationApr 21, 2025
Apr 21, 2025Business Responsibility and Sustainability Reporting (BRSR)Apr 21, 2025
Apr 21, 2025Reg. 34 (1) Annual Report.Apr 21, 2025
Apr 21, 2025Notice Of 31St AGM Along With Annual Report For The FY 2024-25Apr 21, 2025
Apr 21, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptApr 15, 2025
Apr 15, 2025Corporate Action-Board approves DividendApr 10, 2025
Apr 10, 2025Mutual Fund Holdings
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RSI(14)
Neutral 25.04
ATR(14)
Volatile 21.26
STOCH(9,6)
Oversold 6.66
STOCH RSI(14)
Neutral 35.93
MACD(12,26)
Bearish -14.68
ADX(14)
Strong Trend 47.28
UO(9)
Bullish 25.96
ROC(12)
Downtrend And Accelerating -30.15
WillR(14)
Oversold -81.93
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