Transformers & Rectifiers India Ltd reported an 8.1% year-on-year increase in consolidated revenue from operations to ₹572.34 crore for the quarter ended June 30, 2026, driven by robust order inflows. Profit after tax for the quarter stood at ₹64.34 crore. The company achieved a record unexecuted order book of ₹6,630 crore, up 26% year-on-year, providing healthy revenue visibility. Order inflows during the quarter surged 218% to ₹2,114 crore, supported by a strong enquiry pipeline of approximately ₹23,000 crore.

Financial Performance

The Board of Directors approved the unaudited standalone and consolidated financial results for Q1FY27 on July 20, 2026. On a standalone basis, revenue from operations rose 9.5% to ₹559.28 crore, while net profit declined 17% to ₹49.92 crore. Consolidated EBITDA stood at ₹109.65 crore, with an EBITDA margin of 19.16%. The statutory auditor, Manubhai & Shah LLP, performed a limited review of the results.

Operational and Strategic Updates

Revenue growth during the quarter was moderated by lower capacity utilisation at the Changodar manufacturing facility due to ongoing expansion activities. The company is investing approximately ₹150 crore in the Changodar expansion and ₹900–1,000 crore in backward integration projects. Additionally, three greenfield manufacturing facilities at Chiyada are under development. The expansion at Changodar is anticipated to be completed by August 2026.

Growth Targets and Outlook

Transformers & Rectifiers has outlined an ambitious set of financial and operational targets. The company aims for 25% revenue growth and a 16% standalone EBITDA margin for FY27, with consolidated EBITDA margin expected to reach 20–21%, exceeding the standalone target. The company is targeting $1 billion in revenue by FY28-29, backed by current capacity and backward integration initiatives. Backward integration is expected to boost margins by 200–300 basis points, with gains anticipated to begin from Q1 FY28.

On the order front, the company aims for 30% growth in orders across both domestic and export markets and expects to sustain 30% growth in order inflow for FY27. The company holds ₹23,000 crore in negotiated inquiries with a 10%–15% win ratio. Additionally, the company plans to reduce working capital days to 120–130 as part of its operational efficiency drive.

Investor Communication

In compliance with Regulation 30(6) and Regulation 46 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Transformers and Rectifiers (India) Limited informed that the audio recording of the earnings conference call held on July 21, 2026, is available on its website. The call was held to discuss the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026.

Transformers & Rectifiers has confirmed that its FY27 guidance remains unchanged, according to a report by CNBC TV18. The company's reaffirmation of its guidance underscores its steady business trajectory heading into the fiscal year.

Order Inflows and Business Update

Alongside the guidance confirmation, Transformers & Rectifiers disclosed that order inflows have already been booked for the current period. The following table summarizes the key updates reported:

The order inflow of ₹2,300–2,400 Cr booked so far reflects the company's active engagement in securing business commitments. The reaffirmation of FY27 guidance alongside this order booking provides a consolidated picture of the company's near-term operational standing as reported by CNBC TV18.