Transformers and Rectifiers (India) Limited has formally published its postal ballot notice in newspapers and notified stock exchanges about the commencement of the e-voting process for obtaining shareholder approval on the re-appointment of Mr. Rajendra S. Shah as an Independent Director. The company proposes to appoint Mr. Shah (DIN: 00061922) for a second term of 5 years, commencing from 25th May, 2026 and concluding on 24th May, 2031.

Newspaper Publication and Regulatory Compliance

Pursuant to Regulation 30 and Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company published advertisements in Financial Express (English) and Financial Express (Gujarati) newspapers on 23rd April, 2026. The newspaper publications have also been uploaded on the company's website at www.transformerindia.com in compliance with Regulation 46 of SEBI LODR Regulations.

E-voting Process and Timeline

The e-voting facility is now active for shareholders from 23rd April, 2026 at 09:00 a.m. IST to 22nd May, 2026 at 05:00 p.m. IST. The company has engaged Central Depository Services (India) Limited (CDSL) to provide the remote e-voting facility. Members who have not received the postal ballot notice via email can write to cs@transformerindia.com with the subject "Postal Ballot Notice – Transformers and Rectifiers (India) Limited" to obtain the same.

Regulatory Framework and Scrutinizer Appointment

This initiative is being undertaken pursuant to Section 110 of the Companies Act, 2013, read with Rule 22 of the Companies (Management and Administration) Rules, 2014. The Board of Directors has appointed Mr. Tapan Shah (Membership No. F4476), a Practicing Company Secretary, as the Scrutinizer to ensure that the postal ballot process is conducted in a fair and transparent manner. The resolution for re-appointment will be passed as a Special Resolution through remote e-voting only.

Comprehensive Timeline

The company has provided a detailed schedule for the postal ballot process:

Director Profile and Qualifications

Mr. Rajendra S. Shah, a mechanical engineering graduate, was originally appointed as Independent Director on 25th May, 2021. He brings 35 years of experience in the precision engineering and auto-component manufacturing sector and was honored with the AMA Atlas Dycechem "Outstanding Entrepreneur of the Year Award 2001" by the Ahmedabad Management Association. As he has attained the age of 75 years, a special resolution is required for his continuation as Independent Director in accordance with Regulation 17(1A) of SEBI Listing Regulations. The Scrutinizer will submit the results to the Chairman by 23rd May, 2026, following which the company will declare the results and submit them to the stock exchanges on the same day.

Transformers & Rectifiers (India) Limited announced its audited standalone and consolidated financial results for the quarter and financial year ended 31st March 2026. The company delivered robust performance with strong revenue growth and improved profitability, supported by healthy order inflows and a substantial unexecuted order book.

Financial Performance Highlights

The company reported impressive financial results for FY26, with standalone revenue from operations growing approximately 23% year-on-year to ₹2,395 crore. Profitability remained strong throughout the year, with EBITDA increasing approximately 17% YoY to ₹370 crore, while profit after tax registered approximately 20% YoY growth to ₹225 crore. The improvement in profitability was driven by operating leverage, cost optimization, and enhanced execution efficiencies.

*Calculated based on growth percentages

Quarterly Performance Analysis

For Q4 FY26, the company reported revenue from operations of ₹752 crore, reflecting approximately 16% year-on-year growth. PAT for the quarter stood at ₹77 crore, indicating stable profitability while EBITDA remained resilient despite marginal pressure on margins. The quarterly performance demonstrates consistent execution capabilities across the company's diversified portfolio.

Strong Order Book and Future Visibility

Operational momentum remained robust during the year, with order inflows of approximately ₹2,374 crore in FY26, including ₹244 crore in Q4. The unexecuted order book stood at around ₹5,005 crore as of March 31, 2026, providing strong visibility for future revenues. The company maintains a healthy pipeline of inquiries under negotiation exceeding ₹23,000 crore, while taking a calibrated approach to order booking focusing on projects with better margin profiles and favorable payment terms.

Strategic Initiatives and Outlook

In line with its growth plans, the company is undertaking a planned capex investment of approximately ₹600 crore over the next 15 months to enhance capacity and support future demand. Managing Director & CEO Mr. Satyen J. Mamtora highlighted the company's strong execution capabilities and disciplined operational approach, emphasizing focus on improving efficiencies and strengthening margins.

Aligned with India's long-term economic growth trajectory and the 'Viksit Bharat 2047' vision, the company is well positioned to benefit from sustained investments in power transmission and infrastructure. The company continues to benefit from improvements in manufacturing efficiency, supply chain optimization, and project execution, contributing to consistent financial performance.