Transformers & Rectifiers (India) Limited (TARIL), a leading manufacturer of transformers, has reported robust financial results for the first quarter of fiscal year 2026, demonstrating significant growth and progress towards its ambitious revenue target.

Q1 FY26 Financial Highlights

TARIL's consolidated financial results for Q1 FY26 show impressive year-on-year growth:

The company's revenue from operations surged by 64.00% to ₹529.33 crore in Q1 FY26, compared to ₹322.00 crore in the same quarter last year. EBITDA more than doubled, reaching ₹108.50 crore, a 134.75% increase from Q1 FY25. The EBITDA margin expanded significantly by 556 basis points to 19.74%.

Profit After Tax (PAT) saw an impressive growth of 222.95%, rising to ₹67.41 crore from ₹20.87 crore in Q1 FY25. The PAT margin also improved substantially, increasing by 586 basis points to 12.26%.

Strong Order Book and Future Outlook

As of June 30, 2025, TARIL reported an unexecuted order book of ₹5,246 crore, with new order inflows of ₹665 crore during Q1 FY26. The company also has inquiries under negotiation worth over ₹18,000 crore, indicating a robust pipeline for future growth.

Progress Towards $1 Billion Revenue Target

Jitendra U. Mamtora, Chairman and Wholetime Director of TARIL, confirmed that the company is on track to achieve its target of $1 billion in revenue over the next three financial years. This ambitious goal aligns with the company's strong performance and growth trajectory.

Operational Highlights

• Construction has commenced for a new 22,000 MVA capacity expansion at the Moraiya facility.
• Capacity expansion of the CRGO processing unit has started.
• The company is undertaking construction for backward integration units to enhance self-reliance and quality control.
• TARIL received an operational excellence award from Power Grid.
• Successfully exported a 220/253 MVA EAF Transformer, one of the largest ratings ever manufactured globally.
• Secured a maiden order for 193 MVA single-phase STATCOM transformers.

Management Commentary

Mr. Jitendra Mamtora, Chairman of TARIL, stated, "We are on track in our journey towards US$ 1 Billion in revenue over the next three financial years." He also highlighted the company's focus on capacity expansion and backward integration to support future growth.

Satyen Mamtora, Managing Director, added, "Improvements in operational efficiency and process optimization have begun to reflect positively on profitability. We are seeing strong growth in our order pipeline from utilities, infrastructure, and industrial sectors."

With its strong financial performance, robust order book, and strategic expansion plans, Transformers & Rectifiers (India) Limited appears well-positioned to achieve its ambitious growth targets in the coming years.

Transformers & Rectifiers (India) Ltd (TARIL), a leading manufacturer of transformers, has announced an ambitious target of achieving $1 billion in revenue within the next three financial years. This bold vision comes alongside the company's impressive financial results for the first quarter of the fiscal year 2025-26.

Ambitious Growth Trajectory

The Co-Chairman of Transformers & Rectifiers has confirmed the company's path towards the billion-dollar revenue milestone, signaling a significant expansion of the company's operations and market presence. This target underscores TARIL's confidence in its growth strategy and the robust demand for its products in the power sector.

Strong Q1 FY26 Performance

The company's financial results for Q1 FY26 demonstrate substantial growth across key metrics:

The company has shown remarkable year-on-year growth, with revenue from operations increasing by 64.00% to ₹510.53 crore. Even more impressive is the 127.00% surge in EBITDA to ₹96.70 crore, reflecting improved operational efficiency. The profit after tax has more than tripled, reaching ₹60.20 crore, a 227.00% increase from the same quarter last year.

Order Book and Future Outlook

As of June 30, 2025, TARIL reported an unexecuted order book of ₹5,246 crore, providing a strong foundation for future growth. Additionally, the company has inquiries under negotiation worth over ₹18,000 crore, indicating robust market demand for its products.

Expansion and Strategic Initiatives

To support its growth ambitions, TARIL has initiated several strategic moves:

1. Construction of a new 22,000 MVA capacity expansion at the Moraiya facility.
2. Capacity expansion of the CRGO (Cold Rolled Grain Oriented) processing unit.
3. Ongoing construction for backward integration units to enhance self-reliance and quality control.

Management Commentary

Mr. Jitendra Mamtora, Chairman of TARIL, expressed confidence in the company's trajectory, stating, "We are on track in our journey towards US$ 1 Billion in revenue over the next three financial years."

Mr. Satyen Mamtora, Managing Director, highlighted operational achievements, including receiving an operational excellence award from Power Grid and successfully exporting one of the largest ratings of Electric Arc Furnace (EAF) Transformer ever manufactured globally.

With its strong financial performance, robust order book, and strategic expansion plans, Transformers & Rectifiers (India) Ltd appears well-positioned to pursue its ambitious growth targets in the coming years.