Transformers & Rectifiers (India) Limited (TARIL), a leading manufacturer of transformers, has announced its ambitious goal to achieve $1 billion in revenue within the next three financial years. This strategic vision comes on the heels of a robust financial performance in the first quarter of the fiscal year 2025-26.

Strong Q1 Financial Results

TARIL has reported impressive financial results for Q1 FY26, showcasing significant growth across key metrics:

The company's revenue from operations surged by 64% year-over-year to ₹510.53 crore, while EBITDA more than doubled to ₹96.70 crore. Notably, the EBITDA margin expanded by 488 basis points to 18.35%, indicating improved operational efficiency.

Path to $1 Billion Revenue

Jitendra U. Mamtora, Chairman and Wholetime Director of TARIL, confirmed the company's ambitious target of reaching $1 billion in revenue over the next three financial years. This goal aligns with the company's growth trajectory and recent performance.

Strategic Initiatives

To support its growth objectives, TARIL has outlined several key initiatives:

1. Capacity Expansion: Construction has commenced for a new 22,000 MVA capacity expansion at the Moraiya facility.
2. Backward Integration: The company is undertaking construction for backward integration units, aimed at enhancing self-reliance and quality control.
3. CRGO Processing: Capacity expansion of the CRGO (Cold Rolled Grain Oriented) processing unit has begun.

Order Book and Pipeline

As of June 30, 2025, TARIL reported:

• An unexecuted order book of ₹5,246 crore
• Inquiries under negotiation worth over ₹18,000 crore
• New order inflow of ₹665 crore in Q1 FY26

Market Position and Future Outlook

TARIL has positioned itself as a prominent player in the transformer manufacturing sector, with a global footprint spanning over 25 countries. The company's diverse product range and strategic initiatives are expected to drive its growth towards the $1 billion revenue target.

Satyen Mamtora, Managing Director of TARIL, expressed confidence in the company's trajectory, citing improvements in operational efficiency and process optimization. He also noted strong growth in the order pipeline from utilities, infrastructure, and industrial sectors.

As TARIL embarks on this ambitious journey, the company's recent performance and strategic initiatives provide a solid foundation for its future growth plans. Investors and industry observers will be keenly watching the company's progress towards its $1 billion revenue goal in the coming years.

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.