Transformers & Rectifiers (India) Limited (TARIL), a leading manufacturer of transformers in India, has announced a significant new order worth ₹103.45 crore from Gujarat Energy Transmission Corporation Limited (GETCO). This development marks a notable achievement for the company in the power sector.

Order Details

Company Overview

TARIL, headquartered in Ahmedabad, has established itself as a prominent player in the transformer manufacturing industry. The company's diverse product range includes power transformers, furnace transformers, rectifier and distribution transformers, and specialty transformers catering to various applications such as locomotive traction.

Strategic Implications

This order from GETCO reinforces TARIL's position in the domestic market and contributes significantly to its order book. The company's ability to secure such substantial contracts underscores its competitive edge in the transformer manufacturing sector.

Financial Impact

While specific financial projections were not provided, this order is expected to positively impact TARIL's revenue in the upcoming financial year. It aligns with the company's recent growth trajectory, as evidenced by its H1 FY26 financial highlights:

• Revenue from operations: ₹989.36 crore (up from ₹783.54 crore in H1 FY25)
• EBITDA: ₹173.94 crore (up from ₹127.19 crore in H1 FY25)
• PAT: ₹105.00 crore (up from ₹66.89 crore in H1 FY25)

Market Position

TARIL claims to be the second-largest transformer manufacturing company in India based on capacity. With an installed capacity of approximately 40,000 MVA across its units, the company is well-positioned to meet the growing demand in the power sector.

Future Outlook

The securing of this order aligns with TARIL's strategy of maintaining a strong order book. As of their latest investor presentation, the company reported:

• Unexecuted Order Book: ₹5,472.00 crore
• Inquiries under Negotiation: Over ₹18,700.00 crore

These figures suggest a robust pipeline of potential business, indicating positive growth prospects for TARIL in the coming periods.

This order from GETCO not only adds to TARIL's order book but also reinforces its position in the domestic power sector. As the company continues to execute such orders, it may further strengthen its market position and financial performance in the transformer manufacturing industry.

Transformers & Rectifiers , a leading manufacturer of transformers, has announced its unaudited financial results for the second quarter and half-year ended September 30, 2025, along with key board appointments and corporate actions.

Financial Performance

Transformers and Rectifiers (India) Limited (TARIL) reported consolidated revenue of ₹460.03 crore in Q2 FY26, marking a 43% year-over-year increase from ₹322.00 crore. However, the company's Q2 consolidated net profit declined to ₹339.1 million from ₹452.5 million in the same period last year. Revenue remained relatively flat at ₹4.6 billion compared to ₹4.61 billion year-over-year.

The company's EBITDA decreased to ₹515 million from ₹692 million, while the EBITDA margin compressed to 11.2% from 15% in the previous year's corresponding quarter.

The company reported the following financial performance:

Profit after tax for Q2 FY26 was ₹16.80 crore, down from ₹42.10 crore in Q2 FY25. However, the half-yearly profit after tax showed growth, reaching ₹76.95 crore compared to ₹60.48 crore in the previous year.

Order Book and Business Outlook

TARIL maintains an unexecuted order book of ₹5,472 crore with new order inflows of ₹592 crore during the quarter. The company has inquiries under negotiation worth ₹18,700 crore.

Board Appointments and Corporate Actions

New Independent Director

The Board of Directors has appointed Mr. Ajay Shriram Patil as an Independent Director for a five-year term, effective November 8, 2025, subject to shareholder approval. Mr. Patil brings over 36 years of global finance experience and currently serves as Global CFO at RSB Transmission (India) Ltd.

Elevation of CFO

Dr. Chanchal S.S. Rajora, who was serving as CFO Advisor to the Board, has been elevated to the position of Director Finance with immediate effect. He will continue his roles as Chief Financial Officer and Advisor to the Board.

Employee Stock Options

The company granted 26,32,968 employee stock options under the TARIL Employee Stock Option Plan 2024. The majority of these options carry an exercise price of ₹372 per option.

Company Overview

TARIL operates as a prominent transformer manufacturer in India with an installed capacity of 40,000 MVA across its units and serves customers in 25+ countries. The company specializes in power transformers, distribution transformers, furnace transformers, rectifier transformers, special transformers, and reactors for various industries including power transmission, steel, petrochemical, and green energy sectors.

Transformers & Rectifiers describes itself as the second largest transformer manufacturing company in India based on capacity. The company operates three plants around Ahmedabad with approximately 1,200 employees.

The company's board meeting, which approved these results and appointments, commenced at 03:45 p.m. and concluded at 07:00 p.m. on November 8, 2025.

Transformers & Rectifiers has scheduled an earnings conference call on November 10, 2025, at 2:00 p.m. IST to discuss these financial results with investors and analysts.