Transformers & Rectifiers (India) Limited (TARIL), a leading transformer manufacturer, has received a significant update regarding its status with the World Bank. The company has been removed from the World Bank's list of debarred firms and individuals, opening the door for its participation in World Bank-funded projects once again.

Key Developments

1. Removal from Debarred List: The World Bank has officially removed TARIL from its list of debarred firms and individuals, as confirmed in the company's recent disclosure to the stock exchanges.

2. Extension for Response: TARIL has been granted an extended deadline until January 12, 2026, to submit its explanation in an ongoing sanctions case with the World Bank.

3. Significant Order Value: The case involves an order valued at USD 24.74 million, highlighting the potential impact on the company's business operations.

Implications for TARIL

The removal from the World Bank's debarred list may allow TARIL to:

• Participate in World Bank-funded projects
• Potentially expand its business opportunities in the global market
• Improve its standing in the international business community

Company's Response

In its regulatory filing dated November 14, 2025, TARIL stated:

"We will continue to adhere to all disclosure requirements and keep the exchange informed of any further material developments."

About Transformers And Rectifiers (India) Limited

TARIL is a prominent player in the transformer manufacturing industry:

The company's removal from the World Bank's debarred list and the extension granted for responding to the sanctions case represent crucial developments for TARIL. These changes may potentially impact the company's future projects and its position in the global transformer manufacturing industry. Investors and industry observers will likely keep a close watch on how TARIL navigates this situation and its potential participation in World Bank-funded projects.

Transformers & Rectifiers India Ltd (TRIL) shares hit the lower circuit limit on Monday, falling 10% to Rs 282.20 following the release of disappointing quarterly results. The stock has been on a downward trajectory for eight consecutive sessions, shedding nearly 40% of its value during this period.

Q2 Financial Performance

The company's financial results for the quarter ended September 30 revealed a significant decline in profitability:

The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margins contracted by 330 basis points year-over-year, indicating pressure on operational efficiency.

Order Book and Future Outlook

Despite the weak quarterly performance, TRIL maintains a robust order book:

• Current order book: Rs 5,472 crore
• Inquiries under negotiation: Over Rs 18,700 crore
• Q2 order inflow: Rs 592 crore

These figures suggest potential for future revenue growth, provided the company can effectively execute its projects and improve profitability.

Stock Performance

The recent financial results have exacerbated the downward pressure on TRIL's stock:

• Year-to-date decline: Over 50%
• Six-month decline: About 36%

Recent Developments

According to the latest LODR data, TRIL secured a new order worth Rs 103.45 crore from Gujarat Energy Transmission Corporation Limited for the supply of 54 various types of transformers. This order is expected to be executed by the next financial year and may provide some support to the company's future revenue stream.

Additionally, the company disclosed receiving a Notice of Uncontested Sanctions Proceedings from the World Bank related to a past project in Nigeria. While TRIL states that this debarment is limited to World Bank-funded projects and does not materially impact its current operations, investors should monitor any potential reputational effects or future business implications.

As TRIL navigates through these challenges, investors will be closely watching for signs of operational improvement and the company's ability to leverage its strong order book to reverse the recent financial and stock performance trends.