TARIL Q4 FY26: Transcript of Earnings Conference Call Released
Transformers and Rectifiers (India) Limited (TARIL) released its Q4 FY26 earnings call transcript. The company reported record production of 33,763 MVA and an order book exceeding ₹5,000 crore. Q4 FY26 standalone revenue was ₹752 crore, with PAT at ₹77 crore. Full-year standalone revenue reached ₹2,395 crore, PAT ₹225 crore. TARIL secured a pioneering HVDC repair order from PGCIL and projects ~₹3,250 crore revenue for FY27.
The announcement details record financial performance, significant capacity utilization, a strong order pipeline, and a strategic entry into the HVDC sector, all of which are material to investors.
The company reported record production, highest ever revenue and profitability, and a robust order book, indicating strong operational and financial performance. The achievement of an HVDC repair order from PGCIL is a significant strategic development.
Transformers and Rectifiers (India) Limited (TARIL) has released the transcript of its earnings conference call held on April 21, 2026. The call discussed the audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026.
During the call, management highlighted a record-breaking performance for FY26, with the highest ever production of 33,763 MVA, an increase from 29,118 MVA in FY25. The company achieved a total order inflow of ₹2,374 crore in FY26, resulting in an unexecuted order book of over ₹5,000 crore as of March 31, 2026, providing revenue visibility for the next 18 months. A significant development mentioned was receiving an HVDC transformer repair order from PGCIL, marking TARIL as the first Indian company to secure such an order, potentially paving the way for entry into the HVDC sector.
Financial highlights for Q4 FY26 included standalone revenue of ₹752 crore (up from ₹647 crore in Q4 FY25), EBITDA of ₹117 crore (15.5% margin), and Profit After Tax (PAT) of ₹77 crore. For the full financial year FY26, standalone revenue stood at ₹2,395 crore (up from ₹1,950 crore in FY25), with EBITDA at ₹370 crore (15.4% margin) and PAT at ₹225 crore. On a consolidated basis, Q4 FY26 revenue was ₹783 crore (up from ₹737 crore in Q4 FY25), with EBITDA at ₹141 crore and PAT at ₹91 crore. Full-year consolidated revenue was ₹2,509 crore (up from ₹2,019 crore), with EBITDA at ₹444 crore and PAT at ₹272 crore.
Management discussed strategic initiatives including backward integration, capacity expansion at Changodar and Moraiya, and ramping up testing facilities. The backward integration is expected to enhance in-house capabilities and improve margins by 150-200 bps. The company aims to become a ₹1 billion revenue company within the next few years. Looking ahead to FY27, TARIL has projected a revenue of approximately ₹3,250 crore. The company emphasized a selective approach to new orders, prioritizing profitability and favorable payment and delivery terms, with a focus on orders with delivery timelines not exceeding 24 months.
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Transformers And Rectifiers (India) Limited filed this with the NSE as a statutory disclosure, categorised under concall transcript released. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Transformers And Rectifiers (India) Limited. Read the original for the full detail.