Transformers And Rectifiers (India) Limited Q4 & FY26 Financials: Revenue ₹2,395 Cr, PAT ₹225 Cr
Transformers And Rectifiers (India) Limited reported FY26 standalone revenue of ₹2,395 crore, up 22.8% YoY. PAT was ₹225 crore, up 20.1%. The company has an order book of ₹5,005 crore and inquiries over ₹23,000 crore. Expansion projects are underway to boost capacity to 75,000 MVA, with a goal of US$1 billion revenue in three years.
The announcement includes detailed financial results, a strong order book, and strategic expansion plans, all of which are material information for investors and stakeholders.
The company reported significant year-over-year growth in revenue and profit for both standalone and consolidated results. The robust order book and future expansion plans indicate positive future prospects.
Transformers And Rectifiers (India) Limited (TARIL) has announced its audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026. The company presented an investor presentation detailing these results.
For the full financial year FY26, TARIL reported a standalone revenue from operations of ₹2,395 crore, a significant increase of 22.8% from ₹1,950 crore in FY25. The standalone EBITDA stood at ₹370 crore, marking a 16.8% rise from ₹320 crore in the previous year, with an EBITDA margin of 15.1%. Profit After Tax (PAT) for FY26 was ₹225 crore, up 20.1% from ₹187 crore in FY25, with a PAT margin of 9.2%.
On a consolidated basis, FY26 revenue from operations reached ₹2,50,880 lakhs (₹2,508.80 crore), a 24.2% increase from ₹2,01,938 lakhs (₹2,019.38 crore) in FY25. Consolidated EBITDA grew by 23.6% to ₹44,403 lakhs (₹444.03 crore) from ₹35,914 lakhs (₹359.14 crore) in FY25, while consolidated PAT increased by 25.6% to ₹27,209 lakhs (₹272.09 crore) from ₹21,658 lakhs (₹216.58 crore) in FY25.
The company's unexecuted order book as of March 31, 2026, stood at ₹5,005 crore. Inquiries under negotiation amounted to over ₹23,000 crore. Key operational highlights include securing a landmark order from PGCIL for the repair of an HVDC transformer, which could lead to PGCIL's approval for their HVDC transformer manufacturing technology. The company also reported the highest ever production of around 33,000 MVA in FY26.
Management commentary indicates that commercial production of new capacity addition of 15,000 MVA at the Changodar plant is expected during Q2 FY26, with further capacity addition planned at Moraiya. These expansions aim to increase the company's total capacity to around 75,000 MVA. TARIL has commenced Phase 1 of its journey towards achieving US$1 billion revenue in the next three financial years, having achieved a revenue of approximately ₹2,500 crore in FY26. A new capex infusion of ₹600 crore is planned over the next 15 months for four backward integration facilities (CTC, Bushing, Pressboard, and Fabrication), with a target to be 100% backward integrated by Q1 FY28. The company expects continued tailwinds due to government infrastructure push and anticipates the expansion projects to yield results from FY28 onwards.
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Transformers And Rectifiers (India) Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. 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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