| Management target | Revenue 25.0% FY27 |
|---|
| Revenue growth | 10% YoY standalone; 8% YoY consolidated. |
|---|---|
| Margins | FY27 EBITDA margin target 16%; PAT margin 9-10%. |
| Order book | ₹6,630 Cr as of June 30, 2026; 80% Power Transformers. |
| Demand visibility | Strong; un-executed order book at ₹6,630 Cr; bid pipeline ₹23,000 Cr. |
| Management confidence | High, targeting 25% growth and improved utilization post-August 2026. |
Growth
Standalone Revenue grew 10% YoY; Order Inflow surged 218% to ₹2,114 Cr. 5-year standalone revenue CAGR stands at 27%.
Outlook
Targeting 25% revenue growth for FY27 with 16% EBITDA margin. ₹1,050-1,150 Cr total capex planned for expansion and backward integration.
Risks
QoQ revenue impacted by lower capacity utilization at Changodar due to on-going expansion and geopolitical raw material disruptions.
Last quarter's promises, checked
Delivered
- Guided FY26 Revenue ~₹2,500 Cr → delivered ₹2,509 Cr (= BEAT)
- Guided FY26 EBITDA Margin 15-17% → delivered 17.7% (= BEAT)
- Guided FY26 Order Inflow >₹2,300 Cr → delivered ₹2,374 Cr (= BEAT)
Partly delivered
- Guided FY27 Revenue ₹3,250 Cr → current Q1 run-rate ₹559 Cr (= PARTIAL)
Missed
- Guided FY26 Order Book ₹8,000 Cr → delivered ₹5,000 Cr (= MISS)
- Guided Changodar expansion Q1 start → delivered August 2026 start (= MISS)
Earnings Call filed with BSE, NSE: TARIL. Summary written with AI assistance from the document.
Transformers & Rectifiers (India) Ltd: key numbers
- Share price
- ₹289.95
- Market cap
- ₹8,703 Cr
- Revenue (annual)
- ₹2,509 Cr
- Net profit (annual)
- ₹264.4 Cr
- P/E (TTM)
- 33.7×Sector 53.9×
- Promoter holding
- 64.36%+0.00% QoQ
- FII holding
- 7.80%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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