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Transformers And Rectifiers (India) LimitedTARILCorporate

Electric Equipment Latest results: Sep 2026 15 quarters of data
Consolidated Standalone
₹329.10
MCap ₹9,878 Cr · P/E 31.6
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AI-assisted data: figures and text on this page are extracted from public quarterly filings with AI assistance, checked automatically and overseen by our editorial team (human in the loop). They may still contain errors or omissions. Verify critical numbers against official company / SEBI / NSE / BSE filings before making any decision. Educational information only, not financial advice.
₹739 Cr
Sales · Sep 2026
+60.7% YoY
₹129 Cr
Operating Profit · Sep 2026
+147.6% YoY
17.4%
OPM % · Sep 2026
+54.0% YoY
₹81 Cr
Net Profit · Sep 2026
+119.9% YoY
₹2.66
EPS · Sep 2026
+135.4% YoY

📝 Transformers And Rectifiers (India) Limited — results explained

Quarter ended September 2026 (Q2 FY27)

Transformers And Rectifiers (India) Limited reported revenue of ₹739 crore for the quarter ended September 2026 (Q2 FY27), up 60.7% from ₹460 crore in the same quarter last year, and up 29.2% sequentially over the June 2026 quarter.

Net profit rose 119.9% year-on-year to ₹81 crore, from ₹37 crore. Earnings per share (EPS) came in at ₹2.66.

Operating profit stood at ₹129 crore — an operating margin (OPM) of 17.4%, compared with 11.3% in the year-ago quarter.

Full year and trailing twelve months

For the full year FY26, Transformers And Rectifiers (India) Limited posted revenue of ₹2,509 crore, a growth of 24.2% over FY25, with a net profit of ₹272 crore (up 25.6% year-on-year).

On a trailing-twelve-month (TTM) basis, revenue stands at ₹2,831 crore with a net profit of ₹313 crore.

Valuation snapshot

At the current price of ₹329.10, TARIL has a market capitalisation of ₹9,878 crore and a trailing P/E of about 31.6.

Within the Electric Equipment industry, it is the 2nd-largest of the 41 companies we track by market value.

Shareholding pattern

As of Sep 2026, promoters held 64.36%, foreign institutional investors (FIIs) 6.99%, domestic institutional investors (DIIs) 1.19%, public shareholders 27.46% of Transformers And Rectifiers (India) Limited.

📈 Share price & events

📊 Quarterly trend

₹ crore · OPM % on right axis

🎯 Key metrics

price-linked ratios use the latest close
Valuation
Market Cap ?
₹9,878 Cr
Current Price ?
₹329.1
P/E ?
31.55above ind
Industry P/E ?
29.80
P/B ?
5.98
P/S ?
3.49
P/FCF ?
-45.95
Enterprise Value ?
₹10,459 Cr
EV/EBITDA ?
22.46
PEG ?
0.36
Earnings Yield ?
4.2%
Dividend Yield ?
0.06%
Profitability & Returns
Sales (TTM) ?
₹2,831 Cr
OPM ?
16.4%
Profit after tax (TTM) ?
₹313 Cr
EPS (TTM) ?
₹10.43
ROCE ?
23.0%
ROE ?
18.9%
ROA ?
10.4%
Growth
Sales — latest qtr ?
₹739 Cr
PAT — latest qtr ?
₹81 Cr
YoY qtr sales growth ?
60.7%
YoY qtr profit growth ?
119.9%
Sales growth (3y) ?
22%
Sales growth (5y) ?
28%
Profit growth (3y) ?
87%
Profit growth (5y) ?
106%
Financial Health
Debt ?
₹581 Cr
Debt to Equity ?
0.35
Interest Coverage ?
7.0
Current Ratio ?
N/A
Ownership
Promoter holding ?
64.36%
Change in promoter holding ?
0.00%
Pledged percentage ?
N/A
Market
Return 3 months ?
-1.0%
Return 6 months ?
2.1%

🗓️ Quarterly results (15 quarters · ₹ Cr)

same fiscal quarter as Sep bestweakest per row · for costs (interest, NPAs) low is best
Metric Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026 YoY % QoQ %
Sales 438156257369513322462559676529460737783572739 +60.7% +29.2%
Operating Profit 334203872426985131885212511893129 +147.6% +38.0%
Other Income 11121412972014422163 -80.6% -83.3%
Interest 121512131112101415101313141514 +10.3% -3.1%
Depreciation 766667667878777 +3.1% +5.9%
Profit Before Tax 15-1532156286474119904510811988110 +144.3% +24.9%
Net Profit 10-122164221465594673776916481 +119.9% +26.6%
EPS 0.34-0.480.060.552.801.401.513.673.172.241.132.463.042.052.66 +135.4% +29.8%
OPM % 7.5% 2.6% 7.8% 10.3% 14.0% 13.1% 14.9% 15.2% 19.4% 16.7% 11.3% 17.0% 15.1% 16.3% 17.4% +54.0% +6.7%

📆 Annual results (₹ Cr, FY = Apr–Mar)

Metric FY25 FY26 TTM YoY %
Sales ₹2,020 Cr ₹2,509 Cr ₹2,831 Cr +24.2%
Operating Profit ₹327 Cr ₹384 Cr ₹466 Cr +17.2%
OPM % 16.20% 15.29% 16.44% -5.6%
NPM % 10.72% 10.83% 11.06% +1.0%
Other Income ₹32 Cr ₹61 Cr ₹45 Cr +90.0%
Depreciation ₹27 Cr ₹30 Cr ₹29 Cr +11.3%
Interest ₹50 Cr ₹51 Cr ₹57 Cr +1.4%
EBIT ₹301 Cr ₹354 Cr ₹437 Cr +17.8%
PBT ₹285 Cr ₹363 Cr ₹425 Cr +27.5%
Tax ₹58 Cr ₹51 Cr ₹80 Cr -11.5%
Net Profit ₹217 Cr ₹272 Cr ₹313 Cr +25.6%
EPS ₹9.75 ₹8.87 ₹10.21 -9.0%
Material Cost ₹1,094 Cr ₹886 Cr ₹1,487 Cr -19.0%
Employee Cost ₹48 Cr ₹58 Cr ₹98 Cr +20.6%
Extraordinary Items ₹3 Cr — — —

🏛️ Balance Sheet (latest 5 periods)

Metric Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026 % Chg
Equity Capital 1314303030 +0.1%
Reserves 3815401,2221,4851,623 +9.3%
Borrowings 330256283457581 +27.0%
Other Liabilities 463359652694784 +12.9%
Total Liabilities 1,1871,1702,1872,6663,017 +13.2%
Fixed Assets 153144251250267 +6.8%
CWIP 3562138267 +93.7%
Investments 14268184179 -2.6%
Other Assets 1,0301,0171,6052,0932,304 +10.1%
Total Assets 1,1871,1702,1872,6663,017 +13.2%

📦 Working Capital (latest 1 periods)

Metric Sep 2026 % Chg
Inventories 723 —
Trade Receivables 1,077 —
Trade Payables 384 —

💧 Cash Flow (latest 4 periods)

Metric Mar 2023Mar 2024Mar 2025Mar 2026 % Chg
Cash from Operating Activity 2829157-105 -166.9%
Cash from Investing Activity 9-22-625-7 +98.9%
Cash from Financing Activity -45-10472116 -75.4%
Net Cash Flow -7-343 -25.0%
Free Cash Flow 1914-75-215 -186.7%
CFO/OP 34%38%58%2% -96.6%

💧 Half-year Cash Flow (latest 1 periods)

Metric Sep 2026 % Chg
Cash from Operating Activity 48 —
Cash from Investing Activity -132 —
Net Cash Flow -84 —

➗ Ratios (latest 4 periods)

Metric Mar 2023Mar 2024Mar 2025Mar 2026 % Chg
Debtor Days 16617485129 +51.8%
Inventory Days 93109118133 +12.7%
Days Payable 1189510962 -43.1%
Cash Conversion Cycle 14118894199 +111.7%
Working Capital Days 6811934102 +200.0%
ROCE % 15%15%28%23% -17.9%

👥 Shareholding (latest 5 periods)

Metric Jun 2025Sep 2025Dec 2025Mar 2026Sep 2026 % Chg
Promoters 64.36%64.36%64.36%64.36%64.36% +0.0%
FIIs 10.94%11.21%7.01%8.33%6.99% -16.1%
DIIs 6.04%5.95%4.18%1.77%1.19% -32.8%
Public 18.67%18.47%24.43%25.54%27.46% +7.5%
No. of Shareholders 1,81,1031,79,3672,06,0602,11,9072,23,850 +5.6%

⚖️ Peer comparison

Industry: Electric Equipment · top 25 of 41 companies · full page →
# Company CMP MCap (Cr) P/E Sales TTM NP TTM OPM% NPM% Sales YoY% NP YoY% Qtr Rev Δ% Qtr NP Δ%
1 VOLTAMP Voltamp Transformers ₹11,006.00 11,135 35.1 2,274 317 16.0% 14.0% 11.3% -6.1% 28.3% 14.0%
2 TARIL Transformers And Rectifiers ₹291.30 8,744 28.5 2,831 313 16.4% 11.1% 24.2% 25.6% 60.7% 119.9%
3 SPECTRUM Spectrum Electrical ₹3,729.90 6,373 102.0 682 57 15.3% 8.4% 29.9% 77.2% 76.5% 131.9%
4 MARINE Marine Electricals ₹377.45 5,282 82.1 968 66 11.0% 6.8% 14.2% 55.6% 55.2% 45.9%
5 INDOTECH Indo Tech ₹3,323.80 3,530 35.5 846 99 15.1% 11.7% 28.0% 45.3% 39.0% 34.1%
6 WEBELSOLAR Websol Energy ₹75.52 3,279 10.3 1,203 313 37.4% 26.0% 82.1% 94.5% 70.1% 16.1%
7 RELTD Ravindra Energy ₹139.32 2,766 33.7 543 82 24.2% 15.0% 116.6% 265.6% -16.4% 0.0%
8 UEL Ujaas Energy ₹200.99 2,681 n/m 18 4 -19.3% 21.8% -34.7% -64.3% 14.5% 30.8%
9 RISHABH Rishabh Instruments ₹684.55 2,649 32.6 783 82 16.7% 10.5% 7.6% 289.8% 4.4% -3.2%
10 BBL Bharat Bijlee ₹2,246.80 2,540 22.7 2,355 112 6.5% 4.7% 19.5% -10.4% 17.7% -29.9%
11 EXICOM Exicom Tele-Systems ₹162.72 2,263 — 1,278 -265 -6.8% -20.7% 17.7% -584.4% 61.5% 11.4%
12 ALPEXSOLAR Alpex Solar ₹838.95 2,143 10.7 2,346 200 14.1% 8.5% 185.0% 143.4% 32.5% -5.1%
13 HONDAPOWER Honda India ₹1,930.30 1,958 29.7 900 66 9.7% 7.3% 9.1% -20.0% 22.1% 23.3%
14 HPL HPL Electric ₹284.15 1,827 20.0 1,944 92 14.8% 4.7% 6.6% -2.7% 34.5% 1.2%
15 IKIO IKIO Technologies ₹211.58 1,635 34.0 644 51 13.6% 7.9% 22.4% 28.8% 41.1% 452.3%
16 SERVOTECH Servotech Renewable ₹68.95 1,557 39.7 751 35 10.3% 4.7% -0.3% -3.3% 57.8% 77.0%
17 MODISONLTD MODISON ₹445.00 1,444 12.8 980 113 17.5% 11.5% 44.8% 193.8% 92.2% 99.8%
18 IGARASHI Igarashi Motors ₹425.45 1,339 81.7 912 16 9.6% 1.8% 3.3% -49.8% 22.5% 169.6%
19 ICEMAKE Ice Make ₹692.00 1,092 89.6 668 12 6.7% 1.8% 39.4% -47.6% 41.9% -14.3%
20 APS Australian Prem ₹520.15 1,049 18.6 689 56 13.4% 8.1% — — 43.7% 7.7%
21 WEL Wonder Electricals ₹72.50 972 80.6 734 12 4.4% 1.6% -26.8% -52.0% 51.0% 264.7%
22 SWELECTES Swelect Energy ₹608.40 945 22.1 610 44 22.6% 7.2% 5.7% 325.4% -26.2% -63.8%
23 SALZERELEC Salzer Electronics ₹501.30 886 20.3 1,815 44 7.5% 2.4% 24.0% -22.2% 12.9% -51.7%
24 SAHAJSOLAR Sahaj Solar ₹395.90 870 29.4 419 29 12.4% 7.0% — — 32.8% 6.3%
25 KECL Kirloskar Electric ₹121.07 804 107.1 561 7 5.5% 1.3% 8.4% 270.9% -21.5% -1526.2%
❓ Frequently asked questions
What was Transformers And Rectifiers (India) Limited's revenue in Q2 FY27?
Transformers And Rectifiers (India) Limited reported revenue of ₹739 crore for the quarter ended September 2026 (Q2 FY27), up 60.7% from ₹460 crore in the same quarter last year, and up 29.2% sequentially over the June 2026 quarter.
What was Transformers And Rectifiers (India) Limited's net profit in Q2 FY27?
Net profit rose 119.9% year-on-year to ₹81 crore, from ₹37 crore. Earnings per share (EPS) came in at ₹2.66.
What is TARIL's market capitalisation and P/E ratio?
At the current price of ₹329.10, TARIL has a market capitalisation of ₹9,878 crore and a trailing P/E of about 31.6.
Who owns Transformers And Rectifiers (India) Limited? (shareholding pattern)
As of Sep 2026, promoters held 64.36%, foreign institutional investors (FIIs) 6.99%, domestic institutional investors (DIIs) 1.19%, public shareholders 27.46% of Transformers And Rectifiers (India) Limited.
TTM ends 2026-09-30. Amounts are ₹ crore unless stated otherwise. Figures are extracted by AI from public quarterly filings; gaps are filled from public market data. Live price refreshed about twice a day from exchange data. Educational information only — not financial advice.
⚠️ How this site is made: Market data pages are computed automatically from NSE/BSE publications and company filings; news articles and announcement analyses are written with AI assistance, with a human in the loop: our editors review what the AI produces. Both can contain errors. Verify with the original sources before any investment decision. Not investment advice; Flash Finance is not SEBI-registered. How we use AI