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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 36.1
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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.
₹709 Cr
Sales · Sep 2026
+65.7% YoY
₹114 Cr
Operating Profit · Sep 2026
+279.7% YoY
16.1%
OPM % · Sep 2026
+130.0% YoY
₹75 Cr
Net Profit · Sep 2026
+341.2% YoY
₹2.50
EPS · Sep 2026
+346.4% YoY

📝 Transformers And Rectifiers (India) Limited — results explained

Quarter ended September 2026 (Q2 FY27)

Transformers And Rectifiers (India) Limited reported revenue of ₹709 crore for the quarter ended September 2026 (Q2 FY27), up 65.7% from ₹428 crore in the same quarter last year, and up 26.8% sequentially over the June 2026 quarter.

Net profit rose 341.2% year-on-year to ₹75 crore, from ₹17 crore. Earnings per share (EPS) came in at ₹2.50.

Operating profit stood at ₹114 crore — an operating margin (OPM) of 16.1%, compared with 7.0% in the year-ago quarter.

Full year and trailing twelve months

For the full year FY26, Transformers And Rectifiers (India) Limited posted revenue of ₹2,395 crore, a growth of 22.8% over FY25, with a net profit of ₹226 crore (up 20.0% year-on-year).

On a trailing-twelve-month (TTM) basis, revenue stands at ₹2,725 crore with a net profit of ₹273 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 36.1.

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 ?
36.14above ind
Industry P/E ?
29.80
P/B ?
6.33
P/S ?
3.63
P/FCF ?
-53.40
Enterprise Value ?
₹10,423 Cr
EV/EBITDA ?
26.76
PEG ?
0.44
Earnings Yield ?
3.5%
Dividend Yield ?
0.06%
Profitability & Returns
Sales (TTM) ?
₹2,725 Cr
OPM ?
14.3%
Profit after tax (TTM) ?
₹273 Cr
EPS (TTM) ?
₹9.11
ROCE ?
21.0%
ROE ?
17.5%
ROA ?
9.7%
Growth
Sales — latest qtr ?
₹709 Cr
PAT — latest qtr ?
₹75 Cr
YoY qtr sales growth ?
65.7%
YoY qtr profit growth ?
341.2%
Sales growth (3y) ?
20%
Sales growth (5y) ?
27%
Profit growth (3y) ?
82%
Profit growth (5y) ?
100%
Financial Health
Debt ?
₹545 Cr
Debt to Equity ?
0.35
Interest Coverage ?
5.3
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 425153254365500312446545647511428704752559709 +65.7% +26.8%
Operating Profit 28419346339647810480301089473114 +279.7% +55.8%
Other Income 322224129111612622143 -76.7% -80.4%
Interest 12141113111110134892012131413 -35.0% -9.2%
Depreciation 66666666246126555 -58.7% +0.0%
Profit Before Tax 13-14418482560682478110796996899 -7.7% +45.1%
Net Profit 9-113133618425177601771775075 +341.2% +50.4%
EPS 0.33-0.410.110.472.501.282.833.392.552.000.562.372.581.662.50 +346.4% +50.6%
OPM % 6.6% 2.6% 7.5% 9.3% 12.5% 12.4% 14.3% 14.3% 16.1% 15.7% 7.0% 15.3% 12.6% 13.1% 16.1% +130.0% +22.9%

📆 Annual results (₹ Cr, FY = Apr–Mar)

Metric FY25 FY26 TTM YoY %
Sales ₹1,950 Cr ₹2,395 Cr ₹2,725 Cr +22.8%
Operating Profit ₹284 Cr ₹313 Cr ₹389 Cr +10.0%
OPM % 14.58% 13.06% 14.29% -10.4%
NPM % 9.64% 9.42% 10.03% -2.3%
Other Income ₹36 Cr ₹57 Cr ₹46 Cr +58.5%
Depreciation ₹42 Cr ₹30 Cr ₹21 Cr -29.6%
Interest ₹83 Cr ₹54 Cr ₹52 Cr -35.6%
EBIT ₹242 Cr ₹283 Cr ₹368 Cr +17.0%
PBT ₹400 Cr ₹383 Cr ₹362 Cr -4.1%
Tax ₹41 Cr ₹43 Cr ₹63 Cr +3.8%
Net Profit ₹188 Cr ₹226 Cr ₹273 Cr +20.0%
EPS ₹10.05 ₹7.51 ₹9.11 -25.3%
Material Cost ₹980 Cr ₹880 Cr ₹1,487 Cr -10.2%
Employee Cost ₹32 Cr ₹45 Cr ₹79 Cr +43.5%
Extraordinary Items — — — —

🏛️ Balance Sheet (latest 5 periods)

Metric Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026 % Chg
Equity Capital 1314303030 +0.1%
Reserves 3695251,1801,4101,532 +8.6%
Borrowings 323251260424545 +28.5%
Other Liabilities 445341578636712 +11.9%
Total Liabilities 1,1501,1312,0492,5002,818 +12.7%
Fixed Assets 136127144143154 +7.8%
CWIP 3562138266 +92.9%
Investments 68284199192 -3.3%
Other Assets 1,0059911,5592,0202,205 +9.2%
Total Assets 1,1501,1312,0492,5002,818 +12.7%

📦 Working Capital (latest 1 periods)

Metric Sep 2026 % Chg
Inventories 651 —
Trade Receivables 1,053 —
Trade Payables 395 —

💧 Cash Flow (latest 4 periods)

Metric Mar 2023Mar 2024Mar 2025Mar 2026 % Chg
Cash from Operating Activity 272899-59 -159.6%
Cash from Investing Activity 6-23-543-49 +91.0%
Cash from Financing Activity -42-6444113 -74.5%
Net Cash Flow -10-005 —
Free Cash Flow 1710-42-185 -340.5%
CFO/OP 35%40%44%13% -70.5%

💧 Half-year Cash Flow (latest 1 periods)

Metric Sep 2026 % Chg
Cash from Operating Activity 44 —
Cash from Investing Activity -132 —
Net Cash Flow -89 —

➗ Ratios (latest 4 periods)

Metric Mar 2023Mar 2024Mar 2025Mar 2026 % Chg
Debtor Days 16717283130 +56.6%
Inventory Days 8295106121 +14.2%
Days Payable 1139010565 -38.1%
Cash Conversion Cycle 13617784187 +122.6%
Working Capital Days 691143699 +175.0%
ROCE % 14%14%25%21% -16.0%

👥 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 ₹709 crore for the quarter ended September 2026 (Q2 FY27), up 65.7% from ₹428 crore in the same quarter last year, and up 26.8% sequentially over the June 2026 quarter.
What was Transformers And Rectifiers (India) Limited's net profit in Q2 FY27?
Net profit rose 341.2% year-on-year to ₹75 crore, from ₹17 crore. Earnings per share (EPS) came in at ₹2.50.
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 36.1.
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