Transformers & Rectifiers posts strong FY26 growth

Transformers & Rectifiers (India) Ltd (TARIL) reported steady financial growth in the fourth quarter (Q4) and full year FY26, with higher revenue and profitability across standalone and consolidated operations. The performance reflects continued execution strength and order inflows during the year.

In Q4 FY26, revenue from operations stood at Rs 75,233 lakhs, up 16.2% year-on-year (YoY). Earnings before interest, tax, depreciation and amortisation (EBITDA) rose to Rs 11,690 lakhs, a 4.6% increase, with a margin of 15.1%. Profit after tax (PAT) was reported at Rs 7,731 lakhs, up 1.0% YoY, with a margin of 10.0%. On a consolidated basis, revenue reached Rs 78,267 lakhs, up 15.7% YoY, while EBITDA stood at Rs 14,085 lakhs, up 1.9%, with a margin of 17.5%. Consolidated PAT came in at Rs 9,110 lakhs, marking a 3.3% YoY decline.

For FY26, standalone revenue from operations increased to Rs 2,39,549 lakhs, registering a 22.8% YoY growth. EBITDA rose to Rs 36,996 lakhs, up 16.8%, with a margin of 15.1%. PAT stood at Rs 22,547 lakhs, reflecting a 20.1% increase, with a margin of 9.2%. Consolidated revenue for the year was Rs 2,50,880 lakhs, up 24.2% YoY. Consolidated EBITDA reached Rs 44,403 lakhs, up 23.6%, with a margin of 17.3%, while PAT rose 25.6% YoY to Rs 27,209 lakhs.

Operationally, TARIL reported an unexecuted order book of about Rs 5,005 crore as of March 31, 2026. Order inflows for FY26 stood at around Rs 2,374 crore. The company indicated that inquiries under negotiation exceed Rs 23,000 crore, reflecting demand visibility. During the year, TARIL also secured a repair order for a high voltage direct current (HVDC) transformer from Power Grid Corporation of India Limited (PGCIL).

Separately, the board approved the re-appointment of Mr. Rajendra S. Shah as an Independent Director for a second term of five years, effective May 25, 2026, subject to shareholder approval.

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