Transformers And Rectifiers (India) Ltd.
TARILIndustrials filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
14 transcript(s)/analyst meet(s) served; 6 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 14 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| COVER_LETTER | 20230811 | 2023-06-30 | no | |
| TRANSCRIPT | 20230816 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231108 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240129 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240415 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240727 | 2024-06-30 | yes | |
| DUPLICATE | 20240727 | 2024-06-30 | no | |
| TRANSCRIPT | 20250804 | 2024-06-30 | yes | |
| TRANSCRIPT | 20241010 | 2024-09-30 | yes | |
| DUPLICATE | 20241010 | 2024-09-30 | no | |
| TRANSCRIPT | 20251117 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250116 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250415 | 2025-03-31 | yes | |
| DUPLICATE | 20250804 | 2025-06-30 | no | |
| TRANSCRIPT | 20260725 | 2025-06-30 | yes | |
| TRANSCRIPT | 20260116 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260427 | 2026-03-31 | yes | |
| DUPLICATE | 20260427 | 2026-03-31 | no | |
| DUPLICATE | 20260725 | 2026-06-30 | no |
TARIL
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
The closes are adjusted for every split and bonus on record inside the period this series covers, and each adjustment is checked against the price move on its ex-date.
| Last close | 280.40 |
| 52-week range | 229.58 – 524.2 |
| Return 1M | -8.92% |
| Return 3M | -16.16% |
| Return 1Y | -46.51% |
| Return 3Y | 247.03% |
| Return 5Y | 1980.89% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 572.00 |
| Other income | 16.00 |
| Total income | 589.00 |
| Cost of materials consumed | 456.00 |
| Purchases of stock-in-trade | 2.00 |
| Changes in inventories | -70.00 |
| Employee benefit expense | 23.00 |
| Finance costs | 15.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.64 | 0.00 |
| institutions foreign | 0.08 | -0.01 |
| institutions domestic | 0.02 | -0.00 |
| mutual funds | 0.01 | -0.00 |
| public | 0.36 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| COVER_LETTER | 2023-06-30 | 1 |
| DUPLICATE | 2026-06-30 | 5 |
| TRANSCRIPT | 2026-03-31 | 13 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-03-31 | 2022-06-30 | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 339.00 | 282.00 | 307.00 | 328.00 | 434.00 | 156.00 | 257.00 | 369.00 | 513.00 | 322.00 | 462.00 | 559.00 | 460.00 | 737.00 | 783.00 | 572.00 |
| Other income | 4.00 | 2.00 | 2.00 | 4.00 | 1.00 | 2.00 | 1.00 | 2.00 | 1.00 | 4.00 | 12.00 | 9.00 | 14.00 | 4.00 | 22.00 | 16.00 |
| Total income | 344.00 | 284.00 | 309.00 | 332.00 | 434.00 | 157.00 | 258.00 | 371.00 | 514.00 | 326.00 | 473.00 | 568.00 | 474.00 | 741.00 | 805.00 | 589.00 |
| Cost of materials consumed | 286.00 | 175.00 | 237.00 | 296.00 | 286.00 | 183.00 | 190.00 | 234.00 | 288.00 | 271.00 | 339.00 | 380.00 | 468.00 | 420.00 | 540.00 | 456.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 11.00 | 11.00 | 9.00 | 10.00 | 5.00 | 6.00 | 0.00 | 1.00 | 2.00 | 2.00 | 2.00 | 1.00 | 2.00 |
| Changes in inventories | -8.00 | 54.00 | -9.00 | -63.00 | 47.00 | -85.00 | -6.00 | 36.00 | 57.00 | -47.00 | -18.00 | 16.00 | -155.00 | 80.00 | -7.00 | -70.00 |
| Employee benefit expense | 8.00 | 8.00 | 9.00 | 11.00 | 13.00 | 9.00 | 10.00 | 10.00 | 18.00 | 11.00 | 12.00 | 13.00 | 26.00 | 22.00 | 39.00 | 23.00 |
| Finance costs | 13.00 | 10.00 | 13.00 | 12.00 | 12.00 | 15.00 | 12.00 | 13.00 | 11.00 | 12.00 | 10.00 | 14.00 | 13.00 | 13.00 | 14.00 | 15.00 |
| Depreciation and amortisation | 3.00 | 4.00 | 4.00 | 9.00 | 7.00 | 6.00 | 6.00 | 6.00 | 6.00 | 7.00 | 6.00 | 6.00 | 7.00 | 8.00 | 7.00 | 7.00 |
| Other expenses | 38.00 | 22.00 | 37.00 | 42.00 | 44.00 | 34.00 | 34.00 | 46.00 | 72.00 | 44.00 | 59.00 | 63.00 | 67.00 | 88.00 | 91.00 | 69.00 |
| Total expenses | 341.00 | 274.00 | 291.00 | 319.00 | 420.00 | 173.00 | 255.00 | 350.00 | 458.00 | 298.00 | 409.00 | 495.00 | 429.00 | 633.00 | 686.00 | 501.00 |
| Profit before exceptional items and tax | 2.00 | 10.00 | 18.00 | 14.00 | 15.00 | -15.00 | 3.00 | 21.00 | 56.00 | 28.00 | 64.00 | 74.00 | 45.00 | 108.00 | 119.00 | 88.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 2.00 | 10.00 | 18.00 | 14.00 | 15.00 | -15.00 | 3.00 | 21.00 | 56.00 | 28.00 | 64.00 | 74.00 | 45.00 | 108.00 | 119.00 | 88.00 |
| Current tax | 2.00 | 4.00 | 6.00 | -0.00 | 8.00 | 0.00 | 0.00 | 5.00 | 17.00 | 9.00 | 17.00 | 19.00 | 10.00 | 35.00 | 31.00 | 21.00 |
| Deferred tax | -1.00 | 0.00 | 0.00 | 0.00 | -2.00 | -3.00 | 1.00 | -0.00 | -2.00 | -2.00 | 2.00 | -0.00 | -2.00 | -3.00 | -3.00 | 2.00 |
| Tax expense | 2.00 | 4.00 | 6.00 | -0.00 | 5.00 | -3.00 | 1.00 | 5.00 | 14.00 | 7.00 | 18.00 | 18.00 | 8.00 | 32.00 | 28.00 | 24.00 |
| Profit for the period | 0.00 | 6.00 | 12.00 | 14.00 | 10.00 | -12.00 | 2.00 | 16.00 | 42.00 | 21.00 | 46.00 | 55.00 | 37.00 | 76.00 | 91.00 | 64.00 |
| Profit attributable to owners | 1.00 | 6.00 | 12.00 | 14.00 | 9.00 | 0.00 | 2.00 | 16.00 | 40.00 | 20.00 | — | — | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit attributable to non-controlling interests | -1.00 | 0.00 | 1.00 | 0.00 | 1.00 | 0.00 | 0.00 | 0.00 | 2.00 | 1.00 | — | — | 0.00 | 0.00 | 0.00 | 0.00 |
| Other comprehensive income | -0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 10.00 | 0.00 | -0.00 | 0.00 |
| Total comprehensive income | 0.00 | 6.00 | 12.00 | 14.00 | 10.00 | -12.00 | 2.00 | 16.00 | 42.00 | 21.00 | 46.00 | 56.00 | 47.00 | 76.00 | 91.00 | 64.00 |
| Earnings per share, basic | 0.10 | 0.48 | 0.87 | 1.04 | 0.68 | -0.95 | 0.12 | 1.10 | 2.80 | 1.40 | 3.04 | 3.67 | 1.13 | 2.46 | 3.04 | 2.05 |
| Earnings per share, diluted | 0.10 | 0.48 | 0.87 | 1.04 | 0.68 | -0.95 | 0.12 | 1.10 | 2.80 | 1.40 | 3.04 | 3.67 | 1.13 | 2.46 | 3.04 | 2.05 |
Annual results, as filed
| Line | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|
| Revenue from operations | 701.00 | 742.00 | 1,158.00 | 1,381.00 | 1,295.00 | 2,509.00 |
| Other income | 16.00 | 10.00 | 13.00 | 8.00 | 6.00 | 61.00 |
| Total income | 717.00 | 752.00 | 1,172.00 | 1,389.00 | 1,300.00 | 2,570.00 |
| Cost of materials consumed | 532.00 | 534.00 | 975.00 | 996.00 | 896.00 | 1,770.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 49.00 | 29.00 | 8.00 |
| Changes in inventories | -23.00 | 7.00 | -51.00 | 28.00 | 2.00 | -83.00 |
| Employee benefit expense | 32.00 | 28.00 | 32.00 | 41.00 | 48.00 | 106.00 |
| Finance costs | 46.00 | 46.00 | 44.00 | 48.00 | 51.00 | 51.00 |
| Depreciation and amortisation | 20.00 | 19.00 | 17.00 | 25.00 | 25.00 | 30.00 |
| Other expenses | 108.00 | 104.00 | 131.00 | 145.00 | 186.00 | 325.00 |
| Total expenses | 715.00 | 739.00 | 1,148.00 | 1,332.00 | 1,236.00 | 2,207.00 |
| Profit before exceptional items and tax | 2.00 | 13.00 | 23.00 | 57.00 | 64.00 | 363.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 2.00 | 13.00 | 23.00 | 57.00 | 64.00 | 363.00 |
| Current tax | 1.00 | 2.00 | 7.00 | 19.00 | 22.00 | 96.00 |
| Deferred tax | 0.00 | 3.00 | 2.00 | -4.00 | -5.00 | -5.00 |
| Tax expense | 1.00 | 5.00 | 9.00 | 15.00 | 17.00 | 91.00 |
| Profit for the period | 1.00 | 8.00 | 14.00 | 42.00 | 47.00 | 272.00 |
| Profit attributable to owners | 0.00 | 7.00 | 14.00 | 41.00 | 44.00 | 0.00 |
| Profit attributable to non-controlling interests | 1.00 | 1.00 | 0.00 | 2.00 | 3.00 | 0.00 |
| Other comprehensive income | 0.00 | 0.00 | -0.00 | 0.00 | 0.00 | -0.00 |
| Total comprehensive income | 1.00 | 8.00 | 14.00 | 43.00 | 47.00 | 272.00 |
| Earnings per share, basic | 0.03 | 0.55 | 1.06 | 3.07 | 3.24 | 9.07 |
| Earnings per share, diluted | 0.03 | 0.55 | 1.06 | 3.07 | 3.24 | 9.07 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|
| Total assets | 1,032.00 | 1,186.00 | 1,266.00 | 1,168.00 | 1,755.00 | 2,390.00 | 2,666.00 |
| Non-current assets | 202.00 | 196.00 | 179.00 | 180.00 | 232.00 | 638.00 | 792.00 |
| Current assets | 830.00 | 990.00 | 1,087.00 | 989.00 | 1,523.00 | 1,752.00 | 1,874.00 |
| Property, plant and equipment | 163.00 | 147.00 | 140.00 | 137.00 | 138.00 | 228.00 | 230.00 |
| Capital work-in-progress | 1.00 | 3.00 | 6.00 | 4.00 | 21.00 | 93.00 | 138.00 |
| Goodwill | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3.00 | 3.00 |
| Other intangible assets | 7.00 | 6.00 | 4.00 | 7.00 | 8.00 | 0.00 | 17.00 |
| Inventories | 259.00 | 271.00 | 373.00 | 275.00 | 354.00 | 632.00 | 616.00 |
| Trade receivables | 464.00 | 635.00 | 607.00 | 614.00 | 658.00 | 527.00 | 887.00 |
| Cash and cash equivalents | 6.00 | 5.00 | 1.00 | 2.00 | 6.00 | 46.00 | 8.00 |
| Total equity and liabilities | 1,032.00 | 1,186.00 | 1,266.00 | 1,168.00 | 1,755.00 | 2,390.00 | 2,666.00 |
| Equity | 382.00 | 401.00 | 389.00 | 563.00 | 1,113.00 | 1,369.00 | 1,543.00 |
| Equity share capital | 13.00 | 13.00 | 13.00 | 14.00 | 15.00 | 30.00 | 30.00 |
| Other equity | 362.00 | 380.00 | 368.00 | 540.00 | 1,088.00 | 1,315.00 | 1,485.00 |
| Total liabilities | 650.00 | 785.00 | 878.00 | 605.00 | 642.00 | 1,021.00 | 1,123.00 |
| Non-current liabilities | 84.00 | 77.00 | 69.00 | 66.00 | 31.00 | 83.00 | 90.00 |
| Current liabilities | 566.00 | 708.00 | 809.00 | 539.00 | 611.00 | 937.00 | 1,032.00 |
| Borrowings, non-current | 67.00 | 64.00 | 60.00 | 53.00 | 19.00 | 59.00 | 67.00 |
| Borrowings, current | 169.00 | 266.00 | 323.00 | 203.00 | 225.00 | 307.00 | 390.00 |
| Trade payables | 323.00 | 346.00 | 330.00 | 241.00 | 278.00 | 320.00 | 290.00 |
Cash flow, as filed
| Line | 2022-03-31 | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 2.00 | 100.00 | 28.00 | -15.00 | 29.00 | -38.00 | -29.00 | -105.00 |
| Net cash from investing activities | -8.00 | 6.00 | 9.00 | -14.00 | -22.00 | -406.00 | 6.00 | -7.00 |
| Net cash from financing activities | 17.00 | -112.00 | -45.00 | 25.00 | -10.00 | 449.00 | 63.00 | 116.00 |
| Purchase of property, plant and equipment | 9.00 | 3.00 | 10.00 | 6.00 | -1.00 | 60.00 | 63.00 | 109.00 |
| Net increase in cash | 11.00 | -6.00 | -7.00 | -3.00 | -3.00 | 5.00 | 41.00 | 3.00 |
| con:CFO.BEFORE_TAX | 6.00 | 109.00 | 41.00 | -3.00 | 50.00 | -22.00 | 31.00 | -219.00 |
| con:INTEREST_RECEIVED.OPERATING | -3.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 1.00 | 9.00 | 13.00 | 12.00 | 21.00 | 16.00 | 59.00 | -113.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 297.00 | -71.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 0.00 | 0.00 | 0.00 | 0.00 | -16.00 | 0.00 | 1.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-10-13 | 2023-12-31 | 2024-03-31 | 2024-06-14 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-02-17 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 69.65 | 69.65 | 69.65 | 66.16 | 66.16 | 66.16 | 64.36 | 64.36 | 64.36 | 64.36 | 0.64 | 0.64 | 0.64 | 0.64 |
| Domestic institutions | 0.01 | 0.01 | 1.89 | 5.36 | 6.33 | 6.92 | 7.67 | 7.52 | 7.22 | 6.03 | 0.06 | 0.04 | 0.02 | 0.02 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 5.22 | 0.06 | 0.04 | 0.02 | 0.01 |
| Insurance companies | 0.00 | 0.00 | 0.00 | 0.30 | 0.28 | 0.29 | 0.31 | 0.34 | 0.06 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 |
| Foreign institutions | 0.38 | 3.48 | 4.45 | 7.89 | 8.00 | 9.34 | 11.08 | 11.22 | 11.33 | 10.94 | 0.11 | 0.07 | 0.08 | 0.08 |
| Government | — | — | — | — | — | — | — | — | — | — | — | — | 0.00 | 0.00 |
| Public | 30.35 | 30.35 | 30.35 | 33.84 | 33.84 | 33.84 | 35.64 | 35.64 | 35.64 | 35.64 | 0.36 | 0.36 | 0.36 | 0.36 |
| Non-institutional | 29.97 | 26.87 | 24.01 | 20.58 | 19.51 | 17.57 | 16.89 | 16.89 | 17.09 | 18.67 | 0.18 | 0.24 | 0.26 | 0.26 |
| Shares outstanding | 142564121 | 142564121 | 142564121 | 150082917 | 150082917 | 150082917 | 150082917 | 300165834 | 300165834 | 300165834 | 300165834 | 300165834 | 300165834 | 300165834 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Savas Engineering Company Pvt. Ltd. | Subsidiary | Purchase of goods or services, Sale of goods or serv | 230,555,000.00 | 12 |
| Transpares Limited | Subsidiary | Purchase of goods or services, Sale of goods or serv | 198,554,100.00 | 4 |
| Taril Switchgear Private Limited | Joint ventures where entity is ven | Any other transaction, Purchase of goods or services | 194,163,200.00 | 4 |
| Transweld MechnicalEngineering Works Limited | Subsidiary | Purchase of goods or services, Sale of goods or serv | 159,132,600.00 | 6 |
| Taril Infrastructure Ltd | Subsidiary | Any other transaction, Purchase of goods or services | 149,364,300.00 | 6 |
| Harsha Engineers International Limited | Independent Director is Whole-time | Purchase of goods or services, Sale of goods or serv | 120,828,700.00 | 4 |
| Mr. Satyen J Mamtora | Key management personnel of entity | Dividend paid, Interest paid, Loan, Remuneration | 81,980,500.00 | 8 |
| Mr. Jitendra U. Mamtora | Key management personnel of entity | Dividend paid, Interest paid, Loan, Remuneration | 76,966,300.00 | 8 |
| Skytrek Tours & Travels | Enterprise over which KMP is havin | Purchase of goods or services | 18,053,700.00 | 2 |
| Mrs. Karuna Mamtora | Key management personnel of entity | Dividend paid, Remuneration | 9,062,300.00 | 4 |
| Mr. Chanchal Rajora | Key management personnel of entity | Remuneration | 8,400,000.00 | 2 |
| Mr. Sunil Jain | Key management personnel of entity | Remuneration | 3,800,000.00 | 2 |
| Benchmark HR Solutions (India) LLP | Enterprise over which KMP is havin | Purchase of goods or services | 3,523,900.00 | 2 |
| Jitendra U. Mamtora (HUF) | Key management personnel of entity | Dividend paid | 2,731,900.00 | 2 |
| Mr. Mohnish Jain | Key management personnel of entity | Remuneration | 1,796,000.00 | 2 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-07-25 | Q1FY26 | CHIEF EXECUTIVE OFFICER | Read the call |
| 2026-04-27 | Q4FY26 | MANAGEMENT LIMITED | Read the call |
| 2026-01-16 | Q3FY26 | MANAGEMENT LIMITED | Read the call |
| 2025-11-17 | Q2FY25 | TRANSFORMERSAND RECTIFIERS INDIA LIMITED, Yes, you are. | Read the call |
| 2025-08-04 | Q1FY26 | LIMITED | Read the call |
| 2025-04-15 | Q4FY25 | LIMITED | Read the call |
| 2025-01-16 | Q3FY25 | MANAGEMENT LIMITED | Read the call |
| 2024-10-10 | Q2FY25 | EQUITIES | Read the call |
| 2024-07-27 | Q1FY25 | Read the call | |
| 2024-04-15 | Q4FY24 | Read the call | |
| 2024-01-29 | Q3FY24 | Read the call | |
| 2023-11-08 | Q2FY24 | Read the call | |
| 2023-08-16 | Q1FY24 | & RECTIFIERS (INDIA) LIMITED, ANALYST:, YOUNG | Read the call |
Some earlier announcements under this heading are covering letters only — no transcript was attached.
What they said about it, quarter by quarter
| Topic | Q2FY24 | Q2FY25 | Q3FY24 | Q3FY25 | Q3FY26 | Q4FY24 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | And what's our CAPEX plan if you could outline that also? | — | Now, ours is not a seasonal industry and the capex cycle in our country is moving at a very fast pace, especially on the energy generation and transmi… | In terms of the 15,000 MVA capex that we are incurring right now, where are we in terms of the process right now? | — | And what will be the cost to capex for this plant? | In the next 15 months, the company will be spending INR550 crores on capex expansions to strengthen its organic as well as backward integration growth… | So are we seeing any slowdown in the capex or is it temporary or like one or two quarter execution spill over? |
| Capital allocation | — | No, as bushing is concerned, we are not doing acquisition, we are importing. | — | And lastly, sir, is it possible to throw some more light on the acquisition that you have made as to the cost of the acquisition? | — | — | And more than the margins and these things, this acquisition will improve us the quality as well as the operational efficiency and delivery time, whic… | — |
| Costs | 163 crore and presently it's almost 100% utilized and we have non fund based limits of around Rs 650 crore which is majorly used for the bank guarante… | So the raw material of this product is being tied up by completely. | Like in America, we have been saying that Americathe raw material to sales ratio is something like 0.3. | The cost of the radiator in the transformer raw material, if you consider the transformer raw material, the cost of the radiator will be around 8% to … | — | Currently, we are quoting at 68% of raw material, right? | We proudly completed acquisition of a controlling stake in a CRGO processing unit by achieving 100% backward integration in one of the most critical r… | Could you throw some more light on what other raw materials is disrupted due to this Hormuz closure? |
| Debt and cash | The decline in revenue was on account of: Transformers & Rectifiers (India) Limited November 03,2023 ► Non-receipt of dispatch instruction from few cu… | So going forward, how are the working capital terms on these exports, right, because considering the shipping angle that you have to export, do we rec… | Firstly, on working capital, sir, in terms of working capital levels or debtor levels, where would we be for the9Months? | Where the current gross debt on the balance sheet and the net working capital absolute figure? | Sir, my question is what is our cash flow position for 9 months? | So, these funds are going to be utilized for that purpose and part of this will also be utilized to reduce the working capital burden on the company. | Debt-to-equity ratio reduced to 0.2 % compared to 0.84% last year, reflecting our progress towards becoming a net debt-free company. | And how should we think about capacity expansion plan over the next 2 to 3 years and how cash flow will be utilized from it? |
| Demand | First question is that the order book what you have of Rs. | And my absolute last question would be what percentage of our order book is currently exports? | Out of new orders received during the quarter Rs.72 crore are for exports. During 9MFY24, the total order inflow is Rs.1,636 crore. The unexecuted… | And sir, while going through your presentation, I noticed that the order booking is in Q3 is INR631 crores, which was actually more than INR1,000 cror… | These expansions will support higher volumes, improve execution flexibility and enable us to cater to a strong demand visibility we see across all our… | First, if you can just help us understand the demand outlook across segments and especially for the exports market. | This robust inflow has resulted in an unexecuted order book of INR5,132 crores as of March 31, 2025, ensuring clear revenue visibility for the next 15… | This robust inflow has resulted in unexecuted order book of INR 5,000- plus crores as of March 31, 2026, ensuring clear revenue visibility for the nex… |
| Guidance | So, we have a sizable amount pending with them, which we expect to receive in the second half of this year. | And was it part of the guidance that we are trying to consider for the full year? | Anything said on this call, which reflects the outlook for the future, or which could be construed as a forward-looking statement must be reviewed in … | And, sir, the long-term guidance of $1 billion revenue, which in the presentation in the last conference call, which was, sir, we are seeing that in t… | Looking ahead, we expect strong Transformers and Rectifiers India Limited January 08, 2026 order inflow during the second half, supported by a robust … | With the orders in hand and inquiries under negotiation we expect the growth journey of the company has begun and we expect tremendous improvement in … | Your leadership has been instrumental in guiding us through a period of strong execution and growth. | And sir, regarding the guidance, actually in the last 3 quarters, I think this is the second quarter where we have missed our guidance like the revenu… |
| Margin | During the quarter and half year, the EBITDA was at Rs 21 crore and Rs 27 crore, a de-growth by 35% and 51% respectively. | Yes, my second question was on the margin. | The improvement in profitability is on account of higher margin accretive product mix. During 9MFY24, revenue from operations was at ₹ 773 crore D… | And now we are more focused on the orders, which has got the high margin as well as the payment terms are quite good. | In Q3 FY '26, the company delivered revenues of INR704.21 crores with an EBITDA of INR114 crores. | First, I will elaborate on Q4 results. ► During Q4FY24, the revenue from operations was at ₹ 500 crore, a 18% growth from ₹ 425 crore in Q4FY23. ► EBI… | In Q4 FY '25, our stand-alone revenue stood at INR647 crores with EBITDA margin of the quarter at 17.1% and Transformers and Rectifiers (India) Limite… | These steps will further increase our margin profile by 150 bps to 200 bps. Looking ahead, as we transition into FY '27, our focus remains firmly on s… |
| People | I just wanted to know the fund-based facility available, and its current utilization fund based, and non-fund based? | Also just wanted to gain an understanding of the capacity utilization, that is... | — | Secondly, in terms of, one, the utilization of the QIP funds that we raised some time back and the benefit of the backward integration and M&A that yo… | Improved execution, better project conversion and enhanced capacity utilization and tighter cost controls across the organization have contributed mea… | Sir, I wanted to first ask what will be your utilization level at the current 36,000 to 37,000 MVA capacity which we currently have? | Safe to say that, you are now operating at 70%-75% utilization and that will get fully utilized in the next year? | No. See, Moraiya, we still have -- we have -- Moraiya plant is working at about 75% plant utilization. |
| Pricing | As far as the margins is concerned, the export market margins are much, much higher than the indigenous market pricing vis-a-vis the payment condition… | As Chairman sir just explained you right now, the pricing is not a constraint, constraint is the timeline. | — | Second point, as I told you time and again, I was mentioning that we wanted to leverage on the pricing as well as on the payment terms. | And why only two qualified vendors in this industry and what are the technical barriers to entry here and what is the opportunity size and how sustain… | — | So, we don't want to increase the pricing to open the door for others that is what is meaning. | — |
| Revenue growth | Unexecuted order book as on 30 September 2023 is Rs.2,145 crore, a growth of 57% over H1FY23. | So why do we then feel like margin will still end up maintaining at the current levels, what is happening between the top line and EBITDA that we migh… | During the quarter, the company received new orders worth Rs.701 crore; growth of 69% YoY basis vs Rs.414 crore orders received during same period l… | That is one thing I can make you sure that it is going to add a significant improvement in my top line as well as in my bottom line. | For the full financial year, we remain confident of delivering at least 25% revenue growth over FY '25. | — | This has directly translated into record high revenue growth, supported by strong execution and healthy and diversified order book. | This has directly translated into record high revenue growth, supported by strong execution and healthy diversified order book. |