Highlights

• TARIL has received an ₹ 389.97 Cr domestic transformer manufacturing order.
• The order comprises 53 transformers to be delivered by the next financial year.
• Total GETCO orders during the quarter reached ₹ 493.42 Cr.

Transformers and Rectifiers (NSE:TARIL) is a public limited company incorporated and domiciled in India. The company’s shares are listed on both NSE and BSE. As per the company’s recent regulatory filing, the contract involves the manufacturing and supply of 53 units of transformers of various types. The scope also includes related works associated with the manufacturing of these transformers.

The order is domestic in nature and falls within the company’s normal course of business, as per the disclosure. TRIL clarified that neither the promoter nor the promoter group, including group companies, has any interest in the awarding entity.

Execution Timeline and Nature of Transaction

The company stated that the delivery of the transformers is scheduled to be completed by the next financial year. The order does not qualify as a related party transaction, and it has been confirmed that it is not required to be conducted at arm’s length under applicable regulations.

Profitability Moderates Amid Lower Margins

For the September quarter, the company reported consolidated sales of ₹460 crore, reflecting a moderation compared to the immediately preceding quarters. Total expenses stood at ₹409 crore, resulting in an operating profit of ₹52 crore. The operating profit margin (OPM) came in at 11%, lower than the peak levels seen in Mar–Jun 2025 but still in double digits. Other income was ₹14 crore, while interest cost amounted to ₹13 crore and depreciation was ₹7 crore during the quarter. Consequently, the company posted a profit before tax (PBT) of ₹45 crore. With an effective tax rate of 18%, the net profit for the September quarter was ₹37 crore, translating into an earnings per share (EPS) of ₹1.13.

Quarterly Order Book Update

With the addition of this contract, Transformers and Rectifiers (India) Ltd has received cumulative orders worth ₹ 493.42 Cr from Gujarat Energy Transmission Corporation Limited during the ongoing quarter. The company highlighted this figure as part of its statutory communication to the exchanges.

Share Price Snapshot

TARIL was trading 1.82% lower at ₹ 293 per share at the time of writing on 25 November 2025.

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