Transformers and Rectifiers (India) Limited (TARIL) has officially confirmed the leadership transition in its finance department, with Chanchal SS Rajora stepping down as Chief Financial Officer and Mehul Shah appointed as the new CFO effective March 5, 2026. According to the company's latest board meeting confirmation, the board of directors took Rajora's resignation from the CFO position on record with immediate effect. Rajora will continue to serve as Director (Finance) and remain part of the senior management team, with the company clarifying there are no material reasons for his resignation from the CFO position.
Based on the recommendation of the Nomination and Remuneration Committee, the board has appointed Mehul Shah as the CFO. As confirmed by the company, Shah is a Chartered Accountant with more than 26 years of experience in strategic accounting, financial operations, fund management, compliance, taxation and corporate governance. His previous experience includes working with companies such as Nirma Limited, Adani Enterprises Limited, Reliance Logistics Private Limited, Arvind Smart Spaces Limited, Gujarat Ambuja Exports Limited and Asian Granito India Limited. The company stated that the board is satisfied that Shah possesses the required qualifications and experience to effectively discharge the responsibilities of the role.
For the December quarter, TARIL reported robust financial results with net profit rising 34.5% year-on-year to ₹74 crore from ₹35 crore in the corresponding quarter last year. According to CNBC TV18, revenue increased 32% YoY to ₹737 crore from ₹559 crore, while EBITDA surged 49% to ₹125 crore from ₹84 crore last year. EBITDA margin expanded to 17% from 15% in Q3FY25, demonstrating improved operational efficiency and profitability.
Following the announcement, shares of Transformers and Rectifiers (India) Ltd. rose 0.91% to ₹292.45 as of 1:28 pm, as reported by CNBC TV18. The stock has gained 15.91% over the last month, though it has lost 26.69% in the past 12 months. The positive market response reflects investor confidence in the company's leadership transition and strong quarterly financial performance.
