Transformers & Rectifiers (India) announced plans to incorporate a subsidiary company in the United Kingdom, with shares rising 3% to touch an intraday high of ₹313.35 on Thursday, August 27. According to reports from The Economic Times, the company's board of directors approved incorporating UK-based Maxwell Grid Transformers, with the parent company investing up to GBP 10 million in one or more tranches through subscription to equity share capital, debt, guarantees and/or other permissible instruments. As per latest reports, the Initial Public Offering (IPO) will open on Tuesday, September 01, 2026, for subscription and close on Thursday, September 03, 2026. Investors can bid for a minimum of 84 Equity Shares and in multiples of 84 thereafter, with 82,000,000 Equity Shares outstanding as of the date.
The proposed subsidiary will hold a 51% shareholding with control in the proposed entity, with the number of shares to be determined upon its incorporation and subscription. As reported by The Economic Times, the proposed subsidiary will engage in manufacturing and repairing transformers, selling and distributing TARIL transformers, and trading in transformer components, which are in line with and ancillary to the main objects of the company.
According to reports from The Economic Times, Transformers & Rectifiers posted an 8.66% year-on-year fall in consolidated net profit to ₹61.52 crore for the June quarter of the 2026-27 financial year (Q1 FY27). In the corresponding period of the previous fiscal year, the company had clocked a profit of ₹67.35 crore. Sequentially, its profit dropped 31.09% quarter-on-quarter from ₹89.28 crore in the preceding quarter.
As reported by The Economic Times, the company's revenue from operations rose 8.12% YoY to ₹572.34 crore during the quarter under review, compared with ₹529.33 crore in the first quarter of the 2025-26 fiscal year (Q1 FY26). However, its revenue declined 26.87% QoQ from ₹782.67 crore in the March quarter of FY26. The Ahmedabad-headquartered firm's EBITDA stood at ₹110 crore in Q1 FY27, marking a marginal YoY rise from ₹109 crore in the corresponding quarter of the previous fiscal year, though its EBITDA margin contracted to 19.2% from 20.5% in the June quarter of the previous fiscal year.
According to NSE data as of August 26, 2026, Transformers & Rectifiers India has a total market capitalisation of ₹9,171.57 crore. As reported by The Economic Times, shares of the firm were trading at ₹305.65 apiece on the National Stock Exchange, rising 0.54% at 2:40 PM on Thursday. From the beginning of the year, Transformers & Rectifiers shares have fallen 1%, while on a year-on-year basis, it has dropped 38%. The shares had hit a 52-week high of ₹552 on September 23, 2025, and a 52-week low of ₹224.05 on February 2, 2026.
