Transformers and Rectifiers (India) Ltd. shares rose 1.31% to ₹355.90 following the announcement of a significant order win from Power Grid Corporation of India Ltd. (PGCIL). According to exchange filings on BSE, the company secured a ₹1,000 crore order for manufacturing transformers of various ratings along with all associated work, with execution scheduled over the next 30 months. The order encompasses manufacturing transformers of various ratings along with all associated work, with execution scheduled over the next 30 months. The win falls under TARIL's 'Ultra Mega Order' category, consisting of orders worth ₹1,000 crore and above, making it particularly significant for the company's business prospects. As per Business Standard, the company confirmed that neither its promoters, promoter group nor group companies have any interest in the awarding entity, and the contract is not a related-party transaction.
After the initial surge, shares traded 1.31% higher at ₹355.90 on the NSE as of 9:51 a.m. on Tuesday, as reported by Business Standard. This performance contrasted sharply with the 0.04% decline in the benchmark Nifty index around the same time. The stock has demonstrated strong year-to-date performance with a 24% rise, though it has declined 28% over the last 12 months. The positive market response reflects investor confidence in the company's ability to execute this substantial order, with shares trading 4.91% higher at ₹349.15 on the NSE at 2:59 p.m. IST on Monday, according to CNBC TV18.
Despite the order win, the company's recent financial performance shows mixed results. According to regulatory filings, Transformers and Rectifiers posted a net profit of ₹89.28 crore during Q4FY26, representing a 5.2% decline compared to ₹94.16 crore in the corresponding period last year. However, the company's revenue showed strong growth with a 15.7% year-on-year increase to ₹782.67 crore in Q4FY26. The company's order book stood at ₹5,005 crore at the end of FY26, providing substantial revenue visibility. For FY27, it has guided for revenue of ₹3,200 crore and EBITDA margins of 15-17%, as reported by CNBC TV18.
The order win comes as India continues to expand its power transmission network to support rising electricity demand and the integration of renewable energy into the grid. Demand for transformers has remained strong in recent years, driven by higher investment in transmission and distribution infrastructure. Power Grid is India's largest state-owned power transmission company responsible for developing and operating the country's interstate electricity transmission network. The company operates three manufacturing facilities and maintains presence in both domestic and global markets, with a total manufacturing capacity exceeding 75,000 MVA per annum and production capabilities up to the 1,200 kV class.
