Transformers and Rectifiers (India) Ltd reported a 135 per cent year-on-year increase in consolidated net profit to ₹80 crore for the second quarter of FY27. Revenue from operations rose 61 per cent to ₹739 crore. The company got strong order inflows of ₹1,169 crore, helping its growth trajectory this year.
Revenue from operations rose 61 per cent year-on-year to ₹739 crore during the quarter
Ahmedabad-based Transformers and Rectifiers (India) Ltd (TARIL) reported a 135 per cent year-on-year increase in consolidated net profit to ₹80 crore for the second quarter of FY27, supported by strong revenue growth and robust order inflows.
Revenue from operations rose 61 per cent year-on-year to ₹739 crore during the quarter. TARIL reported an order inflow of ₹1,169 crore in Q2FY27, marking a 97 per cent increase from the year-ago period. Its unexecuted order book stood at ₹7,237 crore as of September 30, 2026, up 32 per cent year-on-year. The company in an official release stated that it expects to execute the order book over the next 18-24 months.
The company's inquiry pipeline under negotiation stood at approximately ₹21,000 crore, with a historical order win ratio of 10-15 per cent. Around 80 per cent of the current bidding pipeline comprises domestic opportunities, while the remaining 20 per cent comes from export markets. TARIL said the pipeline has a balanced mix of government and private customers across utility and industrial segments.
Manufacturing expansion
During the quarter, the company successfully completed dynamic short-circuit testing on three transformer units, a technical milestone that validates their ability to withstand extreme electrical and mechanical stresses under fault conditions in accordance with international standards. The company is also nearing completion of its transformer manufacturing expansion at Changodar near Ahmedabad, with commercial production expected to begin around Diwali. The additional capacity is expected to support the execution of its growing order book and drive further revenue growth.
Managing Director and CEO Satyen Mamtora stated that the company's performance in Q2FY27 reinforced confidence in its growth trajectory, supported by strong order inflows, improving capacity utilisation and progress on expansion initiatives. He added that the existing order book provides revenue visibility, while the Changodar expansion will help the company address a larger opportunity pipeline across markets.
TARIL is also strengthening its international customer engagement through its UK subsidiary, particularly in the US and European markets. The company has entered the nuclear power sector through the Nuclear Power Corporation of India Ltd's (NPCIL) Kaiga Units 5 and 6 project. It has also secured recent orders from Damodar Valley corporation and Gujarat Energy Transmission Corporation Ltd. The company said investments in capacity expansion, technology and backward integration would support its long-term growth plans amid India's focus on strengthening power infrastructure, energy security and domestic manufacturing.
The company's shares ended 3.05 per cent higher at ₹303.80 on the BSE.