Transformers And Rectifiers (India) Limited — Investor Meet, 27-04-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Transformers and Rectifiers (India) Limited delivered record FY26 consolidated revenue of INR 2,509 Cr & PAT of INR 272 Cr. Q4 standalone revenue hit INR 752 Cr. The company's order book stands at over INR 5,000 Cr, providing 18-month revenue visibility. Management is now strategically focused on selective, high-margin orders, avoiding long-term volume commitments. An HVDC repair order from PGCIL marks entry into a new high-tech segment. Backward integration is on track, expected to boost margins by 200-300 bps. Capacity expansion at Changodar and Moraiya is progressing, aiming for 95% utilization. FY27 revenue outlook is around INR 3,250 Cr, targeting 35-40% growth. Management expresses confidence in sustainable margin improvement and long-term vision despite prior project delays.