Transformers And Rectifiers (India) Limited — PPTs, 20-07-2026: Investor Presentation

TARIL's Q1FY27 standalone revenue grew 10% YoY to ₹559 Cr. However, profit (PAT) declined 17% YoY to ₹49.9 Cr (EPS ₹1.66), and EBITDA dropped 10% YoY to ₹87.4 Cr. The QoQ revenue dip was primarily due to lower capacity utilization at its Changodar plant amidst ongoing expansion work. Strong new order inflow of ₹2,114 Cr (up 218% YoY) boosted the un-executed order book to a healthy ₹6,630 Cr, ensuring good revenue visibility.

Growth hinges on completing the Changodar plant expansion by August 2026 for better utilization and advanced backward integration (target Q1FY28 for full commissioning) to enhance cost efficiency and supply chain control. The company is strategically shifting towards high-voltage and niche products, capitalizing on India’s booming energy transition and grid modernization. TARIL secured major new orders totaling over ₹1,550 Cr, including a significant ₹1,000+ Cr order from PGCIL and export orders from USA. The company also completed dynamic short-circuit testing on four units, validating product robustness.

Management is bullish, targeting 25% revenue growth for FY27 with EBITDA margins of 16% and PAT margins of 9-10%. They confirmed adequate capacity to meet growth objectives, with ongoing capex for expansion and backward integration progressing as planned. Raw material volatility is mitigated by securing inputs at order receipt.