Transformers & Rectifiers India Ltd
₹ 313
-2.89%
06 May
- close price
About
Transformers and Rectifiers (India) Ltd. is a manufacturer of Power, Furnace and Rectifier Transformers. [1]
Key Points
- Market Cap ₹ 9,382 Cr.
- Current Price ₹ 313
- High / Low ₹ 579 / 224
- Stock P/E 35.5
- Book Value ₹ 50.5
- Dividend Yield 0.06 %
- ROCE 23.3 %
- ROE 19.1 %
- Face Value ₹ 1.00
Pros
- Company has delivered good profit growth of 106% CAGR over last 5 years
Cons
- Promoter holding has decreased over last 3 years: -10.6%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
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Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 553 | 657 | 821 | 716 | 855 | 701 | 742 | 1,158 | 1,396 | 1,291 | 2,017 | 2,509 | |
| 523 | 618 | 733 | 650 | 794 | 649 | 673 | 1,084 | 1,275 | 1,157 | 1,689 | 2,126 | |
| Operating Profit | 31 | 38 | 87 | 65 | 61 | 51 | 69 | 74 | 121 | 134 | 327 | 383 |
| OPM % | 6% | 6% | 11% | 9% | 7% | 7% | 9% | 6% | 9% | 10% | 16% | 15% |
| 3 | 4 | 6 | 6 | 12 | 16 | 9 | 10 | 9 | 6 | 35 | 61 | |
| Interest | 32 | 38 | 42 | 44 | 46 | 46 | 46 | 44 | 48 | 51 | 51 | 51 |
| Depreciation | 13 | 15 | 15 | 16 | 19 | 20 | 19 | 17 | 25 | 25 | 27 | 30 |
| Profit before tax | -11 | -10 | 36 | 11 | 9 | 2 | 13 | 23 | 57 | 64 | 285 | 363 |
| Tax % | -34% | -32% | 34% | 41% | 41% | 44% | 39% | 39% | 26% | 27% | 24% | 25% |
| -8 | -7 | 24 | 6 | 5 | 1 | 8 | 14 | 42 | 47 | 216 | 272 | |
| EPS in Rs | -0.30 | -0.28 | 0.88 | 0.20 | 0.17 | 0.02 | 0.27 | 0.53 | 1.54 | 1.56 | 7.14 | 8.81 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 19% | 14% | 5% | 6% | 3% | 3% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 14% |
| 5 Years: | 28% |
| 3 Years: | 22% |
| TTM: | 24% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 44% |
| 5 Years: | 106% |
| 3 Years: | 87% |
| TTM: | 25% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 34% |
| 5 Years: | 98% |
| 3 Years: | 111% |
| 1 Year: | -35% |
| Return on Equity | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 17% |
| 3 Years: | 19% |
| Last Year: | 19% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 14 | 30 | 30 |
| Reserves | 321 | 313 | 312 | 317 | 322 | 323 | 330 | 343 | 381 | 540 | 1,222 | 1,485 |
| 157 | 164 | 209 | 399 | 263 | 308 | 263 | 325 | 330 | 256 | 283 | 457 | |
| 232 | 299 | 341 | 358 | 281 | 289 | 319 | 428 | 463 | 359 | 652 | 694 | |
| Total Liabilities | 723 | 789 | 876 | 1,088 | 880 | 933 | 925 | 1,109 | 1,187 | 1,170 | 2,187 | 2,666 |
| 192 | 185 | 187 | 195 | 201 | 193 | 181 | 168 | 153 | 144 | 251 | 250 | |
| CWIP | 11 | 11 | 6 | 12 | 3 | 2 | 0 | 3 | 3 | 5 | 62 | 138 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 4 | 268 | 184 |
| 519 | 592 | 682 | 881 | 676 | 738 | 744 | 936 | 1,030 | 1,017 | 1,605 | 2,093 | |
| Total Assets | 723 | 789 | 876 | 1,088 | 880 | 933 | 925 | 1,109 | 1,187 | 1,170 | 2,187 | 2,666 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 93 | 37 | 66 | -102 | 179 | 16 | 96 | 2 | 28 | 29 | 157 | -105 | |
| -30 | -5 | -24 | -31 | -8 | -15 | -7 | -8 | 9 | -22 | -625 | -7 | |
| -50 | -31 | -61 | 145 | -182 | 2 | -93 | 17 | -45 | -10 | 472 | 116 | |
| Net Cash Flow | 13 | 0 | -18 | 12 | -11 | 3 | -4 | 11 | -7 | -3 | 4 | 3 |
| Free Cash Flow | 61 | 29 | 55 | -132 | 163 | 7 | 91 | -6 | 19 | 14 | -75 | -215 |
| CFO/OP | 310% | 100% | 78% | -152% | 296% | 37% | 140% | 4% | 34% | 38% | 58% | 2% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 158 | 171 | 166 | 256 | 161 | 218 | 205 | 164 | 166 | 174 | 85 | 129 |
| Inventory Days | 147 | 155 | 120 | 182 | 109 | 153 | 147 | 104 | 93 | 109 | 118 | 133 |
| Days Payable | 160 | 209 | 149 | 203 | 114 | 161 | 179 | 129 | 118 | 95 | 109 | 62 |
| Cash Conversion Cycle | 145 | 117 | 138 | 235 | 156 | 210 | 173 | 139 | 141 | 188 | 94 | 199 |
| Working Capital Days | 76 | 77 | 63 | 57 | 55 | 73 | 94 | 60 | 68 | 119 | 34 | 102 |
| ROCE % | 4% | 6% | 15% | 9% | 8% | 8% | 9% | 10% | 15% | 15% | 28% | 23% |
Insights
In beta| Mar 2024 | Dec 2025 | |
|---|---|---|
| Aggregate Installed Capacity MVA ・Standalone data |
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| Inquiries under Negotiation INR Crores |
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| Plant Capacity - Changodar MVA ・Standalone data |
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| Plant Capacity - Moraiya MVA ・Standalone data |
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| Plant Capacity - Odhav MVA ・Standalone data |
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| Unexecuted Order Book (UEOB) INR Crores |
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| Plant Utilization % ・Standalone data |
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Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
27 Apr - Earning Call Transcript for audited financial result as of 31.03.2026
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Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
27 Apr - Received USD 16.26 million export order for 5 transformers, deliverable by mid-2027.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 23 Apr
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Announcement under Regulation 30 (LODR)-Newspaper Publication
22 Apr - Newspaper Publication for Annual financial result as of 31.03.2026
- Shareholder Meeting / Postal Ballot-Notice of Postal Ballot 22 Apr
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
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Financial Year 2023
from web
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
from nse
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Financial Year 2012
from bse
Concalls
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Apr 2026TranscriptPPTREC
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Apr 2026TranscriptPPT REC
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Jan 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Nov 2025TranscriptAI SummaryPPT
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Aug 2025Transcript PPT REC
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Apr 2025Transcript PPT REC
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Jan 2025Transcript PPT REC
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Oct 2024Transcript PPT REC
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Jul 2024TranscriptPPT
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Jul 2024Transcript PPT REC
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Jul 2024TranscriptAI SummaryPPT
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Apr 2024Transcript PPT
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Jan 2024Transcript PPT
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Nov 2023Transcript PPT
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Aug 2023Transcript PPT
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May 2023TranscriptAI SummaryPPT
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Feb 2023TranscriptAI SummaryPPT
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Nov 2022TranscriptAI SummaryPPT
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Aug 2022TranscriptAI SummaryPPT
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May 2022TranscriptAI SummaryPPT
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Feb 2022TranscriptAI SummaryPPT
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Nov 2021TranscriptAI SummaryPPT
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Nov 2021TranscriptAI SummaryPPT
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Aug 2021TranscriptAI SummaryPPT
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May 2021TranscriptAI SummaryPPT
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Feb 2021TranscriptAI SummaryPPT
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Nov 2020TranscriptAI SummaryPPT
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Sep 2020TranscriptAI SummaryPPT
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Jun 2020TranscriptAI SummaryPPT
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Feb 2020TranscriptAI SummaryPPT
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Nov 2019TranscriptAI SummaryPPT
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Aug 2019TranscriptAI SummaryPPT
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May 2019TranscriptAI SummaryPPT
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Feb 2019TranscriptAI SummaryPPT
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Nov 2018TranscriptAI SummaryPPT
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Aug 2018TranscriptAI SummaryPPT
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May 2018TranscriptAI SummaryPPT
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Feb 2018TranscriptAI SummaryPPT
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Nov 2017TranscriptAI SummaryPPT
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Sep 2017TranscriptAI SummaryPPT
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Feb 2017TranscriptAI SummaryPPT
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Nov 2016TranscriptAI SummaryPPT
Product Portfolio
The company is a leading Indian manufacturer of transformers & reactors. Its product portfolio includes Single-phase power transformers up to 500MVA & 1200kV Class, Furnace Transformers, Rectifier & Distribution Transformers, Specialty Transformers, Series & Shunt Reactors, Mobile Sub Stations, Earthing Transformers, etc. It operates on a B2B model, catering to power generation, transmission, distribution, & industrial sectors. [1]