Transformers and Rectifiers (India) quarterly results and financials

Transformers and Rectifiers (India) (TARIL)₹310.10−0.82%(9 Nov 2026 close)Heavy Electrical Equipment

Key facts

In the Sep 2026 quarter (consolidated), Transformers and Rectifiers (India) reported sales of ₹738 Cr, up 60.5% from Sep 2025, and net profit of ₹80.73 Cr, up 119.0% year on year. For the year to Mar 2026, sales were ₹2,505 Cr and net profit ₹271 Cr.

Sales (Sep 2026): ₹738 Cr
Net profit (Sep 2026): ₹80.73 Cr
Sales (FY Mar 2026): ₹2,505 Cr
Net profit (FY Mar 2026): ₹271 Cr
EPS (Sep 2026): ₹2.65
Borrowings (Mar 2026): ₹456 Cr

Company filings, consolidated accounts; latest reported quarter Sep 2026

Transformers and Rectifiers (India) quarterly results

₹ crore unless stated; each column is a quarter.

Transformers and Rectifiers (India) Quarterly results
	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Sales	369	513	322	462	559	675	529	460	736	782	572	738
Expenses	330	440	280	391	474	544	440	409	611	664	478	610
Operating Profit	37.91	71.84	41.90	68.76	84.71	131	87.76	51.86	125	118	92.76	129
OPM %	10.0%	14.0%	13.0%	15.1%	15.0%	19.0%	17.0%	11.1%	17.0%	15.0%	16.0%	17.0%
Other Income	2.01	1.01	4.02	12.05	9.04	10.04	20.08	14.06	4.02	22.10	16.06	3.01
Interest	12.97	10.96	11.97	9.96	13.97	14.96	9.98	12.97	12.97	13.96	14.97	13.97
Depreciation	5.99	5.99	6.99	5.99	5.99	6.99	7.99	6.99	7.99	7.01	6.99	7.01
Profit before tax	20.98	55.93	27.97	63.89	73.99	119	89.98	44.96	108	119	87.86	110
Tax %	24.0%	26.0%	25.0%	28.0%	25.0%	21.0%	25.0%	18.0%	30.0%	24.0%	27.0%	26.0%
Exceptional items	0.00	0.00	0.00	0.00	0.00	2.99	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit	15.93	41.84	20.91	45.82	54.82	93.68	66.76	36.86	75.71	90.68	63.81	80.73
EPS (Rs)	0.54	1.39	0.66	1.50	1.81	3.13	2.23	1.12	2.45	2.96	2.04	2.65

Transformers and Rectifiers (India) profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

Transformers and Rectifiers (India) Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	656	820	715	854	700	742	1,156	1,394	1,290	2,015	2,505	2,828
Expenses	617	732	649	793	648	672	1,083	1,274	1,155	1,686	2,122	2,363
Operating Profit	37.89	86.80	64.83	60.78	50.88	68.78	73.75	121	134	326	382	464
OPM %	6.0%	11.0%	9.0%	7.0%	7.0%	9.0%	6.0%	9.0%	10.0%	16.0%	15.0%	16.4%
Other Income	4.01	6.02	6.02	12.05	16.07	9.04	10.04	9.04	6.02	35.16	61.28	45.19
Interest	37.91	41.91	43.86	45.91	45.90	45.89	43.89	47.88	50.83	50.86	50.87	55.87
Depreciation	14.98	14.99	15.99	18.98	19.99	18.99	16.99	24.99	24.98	26.98	30.01	29.00
Profit before tax	−9.99	35.99	10.99	8.99	1.99	12.99	22.99	56.91	63.93	285	363	425
Tax %	−32.0%	34.0%	41.0%	41.0%	44.0%	39.0%	39.0%	26.0%	27.0%	24.0%	25.0%	—
Exceptional items	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	3.99	0.00	0.00
Net Profit	−6.97	23.90	5.98	4.98	0.99	7.97	13.95	41.87	46.82	215	271	311
EPS (Rs)	−0.27	0.87	0.19	0.16	0.01	0.26	0.52	1.53	1.55	7.13	8.80	10.10
Dividend payout %	0.0%	0.0%	0.0%	0.0%	0.0%	18.9%	13.9%	5.0%	6.0%	3.0%	0.0%	—

Transformers and Rectifiers (India) balance sheet

₹ crore, at each year end.

Transformers and Rectifiers (India) Balance sheet
	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	13.00	13.01	13.00	13.01	13.00	13.01	13.00	13.01	13.01	14.00	29.99	29.95
Reserves	322	314	313	318	323	324	331	344	382	541	1,224	1,485
Borrowings	157	164	209	399	263	308	263	325	330	256	283	456
Other Liabilities	231	298	339	356	280	288	317	426	461	357	649	693
Total Liabilities	722	789	875	1,087	879	932	924	1,108	1,186	1,169	2,185	2,662
Fixed Assets	192	185	187	195	201	193	181	168	153	144	251	250
CWIP	10.99	10.99	5.99	11.99	2.99	1.99	0.00	2.99	2.99	4.99	61.94	138
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.99	0.99	3.98	267	183
Other Assets	518	592	681	880	675	737	743	935	1,029	1,016	1,604	2,090
Inventories	170	195	201	266	196	214	219	262	273	276	446	616
Trade receivables	241	309	375	503	377	419	417	523	636	615	471	890
Cash & equivalents	33.08	35.06	24.05	41.12	27.05	37.06	27.06	46.08	23.06	27.07	173	141
Total Assets	722	789	875	1,087	879	932	924	1,108	1,186	1,169	2,185	2,662

Transformers and Rectifiers (India) cash flow

₹ crore, for each year.

Transformers and Rectifiers (India) Cash flow
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	92.89	36.93	65.86	−102	179	15.97	95.84	1.99	27.96	28.97	157	−105
Cash from investing activity	−30.01	−4.99	−24.01	−31.02	−7.99	−14.99	−6.99	−7.99	8.99	−21.99	−620	−7.01
Cash from financing activity	−49.91	−30.93	−60.84	145	−181	1.99	−92.83	16.95	−44.91	−9.98	467	116
Net cash flow	13.02	0.00	−18.03	12.01	−11.02	3.01	−4.01	11.01	−7.01	−3.01	4.01	3.01
Capex	31.92	8.98	11.97	29.90	15.97	9.98	5.98	8.97	9.97	15.95	235	109
Free cash flow	60.75	28.89	54.84	−132	162	6.97	90.66	−5.98	18.93	13.96	−77.76	−214
CFO / OP %	310.0%	100.0%	78.0%	−152.0%	296.0%	37.0%	139.9%	4.0%	33.9%	38.0%	58.0%	2.0%

Transformers and Rectifiers (India) ratios

Working-capital days and returns, by year.

Transformers and Rectifiers (India) Ratios
	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	161	210	150	204	115	162	180	130	119	96	110	63
Cash conversion cycle	146	118	139	236	157	211	174	140	142	189	95	201
Working capital days	77	78	64	58	56	74	95	61	69	120	35	81
ROCE %	4.0%	6.0%	15.0%	8.9%	8.0%	8.0%	9.0%	9.9%	14.9%	14.9%	27.9%	22.9%

Transformers and Rectifiers (India): frequently asked questions

What are the latest quarterly results of Transformers and Rectifiers (India)?

For the Sep 2026 quarter, Transformers and Rectifiers (India) reported sales of ₹738 Cr, up 60.5% year on year and net profit of ₹80.73 Cr, up 119.0% year on year. The operating margin was 17.0%.

What is the annual revenue of Transformers and Rectifiers (India)?

Transformers and Rectifiers (India)'s sales for the year to Mar 2026 were ₹2,505 Cr; over the last twelve months they were ₹2,828 Cr.

What is the net profit of Transformers and Rectifiers (India)?

Net profit for the year to Mar 2026 was ₹271 Cr, and ₹311 Cr over the last twelve months. Earnings per share over the same trailing period were ₹10.10.

How much debt does Transformers and Rectifiers (India) have?

Transformers and Rectifiers (India) reported borrowings of ₹456 Cr at Mar 2026, against cash and equivalents of ₹141 Cr.

What is the free cash flow of Transformers and Rectifiers (India)?

Cash from operations was −₹105 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹214 Cr.

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