Synopsis:
Transformers and Rectifiers (India) Limited (TARIL) secured a Rs. 389.97 crore order from GETCO for 53 transformers, boosting its order book to Rs. 493 crore. The stock rose 9%, reflecting strong revenue visibility and investor confidence.
This 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 etc is now in the focus after securing an order worth of Rs. 390 cr.
With market capitalization of Rs. 9,017 cr, the shares of Transformers and Rectifiers (India) Limited are currently trading at Rs. 299 per share, increasing 9% in today’s market session, making a high of Rs. 312.80, from its previous close of Rs. 287.60 per share. The stock delivered 5,349% in return over the past five years.
About the order
Transformers and Rectifiers (India) Limited (TARIL) has announced the receipt of a significant order valued at Rs. 389.97 crore from Gujarat Energy Transmission Corporation Limited (GETCO).
The order involves the manufacturing and supply of 53 units of various types of transformers, along with associated work. GETCO, a domestic entity, has awarded the contract, and the delivery of these transformers is scheduled to be completed by the next financial year.
The company confirmed that neither the promoter group nor related group companies hold any interest in GETCO, ensuring that the order does not fall under related-party transactions. TARIL clarified that the award is part of the company’s regular course of business. With this latest contract, TARIL’s order book from GETCO alone has increased to Rs. 493.42 crore for the current quarter, providing strong revenue visibility for the upcoming periods. As of September 30th, the order book stands at Rs. 5,500 cr.
About the company
TARIL continues to maintain its position as one of the leading transformer manufacturers globally and is currently the second-largest transformer producer in India based on capacity.
The company operates three advanced manufacturing facilities around Ahmedabad, Gujarat, equipped to produce a wide range of power, distribution, furnace, and specialty transformers. Supported by a skilled workforce of approximately 1,200 employees, TARIL emphasizes high-quality manufacturing and strong execution capabilities, helping the company secure major contracts from power utilities across the country.
The company boasts a strong ROCE of 28% and ROE of 23.4%, supported by a healthy debt-to-equity ratio of 0.27. Its P/E stands at 36.5, which remains below the industry average of 47.1. Over the past five years, the firm has achieved an exceptional 251% CAGR in profits.
The company reported flat YoY sales, with revenue at Rs. 460 crore in Q2FY26 compared to Rs. 462 crore a year earlier. EBITDA declined about 26% YoY to Rs. 51.5 crore, while net profit fell nearly 19% to Rs. 37.4 crore. EPS also moderated by around 25%, dropping to Rs. 1.13 from Rs. 1.51 in Q2FY25.
Written by Manideep Appana
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