Shares of this small-cap stock, engaged in manufacture of Power, Furnace and Rectifier Transformers hit the upper price band and 52-week high on Tuesday after Societe Generale and prominent FIIs bought a stake in the company.
Price Movement
In Tuesday’s trading session, Transformers & Rectifiers India Ltd share price reached a 52-week high of Rs.857.75 per share, rising 5 percent from its previous close of Rs.816.95 each. The share has been hitting the upper circuit for the last five sessions since the company announced a 24 times jump in the net profit for the quarter ended Sept. 30.
Block Deal
Jitendra Ujamsi Mamtora, promoter of Transformers And Rectifiers (India) Ltd., sold shares worth Rs.210.68 crore through open market transactions on Monday, as the stock hit the upper circuit for the fifth consecutive session, with shares rising over 20 percent. Mamtora sold 27 lakh shares, representing 1.79 percent, at Rs.780.30 per share.
New York State Teachers Retirement System acquired the largest portion, purchasing 13.60 lakh shares, followed by Societe Generale with 2.39 lakh shares, PRU World FD INC with 6.09 lakh shares, and Stallion Asset Pvt with 4 lakh shares. PGIM Jennison purchased 66,663 shares. All the buyers bought at the same average price of Rs.780.30 per share.
Shareholding Pattern
As of September 2024, the shareholding structure of Transformers And Rectifiers (India) Ltd. includes Promoters holding 66.16 percent, Public Investors with 17.57 percent, Foreign Institutional Investors (FII) owning 9.34 percent, and Domestic Institutional Investors (DII) holding 6.93 percent of the company.
Order Book
Transformers & Rectifiers India Ltd has an unexecuted order book of Rs.3,500 crore, with Rs.1,031 crore in new order inflows. Exceptional orders include a 420kV Synthetic Organic Ester Fluid Transformer and a 175MVA EAF Transformer. The company is also negotiating orders worth Rs.18,500 crore, with additional inquiries under consideration.
Financial Performance
Transformers And Rectifiers (India) Ltd. reported strong financial performance in Q2 FY25, with revenues rising 80 percent to Rs.462 crore, up from Rs.257 crore in Q2 FY24. Net profits saw an exceptional increase of 2,200 percent, reaching Rs.46 crore compared to Rs.2 crore in the same period.
About the company
Transformers & Rectifiers (India) Ltd is a prominent manufacturer of various types of transformers, including power and distribution transformers. The company operates three state-of-the-art manufacturing facilities in Ahmedabad and has achieved ISO certifications for quality management, environmental management, and occupational health and safety
Written by – Siddesh S Raskar
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