| ₹ crore | Q2 FY27 | Q2 FY26 | Change |
|---|---|---|---|
| Revenue | 739 | 460 | +60.7% |
| EBITDA | 129 | 51.5 | +149.9% |
| EBITDA margin | 17.4% | 11.2% | +6.2 pts |
| Profit before tax | 110 | 45.3 | +142.7% |
| Net profit | 81.4 | 37.4 | +117.9% |
| EPS | ₹2.66 | ₹1.13 | +135.4% |
Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.
| Tap a line for its trend | Currentlast 12M | FY26Mar 2026 | FY25Mar 2025 | FY24Mar 2024 | FY23Mar 2023 | FY22 and earlierAlpha Plus |
|---|
| 9,477 | — | — | — | — | FY22 and earlierEvery year the company has filed comes with Alpha Plus. | |
| 159 | 159 | 243 | 5.3 | 5.3 | ||
| 32.5 | 28.2 | 20.4 | 8.5 | 7.7 | ||
| 457 | 457 | 283 | 256 | 330 | ||
| 9,807 | — | — | — | — | ||
| 2,831 | 2,509 | 2,019 | 1,295 | 1,381 | ||
| — | +24.2% | +56.0% | −6.2% | — | ||
| 466 | 383 | 300 | 134 | 121 | ||
| 16.4% | 15.3% | 14.9% | 10.4% | 8.8% | ||
| 436 | 353 | 300 | 109 | 96.9 | ||
| 313 | 272 | 216 | 47.0 | 42.4 | ||
| 11.1% | 10.9% | 10.7% | 3.6% | 3.1% | ||
| ₹10.43 | ₹9.07 | ₹7.14 | ₹1.48 | ₹1.36 | ||
| — | +27.0% | +381.5% | +9.3% | — | ||
| — | −105 | 157 | 29.2 | 28.4 | ||
| — | −109 | −235 | −0.6 | −10.3 | ||
| −215 | −215 | −78.2 | 28.6 | 18.1 | ||
From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.
In ₹ Crore except Per Share 12 Months Ending | FY23 31/03/2023 | FY24 31/03/2024 | FY25 31/03/2025 | FY26 31/03/2026 | Current/LTM TTM · last close | |
|---|---|---|---|---|---|---|
| Market Capitalization | — | — | — | — | 9,477.2 | |
| - Cash, Equiv & ST Investments | 5.3 | 5.3 | 242.9 | 159.4 | 158.9 | |
| + Minority Interest | 7.7 | 8.5 | 20.4 | 28.2 | 32.5 | |
| + Total Debt | 329.5 | 255.8 | 282.8 | 456.6 | 456.6 | |
| Enterprise Value | — | — | — | — | 9,807.4 | |
| Revenue | 1,380.9 | 1,294.7 | 2,019.4 | 2,508.8 | 2,831.2 | |
| Growth %, YoY | — | -6.2 | +56.0 | +24.2 | — | |
| EBITDA | 121.4 | 134.1 | 300.5 | 383.2 | 465.6 | |
| Margin % | 8.79 | 10.36 | 14.88 | 15.27 | 16.44 | |
| EBIT | 96.9 | 109.4 | 300.5 | 353.3 | 436.4 | |
| Net Income | 42.4 | 47.0 | 216.4 | 272.2 | 313.0 | |
| Margin % | 3.07 | 3.63 | 10.72 | 10.85 | 11.06 | |
| EPS, Adj (current shares) | 1.36 | 1.48 | 7.14 | 9.07 | 10.43 | |
| Growth %, YoY | — | +9.3 | +381.5 | +27.0 | — | |
| Cash from Operations | 28.4 | 29.2 | 156.6 | -105.4 | — | |
| Capital Expenditures | -10.3 | -0.6 | -234.8 | -109.4 | — | |
| Free Cash Flow | 18.1 | 28.6 | -78.2 | -214.8 | -214.8 | |
Prices at the 30 October 2026 close · figures from the company's filings with NSE
Transformers And Rectifiers (NSE: TARIL) had a market capitalisation of ₹8,955 crore at the 30 October 2026 close (₹298.30 a share), a PE ratio of 28.6 on the last four quarters' profit and a price-to-book ratio of 5.42. In FY26 its consolidated net profit was ₹272 crore on revenue of ₹2,509 crore; in Q2 FY27 (July–September 2026) it was ₹81.4 crore, up 117.9% year on year. Its debt-to-equity ratio was 0.34 on 30 September 2026. Promoters held 64.36% of the shares on 30 September 2026.
Transformers And Rectifiers' PE ratio is 28.6 at the 30 October 2026 close (₹298.30 a share): a market capitalisation of ₹8,955 crore divided by consolidated net profit of ₹313 crore over the last four quarters (Q3 FY26 to Q2 FY27). On FY26 net profit (₹272 crore) it is 32.9.
Transformers And Rectifiers' price-to-book (PB) ratio is 5.42 at the 30 October 2026 close: a market capitalisation of ₹8,955 crore divided by shareholders' equity (book value) of ₹1,653 crore on 30 September 2026. That is a book value of ₹55.05 per share against a share price of ₹298.30.
Transformers And Rectifiers' net worth — shareholders' equity in its consolidated balance sheet — was ₹1,653 crore on 30 September 2026, up 22.9% from ₹1,345 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹8,955 crore at the 30 October 2026 close.
Transformers And Rectifiers' market capitalisation was ₹8,955 crore at the 30 October 2026 close: 30.02 crore shares at ₹298.30 each.
No. Transformers And Rectifiers had borrowings of ₹574 crore on 30 September 2026 (consolidated balance sheet), a debt-to-equity ratio of 0.34. Its cash and current investments were ₹225 crore, so its net debt was ₹349 crore.
Transformers And Rectifiers' basic earnings per share (EPS) were ₹9.07 in FY26, against ₹7.21 in FY25. Over the last four quarters (Q3 FY26 to Q2 FY27) they add up to ₹10.21.
Transformers And Rectifiers' debt-to-equity ratio was 0.34 on 30 September 2026: borrowings of ₹574 crore against total equity of ₹1,685 crore. A year earlier, on 30 September 2025, it was 0.27.
Transformers And Rectifiers' book value per share was ₹55.05 on 30 September 2026: shareholders' equity of ₹1,653 crore divided by the 30.02 crore shares in issue, up 22.9% from ₹44.81 a year earlier. The share price at the 30 October 2026 close was ₹298.30.
Promoters held 64.36% of Transformers And Rectifiers on 30 September 2026, unchanged from both the previous quarter and a year earlier, according to the shareholding pattern filed with NSE.
In FY26, Transformers And Rectifiers' return on equity (ROE) was 19.7% and its return on capital employed (ROCE) was 23.4%. ROE is net profit divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities). In FY25, ROE was 23.7% and ROCE 29.9%.
Transformers And Rectifiers' dividend yield is 0.08% at the 30 October 2026 close: dividends of ₹0.25 a share that went ex-dividend in the 12 months before that day, divided by the share price of ₹298.30. They were ₹0.25 on 18 September 2026.
On 30 September 2026, Transformers And Rectifiers' shares were held by promoters 64.36%, foreign portfolio investors (FII/FPI) 6.99%, domestic institutions (DII) 1.19% (including mutual funds at 1.12%) and retail and other non-institutional investors 27.46%. Over the year, FII holding was down 4.22 percentage points from 11.21% and DII holding was down 4.76 percentage points from 5.95%.
In 2026, Transformers And Rectifiers has declared one dividend: ₹0.25 with record date 18 September 2026.
In FY26, Transformers And Rectifiers generated ₹105 crore of cash from operations and spent ₹109 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of −₹215 crore. In FY25 it was −₹78.2 crore.
Transformers And Rectifiers' latest results are for Q2 FY27 (July–September 2026), filed on 13 October 2026: consolidated net profit ₹81.4 crore, up 117.9% from ₹37.4 crore in Q2 FY26; revenue from operations ₹739 crore, up 60.7% year on year.
In FY26 (April 2025–March 2026), Transformers And Rectifiers' consolidated net profit was ₹272 crore, up 27.0% from ₹214 crore in FY25, on revenue from operations of ₹2,509 crore (up 24.2%). Over three years, from FY23, net profit was up 568.6%.
Transformers And Rectifiers has reported Q2 FY27. Its next results, for Q3 FY27 (October–December 2026), are due by 14 February 2027 under SEBI's 45-day rule; the company notifies the board-meeting date at least two working days before.
From Transformers And Rectifiers' own consolidated results, balance sheets and shareholding patterns filed with NSE, and NSE prices (the latest used here: the 30 October 2026 close). Ratios are calculated by Alphave from those filings as each answer describes.
Consolidated figures from the company's filings with NSE; prices are NSE closing prices.