Transformers And Rectifiers (India) cash flow

Latest FY26

Cash from operations: −₹105cr₹157 cr in FY25
Capital spending: ₹109cr−53.4% on FY25
Free cash flow: −₹215cr−₹78.2 cr in FY25
Cash from financing: ₹116cr−75.3% on FY25

₹ crore except per share

Tap a line for its trend	Last 12Mto Sep 2026	FY26Mar 2026	FY25Mar 2025	FY24Mar 2024	FY23Mar 2023	FY22 and earlierAlpha Plus

Changes in working capital
Adjustments to reconcile profit — non-cash items						FY22 and earlierEvery year the company has filed comes with Alpha Plus.
	—	−29.9	27.0	24.7	24.5
	—	51.1	—	50.8	47.9
	—	−17.0	—	−2.5	−2.5
	—	−6.0	—	−0.4	0.0
	—	−5.7	—	−0.1	−1.6
	—	−37.0	—	0.0	0.0
	—	26.0	—	15.4	5.4
	—	−175	−170	−3.5	−9.5
	—	−280	—	17.1	−114
	—	−7.4	—	−0.2	−6.1
	—	−18.1	—	−12.3	5.0
	—	109	—	−104	21.8
	—	−4.3	—	0.2	0.6
	—	−186	—	−2.4	12.3
	—	−1.5	—	3.3	0.5
Cash from operating activities
	425	363	285	64.4	57.1
	—	−582	—	−13.9	−15.8
	—	−219	190	50.5	41.3
	—	−113	—	21.3	12.9
	—	−105	157	29.2	28.4
Cash from investing activities
	—	109	235	−0.6	10.3
	—	0.0	0.5	−15.8	0.0
	—	0.0	—	0.0	1.1
	—	−90.9	—	0.0	0.0
	—	12.3	—	2.5	2.5
	—	−1.2	—	−9.7	15.9
	—	−7.4	−625	−22.4	9.2
Cash from financing activities
	—	0.0	—	117	0.0
	—	7.7	—	0.0	0.0
	—	14.1	—	0.0	0.0
	—	0.0	0.0	1.0	50.9
	—	−188	—	74.2	44.7
	—	0.1	—	0.0	0.0
	—	—	—	0.6	0.6
	—	58.9	—	50.8	47.9
	—	7.0	—	2.0	2.0
	—	0.0	—	−0.2	0.0
	—	0.0	—	−0.8	−0.7
	—	116	469	−9.9	−44.9
	—	2.8	—	−3.1	−7.3
	—	2.8	3.7	−3.1	−7.3
	—	—	—	1.6	4.7
Reference items
	466	383	300	134	121
	16.4%	15.3%	14.9%	10.4%	8.8%
	−215	−215	−78.2	28.6	18.1
	—	−99.9	—	−95.9	—
	−₹7.16	−₹7.16	−₹2.61	₹0.95	₹0.60
	—	−0.39×	0.72×	0.62×	0.67×
	—	−113	—	21.3	12.9
	—	58.9	—	50.8	47.9

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From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

alphave

TARIL₹303.80

Transformers And Rectifiers (India) Ltd.

· Capital Goods & Defence

₹ CrorePeersVOLTAMP SYRMA TEGA SHYAMMETL TIMKEN TITAGARH RRKABEL USHAMARTMcap ₹9,117 Cr

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In ₹ Crore except Per Share 12 Months Ending	FY23 31/03/2023	FY24 31/03/2024	FY25 31/03/2025	FY26 31/03/2026	Last 12M 30/09/2026
Adjustments to Reconcile Profit — Non-cash Items
+ Depreciation & Amortisation	24.5	24.7	27.0	-29.9	—
+ Finance Costs	47.9	50.8	—	51.1	—
+ Interest Income	-2.5	-2.5	—	-17.0	—
+ Fair Value (Gains) / Losses	0.0	-0.4	—	-6.0	—
+ Unrealised FX (Gain) / Loss	-1.6	-0.1	—	-5.7	—
+ Other Non-cash Items	0.0	0.0	—	-37.0	—
+ Other Reconciling Items	5.4	15.4	—	26.0	—
Changes in Working Capital
+ Inventories	-9.5	-3.5	-170.1	-174.8	—
+ Trade Receivables — Current	-114.0	17.1	—	-280.3	—
+ Other Financial Assets — Current	-6.1	-0.2	—	-7.4	—
+ Other Current Assets	5.0	-12.3	—	-18.1	—
+ Trade Payables — Current	21.8	-104.1	—	109.5	—
+ Other Financial Liabilities — Current	0.6	0.2	—	-4.3	—
+ Other Current Liabilities	12.3	-2.4	—	-186.5	—
+ Provisions — Current	0.5	3.3	—	-1.5	—
Cash from Operating Activities
Profit Before Tax (per I/S)	57.1	64.4	284.8	363.0	425.2
+ Total Adjustments (incl. Working Capital)	-15.8	-13.9	—	-581.7	—
Cash from Operations (pre-tax)	41.3	50.5	190.4	-218.7	—
+ Income Taxes Paid	12.9	21.3	—	-113.3	—
Cash from Operating Activities	28.4	29.2	156.6	-105.4	—
Cash from Investing Activities
+ Acq of Fixed Assets (Capex)	10.3	-0.6	234.8	109.4	—
+ Disp of Fixed Assets	0.0	-15.8	0.5	0.0	—
+ Disp of Investment Property	1.1	0.0	—	0.0	—
+ Acq of Other Long-term Assets	0.0	0.0	—	-90.9	—
+ Interest Received — Investing	2.5	2.5	—	12.3	—
+ Other Inflows / (Outflows) — Investing	15.9	-9.7	—	-1.2	—
Cash from Investing Activities	9.2	-22.4	-625.1	-7.4	—
Cash from Financing Activities
+ Proceeds from Issue of Shares	0.0	117.4	—	0.0	—
+ Proceeds — Change in Ownership of Subsidiaries	0.0	0.0	—	7.7	—
+ Payments — Change in Ownership of Subsidiaries	0.0	0.0	—	14.1	—
+ Proceeds from Borrowings	50.9	1.0	0.0	0.0	—
+ Repayment of Borrowings	44.7	74.2	—	-187.9	—
+ Payment of Lease Liabilities	0.0	0.0	—	0.1	—
+ Payment of Finance Lease Liabilities	0.6	0.6	—	—	—
+ Interest Paid	47.9	50.8	—	58.9	—
+ Dividends Paid	2.0	2.0	—	7.0	—
+ Income Taxes (Paid) / Refund — Financing	0.0	-0.2	—	0.0	—
+ Other Inflows / (Outflows) — Financing	-0.7	-0.8	—	0.0	—
Cash from Financing Activities	-44.9	-9.9	468.5	115.6	—
Net Changes in Cash (pre-FX)	-7.3	-3.1	—	2.8	—
Net Changes in Cash	-7.3	-3.1	3.7	2.8	—
Closing Cash	4.7	1.6	—	—	—
Reference Items
EBITDA	121.4	134.1	300.5	383.2	465.6
EBITDA Margin %	8.79	10.36	14.88	15.27	16.44
Free Cash Flow (CFO − Capex)	18.1	28.6	-78.2	-214.8	-214.8
Free Cash Flow to Equity	—	-95.9	—	-99.9	—
Free Cash Flow per Basic Share	0.60	0.95	-2.61	-7.16	-7.16
Cash Flow to Net Income	0.67	0.62	0.72	-0.39	—
Cash Paid for Taxes	12.9	21.3	—	-113.3	—
Cash Paid for Interest	47.9	50.8	—	58.9	—

As filed, sign as filed: a payment tagged as a positive magnitude in the filing stays positive here, so read the label, not the sign. A line appears only when the company tagged that concept in at least one period shown — depth follows the filer, so a thin statement means a thin filing. Total Adjustments is the filer's own grand total of the reconciliation and spans BOTH the non-cash items and the working-capital block; Profit Before Tax plus it equals Cash from Operations (pre-tax). It can be reported when its components are not, so it is never a sum of the rows above it. No consensus estimates → no Est columns. Click any row to chart it.

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Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 95%.