Transformers And Rectifiers (India) Limited
Transformers And Rectifiers (India) Limited operates in Heavy Electrical Equipment, part of the Capital Goods sector. It booked ₹739 cr of revenue in its latest quarter (Q2 FY27) and kept 11.0% of sales as profit.
Healthier than 57% of companies in Capital Goods, on all six measures of filed financials. Each measure is ranked against the 20–127 companies that reported it.
Measures financial condition, not whether to buy. Learn what this score means · How this is calculated
- RSI (14)
- 49
At close. Not part of the score.
How much profit it earns on the money it employs
How much it owes, and whether earnings cover the interest
Whether reported profit actually arrives as cash
Whether sales and profit have grown, and how steadily
What today's price implies, against our models or its peers
How much of the promoters' stake is pledged, and how much they hold
What if I invest in TARIL?
Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.
The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.
P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.
An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.
| Revenue from Operations | ₹739 cr |
| Other Income | ₹3 cr |
| Total Income | ₹742 cr |
| Cost of Materials | ₹484 cr |
| Purchases of Stock-in-Trade | ₹4 cr |
| Inventory Change (±) | ₹17 cr |
| Employee Benefit Expense | ₹36 cr |
| Finance Costs | ₹14 cr |
| Depreciation & Amortisation | ₹7 cr |
| Other Expenses | ₹69 cr |
| Total Expenses | ₹632 cr |
| Profit before Tax | ₹110 cr |
| Tax Expense | ₹29 cr |
| Net Profit | ₹81 cr |
| Net margin on total income | 11.0% |
| Metric | Q4 FY26 | Q1 FY27 | Q2 FY27 |
|---|---|---|---|
| Revenue | 783 cr | 572 cr | 739 cr |
| Total income | 805 cr | 589 cr | 742 cr |
| Expenses | 686 cr | 501 cr | 632 cr |
| Profit before tax | 119 cr | 88 cr | 110 cr |
| Tax | 28 cr | 24 cr | 29 cr |
| Net profit (owners' share) | 91 cr | 64 cr | 81 cr |
| Net margin (owners' share, on revenue) | 11.7% | 11.2% | 11.0% |
| EPS (₹) | 3.04 | 2.05 | 2.66 |
| Company | Price | Market cap | P/E | ROE | Net margin | 1-yr return |
|---|---|---|---|---|---|---|
| Siemens Limited | ₹3,387 | ₹7.53 L cr | 87.8 | 61.9% | 45.5% | — |
| ABB India Limited | ₹6,605 | ₹1.40 L cr | 94.6 | 15.5% | 10.2% | — |
| Bharat Heavy Electricals Limited | ₹400 | ₹1.39 L cr | 42.4 | 12.3% | 8.8% | — |
| CG Power and Industrial Solutions Limited | ₹810 | ₹1.28 L cr | 77.3 | 18.9% | 10.8% | — |
| Hitachi Energy India Limited | ₹27,280 | ₹1.22 L cr | 103.3 | 22.7% | 11.8% | — |
| GE Vernova T&D India Limited | ₹4,050 | ₹1.04 L cr | 60.1 | 52.4% | 21.3% | — |
| Siemens Energy India Limited | ₹2,847 | ₹1.01 L cr | 57.5 | 36.7% | 17.7% | — |
| Suzlon Energy Limited | ₹36 | ₹49,179 cr | 30.8 | 15.3% | 8.1% | — |
| Thermax Limited | ₹3,151 | ₹35,498 cr | 351.7 | 1.8% | 1.1% | — |
| Action | Detail | Ex-date |
|---|---|---|
| Dividend | ₹0.25 / share | 18 Sep 2026 |
| Dividend | ₹0.2 / share | 9 May 2025 |
| Bonus issue | 1:1 | 14 Feb 2025 |
| Dividend | ₹0.2 / share | 10 May 2024 |
| Dividend | ₹0.15 / share | 28 Jul 2023 |
| Dividend | ₹0.15 / share | 28 Jul 2022 |
A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.
Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.
Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.
The company also transacted with 24 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.
Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.
When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.
As of Sep 2026, the company says it has spent 70% of what it set aside, leaving ₹158 cr still to be spent. India Ratings and Research Private Limited watches the spending on the exchange’s behalf.
“The proposed revision aligns QIP utilisation with business requirements and Monitoring Agency observations, while retaining the aggregate proceeds at Rs. 5,000.00 million and extending the utilisation timeline to 31st March, 2027.”the company’s own explanation, as filed · shareholders approved the change
As of Jun 2026, the company says it has spent 71% of what it set aside, leaving ₹145 cr still to be spent. India Ratings and Research Private Limited watches the spending on the exchange’s behalf.
“Utilisation in one of the object has been more than the limit as defined in the offer documents. Approval of the shareholder is pending for the same.”the company’s own explanation, as filed
Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing