
About Transformers and Rectifiers (India) Limited
Data last updated:
Transformers and Rectifiers (India) Limited is a public limited company based in Ahmedabad, Gujarat, India. It operates in the power equipment manufacturers segment of the energy and power sector. It was incorporated on 11 July 1994 and has been in existence for over 32 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN L33121GJ1994PLC022460. Its GSTIN is 24AACCT8243P1ZV (Gujarat). The company holds 7 GST registrations, of which 1 is active. Its shares are listed on BSE: 532928 and NSE: TRIL.
The company has an authorised share capital of ₹50 Cr and a paid-up capital of ₹30.02 Cr. It was formerly known as Triveni Electric Company Limited. It is led by directors including Satyen Jitendra Mamtora (Managing Director) and Jitendra Ujamsi Mamtora (Whole-Time Director).
Its last annual general meeting (AGM) was held on 13 May 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Ahmedabad, Gujarat.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹2,508.8 Cr, a growth of 24.24% compared to the previous year. The net worth stands at ₹1,514.83 Cr (up 21% YoY). Total assets are valued at ₹2,023.16 Cr (up 27.6% YoY).
The company has about 627 employees on its provident fund (EPFO) records. Its group structure includes 5 subsidiaries.
The company is associated with 1 brand: Transformers & Rectifiers. As per MCA filings, the company has open charges of ₹1,457.11 Cr and satisfied charges of ₹401.63 Cr on record.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website transformerindia.com.
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered AddressSurvey No. 427 P/3 – 4 & 431 P/1 – 2 Sarkhej Bavla Highway Village:Moraiya, Tal:Sanand, Ahmedabad, Gujarat, India – 382213
- IndustryEnergy and Power, Power Equipment Manufacturers
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
- One PDF report, delivered after checkout
CIN History of Transformers and Rectifiers (India)
Transformers and Rectifiers (India) has one previous CIN (Corporate Identification Number): U33121GJ1994PLC022460. The current CIN is L33121GJ1994PLC022460, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L33121GJ1994PLC022460 | Current |
| U33121GJ1994PLC022460 | Previous |
Associated Brands with Transformers and Rectifiers (India)
Transformers and Rectifiers (India) operates one associated brand: Transformers & Rectifiers. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Manufacturer of transformers and rectifier | transformerindia.com |
Business Activity of Transformers and Rectifiers (India)
The main business activity of Transformers and Rectifiers (India) is manufacturing. In detail, this covers electrical equipment, general purpose and special purpose machinery & equipment, transport equipment.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| C | Manufacturing | C10 | Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment | Locked |
Business activity turnover details for Transformers and Rectifiers (India) Limited
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Auditor Details of Transformers and Rectifiers (India)
Transformers and Rectifiers (India) Limited is audited by Manubhai & Shah LLP for the financial year 2025.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Manubhai & Shah LLP | Locked | Locked | Locked |
Complete auditor history for Transformers and Rectifiers (India) Limited
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Board of Directors of Transformers and Rectifiers (India) Limited
Transformers and Rectifiers (India) has 6 current directors and 18 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Satyen Jitendra Mamtora | Managing Director | 01 Apr 2010 | 16 Years 6 Months | Current |
| Jitendra Ujamsi Mamtora | Whole-Time Director | 11 Jul 1994 | 32 Years 2 Months | Current |
| Karunaben Jitendra Mamtora Also directs: Transpares Limited, Taril Infrastructure Limited | Whole-Time Director | 11 Jul 1994 | 32 Years 2 Months | Current |
| Subir Kumar Das Also directs: M & B Engineering Limited, Troikaa Pharmaceuticals Limited, Cadila Pharmaceuticals Limited and 2 more | Director | 14 Nov 2018 | 7 Years 10 Months | Current |
| Rajendra Shantilal Shah Also directs: Harsha Engineers International Limited, Ratnamani Metals and Tubes Limited, Harsha Engineers Advantek Limited and 1 more | Director | 25 May 2021 | 5 Years 4 Months | Current |
| Tanvi Vishal Rangwala | Director | 22 Jan 2024 | 2 Years 8 Months | Current |
Financials of Transformers and Rectifiers (India) Limited FY 2025-26 filings available
Transformers and Rectifiers (India) Limited reported revenue of ₹2,508.8 Cr (up 24.24% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 2,509 | 2,019 | 1,295 | 1,396 | 1,162 | 742 | 701 |
| Revenue growth | +25.6% | +45.8% | -9.0% | +17.2% | +61.5% | +3.7% | -18.2% |
| EBITDA | 383 | 327 | 134 | 121 | 74.08 | 68.46 | 51.35 |
| EBITDA margin | +15.3% | +16.2% | +10.4% | +8.7% | +6.4% | +9.2% | +7.3% |
| Profit before tax | 363 | 285 | 64.40 | 57.07 | 23.31 | 12.51 | 1.86 |
| Net profit | 264 | 210 | 44.23 | 40.72 | 13.96 | 7.16 | 0.40 |
| Net profit margin | +10.5% | +10.4% | +3.4% | +2.9% | +1.2% | +1.0% | +0.1% |
| EPS (₹) | 8.81 | 7.14 | 3.12 | 3.07 | 1.06 | 0.53 | 0.03 |
| Balance sheet | |||||||
| Total assets | 2,023 | 1,586 | 832 | 743 | 697 | 621 | 660 |
| Net worth | 1,515 | 1,252 | 554 | 394 | 357 | 343 | 336 |
| Total debt | 457 | 283 | 256 | 330 | 325 | 263 | 308 |
| Cash & bank | 141 | 172 | 27.25 | 22.88 | 46.38 | 26.83 | 37.04 |
| Net working capital | 1,080 | 561 | 648 | 548 | 505 | 413 | 444 |
| Cash flow | |||||||
| Cash from operations | (105) | 157 | 29.16 | 28.39 | 1.89 | 96.43 | 16.36 |
| Cash from investing | (7.40) | (621) | (22.44) | 9.16 | (8.01) | (6.96) | (15.20) |
| Cash from financing | 116 | 468 | (9.86) | (44.88) | 17.21 | (93.08) | 1.57 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 572 | 783 | 737 | 460 | 529 | 676 | 559 | 462 |
| Revenue growth (YoY) | +8.1% | +15.7% | +31.7% | -0.3% | +64.4% | +31.9% | +51.4% | +79.6% |
| Other income | 16.31 | 22.37 | 4.26 | 13.92 | 20.31 | 10.18 | 8.96 | 11.77 |
| EBITDA | 93.34 | 118 | 125 | 51.52 | 88.19 | 131 | 84.81 | 69.20 |
| EBITDA margin | +16.3% | +15.1% | +17.0% | +11.2% | +16.7% | +19.4% | +15.2% | +15.0% |
| Depreciation | 6.82 | 7.01 | 8.08 | 7.27 | 7.55 | 7.28 | 6.49 | 6.41 |
| Interest | 14.80 | 14.37 | 13.37 | 12.87 | 10.47 | 14.92 | 13.54 | 10.48 |
| Profit before tax | 88.03 | 119 | 108 | 45.30 | 90.48 | 119 | 73.74 | 64.08 |
| Tax | 23.74 | 28.08 | 31.82 | 7.95 | 23.02 | 25.04 | 18.25 | 18.17 |
| Net profit | 64.29 | 91.39 | 75.97 | 37.35 | 67.46 | 94.20 | 55.49 | 45.91 |
| EPS (₹) | 2.05 | 3.04 | 2.53 | 1.13 | 2.24 | 3.14 | 3.67 | 3.04 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 2,395 | 1,950 | 1,273 | 1,375 | 1,129 | 727 | 683 |
| Revenue growth | +25.0% | +44.4% | -9.1% | +19.4% | +60.2% | +4.2% | -17.9% |
| EBITDA | 313 | 284 | 120 | 106 | 66.09 | 63.50 | 46.14 |
| EBITDA margin | +13.1% | +14.6% | +9.4% | +7.7% | +5.9% | +8.7% | +6.8% |
| Profit before tax | 302 | 247 | 56.09 | 48.42 | 20.97 | 10.73 | 0.70 |
| Net profit | 218 | 165 | 40.63 | 37.24 | 13.06 | 7.02 | 0.53 |
| Net profit margin | +9.1% | +8.5% | +3.2% | +2.7% | +1.2% | +1.0% | +0.1% |
| EPS (₹) | 7.51 | 6.25 | 2.88 | 2.80 | 0.98 | 0.52 | 0.04 |
| Balance sheet | |||||||
| Total assets | 1,887 | 1,482 | 803 | 716 | 673 | 597 | 637 |
| Net worth | 1,440 | 1,210 | 539 | 382 | 347 | 335 | 328 |
| Total debt | 424 | 260 | 251 | 323 | 316 | 254 | 301 |
| Cash & bank | 139 | 167 | 25.39 | 18.41 | 44.64 | 25.70 | 36.03 |
| Net working capital | 1,009 | 538 | 617 | 535 | 492 | 399 | 433 |
| Cash flow | |||||||
| Cash from operations | (58.56) | (33.86) | 28.06 | 26.74 | (5.88) | 94.58 | 10.29 |
| Cash from investing | (48.76) | (409) | (22.52) | 5.51 | (3.89) | (5.59) | (11.01) |
| Cash from financing | 113 | 443 | (5.81) | (42.24) | 20.00 | (92.69) | 3.69 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 559 | 752 | 704 | 428 | 511 | 647 | 545 | 446 |
| Revenue growth (YoY) | +9.6% | +16.2% | +29.1% | -3.9% | +63.9% | +29.4% | +49.3% | +75.3% |
| Other income | 14.28 | 22.42 | 5.66 | 12.39 | 16.38 | 11.18 | 9.05 | 11.78 |
| Total expenses | 486 | 658 | 596 | 398 | 430 | 544 | 467 | 382 |
| EBITDA | 73.09 | 94.48 | 108 | 29.97 | 80.32 | 104 | 77.91 | 63.86 |
| EBITDA margin | +13.1% | +12.6% | +15.4% | +7.0% | +15.7% | +16.0% | +14.3% | +14.3% |
| Depreciation | 5.06 | 5.26 | 5.67 | 6.00 | 6.25 | 6.27 | 5.91 | 5.82 |
| Interest | 14.28 | 12.62 | 12.36 | 10.75 | 9.19 | 13.33 | 13.31 | 10.27 |
| Profit before tax | 68.03 | 99.02 | 95.97 | 25.61 | 81.26 | 95.37 | 67.74 | 59.55 |
| Tax | 18.16 | 21.55 | 24.94 | 8.81 | 21.11 | 18.78 | 17.23 | 17.45 |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 572 | 783 | 737 | 460 | 529 | 676 | 559 | 462 |
| Revenue growth (YoY) | +8.1% | +15.7% | +31.7% | -0.3% | +64.4% | +31.9% | +51.4% | +79.6% |
| Other income | 16.31 | 22.37 | 4.26 | 13.92 | 20.31 | 10.18 | 8.96 | 11.77 |
| EBITDA | 93.34 | 118 | 125 | 51.52 | 88.19 | 131 | 84.81 | 69.20 |
| EBITDA margin | +16.3% | +15.1% | +17.0% | +11.2% | +16.7% | +19.4% | +15.2% | +15.0% |
| Depreciation | 6.82 | 7.01 | 8.08 | 7.27 | 7.55 | 7.28 | 6.49 | 6.41 |
| Interest | 14.80 | 14.37 | 13.37 | 12.87 | 10.47 | 14.92 | 13.54 | 10.48 |
| Profit before tax | 88.03 | 119 | 108 | 45.30 | 90.48 | 119 | 73.74 | 64.08 |
| Tax | 23.74 | 28.08 | 31.82 | 7.95 | 23.02 | 25.04 | 18.25 | 18.17 |
| Net profit | 64.29 | 91.39 | 75.97 | 37.35 | 67.46 | 94.20 | 55.49 | 45.91 |
| EPS (₹) | 2.05 | 3.04 | 2.53 | 1.13 | 2.24 | 3.14 | 3.67 | 3.04 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 2,509 | 2,019 | 1,295 | 1,396 | 1,162 | 742 | 701 |
| Revenue growth | +25.6% | +45.8% | -9.0% | +17.2% | +61.5% | +3.7% | -18.2% |
| Other income | 60.85 | 34.94 | 5.82 | 8.69 | 9.81 | 9.60 | 15.87 |
| Total expenses | 2,126 | 1,692 | 1,161 | 1,275 | 1,088 | 674 | 650 |
| Employee cost | 106 | 60.07 | 47.70 | 41.18 | 32.44 | 28.44 | 32.36 |
| EBITDA | 383 | 327 | 134 | 121 | 74.08 | 68.46 | 51.35 |
| EBITDA margin | +15.3% | +16.2% | +10.4% | +8.7% | +6.4% | +9.2% | +7.3% |
| Depreciation | 29.91 | 26.96 | 24.73 | 24.53 | 16.99 | 19.34 | 19.59 |
| Interest | 51.08 | 50.60 | 50.80 | 47.97 | 43.59 | 46.21 | 45.77 |
| Profit before tax | 363 | 285 | 64.40 | 57.07 | 23.31 | 12.51 | 1.86 |
| Tax | 90.87 | 68.41 | 17.39 | 14.72 | 9.02 | 4.88 | 0.81 |
| Net profit | 264 | 210 | 44.23 | 40.72 | 13.96 | 7.16 | 0.40 |
| Net profit margin | +10.5% | +10.4% | +3.4% | +2.9% | +1.2% | +1.0% | +0.1% |
| EPS (₹) | 8.81 | 7.14 | 3.12 | 3.07 | 1.06 | 0.53 | 0.03 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 30.02 | 30.02 | 14.26 | 13.26 | 13.26 | 13.26 | 13.26 |
| Reserves & surplus | 1,485 | 1,222 | 540 | 381 | 343 | 330 | 323 |
| Shareholders' funds (net worth) | 1,515 | 1,252 | 554 | 394 | 357 | 343 | 336 |
| Minority interest | 28.16 | 20.43 | 8.51 | 6.73 | 6.74 | 7.17 | 7.34 |
| Secured loans | 193 | 176 | 160 | 254 | 240 | 213 | 219 |
| Unsecured loans | 263 | 107 | 96.37 | 76.53 | 84.86 | 50.18 | 89.48 |
| Total debt | 457 | 283 | 256 | 330 | 325 | 263 | 308 |
| Total liabilities | 2,023 | 1,586 | 832 | 743 | 697 | 621 | 660 |
| Assets | |||||||
| Gross block | 454 | 426 | 292 | 277 | 272 | 268 | 262 |
| Net block | 250 | 251 | 144 | 153 | 168 | 181 | 193 |
| Capital work in progress | 138 | 61.76 | 5.18 | 3.37 | 3.43 | 0.05 | 1.62 |
| Investments | 184 | 268 | 4.18 | 0.85 | 0.51 | 0.43 | 0.27 |
| Inventories | 617 | 446 | 276 | 273 | 263 | 219 | 214 |
| Sundry debtors | 887 | 469 | 614 | 635 | 522 | 416 | 418 |
| Cash & bank balances | 141 | 172 | 27.25 | 22.88 | 46.38 | 26.83 | 37.04 |
| Loans & advances | 78.70 | 75.09 | 68.68 | 59.65 | 78.94 | 50.20 | 44.84 |
| Total current assets | 1,724 | 1,162 | 986 | 991 | 910 | 711 | 714 |
| Total current liabilities | 644 | 601 | 338 | 443 | 405 | 299 | 271 |
| Net working capital | 1,080 | 561 | 648 | 548 | 505 | 413 | 444 |
| Total assets | 2,023 | 1,586 | 832 | 743 | 697 | 621 | 660 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 5.27 | 1.61 | 4.75 | 12.08 | 0.98 | 4.60 | 1.87 |
| Net cash from operating activities | (105) | 157 | 29.16 | 28.39 | 1.89 | 96.43 | 16.36 |
| Net cash from investing activities | (7.40) | (621) | (22.44) | 9.16 | (8.01) | (6.96) | (15.20) |
| Net cash from financing activities | 116 | 468 | (9.86) | (44.88) | 17.21 | (93.08) | 1.57 |
| Net change in cash | 2.83 | 3.66 | (3.14) | (7.33) | 11.09 | (3.62) | 2.73 |
| Closing cash | 141 | 172 | 27.25 | 22.88 | 46.38 | 26.83 | 37.04 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +24.2% | +56.0% | -7.3% | +20.2% | +56.6% | +5.9% | -18.1% |
| EBITDA growth | +17.0% | +144.2% | +10.9% | +63.2% | +8.2% | +33.3% | -16.2% |
| PBT growth | +27.5% | +342.3% | +12.8% | +144.8% | +86.3% | +572.6% | -78.5% |
| Net income growth | +26.0% | +374.7% | +8.6% | +191.7% | +95.0% | +1690.0% | -91.4% |
| Revenue CAGR (3Y) | +21.6% | +20.2% | +20.4% | +25.8% | +10.7% | +1.2% | -5.1% |
| EBITDA CAGR (3Y) | +46.9% | +64.1% | +25.1% | +33.0% | +6.5% | +1.6% | -16.2% |
| Profitability & leverage | |||||||
| Net income margin | +10.9% | +10.7% | +3.6% | +3.0% | +1.2% | +1.0% | +0.2% |
| Return on capital employed | +23.3% | +28.1% | +14.8% | +14.7% | +10.3% | +9.3% | +7.6% |
| Return on net worth | +19.7% | +24.0% | +9.9% | +11.3% | +4.1% | +2.3% | +0.3% |
| Debt / equity | 0.27 | 0.30 | 0.62 | 0.87 | 0.84 | 0.84 | 0.85 |
| Long-term debt / equity | 0.05 | 0.07 | 0.12 | 0.16 | 0.18 | 0.16 | 0.10 |
| Interest cover | 14.46 | 16.84 | 46.44 | 49.79 | 76.35 | 94.08 | 144.11 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 5.70 | 5.62 | 4.54 | 5.08 | 4.30 | 2.80 | 2.74 |
| Inventory turnover | 4.72 | 5.59 | 4.71 | 5.21 | 4.82 | 3.43 | 3.42 |
| Debtors turnover | 3.70 | 3.73 | 2.07 | 2.41 | 2.48 | 1.78 | 1.76 |
| EPS (₹) | 8.81 | 7.14 | 3.12 | 3.07 | 1.06 | 0.53 | 0.03 |
| Dividend per share (₹) | 0.00 | 0.20 | 0.20 | 0.15 | 0.15 | 0.10 | 0.00 |
| Book value per share (₹) | 50.46 | 41.70 | 38.89 | 29.73 | 26.90 | 25.87 | 25.33 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 559 | 752 | 704 | 428 | 511 | 647 | 545 | 446 |
| Revenue growth (YoY) | +9.6% | +16.2% | +29.1% | -3.9% | +63.9% | +29.4% | +49.3% | +75.3% |
| Other income | 14.28 | 22.42 | 5.66 | 12.39 | 16.38 | 11.18 | 9.05 | 11.78 |
| Total expenses | 486 | 658 | 596 | 398 | 430 | 544 | 467 | 382 |
| EBITDA | 73.09 | 94.48 | 108 | 29.97 | 80.32 | 104 | 77.91 | 63.86 |
| EBITDA margin | +13.1% | +12.6% | +15.4% | +7.0% | +15.7% | +16.0% | +14.3% | +14.3% |
| Depreciation | 5.06 | 5.26 | 5.67 | 6.00 | 6.25 | 6.27 | 5.91 | 5.82 |
| Interest | 14.28 | 12.62 | 12.36 | 10.75 | 9.19 | 13.33 | 13.31 | 10.27 |
| Profit before tax | 68.03 | 99.02 | 95.97 | 25.61 | 81.26 | 95.37 | 67.74 | 59.55 |
| Tax | 18.16 | 21.55 | 24.94 | 8.81 | 21.11 | 18.78 | 17.23 | 17.45 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 2,395 | 1,950 | 1,273 | 1,375 | 1,129 | 727 | 683 |
| Revenue growth | +25.0% | +44.4% | -9.1% | +19.4% | +60.2% | +4.2% | -17.9% |
| Other income | 56.85 | 36.02 | 8.69 | 11.86 | 12.46 | 9.82 | 16.95 |
| Total expenses | 2,082 | 1,666 | 1,153 | 1,269 | 1,063 | 663 | 637 |
| Employee cost | 85.09 | 52.29 | 44.60 | 38.07 | 29.87 | 26.02 | 29.78 |
| EBITDA | 313 | 284 | 120 | 106 | 66.09 | 63.50 | 46.14 |
| EBITDA margin | +13.1% | +14.6% | +9.4% | +7.7% | +5.9% | +8.7% | +6.8% |
| Depreciation | 23.20 | 24.28 | 22.73 | 22.57 | 15.31 | 17.67 | 17.93 |
| Interest | 44.92 | 48.38 | 49.76 | 46.63 | 42.27 | 44.92 | 44.46 |
| Profit before tax | 302 | 247 | 56.09 | 48.42 | 20.97 | 10.73 | 0.70 |
| Tax | 76.41 | 59.88 | 14.98 | 11.34 | 7.93 | 3.79 | 0.17 |
| Net profit | 218 | 165 | 40.63 | 37.24 | 13.06 | 7.02 | 0.53 |
| Net profit margin | +9.1% | +8.5% | +3.2% | +2.7% | +1.2% | +1.0% | +0.1% |
| EPS (₹) | 7.51 | 6.25 | 2.88 | 2.80 | 0.98 | 0.52 | 0.04 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 30.02 | 30.02 | 14.26 | 13.26 | 13.26 | 13.26 | 13.26 |
| Reserves & surplus | 1,410 | 1,180 | 525 | 369 | 334 | 321 | 314 |
| Shareholders' funds (net worth) | 1,440 | 1,210 | 539 | 382 | 347 | 335 | 328 |
| Secured loans | 174 | 155 | 155 | 236 | 232 | 188 | 212 |
| Unsecured loans | 250 | 105 | 95.52 | 86.21 | 84.68 | 66.67 | 89.34 |
| Total debt | 424 | 260 | 251 | 323 | 316 | 254 | 301 |
| Total liabilities | 1,887 | 1,482 | 803 | 716 | 673 | 597 | 637 |
| Assets | |||||||
| Gross block | 325 | 304 | 264 | 249 | 244 | 242 | 235 |
| Net block | 143 | 144 | 127 | 136 | 150 | 162 | 172 |
| Capital work in progress | 138 | 61.63 | 4.95 | 3.37 | 3.43 | 0.05 | 1.62 |
| Investments | 199 | 284 | 7.56 | 6.12 | 6.51 | 6.37 | 6.35 |
| Inventories | 563 | 401 | 247 | 246 | 243 | 196 | 196 |
| Sundry debtors | 853 | 443 | 598 | 630 | 502 | 405 | 405 |
| Cash & bank balances | 139 | 167 | 25.39 | 18.41 | 44.64 | 25.70 | 36.03 |
| Loans & advances | 69.62 | 94.12 | 75.60 | 72.19 | 95.35 | 64.62 | 58.92 |
| Total current assets | 1,624 | 1,105 | 945 | 967 | 885 | 692 | 695 |
| Total current liabilities | 615 | 567 | 328 | 432 | 394 | 293 | 262 |
| Net working capital | 1,009 | 538 | 617 | 535 | 492 | 399 | 433 |
| Total assets | 1,887 | 1,482 | 803 | 716 | 673 | 597 | 637 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 0.42 | 0.17 | 0.44 | 10.44 | 0.21 | 3.91 | 0.94 |
| Net cash from operating activities | (58.56) | (33.86) | 28.06 | 26.74 | (5.88) | 94.58 | 10.29 |
| Net cash from investing activities | (48.76) | (409) | (22.52) | 5.51 | (3.89) | (5.59) | (11.01) |
| Net cash from financing activities | 113 | 443 | (5.81) | (42.24) | 20.00 | (92.69) | 3.69 |
| Net change in cash | 5.36 | 0.23 | (0.27) | (10.00) | 10.23 | (3.70) | 2.97 |
| Closing cash | 139 | 167 | 25.39 | 18.41 | 44.64 | 25.70 | 36.03 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +22.8% | +53.2% | -7.4% | +21.8% | +55.3% | +6.4% | -18.0% |
| EBITDA growth | +10.2% | +137.0% | +13.4% | +60.0% | +4.1% | +37.6% | -19.5% |
| PBT growth | +22.0% | +341.2% | +15.8% | +130.9% | +95.4% | +1432.9% | -91.1% |
| Net income growth | +31.8% | +307.2% | +9.1% | +185.2% | +86.0% | +1224.5% | -89.5% |
| Revenue CAGR (3Y) | +20.3% | +20.0% | +20.6% | +26.3% | +10.7% | +2.0% | -5.2% |
| EBITDA CAGR (3Y) | +43.6% | +62.6% | +23.6% | +31.9% | +4.9% | +3.0% | -16.8% |
| Profitability & leverage | |||||||
| Net income margin | +9.4% | +9.6% | +3.2% | +2.7% | +1.2% | +1.0% | +0.1% |
| Return on capital employed | +20.6% | +25.9% | +13.9% | +13.7% | +10.0% | +9.0% | +7.4% |
| Return on net worth | +17.0% | +21.4% | +8.9% | +10.2% | +3.8% | +2.1% | +0.2% |
| Debt / equity | 0.26 | 0.29 | 0.62 | 0.88 | 0.84 | 0.84 | 0.85 |
| Long-term debt / equity | 0.05 | 0.07 | 0.13 | 0.16 | 0.18 | 0.16 | 0.10 |
| Interest cover | 15.49 | 18.62 | 51.21 | 56.05 | 83.24 | 98.01 | 157.60 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 7.62 | 6.87 | 4.97 | 5.57 | 4.65 | 3.05 | 2.97 |
| Inventory turnover | 4.97 | 6.02 | 5.17 | 5.62 | 5.14 | 3.71 | 3.67 |
| Debtors turnover | 3.70 | 3.75 | 2.07 | 2.43 | 2.49 | 1.80 | 1.76 |
| EPS (₹) | 7.51 | 6.25 | 2.88 | 2.80 | 0.98 | 0.52 | 0.04 |
| Dividend per share (₹) | 0.25 | 0.20 | 0.20 | 0.15 | 0.15 | 0.10 | 0.00 |
| Book value per share (₹) | 47.97 | 40.32 | 37.83 | 28.85 | 26.19 | 25.24 | 24.71 |
Shareholding Pattern of Transformers and Rectifiers (India) Limited
Shareholding for the quarter ended Sep 2026: promoters hold 64.40%, foreign institutional investors hold 7.80%, domestic institutional investors hold 1.50% and retail and other public shareholders hold 26.30%.
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 64.40% | 64.40% | 64.40% | 64.40% |
| Public | 35.60% | 35.60% | 35.60% | 35.60% |
Group Structure of Transformers and Rectifiers (India) Limited
Transformers and Rectifiers (India) has 5 subsidiary companies. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares Held |
|---|---|---|
| Savas Engineering Company Private Limited | U29197GJ1999PTC081203 | - |
| Transpares Limited | U31102GJ1995PLC024841 | - |
| Taril Switchgear Private Limited | U31503GJ2015PTC085076 | - |
| Taril Infrastructure Limited | U45208GJ2012PLC071693 | - |
| Transweld Mechanical Engineering Works Limited | U55101GJ1995PLC026055 | - |
Showing major subsidiaries. Total: 5.
Charges & Borrowings of Transformers and Rectifiers (India)
| Date | Lender | Amount | Status |
|---|---|---|---|
| 05 Sep 2024 | Others | ₹178 Cr | Open |
| 08 Nov 2023 | Hdfc Bank Limited | ₹27.95 Lakh | Open |
| 24 Jul 2023 | Others | ₹60 Lakh | Open |
| 19 Dec 2022 | Others | ₹1.32 Cr | Open |
| 07 Nov 2022 | Others | ₹72.9 Lakh | Open |
Total charge records: 46 View all charges
Employees and EPFO Compliance at Transformers and Rectifiers (India)
Transformers and Rectifiers (India) Limited has a workforce of 627 employees as of Oct 15, 2025.
Employee and EPFO history for Transformers and Rectifiers (India) Limited
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
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GST Compliance of Transformers and Rectifiers (India)
Transformers and Rectifiers (India) has 7 GST registrations: 1 active and 6 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AACCT8243P1ZV | Gujarat | Active | 01 Jul 2017 |
GST registrations and filing compliance for Transformers and Rectifiers (India) Limited
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
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Credit Ratings, Litigation & Regulatory Alerts for Transformers and Rectifiers (India)
Credit ratings, litigation, and regulatory alerts for Transformers and Rectifiers (India) Limited
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
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MSME Payment Delays by Transformers and Rectifiers (India)
MSME payment history for Transformers and Rectifiers (India) Limited
Amounts due to small suppliers, the reasons given and MSME-1 filings are in the company report.
- Outstanding amounts
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Subsidiaries & Group Companies of Transformers and Rectifiers (India)
Corporate group structure for Transformers and Rectifiers (India) Limited
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
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MCA Filings & Documents of Transformers and Rectifiers (India)
MCA filings and documents for Transformers and Rectifiers (India) Limited
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
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Recent Activity on Transformers and Rectifiers (India)
Recent News on Transformers and Rectifiers (India)
Frequently Asked Questions about Transformers and Rectifiers (India) Limited
Transformers and Rectifiers (India) is an active public limited company based in Ahmedabad, Gujarat, India. The company works in power equipment manufacturers, within the energy and power industry. It was incorporated on 11 July 1994 (32+ years old) and is registered under CIN L33121GJ1994PLC022460. Listed on BSE: 532928 and NSE: TRIL.
Transformers and Rectifiers (India) reported revenue of ₹2,508.8 Cr for FY 2025-26 (up 24.24% YoY) based on consolidated financials.
Transformers and Rectifiers (India) has 6 current directors:
- Satyen Jitendra Mamtora - Managing Director
- Jitendra Ujamsi Mamtora - Whole-Time Director
- Karunaben Jitendra Mamtora - Whole-Time Director
- Subir Kumar Das - Director
- Rajendra Shantilal Shah - Director
- Tanvi Vishal Rangwala - Director
The GSTIN of Transformers and Rectifiers (India) is 24AACCT8243P1ZV, registered in Gujarat. The company has 7 GST registrations in all, of which 1 is active and 6 are cancelled or inactive.
The CIN (Corporate Identification Number) of Transformers and Rectifiers (India) is L33121GJ1994PLC022460. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Transformers and Rectifiers (India) is listed on both BSE (code: 532928) and NSE (symbol: TRIL).
Transformers and Rectifiers (India) was incorporated on 11 July 1994, making it 32+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Transformers and Rectifiers (India) can be reached through the website transformerindia.com. Its registered office is in Ahmedabad, Gujarat, India.
The registered office of Transformers and Rectifiers (India) is at Survey No. 427 P3 – 4 & 431 P1 – 2 Sarkhej Bavla Highway Village:Moraiya, Tal:Sanand, Ahmedabad, Gujarat, India – 382213.