Transformers and Rectifiers (India) Limited

BSE: 532928 NSE: TARIL
Transformers and Rectifiers (India) Limited - energy and power in Ahmedabad, Gujarat, India. FY 2026 financials & compliance.
CIN L33121GJ1994PLC022460 Incorporated 11 July 1994 ROC Ahmedabad HQ Ahmedabad, Gujarat, India
Active Listed - NSE: TARIL · BSE: 532928 Public Limited Company energy and power Nifty 500
Data last updated
Market Cap
₹9,257 Cr
TARIL · NSE
Share Price
₹301.55
-2.22% today
Revenue
₹2,509 Cr
FY 2025-26 · +24.2% YoY
EBITDA
₹383 Cr
Margin 15.3%
Net Profit
₹264 Cr
FY 2025-26 · +26.0% YoY
P/E (TTM)
29.4x
P/B 5.4x
ROE
19.7%
ROCE 23.3%
Debt / Equity
0.27
Interest cover 14.5x

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.

Transformers and Rectifiers (India) is part of the Nifty 500 and BSE 500 indices. Its director Jitendra Ujamsi Mamtora and family are #465 among India's richest people (2026). Its director Rajendra Shantilal Shah and family are #1,374 among India's richest people (2026).

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. It is a listed company as per MCA records. Its shares are listed on BSE: 532928 and NSE: TARIL.

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 21 September 2026, and its latest financial statements are for the year ended 31 March 2026. 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 24.2% compared to the previous year. For the same year it recorded a net profit of ₹264.49 Cr (net margin 10.5%) and EBITDA of ₹383.18 Cr (EBITDA margin 15.3%). 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 ₹1,557.11 Cr and satisfied charges of ₹401.63 Cr on record. Court records list 65 cases involving the company, including 45 filed by the company and 20 filed against it; 18 cases are pending. The company has 28 deals on record (26 market trades, 1 qip, 1 ipo); the latest was in June 2026. Its 9 peer companies in the Power industry (Power Equipment Manufacturers), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment) are compared by revenue, 5 larger and 4 smaller; the largest is Renewsys India Private Limited with revenue of ₹2,416.93 Cr. The company has 14 MSME Form 1 returns on record between 2019 and 2023, listing 2,954 overdue payments to 152 micro and small suppliers.

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.

Company details

CIN L33121GJ1994PLC022460
Registration Number 022460
Incorporation Date 11 July 1994
ROC Ahmedabad
Listing Status Listed - Listed on NSE (TARIL); Listed on BSE (532928)
Company Status Active
Date of Last AGM 21 September 2026
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant

CIN history

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.

CINStatus
L33121GJ1994PLC022460Current
U33121GJ1994PLC022460Previous
Key People
Satyen Jitendra Mamtora Managing Director Jitendra Ujamsi Mamtora Whole-Time Director Karunaben Jitendra Mamtora Whole-Time Director

Recognitions & Rankings of Transformers and Rectifiers (India)

India's Most Valuable Companies 2024 edition · Source: Hurun India
Rank#370
Valuation
₹14,890 Cr
Stock market indices
Nifty 500 BSE 500

Contact details

Transformers and Rectifiers (India) Limited's registered office is in Ahmedabad, Gujarat. Its website is transformerindia.com. Its e-mail address and telephone number are in the company report.

  • Email
  • Telephone
  • Website
    transformerindia.com
  • Registered Address
    Survey No. 427 P/3 – 4 & 431 P/1 – 2 Sarkhej Bavla Highway Village:Moraiya, Tal:Sanand, Ahmedabad, Gujarat, India – 382213
  • Industry
    Energy and Power, Power Equipment Manufacturers

To see the full contact details of Transformers and Rectifiers (India) Limited, buy the company report.

Comprehensive company report
Transformers and Rectifiers (India) Limited - one report that includes everything
  • 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
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included

Brands

Transformers and Rectifiers (India) operates one associated brand: Transformers & Rectifiers. Each brand links to its own profile.

BrandDescriptionWebsite
Transformers & Rectifiers
Manufacturer of transformers and rectifiertransformerindia.com

Business activity

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 codeMain activityBusiness activity codeBusiness activityShare of turnover
CManufacturingC10Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment

To see the full business activity and turnover split of Transformers and Rectifiers (India) Limited, buy the company report.

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 24.2% YoY) for FY 2025-26.

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹2,509 Cr
+24.2% YoY
EBITDA
₹383 Cr
+17.0% YoY
Profit After Tax
₹264 Cr
+26.0% YoY
Net Worth
₹1,515 Cr
+21.0% YoY
Total Assets
₹2,023 Cr
+27.6% YoY
Total Debt
₹457 Cr
+61.5% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue2,5092,0191,2951,3961,162742701
Revenue growth+24.2%+56.0%-7.3%+20.2%+56.6%+5.9%-
EBITDA38332713412174.0868.4651.35
EBITDA margin+15.3%+16.2%+10.4%+8.7%+6.4%+9.2%+7.3%
Profit before tax36328564.4057.0723.3112.511.86
Net profit26421044.2340.7213.967.160.40
Net profit margin+10.5%+10.4%+3.4%+2.9%+1.2%+1.0%+0.1%
EPS (₹)8.817.143.123.071.060.530.03
Balance sheet
Total assets2,0231,586832743697621660
Net worth1,5151,252554394357343336
Total debt457283256330325263308
Cash & bank14117227.2522.8846.3826.8337.04
Net working capital1,080561648548505413444
Cash flow
Cash from operations(105)15729.1628.391.8996.4316.36
Cash from investing(7.40)(621)(22.44)9.16(8.01)(6.96)(15.20)
Cash from financing116468(9.86)(44.88)17.21(93.08)1.57
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue739572783737460529676559
Revenue growth (YoY)+60.7%+8.1%+15.7%+31.7%-0.3%+64.4%--
Other income2.7216.3122.374.2613.9220.3110.188.96
EBITDA12993.3411812551.5288.1913184.81
EBITDA margin+17.4%+16.3%+15.1%+17.0%+11.2%+16.7%+19.4%+15.2%
Depreciation7.226.827.018.087.277.557.286.49
Interest14.3414.8014.3713.3712.8710.4714.9213.54
Profit before tax11088.0311910845.3090.4811973.74
Tax28.5523.7428.0831.827.9523.0225.0418.25
Net profit81.3864.2991.3975.9737.3567.4694.2055.49
EPS (₹)2.662.053.042.531.132.243.143.67
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue2,3951,9501,2731,3751,129727683
Revenue growth+22.8%+53.2%-7.4%+21.8%+55.3%+6.4%-
EBITDA31328412010666.0963.5046.14
EBITDA margin+13.1%+14.6%+9.4%+7.7%+5.9%+8.7%+6.8%
Profit before tax30224756.0948.4220.9710.730.70
Net profit21816540.6337.2413.067.020.53
Net profit margin+9.1%+8.5%+3.2%+2.7%+1.2%+1.0%+0.1%
EPS (₹)7.516.252.882.800.980.520.04
Balance sheet
Total assets1,8871,482803716673597637
Net worth1,4401,210539382347335328
Total debt424260251323316254301
Cash & bank13916725.3918.4144.6425.7036.03
Net working capital1,009538617535492399433
Cash flow
Cash from operations(58.56)(33.86)28.0626.74(5.88)94.5810.29
Cash from investing(48.76)(409)(22.52)5.51(3.89)(5.59)(11.01)
Cash from financing113443(5.81)(42.24)20.00(92.69)3.69
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue709559752704428511647545
Revenue growth (YoY)+65.5%+9.6%+16.2%+29.1%-3.9%+63.9%--
Other income2.8014.2822.425.6612.3916.3811.189.05
Total expenses595486658596398430544467
EBITDA11473.0994.4810829.9780.3210477.91
EBITDA margin+16.1%+13.1%+12.6%+15.4%+7.0%+15.7%+16.0%+14.3%
Depreciation5.065.065.265.676.006.256.275.91
Interest12.9614.2812.6212.3610.759.1913.3313.31
Profit before tax98.6868.0399.0295.9725.6181.2695.3767.74
Tax23.6718.1621.5524.948.8121.1118.7817.23

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 03 Nov 2026
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue739572783737460529676559
Revenue growth (YoY)+60.7%+8.1%+15.7%+31.7%-0.3%+64.4%--
Other income2.7216.3122.374.2613.9220.3110.188.96
EBITDA12993.3411812551.5288.1913184.81
EBITDA margin+17.4%+16.3%+15.1%+17.0%+11.2%+16.7%+19.4%+15.2%
Depreciation7.226.827.018.087.277.557.286.49
Interest14.3414.8014.3713.3712.8710.4714.9213.54
Profit before tax11088.0311910845.3090.4811973.74
Tax28.5523.7428.0831.827.9523.0225.0418.25
Net profit81.3864.2991.3975.9737.3567.4694.2055.49
EPS (₹)2.662.053.042.531.132.243.143.67
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue2,5092,0191,2951,3961,162742701
Revenue growth+24.2%+56.0%-7.3%+20.2%+56.6%+5.9%-
Other income60.8534.945.828.699.819.6015.87
Total expenses2,1261,6921,1611,2751,088674650
Employee cost10660.0747.7041.1832.4428.4432.36
EBITDA38332713412174.0868.4651.35
EBITDA margin+15.3%+16.2%+10.4%+8.7%+6.4%+9.2%+7.3%
Depreciation29.9126.9624.7324.5316.9919.3419.59
Interest51.0850.6050.8047.9743.5946.2145.77
Profit before tax36328564.4057.0723.3112.511.86
Tax90.8768.4117.3914.729.024.880.81
Net profit26421044.2340.7213.967.160.40
Net profit margin+10.5%+10.4%+3.4%+2.9%+1.2%+1.0%+0.1%
EPS (₹)8.817.143.123.071.060.530.03
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital30.0230.0214.2613.2613.2613.2613.26
Reserves & surplus1,4851,222540381343330323
Shareholders' funds (net worth)1,5151,252554394357343336
Minority interest28.1620.438.516.736.747.177.34
Secured loans193176160254240213219
Unsecured loans26310796.3776.5384.8650.1889.48
Total debt457283256330325263308
Total liabilities2,0231,586832743697621660
Assets
Gross block454426292277272268262
Net block250251144153168181193
Capital work in progress13861.765.183.373.430.051.62
Investments1842684.180.850.510.430.27
Inventories617446276273263219214
Sundry debtors887469614635522416418
Cash & bank balances14117227.2522.8846.3826.8337.04
Loans & advances78.7075.0968.6859.6578.9450.2044.84
Total current assets1,7241,162986991910711714
Total current liabilities644601338443405299271
Net working capital1,080561648548505413444
Total assets2,0231,586832743697621660
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash5.271.614.7512.080.984.601.87
Net cash from operating activities(105)15729.1628.391.8996.4316.36
Net cash from investing activities(7.40)(621)(22.44)9.16(8.01)(6.96)(15.20)
Net cash from financing activities116468(9.86)(44.88)17.21(93.08)1.57
Net change in cash2.833.66(3.14)(7.33)11.09(3.62)2.73
Closing cash14117227.2522.8846.3826.8337.04
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+24.2%+56.0%-7.3%+20.2%+56.6%+5.9%-
EBITDA growth+17.0%+144.2%+10.9%+63.2%+8.2%+33.3%-
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%-
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 / equity0.270.300.620.870.840.840.85
Long-term debt / equity0.050.070.120.160.180.160.10
Interest cover14.4616.8446.4449.7976.3594.08144.11
Efficiency & per share
Fixed asset turnover5.705.624.545.084.302.802.74
Inventory turnover4.725.594.715.214.823.433.42
Debtors turnover3.703.732.072.412.481.781.76
EPS (₹)8.817.143.123.071.060.530.03
Dividend per share (₹)0.000.200.200.150.150.100.00
Book value per share (₹)50.4641.7038.8929.7326.9025.8725.33
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue709559752704428511647545
Revenue growth (YoY)+65.5%+9.6%+16.2%+29.1%-3.9%+63.9%--
Other income2.8014.2822.425.6612.3916.3811.189.05
Total expenses595486658596398430544467
EBITDA11473.0994.4810829.9780.3210477.91
EBITDA margin+16.1%+13.1%+12.6%+15.4%+7.0%+15.7%+16.0%+14.3%
Depreciation5.065.065.265.676.006.256.275.91
Interest12.9614.2812.6212.3610.759.1913.3313.31
Profit before tax98.6868.0399.0295.9725.6181.2695.3767.74
Tax23.6718.1621.5524.948.8121.1118.7817.23
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue2,3951,9501,2731,3751,129727683
Revenue growth+22.8%+53.2%-7.4%+21.8%+55.3%+6.4%-
Other income56.8536.028.6911.8612.469.8216.95
Total expenses2,0821,6661,1531,2691,063663637
Employee cost85.0952.2944.6038.0729.8726.0229.78
EBITDA31328412010666.0963.5046.14
EBITDA margin+13.1%+14.6%+9.4%+7.7%+5.9%+8.7%+6.8%
Depreciation23.2024.2822.7322.5715.3117.6717.93
Interest44.9248.3849.7646.6342.2744.9244.46
Profit before tax30224756.0948.4220.9710.730.70
Tax76.4159.8814.9811.347.933.790.17
Net profit21816540.6337.2413.067.020.53
Net profit margin+9.1%+8.5%+3.2%+2.7%+1.2%+1.0%+0.1%
EPS (₹)7.516.252.882.800.980.520.04
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital30.0230.0214.2613.2613.2613.2613.26
Reserves & surplus1,4101,180525369334321314
Shareholders' funds (net worth)1,4401,210539382347335328
Secured loans174155155236232188212
Unsecured loans25010595.5286.2184.6866.6789.34
Total debt424260251323316254301
Total liabilities1,8871,482803716673597637
Assets
Gross block325304264249244242235
Net block143144127136150162172
Capital work in progress13861.634.953.373.430.051.62
Investments1992847.566.126.516.376.35
Inventories563401247246243196196
Sundry debtors853443598630502405405
Cash & bank balances13916725.3918.4144.6425.7036.03
Loans & advances69.6294.1275.6072.1995.3564.6258.92
Total current assets1,6241,105945967885692695
Total current liabilities615567328432394293262
Net working capital1,009538617535492399433
Total assets1,8871,482803716673597637
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash0.420.170.4410.440.213.910.94
Net cash from operating activities(58.56)(33.86)28.0626.74(5.88)94.5810.29
Net cash from investing activities(48.76)(409)(22.52)5.51(3.89)(5.59)(11.01)
Net cash from financing activities113443(5.81)(42.24)20.00(92.69)3.69
Net change in cash5.360.23(0.27)(10.00)10.23(3.70)2.97
Closing cash13916725.3918.4144.6425.7036.03
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+22.8%+53.2%-7.4%+21.8%+55.3%+6.4%-
EBITDA growth+10.2%+137.0%+13.4%+60.0%+4.1%+37.6%-
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%-
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 / equity0.260.290.620.880.840.840.85
Long-term debt / equity0.050.070.130.160.180.160.10
Interest cover15.4918.6251.2156.0583.2498.01157.60
Efficiency & per share
Fixed asset turnover7.626.874.975.574.653.052.97
Inventory turnover4.976.025.175.625.143.713.67
Debtors turnover3.703.752.072.432.491.801.76
EPS (₹)7.516.252.882.800.980.520.04
Dividend per share (₹)0.250.200.200.150.150.100.00
Book value per share (₹)47.9740.3237.8328.8526.1925.2424.71

To see the full year-wise statements and ratios of Transformers and Rectifiers (India) Limited, buy the company report.

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.

Current Directors
NameDesignationAppointment DateTenureStatus
Satyen Jitendra Mamtora
Also directs: Taril Switchgear Private Limited, Transweld Mechanical Engineering Works Limited, Indian Electrical and Electronics Manufacfturers Association
Managing Director01 Apr 201016 Years 7 MonthsCurrent
Jitendra Ujamsi MamtoraWhole-Time Director11 Jul 199432 Years 3 MonthsCurrent
Karunaben Jitendra Mamtora
Also directs: Transpares Limited, Taril Infrastructure Limited
Whole-Time Director11 Jul 199432 Years 3 MonthsCurrent
Subir Kumar Das
Also directs: M & B Engineering Limited, Troikaa Pharmaceuticals Limited, Cadila Pharmaceuticals Limited and 2 more
Director14 Nov 20187 Years 11 MonthsCurrent
Rajendra Shantilal Shah
Also directs: Harsha Engineers International Limited, Ratnamani Metals and Tubes Limited, Harsha Engineers Advantek Limited and 1 more
Director25 May 20215 Years 5 MonthsCurrent
Tanvi Vishal Rangwala
Also directs: Advantterra Capital Management LLP, Astral Limited, Hues Hub Online Private Limited
Director22 Jan 20242 Years 9 MonthsCurrent
View all directors

Peer comparison

Transformers and Rectifiers (India) Limited is compared with the 9 companies closest to it by revenue in the Power industry (Power Equipment Manufacturers), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment), from the latest filed financials of each company.

CompanyRevenueNet profitMarginGrowth (1 yr)EmployeesLocation
Transformers and Rectifiers (India) Limitedthis company₹2,508.8 Cr (FY 2026)₹264.49 Cr10.5%24.2%627Ahmedabad, Gujarat, India
Renewsys India Private Limited₹2,416.93 Cr (FY 2025)15.0%Mumbai, Maharashtra, India
Emmvee Photovoltaic Power Limited₹2,360.33 Cr (FY 2025)147.0%Bangalore, Karnataka, India
Saatvik Green Energy Limited₹2,192.47 Cr (FY 2025)100.0%Ambala, Haryana, India
Perkins India Private Limited₹2,177.5 Cr (FY 2025)11.0%Chennai, Tamil Nadu, India
Hyosung T & D India Private Limited₹2,059.47 Cr (FY 2025)109.0%Pune, Maharashtra, India
Cummins Generator Technologies India Private Limited₹2,049.19 Cr (FY 2025)11.0%Pune, Maharashtra, India
Voltamp Transformers Limited₹2,018.93 Cr (FY 2025)18.0%Vadodara, Gujarat, India
Bharat Bijlee Limited₹1,945.15 Cr (FY 2025)Mumbai, Maharashtra, India
Olectra Greentech Limited₹1,814.21 Cr (FY 2025)56.0%Hyderabad, Telangana, India

To see the full peer comparison of Transformers and Rectifiers (India) Limited, buy the company report.

Auditor

Transformers and Rectifiers (India) Limited is audited by Manubhai & Shah LLP for the financial year 2025.

Auditor firmFinancial yearFirm registration number
Manubhai & Shah LLPFY 2025106041W

Shareholding

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%.

Promoters: 64.40%DII (Domestic Institutional): 1.50%FII (Foreign Institutional): 7.80%Retail & Others: 26.30%
Sep 2026
QUARTER
64.40% Promoters
1.50% DII (Domestic Institutional)
7.80% FII (Foreign Institutional)
26.30% Retail & Others
Promoter holding - history
Now 64.40% · Sep 2026High 64.40% · Dec 2025Low 64.40% · Dec 2025
63%63.8%64.5%65.3%66%Dec 2025Mar 2026Jun 2026Sep 2026Dec 2025: 64.40%Mar 2026: 64.40%Jun 2026: 64.40%Sep 2026: 64.40%64.40%64.40%
Shareholding trend - last 6 quarters
Sep 2026Jun 2026Mar 2026Dec 2025
Promoters64.40%64.40%64.40%64.40%
Public35.60%35.60%35.60%35.60%

Charges & borrowings

Open charges
₹1,557.11 Cr
Satisfied charges
₹401.63 Cr
Breakdown by lending institutions
Others₹1,546.47 Cr
State Bank of India₹10.36 Cr
Hdfc Bank Limited₹0.28 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
19 Aug 2026101372243Others₹100 CrOpen
05 Sep 2024100970760Others₹178 CrOpen
08 Nov 2023100812010Hdfc Bank Limited₹27.95 LakhOpen
24 Jul 2023100754454Others₹60 LakhOpen
19 Dec 2022100659494Others₹1.32 CrOpen

To see the full charge records of Transformers and Rectifiers (India) Limited, buy the company report.

Total charge records: 47 View all charges

Deals & funding

Transformers and Rectifiers (India) Limited has 28 deals on record (26 market trades, 1 qip, 1 ipo); the latest was in June 2026.

Total deals
28
Market trades
26
QIP
1
IPO
1

Deals on record (5 of 28)

WhenDealAmountParties
Jun 2026Market trade₹141.1 CrBuyer: Microcurves Trading Private Limited , Qe Securities LLP
Seller: Microcurves Trading Private Limited , Qe Securities LLP
Feb 2026Market trade₹44.86 CrBuyer: Hrti Private Limited
Seller: Hrti Private Limited
Jan 2026Market trade₹46.68 CrBuyer: Graviton Research Capital LLP
Seller: Graviton Research Capital LLP
Jan 2026Market trade₹122.33 CrBuyer: Junomoneta Finsol Private Limited , Graviton Research Capital LLP
Seller: Junomoneta Finsol Private Limited , Graviton Research Capital LLP
Jan 2026Market trade₹46.41 CrBuyer: Graviton Research Capital LLP
Seller: Graviton Research Capital LLP

To see the full deal history of Transformers and Rectifiers (India) Limited, buy the company report.

Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.

MSME payment delays

Transformers and Rectifiers (India) Limited has 14 MSME Form 1 returns on record between 2019 and 2023, listing 2,954 overdue payments to 152 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.

Suppliers with reported dues (5 of 152)

SupplierAmount dueDue sinceReported on
Chandresh Coopper Private Limited
Eapen Joseph & Co.
an individual supplier
Utsav Elctro-Mech Private Limited
an individual supplier

To see the full MSME payment records of Transformers and Rectifiers (India) Limited, buy the company report.

Individuals and sole proprietors among the suppliers are not named.

Group structure & subsidiaries

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.

5
Subsidiary companies
Key subsidiaries
Company NameCINShares held
Savas Engineering Company Private LimitedU29197GJ1999PTC081203
Transpares LimitedU31102GJ1995PLC024841
Taril Switchgear Private LimitedU31503GJ2015PTC085076
Taril Infrastructure LimitedU45208GJ2012PLC071693
Transweld Mechanical Engineering Works LimitedU55101GJ1995PLC026055

To see the full group structure of Transformers and Rectifiers (India) Limited, buy the company report.

Employees & EPFO

Transformers and Rectifiers (India) Limited has a workforce of 627 employees on its EPFO records as of Oct 15, 2025, across 2 active EPFO establishments.

Employee count
627
Active EPFO establishments
2
Employee growth
10.78%

GST

Transformers and Rectifiers (India) has 7 GST registrations: 1 active and 6 cancelled or inactive.

Total GSTINs
7
Active
1
Cancelled / inactive
6
GSTINStateStatusRegistered on
24AACCT8243P1ZVGujaratActive01 Jul 2017

To see the full GST registrations and return filing status of Transformers and Rectifiers (India) Limited, buy the company report.

Recent activity

Transformers and Rectifiers (India) Limited has 29 board changes on record since 1994: 19 appointments and 10 cessations. The latest: Mukul Premprasad Srivastava was appointed as CEO on 08 Jul 2025.

AGM
Transformers And Rectifiers (India) Limited last Annual general meeting of members was held on 21 Sep 2026 as per latest MCA records.
Charges
A charge with Others amounted to Rs. 100.00 Cr with Charge ID 101372243 was registered on 19 Aug 2026.
Filing
Transformers And Rectifiers (India) Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Ahmedabad.
Charges
A charge with Others of Rs. 1,265.00 Cr registered on 15 Sep 2004 with Charge ID 90096923 was modified on 06 Mar 2026.
Charges
A charge registered on 25 Oct 2023 via Charge ID 100813465 with Others was fully satisfied on 16 Dec 2025.
Appointed
Mukul Premprasad Srivastava was appointed as CEO.
Charges
A charge registered on 21 Sep 2022 via Charge ID 100616843 with Others was fully satisfied on 19 Nov 2024.
Charges
A charge with Others amounted to Rs. 178.00 Cr with Charge ID 100970760 was registered on 05 Sep 2024.
Ceased
Bhaskar Sen ceased to be Director.
Charges
A charge with Others of Rs. 110.00 Cr registered on 21 Sep 2022 with Charge ID 100616843 was modified on 06 Feb 2024.
Appointed
Tanvi Vishal Rangwala was appointed as Director.
Appointed
Chanchal Singh Satyandra Rajora was appointed as CFO.

114 earlier events are in the company report.

News

Taril: Company Plans ₹1,250 Crore Investment For Three New Manufacturing Plants To Boost India's Power Infrastructure And Generate Over 1,000 Jobs.
27 Oct 2026 · Exchange Update
Transformers & Rectifiers: Company Confident About Meeting FY27 Goals, Still Expects 25% Revenue Growth And 9% To 10% PAT Margin.
14 Oct 2026 · Exchange Update
Transformers & Rectifiers: Targets $1 Billion Revenue By Late FY29 Or Early 2030 Without Extra Capital Expenditure. New Backward Integration Units Expected To Boost Margins By 200 To 300 Basis Points By FY29.
14 Oct 2026 · Exchange Update
Transformers & Rectifiers: Uncompleted Orders Reach INR 7,237 Crores As Of September 30, 2026, Marking A 32% Increase Year-Over-Year, Ensuring Strong Medium-Term Revenue Outlook. The Company Is Currently Negotiating INR 21,000 Crores In Inquiries, With 80% From Domestic Sources And 20% From Exports, Featuring A Balanced Mix Of Government And Private Clients.
14 Oct 2026 · Exchange Update
TARIL: Q2 REVENUE 7.39B RUPEES VS 4.6B (YOY); EST 6.06B
13 Oct 2026 · Exchange Update

Frequently asked questions

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: TARIL.

Transformers and Rectifiers (India) reported revenue of ₹2,508.8 Cr for FY 2025-26 (up 24.2% YoY) based on consolidated financials.

Transformers and Rectifiers (India) has 6 current directors:

The latest financial statements of Transformers and Rectifiers (India) on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 21 September 2026. Year-wise statements from 2015 are in the company report.

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 a listed company as per MCA records. Its shares are listed on both BSE (code: 532928) and NSE (symbol: TARIL).

Transformers and Rectifiers (India) has 65 court cases on record: 45 filed by the company and 20 filed against it. 18 are pending. Most are in the district courts.

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) has 28 deals on record (26 market trades, 1 qip, 1 ipo); the latest was in June 2026.

The peers of Transformers and Rectifiers (India) by revenue are Renewsys India Private Limited, Emmvee Photovoltaic Power Limited, Saatvik Green Energy Limited, Perkins India Private Limited, Hyosung T & D India Private Limited and 4 more, all in the Power industry (Power Equipment Manufacturers), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment).

Mukul Premprasad Srivastava was appointed as CEO on 08 Jul 2025. Bhaskar Sen ceased to be Director on 31 Mar 2024. Tanvi Vishal Rangwala was appointed as Director on 22 Jan 2024. Transformers and Rectifiers (India) has 29 board changes on record in total.