Transformers & Rectifiers India Ltd
Transformers & Rectifiers India Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Targeting a revenue of INR 8,000 crores (approx. The company targets approximately INR8,000 crores (around $1 billion) revenue by FY ’27-’29, implying a 45%-50% CAGR from FY ’27 onwards.
From Transformers & Rectifiers India Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Targeting a revenue of INR 8,000 crores (approx. $1 billion) by FY 2027-28 with a CAGR of 45%-50% from FY’27 onwards.
- Current year growth expected at 20%-25%, supported by increased capacity utilization and order inflows.
- New capacity addition of around 35,000 MVA, boosting total capacity from ~40,000 MVA to 75,000 MVA.
- Backward integration revenue also a significant growth contributor.
- Execution timeline for the INR 8,000 crores order book is planned within 18 to 24 months.
- Industry growth in India is estimated at 15% CAGR, outpacing the global transformer industry growth of 6.7%.
2 more points management made on revenue & sales performance
Profitability & Margins
See what Transformers & Rectifiers India Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Planned capex includes expansion of manufacturing capacity and backward integration facilities.
- Six backward integration facilities are underway: CTC plant (commissioning targeted FY '26-'27 Q1), Press Board facility (Q3 FY '26-'27), RIP bushing plant (Q4 FY '26-'27), and fabrication facility (same period).
- Organic capacity expansions: Changodar facility expansion (on track for Q1 FY '26-'27 completion) and Moraiya facility (expected operational in Q2 FY '26-'27).
- New capacity addition planned around 35,000 MVA, increasing total capacity from approx. 40,000 MVA to 75,000 MVA.
- These investments aim to enhance in-house value addition, reduce external dependencies, improve cost efficiency, and support higher volumes.
2 more points management made on capital expenditure plans
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Ranked on what management guided this quarter
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Fundraising & Capital Structure
See what Transformers & Rectifiers India Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Current unexecuted order book: INR 5,500 crores (Page 17)
- Targeted order book by end of FY '26: INR 8,000 crores (Pages 4, 6, 12, 17)
- Expected order inflow in Q4 FY '26: INR 3,000 - 3,500 crores (Pages 12, 17)
- Order inflow declined approximately 18.4% year-to-date compared to last year (Page 6)
- Company is pacing order inflows to maintain order book execution visibility within 18 to 24 months (Pages 6, 10)
2 more points management made on order book & pipeline
Transformers & Rectifiers India Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹783 Cr, net profit ₹91 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Transformers & Rectifiers India Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Transformers & Rectifiers India Ltd Q3 FY26 results?
Targeting a revenue of INR 8,000 crores (approx. The company targets approximately INR8,000 crores (around $1 billion) revenue by FY ’27-’29, implying a 45%-50% CAGR from FY ’27 onwards.
What is Transformers & Rectifiers India Ltd share price analysis?
Transformers & Rectifiers India Ltd currently shows a neutral. The stock trades at a P/E of 34.2 with a market cap of ₹8,846 Cr. Investors should review the full earnings analysis for detailed insights.
Is Transformers & Rectifiers India Ltd planning capital expenditure?
Planned capex includes expansion of manufacturing capacity and backward integration facilities. - Six backward integration facilities are underway: CTC plant (commissioning targeted FY '26-'27 Q1), Press Board facility (Q3 FY '26-'27), RIP bushing plant (Q4 FY '26-'27), and fabrication facility (same period). - Organic capacity expansions: Changodar facility expansion (on track for Q1 FY '26-'27 completion) and Moraiya facility (expected operational in Q2 FY '26-'27). - New capacity addition planned around 35,000 MVA, increasing total capacity from approx.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.