Transformers and Rectifiers (India) Limited (TARIL) reported higher consolidated revenue and profit for the second quarter of FY2026–27, supported by increased revenue from operations and strong order inflows.
The company’s board approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, on October 13, 2026.
Transformers & Rectifiers Q2 FY27: Key Financial Highlights
- Revenue from operations: ₹739.44 crore, up 60.7% year-on-year (YoY) from ₹460.03 crore and 29.2% quarter-on-quarter (QoQ) from ₹572.34 crore.
- Total income: ₹742.16 crore, compared with ₹473.95 crore in Q2 FY26 and ₹588.65 crore in Q1 FY27.
- Profit before tax (PBT): ₹109.93 crore, up 142.7% YoY from ₹45.30 crore and 24.9% QoQ from ₹88.03 crore.
- Consolidated profit for the period: ₹81.38 crore, compared with ₹37.35 crore in Q2 FY26 and ₹64.29 crore in Q1 FY27.
- Profit attributable to owners of the company: ₹79.80 crore, compared with ₹33.91 crore a year earlier.
- Earnings per share (EPS): ₹2.66, compared with ₹1.13 in Q2 FY26 and ₹2.05 in Q1 FY27.
Note: “Profit for the period” includes the share attributable to non-controlling interests. Profit attributable to owners is a separate figure in the consolidated financial statement.
Revenue and Profit Performance
TARIL’s consolidated revenue from operations increased to ₹739.44 crore in Q2 FY27 from ₹460.03 crore in the corresponding quarter last year. Compared with the June 2026 quarter, revenue rose from ₹572.34 crore.
Profit before tax also increased, reaching ₹109.93 crore against ₹45.30 crore in Q2 FY26 and ₹88.03 crore in Q1 FY27. Consolidated profit for the period stood at ₹81.38 crore, compared with ₹37.35 crore a year earlier.
These figures indicate a stronger year-on-year and sequential performance during the September quarter. The results cited here are unaudited and have been subject to a limited review by the company’s statutory auditors.
Order Inflows and Order Book
According to the company’s Q2 FY27 press release:
- Quarterly order inflows: ₹1,169 crore, up 97% YoY.
- Unexecuted order book: ₹7,237 crore as of September 30, 2026, up 32% YoY.
- Inquiry pipeline under negotiation: approximately ₹21,000 crore, as reported by the company.
The company stated that its unexecuted order book was expected to be executable over the following 18–24 months. The inquiry pipeline represents opportunities under negotiation and should not be treated as confirmed orders.
Manufacturing Expansion and Business Updates
TARIL reported that it had completed dynamic short-circuit testing on three transformer units during the quarter. The company said the testing was intended to validate the units’ ability to withstand electrical and mechanical stresses under fault conditions.
The company also stated that its manufacturing expansion at Changodar was nearing completion, with commercial production expected to begin around Diwali, according to its October 13 press release. This is a company-stated expectation, not confirmation that commercial production has already started.
What the Q2 Results Indicate
TARIL’s September-quarter results show growth in consolidated revenue, profit before tax and profit for the period compared with both the year-ago quarter and the preceding quarter. The company also reported higher order inflows and a larger unexecuted order book.
Investors reviewing the results should distinguish between confirmed financial figures, the company’s stated business updates and its forward-looking expectations. The inquiry pipeline is not equivalent to an order book, and the company’s future performance will depend on execution and other business conditions.
Source: Transformers and Rectifiers (India) Limited’s unaudited consolidated financial results and Q2 FY27 press release dated October 13, 2026, filed with the stock exchanges.
Disclaimer: This article is for informational and educational purposes only and does not constitute investment advice or a recommendation to buy or sell any security. Investments in the securities market are subject to market risks. Read all related documents carefully before investing.
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