Shares of Transformers & Rectifiers (India) Ltd increased by nearly 2% during morning trade on February 19 after the company reported the receipt of new orders worth ₹166.45 crore.
At 9:22 AM, the shares were priced at ₹374.40, up by ₹6.85 (1.86%) on the BSE.
The company has achieved the order from Hyosung T&D India for the sale of Single Phase transformers and Single Phase coupling transformers for TBCB projects. Deliveries will commence during the next fiscal year.
Additionally, on February 17, the company’s subsidiary TARIL Switchgear introduced 245 kV High Voltage Bushings, further expanding its product portfolio.
Strong Financial Performance
Transformers & Rectifiers posted impressive financial results in the December quarter (Q3 FY24):
- Net profit surged 250% to ₹55.48 crore, compared to the same period last year.
- Revenue from operations increased 51% year-over-year to ₹559.4 crore.
Bonus Issue and Fundraising Plans
The company has also announced a 1:1 bonus issue of shares, meaning shareholders will receive one bonus share for every one share held.
Additionally, the company plans to raise up to ₹750 crore through a Qualified Institutional Placement (QIP) to fuel future expansion and business growth.
With strong order wins, product launches, and financial growth, Transformers & Rectifiers continues to strengthen its position in the power equipment sector.
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Source: Moneycontrol.
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