Transformers And Rectifiers (India) Limited

Capital Goods · Electrical Equipment

NSE: TARIL BSE: 532928

₹270.10

Sept. 30, 2026 · NSE · nse_bhavcopy

Peers in Electrical Equipment

The largest companies in the same industry by market cap. This company ranks #28 of 95. PE, ROE, 1Y return and scores come from the daily/weekly precomputed snapshot.

Company	Market cap (₹ Cr)	PE (TTM)	ROE	1Y return	Div. yield	Quality	Valuation	Momentum
Bharat Heavy Electricals Limited	144,680	59.9	6.1%	73.0%	—	54	36	32
ABB India Limited	143,589	92.3	13.6%	30.3%	1.76%	73	0	28
Hitachi Energy India Limited	136,525	118.7	19.1%	68.9%	0.03%	81	33	31
CG Power and Industrial Solutions Limited	134,535	96.5	14.5%	15.5%	0.15%	81	0	30
Siemens Limited	132,676	107.1	11.2%	19.4%	0.48%	72	0	29
Siemens Energy India Limited	113,959	76.6	—	-5.9%	0.13%	94	0	66
GE Vernova T&D India Limited	107,565	82.4	45.8%	36.7%	0.24%	94	31	31
Apar Industries Limited	72,791	59.7	18.1%	111.6%	0.35%	62	25	50
Transformers And Rectifiers (India) Limited (this stock)	8,107	37.7	17.6%	-44.9%	0.09%	70	7	12

Valuation multiples

Current only. Market cap is the whole company's; sales/EBITDA are trailing-twelve-month standalone; debt and cash come from the latest filed standalone balance sheet (March 31, 2026). EBITDA = PBT + interest + depreciation.

Enterprise value

₹8,526 Cr

EV / EBITDA

23.6x

EV / Sales

3.49x

Market cap / Sales

3.32x

Earnings yield

2.65%

Quarterly Financials

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Standalone Consolidated

↑ Positive

Quarterly Revenue

Jun 2026 quarterly revenue is Rs 574 Cr, up 8.9% YoY.

↓ Negative

Quarterly Net Profit

Jun 2026 quarterly net profit is Rs 50 Cr, down 17.1% YoY.

Period end	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)	Basic EPS
June 30, 2026	559	68	50	₹1.6600
March 31, 2026	752	99	77	₹2.5800
Dec. 31, 2025	704	96	71	₹2.3700
Sept. 30, 2025	428	26	17	₹0.5600
June 30, 2025	511	81	60	₹2.0000
March 31, 2025	647	95	77	₹2.5800
Dec. 31, 2024	545	68	51	₹3.3900
Sept. 30, 2024	446	60	42	₹2.8300
June 30, 2024	312	25	18	₹1.2800
March 31, 2024	500	48	36	₹2.5000
Dec. 31, 2023	365	18	13	₹0.9500
Sept. 30, 2023	254	4	3	₹0.2300
June 30, 2023	153	-14	-11	₹-0.8300

Quarterly income statement (standalone, ₹ Cr)

Indicator	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23
Total income (before exceptional items)	574	775	710	441	527	655	554	458	316	503	368	256	155
Operating revenue	559	752	704	428	511	647	545	446	312	500	365	254	153
Other income	14	22	6	12	16	8	9	12	4	2	2	2	2
Operating expenses	486	658	596	398	430	544	467	382	273	438	331	235	150
Operating profit	73	94	108	30	80	104	78	64	39	63	34	19	4
Operating profit margin	13.1%	12.6%	15.4%	7.0%	15.7%	16.0%	14.3%	14.3%	12.4%	12.5%	9.4%	7.5%	2.5%
Depreciation	5	5	6	6	6	6	6	6	6	6	6	6	6
Interest	14	13	12	11	9	13	13	10	11	11	13	11	14
Exceptional items, gain / (loss)	—	—	—	—	—	3	—	—	—	—	—	—	—
Profit before tax	68	99	96	26	81	95	68	60	25	48	18	4	-14
Tax	18	22	25	9	21	19	17	17	6	13	5	1	-3
Net profit	50	77	71	17	60	77	51	42	18	36	13	3	-11
EPS	1.66	2.58	2.37	0.56	2.00	2.58	3.39	2.83	1.28	2.50	0.95	0.23	-0.83
Net profit (TTM)	215	225	225	204	229	188	147	110	70	41	14	13	20
EPS (TTM)	7.17	7.51	7.51	8.53	10.80	10.08	10.00	7.56	4.96	2.85	1.02	0.96	1.52

Total income excludes exceptional items, which are shown on their own row. Trendlyne and Screener fold exceptional items into revenue or other income, so their totals differ from this table by exactly that row.

Annual Financials

Year ended	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)
March 31, 2026	2,395	302	225
March 31, 2025	1,950	247	188
March 31, 2024	1,273	56	41
March 31, 2023	1,360	48	37

Annual income statement (standalone, ₹ Cr; CAGR to the latest year)

Indicator	CAGR 3Y	CAGR 5Y	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 18	Mar 17
Total income (before exceptional items)	21.4%	27.2%	2,452^†	1,983^†	1,282^†	1,372^†	1,141^†	737^†	691^†	700^†	809^†
Operating revenue	20.8%	26.9%	2,395	1,950	1,273	1,360	1,123^†	727^†	683^†	693^†	802^†
Other income	—	—	57^†	33^†	9^†	12^†	19^†	10^†	8^†	7^†	7^†
Operating expenses	—	—	2,082^†	1,666^†	1,153^†	1,227^†	1,063^†	663^†	628^†	641^†	—
Operating profit	33.0%	37.6%	313^†	284^†	120^†	133^†	60^†	64^†	55^†	52^†	—
Operating profit margin	—	—	13.1%^†	14.6%^†	9.4%^†	9.8%^†	5.3%^†	8.7%^†	8.0%^†	7.6%^†	—
Depreciation	—	—	23^†	24^†	23^†	23^†	15^†	18^†	18^†	15^†	—
Interest	—	—	45^†	48^†	50^†	47^†	42^†	45^†	44^†	38^†	36^†
Exceptional items, gain / (loss)	—	—	0^†	3^†	0^†	0^†	0^†	0^†	0^†	0^†	-13^†
Profit before tax	84.0%	94.9%	302	247	56	48	21^†	11^†	1^†	7^†	21^†
Tax	—	—	76^†	60^†	15^†	11^†	8^†	4^†	0^†	2^†	8^†
Net profit	82.5%	100.5%	225	188	41	37	13^†	7^†	1^†	4^†	13^†
EPS	39.1%	69.9%	7.51^†	10.08^†	2.85^†	2.79^†	0.98^†	0.53^†	0.05^†	—	—

^† Derived: the sum of that fiscal year's four quarterly filings (a real annual filing is used wherever one exists). Checked against filed annual figures, the sum lands within 0.5% for about 94% of company-years.

Annual ratios (standalone)

Ratio	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 18	Mar 17
Operating margin	13.1%^†	14.6%^†	9.4%^†	9.8%^†	5.3%^†	8.7%^†	8.0%^†	7.6%^†	—
EBIT margin	14.5%^†	15.2%^†	8.3%^†	7.0%^†	5.6%^†	7.7%^†	6.6%^†	6.5%^†	7.1%^†
PBT margin	12.6%	12.7%	4.4%	3.6%	1.9%^†	1.5%^†	0.1%^†	1.0%^†	2.6%^†
Net margin	9.4%	9.6%	3.2%	2.7%	1.2%^†	1.0%^†	0.1%^†	0.6%^†	1.6%^†
Interest coverage	7.72x^†	6.11x^†	2.13x^†	2.04x^†	1.50x^†	1.24x^†	1.02x^†	1.18x^†	1.57x^†
Dividend payout	2.7%^†	2.0%^†	5.3%^†	5.4%^†	10.2%^†	0.0%^†	0.0%^†	—	—
Earnings retention	97.3%^†	98.0%^†	94.7%^†	94.6%^†	89.8%^†	100.0%^†	100.0%^†	—	—
Current ratio	1.80x	2.24x	—	—	—	—	—	—	—
Quick ratio	1.23x	1.71x	—	—	—	—	—	—	—
Debt to equity	0.29x	0.21x	—	—	—	—	—	—	—
Return on equity	15.7%	15.5%	—	—	—	—	—	—	—
Return on assets	9.0%	9.2%	—	—	—	—	—	—	—
Return on capital employed	22.9%^†	22.8%^†	—	—	—	—	—	—	—
Asset turnover	0.96x	0.95x	—	—	—	—	—	—	—

Margins and asset turnover use operating revenue (interest earned for banks, excluding other income), not total income. Liquidity, leverage and return ratios need a filed standalone balance sheet, which exists only for recent years; returns use year-end equity/assets. Dividend payout is shown only for companies with a dividend record. † = built from a summed fiscal year.

Revenue Mix

Data unavailable.

Cash Flow

Year ended	Operating (₹ Cr)	Investing (₹ Cr)	Financing (₹ Cr)	Capex (₹ Cr)	Free Cash Flow (₹ Cr)
March 31, 2026	-59	-49	113	99	-157
March 31, 2025	99	-543	444	141	-42
March 31, 2024	28	-23	-6	0	28
March 31, 2023	27	6	-42	11	16
March 31, 2022	-6	-4	20	7	-13

Balance Sheet (standalone)

Year ended	Total Assets (₹ Cr)	Total Equity (₹ Cr)	Reserves (₹ Cr)	Borrowings, Current (₹ Cr)	Borrowings, Non-current (₹ Cr)	Current Assets (₹ Cr)	Current Liabilities (₹ Cr)	Cash & Equivalents (₹ Cr)	Net Block (₹ Cr)	Inventory (₹ Cr)
March 31, 2026	2,500	1,440	1,410	371	53	1,774	984	6	126	561
March 31, 2025	2,047	1,210	1,180	182	78	1,677	747	0	128	399
March 31, 2024	—	—	—	—	—	—	—	—	—	—
March 31, 2023	—	—	—	—	—	—	—	—	—	—
March 31, 2022	—	—	—	—	—	—	—	—	—	—

Financial charts

Trend charts drawn from the standalone income-statement and ratio tables above (oldest year on the left); a gap means that period has no figure. Annual years marked † in the tables are derived from four quarters.