Transformers And Rectifiers (India) Limited has informed the Exchange about Investor Presentation
Date: 09th November, 2025 Ref: TARIL/SECT/2025-26/NSE-BSE/COMPL/047
To, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 Security Code : 532928
Dear Sir/Madam,
To, National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra - Kurla Complex, Bandra (E), Mumbai - 400 051 Trading Symbol : TARIL
Sub: Investor Presentation Q2-2025-26 - Revised
Pursuant to Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby submit the revised presentation on the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and half year ended 30th September, 2025. The revision has been made to correct certain inadvertent typographical errors in the earlier version of the presentation.
The said presentation is also being uploaded on the website of the Company (www.transformerindia.com).
Please take the same on your record.
Thanking you,
Yours faithfully, For Transformers and Rectifiers (India) Limited
Rakesh Kiri Company Secretary
Encl.: As above
TARIL is one of the leading manufacturers of a wide range of transformers globally. Today TARIL is second largest Transformer manufacturing company based on Capacity in India. It has capability to develop world class power, distribution, furnace and specialty transformers with world class infrastructure at three plants around the city of Ahmedabad (Gujarat, India). TARIL is managed by a highly skilled and experienced team of approximately 1200 employees, who consistently ensure that each and every activity factors in an adherence to high quality benchmarks established by the organisation.
Transformers & Rectifiers (India) Limited
Investor Presentation – 8th November 2025
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Investor Presentation Q4 FY25 8th April, 2025
Corporate Snapshot
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Brief Overview
Company Overview
Headquartered in Ahmedabad, TARIL is a prominent player in the
manufacturing of transformers & reactors in India Its diverse product range includes :
o Single phase power transformers up to 500MVA & 1200kV Class, o Furnace Transformers, o Rectifier & Distribution Transformers, o Specialty Transformers catering to applications such as Locomotive
Traction,
o Series & Shunt Reactors, o Mobile Sub Stations, o Earthing Transformers, o Solar Application Transformers, & o Green Hydrogen Application Transformers
TARIL operates on a B2B model, catering to power generation,
transmission, distribution, & industrial sectors
The company has an installed capacity across units of ~40,000MVA Global footprint in 25+ countries
Status as on 30th June
Financial Highlights
Particulars (₹ crores)
FY23
FY24
FY25
Revenue
1,375
1,273
1,950
EBIDTA
118
129
320
EBITDA margin (%)
8.48%
10.03%
16.41%
PAT
37
42
187
PAT margin (%)
2.68%
3.24%
9.44%
Order Book
Order Inflow Q2
Inquires under Negotiation
₹5,472 Crores
₹592 Crores
₹18,700+ Crores
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Charting the Course for Continued Success
Mr. Jitendra Mamtora, began his journey from repairing to manufacturing 33 kV class transformer
Listed on NSE & BSE raising ₹ 139 Cr at price of ₹ 465/share. Commissioned greenfield project at Moraiya in 2010
Successfully commissioned 1150 kV transformer Developed &
manufactured Electric Arc Furnace transformer upto 132 MVA
Raised ₹120 Cr by way of preferential issue on private placement basis in October 2023
Only Indian transformer company having NABL accredited lab for electrical steel testing
1994-2000
2011-2015
2018-2022
2024- 2025
1980-1993
2007-2010
2016-2017
2023
Incorporated TARIL & began manufacturing up to 110 kV class transformers at Changodar plant
Strategic alliance with ZTR Ukraine for 765 kV Transformer Technology License agreement with Fuji Electric Co. Ltd. for 400 & 765 kV class reactor & generator transformers
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Manufactured Green
Transformers & reactors (up to 400 kV) Executed maiden order for 400 kV Generator Transformers Successfully type tested OIP bushings upto 145 kV
Successfully Raised ₹500 crores through QIP Bagged highest ever order for ₹ 740 crores from GETCO Successfully made a strategic backward integration acquisition
Financial Overview Q2
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Financial Highlights - Consolidated
(Figures in Crores)
6
ParticularsQ2 FY26Q2 FY25YoYQ1 FY26H1 FY26H1 FY25Revenue from Operations 460.03 461.54 0%529.33 989.36 783.54 Other Income13.92 11.77 20.31 34.23 15.80 Total Income473.95 473.31 549.64 1,023.59 799.34 Cost of materials consumed315.20 321.63 343.52 658.72 546.14 Employee benefits expense26.05 12.05 116%19.22 45.27 23.19 Other expenses67.26 58.66 78.40 145.66 102.82 Total Operating Expenses408.51 392.34 4%441.14 849.65 672.15 EBITDA65.44 80.97 -19%108.50 173.94 127.19 EBITDA Margin (%)13.81%17.11%19.74%16.99%15.91%Finance costs12.87 10.48 10.47 23.34 22.14 Depreciation7.27 6.41 7.55 14.82 13.19 Profit Before Tax and Exceptional Item45.30 64.09 -29%90.48 135.78 91.86 Exceptional Gain/(Loss)(net of tax)- - - - - Profit Before Tax and after Exceptional Item45.30 64.09 -29%90.48 135.78 91.86 Tax Expense7.95 18.17 23.02 30.97 25.12 Other comprehensive income0.10 0.11 0.08 0.18 0.15 Profit After Tax37.45 46.02 -19%67.54 105.00 66.89 PAT Margin (%)7.90%9.72%12.29%10.26%8.37%EPS (INR)3.37 2.22 Quarterly Financial Highlights(Consolidated)
H1 FY26 Highlights (₹ crores except for EPS)
Revenue from operations
Operational EBITDA & EBITDA %
783.54
989.36
₹127.19
₹173.94
H1 FY25
H1 FY26
H1 FY25
PAT & PAT Margins
10.26%
8.37%
H1 FY26
₹ 3.37
EPS
₹ 2.22
H1 FY25
H1 FY26
H1 FY25
H1 FY26
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Financial Highlights - Standalone
(Figures in Crores)
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ParticularsQ2 FY26Q2 FY25%Q1 FY26H1 FY26H1 FY25Revenue from Operations 428.42 445.93 -4%510.53 938.95 757.52 Other Income12.39 11.78 16.38 28.77 15.79 Total Income440.81 457.71 526.91 967.72 773.31 Cost of materials consumed310.59 316.56 69%344.81 655.40 541.12 Employee benefits expense**22.04 10.35 2%15.66 37.70 20.08 Other expenses65.82 55.15 12%69.74 135.56 93.93 Total Operating Expenses398.45 382.06 430.21 828.66 655.13 EBITDA42.36 75.65 -44%96.70 139.06 118.18 EBITDA Margin (%)9.61%16.53%18.35%14.37%15.28%Finance costs10.75 10.27 2%9.19 19.94 21.74 Depreciation6.00 5.82 1%6.25 12.25 12.10 Profit Before Tax and Exceptional Item25.61 59.56 81.26 106.87 84.34 Exceptional Gain/(Loss)(net of tax)- - - - - Profit Before Tax and after Exceptional Item25.61 59.56 81.26 106.87 84.34 Tax Expense8.81 17.45 4%21.11 29.92 23.86 Other comprehensive income0.10 0.07 0%0.05 0.15 0.07 Profit After Tax16.90 42.18 60.20 77.10 60.55 PAT Margin (%)3.83%9.22%11.43%7.97%7.83%EPS (INR)2.19 2.06 ** 3.74 Cr Expense for on account of ESOP Quarterly Financial Highlights (Standalone)
H1 FY26 Highlights (₹ crores except for EPS)
Revenue from operations
₹938.95
₹757.52
Operational EBITDA & EBITDA %
₹139.06
₹118.18
H1 FY25
H1 FY26
H1 FY25
H1 FY26
PAT & PAT Margins
7.97%
EPS
3.0 ₹ 2.19
7.83%
₹ 2.06
H1 FY25
H1 FY26
H1 FY25
H1 FY26
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Key Operational Highlights – Q2
₹5,472 crore Unexecuted Order Book
₹592 crore New Order Inflow
Operational Highlights
₹18,700+ crore Inquiries under Negotiation
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DRIVERS THAT TRANSCENDED TARIL’S GROWTH STORY OVER THE YEARS
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Growth Drivers
Niche Transformers
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Product Portfolio
Power Transformers
Designed for high voltage transmission & distribution
networks, ensuring efficient power flow and reliability.
Furnace Transformers
Used to feed electric furnace that is
used to melt and refine materials. These are associated with very high secondary (output) currents and wide output voltage regulations in order to cope with furnace need.
Special Transformers
The company also specializes in custom-
designed transformers for specific industrial applications, such as converter duty transformer, earthing transformer and testing transformers.
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Distribution Transformers
These transformers are tailored for
low voltage applications and are vital for local distribution networks, smooth electricity supply to end-users.
ensuring
Rectifier (duty) Transformers
TARIL manufactures rectifier (duty) used in various industries for converting alternating current (AC) to direct current (DC), essential for numerous applications like electroplating, metal refining, and power supply units
Reactors
Shunt Reactors enhance energy efficiency in high- voltage transmission systems. TARIL's Shunt Reactors, available with variable ratings and filled with either mineral oil or ester, feature robust designs backed by rigorous quality control. Series Reactors are mainly used in with the purpose of arc stability for furnace transformers, limiting current, reduction of flicker in network etc.
Transformers application in varied Industries
Distribution
Petrochemical
Pharmaceutical
Power Transmission
Metal Processing
Cement
Green Energy
Railways
Paper and Pulp
Mining
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Driving Growth Through Strong Relationships
Domestic Customer Base
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Safe Harbor
This presentation has been prepared by Transformers and Rectifiers (India) Limited solely to provide information about the Company to its stakeholders.
No representation or warranty, express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. None of the Company nor any of its respective affiliates, advisers or representatives, shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation.
The information contained in this presentation is only current as of its date. The Company may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such revision or changes. Certain statements made in this presentation may not be based on historical information or facts and may be "forward-looking statements", including those relating to the Company’s general business plans and strategy, its future financial condition and growth prospects, and future developments in its industry and its competitive and regulatory environment. Actual results may differ materially from these forward-looking statements due to number of factors, including future changes or developments in the Company’s business, its competitive environment, information technology and political, economic, legal and social conditions in India.
Please note that this presentation is based on the publicly available information including but not limited to Company’s website and Annual Reports.
This communication is for general information purposes only, without regard to specific objectives, financial situations and needs of any particular person. Please note that investments in securities are subject to risks including loss of principal amount.
This presentation does not constitute an offer or invitation to purchase or subscribe for any shares in the company and neither any part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.
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Thank You