# Transformers & Rectifiers India share price today (Transformers & Rectifiers India Ltd, NSE: TARIL)

> Transformers & Rectifiers India share price today: ₹301.55 at the NSE close on 3 November 2026, down 32.3% in a year. Transformers & Rectifiers India (NSE: TARIL) is worth ₹9,061 crore, trades at a P/E of 29.8 and has closed between ₹232.50 and ₹391.90 over the past 52 weeks. > Transformers & Rectifiers India Ltd's earnings have grown faster than its share price. Earnings per share grew +23.4% in a year while the price moved −32.3%. TARIL · Capital Goods - Transformers · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/transformers-rectifiers-india-ltd

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## Key numbers

- Business trend: Mixed, from fewer quarters than usual
- Price: ₹301.55 (−32.3% in a year)
- P/E: 29.8× (lower than 60% of the last 9.2 years)
- Revenue (Sep 2026): ₹739 Cr (+60.7% on a year ago)
- Profit (Sep 2026): ₹81.0 Cr (+118.9% on a year ago)
- Operating margin: 17.0% (+6.0 points on a year ago)
- ROCE: 23%, FY26
- Profit that came in as cash: 15%, last 3 years

The main question: profits are rising, but only 15% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. ## What is the Transformers & Rectifiers India share price today? Transformers & Rectifiers India Ltd's share price was ₹301.55 at the close on 3 November 2026. It has been falling for 51 weeks. That is 5.0% below its average price over the last 200 trading days. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 4 weeks in a row. In the last 52 weeks it traded between ₹233 and ₹392, and at that close it sat 43% of the way up from that low. Over the last 11 years the share price moved +2,825% while the NIFTY 500 moved +257%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Transformers & Rectifiers India this quarter? 1. Indian funds and insurers (DIIs) cut their stake for 7 quarters in a row From 7.7% to 1.2% of the company by the September 2026 quarter. 2. Profit grew again in the September 2026 quarter Profit was ₹81 crore, +118.9% on a year earlier (₹37 crore), after 2 quarters of decline. Why: Profit rose because the company had more transformer work and ran its Moraiya plant closer to full capacity, so the plant's standing costs were spread over more output. Next results: check whether the Changodar plant starts making transformers and adds real output. From the earnings call on 13 Oct 2026. ## What are Transformers & Rectifiers India's latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), Transformers & Rectifiers India reported revenue of ₹739 crore, up 60.7% from ₹460 crore a year earlier, and a profit of ₹81.0 crore, up 118.9% from ₹37.0 crore. ### Transformers & Rectifiers India results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹739 crore | ₹460 crore | +60.7% |
| Profit | ₹81.0 crore | ₹37.0 crore | +118.9% |
| Earnings per share | ₹2.66 | ₹1.13 | +135.4% |
| Operating margin | 17.0% | 11.0% | +6.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Transformers & Rectifiers India's management discussed these results on a call held on 13 October 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the Transformers & Rectifiers India share price history? Transformers & Rectifiers India closed at ₹301.55 on 3 November 2026, down 32.3% from ₹445.40 a year earlier (31 October 2025) and up 1,982.5% over five years. Its highest weekly close since February 2016 was ₹619.60 on 3 January 2025. ### Transformers & Rectifiers India share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹303.90 | −0.8% |
| 1 month ago · 1 Oct 2026 | ₹280.60 | +7.5% |
| 6 months ago · 30 Apr 2026 | ₹334.20 | −9.8% |
| 1 year ago · 31 Oct 2025 | ₹445.40 | −32.3% |
| 3 years ago · 3 Nov 2023 | ₹89.55 | +236.7% |
| 5 years ago · 4 Nov 2021 | ₹14.48 | +1,982.5% |
| 10 years ago · 4 Nov 2016 | ₹16.11 | +1,771.8% |
| Earliest weekly close in our records · 26 Feb 2016 | ₹10.31 | +2,824.8% |
| Highest weekly close since February 2016 · 3 Jan 2025 | ₹619.60 | −51.3% |
| Lowest weekly close since February 2016 · 27 Mar 2020 | ₹2.65 | +11,279.2% |
| 52-week high (weekly close) · 7 Nov 2025 | ₹391.90 | −23.1% |
| 52-week low (weekly close) · 23 Jan 2026 | ₹232.50 | +29.7% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (564 weekly closes from 26 February 2016 to 3 November 2026.)

## What is the latest news on Transformers & Rectifiers India? 3 Nov 2026: Transformers & Rectifiers India closed at ₹301.55, down 0.8% on the week and up 7.5% on the month. 13 Oct 2026: Transformers & Rectifiers India held its results call for July to September 2026. Management guided: FY27 revenue growth 25% and beyond (floor), profit margin 9%-10% (range), and operating margin around 15% (specific)

### Earlier

- Results for July to September 2026: Revenue up 60.7% and profit up 118.9% on a year earlier. - 18 Sep 2026: ex-date for a dividend of ₹0.25 a share. - 14 Feb 2025: Bonus issue: 1 new share for every 1 held (ex-date). ## What dividend does Transformers & Rectifiers India pay? Transformers & Rectifiers India paid ₹0.25 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.08% at the ₹301.55 close on 3 November 2026. The last was a dividend of ₹0.25 a share, ex-date 18 September 2026. ### Transformers & Rectifiers India dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 18 Sep 2026 | ₹0.25 | Dividend |
| 9 May 2025 | ₹0.20 | Dividend |
| 10 May 2024 | ₹0.20 | Dividend |
| 28 Jul 2023 | ₹0.15 | Dividend |
| 28 Jul 2022 | ₹0.15 | Dividend |
| 2 Sep 2021 | ₹0.10 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Not in its latest year. Transformers & Rectifiers India Ltd paid out 0% of its profit as dividends in FY26. It did pay a dividend in 6 of its last 13 reported years, so there is a history but no current dividend. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Transformers & Rectifiers India management say on the latest results call? On the call for July to September 2026, held on 13 October 2026, Transformers & Rectifiers India's management guided: FY27 revenue growth 25% and beyond (floor), profit margin 9%-10% (range), and operating margin around 15% (specific)

> “Yes, this is repetitive in nature because these are generator transformers, and NPCIL is putting up a few more nuclear power projects in India.”
> Satyen Mamtora, on the call for July to September 2026

### What management guided

- Working-capital days planned at 110-120 by FY27 year-end to enable positive cash flow. - Current book billed over 18-24 months, with a 24-28-month backlog ceiling; MEIL execution 35 months, APTRANSCO delivery within 13 months, DVC 15-28 months, GETCO 24-36 months; PGCIL approximately ₹1,000 crore over 24-28 months, manufacturing from Dec 2027. - Changodar capital spending approximately ₹150 crore; commercial production near Diwali. Moraiya adds 22,000 MVA EHV and pressboard-enabled 30% capacity, planned FY28. - Expanded capacity planned at 80%-85% backward integration; CTC 3,000 MTPA, about 60% captive, commissioned before Diwali, trials Nov-Dec, commercial output January to March 2027 and market sales April to June 2027; margin uplift of 200-300 basis points phased through FY29. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/4872-13-Oct-2026.pdf). (From the call for July to September 2026, 13 October 2026.)

## What to watch in Transformers & Rectifiers India's next results? When Transformers & Rectifiers India reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: Check whether Changodar commissioning converts into initial transformer output and a visible capacity ramp. - What to check (from the call)
- Check whether Changodar commissioning converts into initial transformer output and a visible capacity ramp. - Track collections, inventory and milestone approvals for progress toward positive cash flow. - Verify CTC commissioning, trial runs and commercial production against the stated integration schedule. - Check whether BESS inquiries convert into a first order and clarify the company's assessment of the new market. ## Which stock lists is Transformers & Rectifiers India on? Transformers & Rectifiers India is on one of our India lists: Power & green energy stocks. - [Power & green energy stocks Group on the list: Power equipment, transformers and cables](https://www.sectoralpha.in/sectors/power-stocks-india)

## Is Transformers & Rectifiers India profitable? Transformers & Rectifiers India Ltd earned ₹81.0 Cr of net profit in the Sep 2026 quarter, +118.9% on the same quarter a year earlier. Full-year FY26 profit was ₹272 Cr. That is 11.0% of the quarter's revenue. The same quarter a year earlier earned ₹37.0 Cr. For the full year, FY26 profit was ₹272 Cr (+25.9% on the year before). Why profit moved: revenue changed +60.7% on a year earlier and the margin moved +6.0 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +37.4% and revenue +29.1%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Transformers & Rectifiers India make, and is it growing? Transformers & Rectifiers India Ltd reported ₹739 Cr of revenue in the Sep 2026 quarter, +60.7% on the same quarter a year earlier. That is the 4th quarter in a row with growth on the year before. Over 10 years it has grown 14.3% a year on average. The last full year, FY26, came in at ₹2,507 Cr. The last four reported quarters add to ₹2,831 Cr. FY26 revenue was ₹2,507 Cr, +24.3% on the year before. Recent pace: the last four quarters grew +29.1% on average, against 14.3% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +27.3%, against +30.4% a year over the last 8 quarters (rolling over); profit over the last 12 months grew +23.3%, against +58.0% a year (rolling over). ## How much of every ₹100 of sales does Transformers & Rectifiers India keep? Transformers & Rectifiers India Ltd's operating margin was 17.0% in the Sep 2026 quarter, 6.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between 6.0% and 16.0%. The latest quarter is above every full year in that period. Why the margin moved: operating margin changed +6.2 percentage points on the year while gross margin changed +0.2 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales. ## Is Transformers & Rectifiers India's profit turning into cash? Over the last 3 years, 15% of Transformers & Rectifiers India Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 its operations used ₹105 Cr of cash, against ₹272 Cr of profit. After ₹105 Cr of spending on assets, free cash was −₹210 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 15% of profit came in as cash: the cash cycle got 27 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. When less than 70% of profit comes in as cash, it is the thing to watch on this page. What to look at next: less of the profit turns into cash than it should, and the cash cycle is 27 days longer. The next section looks at where the cash is stuck. ## Where does Transformers & Rectifiers India's cash go? Transformers & Rectifiers India Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 200 days in FY26, up from 173 days in FY21. It spent ₹314 Cr on assets over the last 3 years. Customers take 129 days to pay, and stock sits for 133 days on average. At FY26 sales of ₹2,507 Cr, each day of that cycle ties up about ₹6.9 Cr, so roughly ₹1,374 Cr is tied up in the business at any time. FY26: customers took 129 days to pay and stock sat for 133 days, about 4.4 months of sales sitting as stock, for a full cycle of 200 days, longer than FY21's 173. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 133 days. Customers pay about 129 days after that. Suppliers are paid at 62 days. Together that makes the 200-day cycle. Spending on assets: ₹314 Cr over the last 3 years, against ₹82.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹138 Cr (FY26): assets paid for that are not earning yet. In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit. ## What is Transformers & Rectifiers India's P/E ratio, and how does it compare with its own history? Transformers & Rectifiers India Ltd's P/E is 29.8×, in the middle of its own history: higher than 40% of past readings. Its usual P/E (the middle reading) is 32.5×, over 9.2 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +23.4% while the price moved −32.3%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved +83.5% a year; about +82.5% a year came from earnings growth and about +1.0 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple. The PEG ratio and its quarterly curve, which only the second data source has, are not shown on this page: its two data sources disagree by up to 7.0% on reported income across 16 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Is the Transformers & Rectifiers India business getting better or worse? Transformers & Rectifiers India Ltd's business is giving mixed signals. Growth is slowing from a very fast pace: profit growth has eased from +792.9% at its peak to +23.3%, but the business is still expanding, with ROCE steady at 23.0%. This is based on 9 quarters of 4 measures, with some gaps. Why it matters: when the lines disagree, each line above matters more than any single label. The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone. This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution. ## How much does Transformers & Rectifiers India earn on its capital? Transformers & Rectifiers India Ltd earned a ROCE of 23% in FY26. That is up from a low of 4% in FY15. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 10.8% net margin and 0.94× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 10.8% net margin × 0.94× asset turnover × 1.76× leverage (assets divided by equity) ≈ 17.9% on equity. The margin does its share; borrowing is a big part of it. The quarterly return lines and the return-on-capital-used (ROIC) line, which only the second data source has, are not shown on this page: its two data sources disagree by up to 7.0% on reported income across 16 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Does Transformers & Rectifiers India have too much debt? Transformers & Rectifiers India Ltd had ₹457 Cr of borrowings against ₹1,515 Cr of equity in FY26, so its debt is 0.30× its equity. Its operating profit is 8 times its interest bill. Over 5 years borrowings went from ₹263 Cr to ₹457 Cr. Over the last 3 of those years it spent ₹314 Cr on assets. Part of the spending on assets is being paid for with borrowed money. The total-debt and debt-to-equity series, which only the second data source has, are not shown on this page: its two data sources disagree by up to 7.0% on reported income across 16 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## What is the Transformers & Rectifiers India shareholding pattern? Domestic institutions cut their stake in Transformers & Rectifiers India Ltd by 5.7 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 1.2% of the company. Foreign institutions moved −2.4 points over the same period, to 7.0%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: −5.7 points over 8 quarters, to 1.2%; Foreign institutions: −2.4 points over 8 quarters, to 7.0%; Promoters: −1.8 points over 8 quarters, to 64.4%. Why the owners changed: domestic institutions drove it (−5.7 points), together with foreign institutions (−2.4 points). They reduced their stake. ## How far is Transformers & Rectifiers India from balance-sheet trouble? For Transformers & Rectifiers India Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Transformers & Rectifiers India rank in its industry? 57.3 out of 100, rank 4 of 12 in Capital Goods - Transformers, with 75% of the evidence available. Transformers & Rectifiers India Ltd scores 57.3 out of 100 against the 12 companies it is compared with in Capital Goods - Transformers, ranking 4. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 23.1 + 14.6 + 10.1 + 9.5 = 57.3. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Transformers & Rectifiers India compared with? Transformers & Rectifiers India ranks 4 of 12 Capital Goods - Transformers companies on the 4-Factor Sector Score, with 57.3 out of 100. 1. [Indo Tech Transformers Ltd](https://www.sectoralpha.in/stocks/indo-tech-transformers-ltd) INDOTECH · losing its lead · Most evidence points up · 96% evidence 72.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.9/35 · Revenue 22.1% · Profit 29.9% · Operating margin change -1 points · 88% evidence Capital efficiency 20.2/25 · ROCE 40.4% · Operating margin 14% · 100% evidence Valuation 15.5/20 · P/E 29× · PEG 0.74 · 100% evidence Relative strength 13.4/20 · Lead over its industry 6.5% · Lead over NIFTY 500 20.6% · 1 year 60.8% · 100% evidence · 8 of 12 weeks ahead Exact sum: 22.9 + 20.2 + 15.5 + 13.4 = 72 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Supreme Power Equipment Ltd](https://www.sectoralpha.in/stocks/supreme-power-equipment-ltd) SUPREMEPWR · turning · Evidence leans up · 78% evidence 62.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.2/35 · Revenue 23.9% · Profit 3.6% · Operating margin change -1.4 points · 83% evidence Capital efficiency 14.9/25 · ROCE 22% · Operating margin 17.3% · 76% evidence Valuation 11.8/20 · P/E 24.6× · PEG n/a · 50% evidence Relative strength 19.3/20 · Lead over its industry 4.9% · Lead over NIFTY 500 22.3% · 1 year 17.4% · 100% evidence · 4 of 12 weeks ahead Exact sum: 16.2 + 14.9 + 11.8 + 19.3 = 62.2 · What this means: Relative strength against the index is 22.3%, and revenue and profit growth are weak. 3. [CG Power & Industrial Solutions Ltd](https://www.sectoralpha.in/stocks/cg-power-industrial-solutions-ltd) CGPOWER · turning · Evidence leans up · 100% evidence 57.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.5/35 · Revenue 23.8% · Profit 28.3% · Operating margin change 1 points · 100% evidence Capital efficiency 18.8/25 · ROCE 26.7% · Operating margin 14% · 100% evidence Valuation 4.3/20 · P/E 90.6× · PEG 6.43 · 100% evidence Relative strength 6.8/20 · Lead over its industry -8% · Lead over NIFTY 500 7.2% · 1 year 9.1% · 100% evidence · 0 of 12 weeks ahead Exact sum: 27.5 + 18.8 + 4.3 + 6.8 = 57.4 · What this means: Earnings are strong; relative strength in its sector is -8% and the one-year return is 9.1%. 4. Transformers & Rectifiers India Ltd this page TARIL · turning · Evidence leans up · 75% evidence 57.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.1/35 · Revenue 27.3% · Profit 23.3% · Operating margin change 6 points · 95% evidence Capital efficiency 14.6/25 · ROCE 23.3% · Operating margin 17% · 76% evidence Valuation 10.1/20 · P/E 29.4× · PEG n/a · 15% evidence Relative strength 9.5/20 · Lead over its industry -11.3% · Lead over NIFTY 500 4.6% · 1 year -32.9% · 100% evidence · 2 of 12 weeks ahead Exact sum: 23.1 + 14.6 + 10.1 + 9.5 = 57.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Marsons Ltd](https://www.sectoralpha.in/stocks/marsons-ltd) MARSONS · breaking out · Evidence leans up · 81% evidence 52.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.3/35 · Revenue 33.5% · Profit 43.6% · Operating margin change -0.9 points · 88% evidence Capital efficiency 13.7/25 · ROCE 24.4% · Operating margin 14.7% · 100% evidence Valuation 7.0/20 · P/E 57.8× · PEG 7.62 · 100% evidence Relative strength 11.3/20 · Lead over its industry n/a · Lead over NIFTY 500 14.1% · 1 year -13.7% · 25% evidence · 9 of 12 weeks ahead Exact sum: 20.3 + 13.7 + 7 + 11.3 = 52.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Voltamp Transformers Ltd](https://www.sectoralpha.in/stocks/voltamp-transformers-ltd) VOLTAMP · breaking out · Evidence leans down · 100% evidence 44.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.9/35 · Revenue 22.8% · Profit -1.8% · Operating margin change -4 points · 100% evidence Capital efficiency 15.6/25 · ROCE 23.5% · Operating margin 15% · 100% evidence Valuation 3.2/20 · P/E 32.4× · PEG 4.92 · 100% evidence Relative strength 12.1/20 · Lead over its industry 0.3% · Lead over NIFTY 500 16.9% · 1 year 39.8% · 100% evidence · 11 of 12 weeks ahead Exact sum: 13.9 + 15.6 + 3.2 + 12.1 = 44.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Ujaas Energy Ltd](https://www.sectoralpha.in/stocks/ujaas-energy-ltd) UEL · leader · Evidence leans down · 77% evidence 43.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.4/35 · Revenue -26% · Profit -3.5% · Operating margin change 9.5 points · 100% evidence Capital efficiency 6.8/25 · ROCE 3.9% · Operating margin 20.4% · 100% evidence Valuation 8.5/20 · P/E 378× · PEG n/a · 15% evidence Relative strength 15.1/20 · Lead over its industry 4.4% · Lead over NIFTY 500 21.2% · 1 year 58.8% · 70% evidence · 12 of 12 weeks ahead Exact sum: 13.4 + 6.8 + 8.5 + 15.1 = 43.8 · What this means: Relative strength against the index is 21.2%, and revenue and profit growth are weak. 8. [Bharat Bijlee Ltd](https://www.sectoralpha.in/stocks/bharat-bijlee-ltd) BBL · turning · Evidence leans down · 100% evidence 40.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.5/35 · Revenue 26.4% · Profit -11.6% · Operating margin change 1 points · 100% evidence Capital efficiency 4.9/25 · ROCE 8.4% · Operating margin 8% · 100% evidence Valuation 10.7/20 · P/E 20.3× · PEG 4.48 · 100% evidence Relative strength 5.1/20 · Lead over its industry -20.6% · Lead over NIFTY 500 -5.2% · 1 year -22.8% · 100% evidence · 0 of 12 weeks ahead Exact sum: 19.5 + 4.9 + 10.7 + 5.1 = 40.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [Schneider Electric Infrastructure Ltd](https://www.sectoralpha.in/stocks/schneider-electric-infrastructure-ltd) SCHNEIDER · quiet · Evidence leans down · 96% evidence 35.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 7.2/35 · Revenue 9.5% · Profit -29.9% · Operating margin change -6 points · 88% evidence Capital efficiency 15.5/25 · ROCE 29.6% · Operating margin 5% · 100% evidence Valuation 5.8/20 · P/E 135× · PEG 2.78 · 100% evidence Relative strength 6.7/20 · Lead over its industry -5.2% · Lead over NIFTY 500 9% · 1 year 30.7% · 100% evidence · 1 of 12 weeks ahead Exact sum: 7.2 + 15.5 + 5.8 + 6.7 = 35.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [Shilchar Technologies Ltd](https://www.sectoralpha.in/stocks/shilchar-technologies-ltd) SHILCTECH · quiet · Most evidence points down · 82% evidence 33.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 3.6/35 · Revenue -9.2% · Profit -29.9% · Operating margin change -10 points · 95% evidence Capital efficiency 21.2/25 · ROCE 50.7% · Operating margin 21% · 76% evidence Valuation 7.2/20 · P/E 32.8× · PEG n/a · 50% evidence Relative strength 1.1/20 · Lead over its industry -21.7% · Lead over NIFTY 500 -7.7% · 1 year -17.5% · 100% evidence · 0 of 12 weeks ahead Exact sum: 3.6 + 21.2 + 7.2 + 1.1 = 33.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [Danish Power Ltd](https://www.sectoralpha.in/stocks/danish-power-ltd) DANISH · breaking out · Too little evidence to rank firmly · 32% evidence 52.9 out of 100 Growth Capital Valuation Relative
12. [Vilas Transcore Ltd](https://www.sectoralpha.in/stocks/vilas-transcore-ltd) VILAS · breaking out · Too little evidence to rank firmly · 32% evidence 45.6 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Capital Goods - Transformers](https://www.sectoralpha.in/sectors/capital-goods-transformers), all 12 compared on one page. ## Which companies are close to Transformers & Rectifiers India in size? Transformers & Rectifiers India is the 4th largest of 12 Capital Goods - Transformers companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: CG Power & Industrial Solutions, Schneider Electric Infrastructure and Voltamp Transformers. Just below it: Shilchar Technologies, Indo Tech Transformers and Bharat Bijlee. ### Capital Goods - Transformers companies close in size

1. [CG Power & Industrial Solutions Ltd](https://www.sectoralpha.in/stocks/cg-power-industrial-solutions-ltd) ₹1,26,668 crore
2. [Schneider Electric Infrastructure Ltd](https://www.sectoralpha.in/stocks/schneider-electric-infrastructure-ltd) ₹26,088 crore
3. [Voltamp Transformers Ltd](https://www.sectoralpha.in/stocks/voltamp-transformers-ltd) ₹10,472 crore
4. Transformers & Rectifiers India Ltd ₹8,954 crore
5. [Shilchar Technologies Ltd](https://www.sectoralpha.in/stocks/shilchar-technologies-ltd) ₹4,091 crore
6. [Indo Tech Transformers Ltd](https://www.sectoralpha.in/stocks/indo-tech-transformers-ltd) ₹2,884 crore
7. [Bharat Bijlee Ltd](https://www.sectoralpha.in/stocks/bharat-bijlee-ltd) ₹2,634 crore

[All 12 Capital Goods - Transformers companies, largest first](https://www.sectoralpha.in/sectors/capital-goods-transformers#all-companies)

### Companies close in size in other industries

1. [Indian Energy Exchange Ltd](https://www.sectoralpha.in/stocks/indian-energy-exchange-ltd) ₹8,997 crore · Exchanges
2. [Avanti Feeds Ltd](https://www.sectoralpha.in/stocks/avanti-feeds-ltd) ₹8,974 crore · FMCG - Shrimp
3. Transformers & Rectifiers India Ltd ₹8,954 crore
4. [Indiamart Intermesh Ltd](https://www.sectoralpha.in/stocks/indiamart-intermesh-ltd) ₹8,944 crore · E-Commerce - Platform - Utility
5. [Yatharth Hospital & Trauma Care Services Ltd](https://www.sectoralpha.in/stocks/yatharth-hospital-trauma-care-services-ltd) ₹8,931 crore · Hospitals

## What else do people ask about Transformers & Rectifiers India? ### What is Transformers & Rectifiers India's share price today? Transformers & Rectifiers India Ltd's share price is ₹301.55, −32.3% over the past year. The whole company is worth ₹9,061 Cr on the market. In the last 52 weeks it traded between ₹233 to ₹392; today it is 43% of the way up from the low, 5.0% below its 200-day average (as of 3 November 2026). ### What were Transformers & Rectifiers India's latest quarterly results? Transformers & Rectifiers India Ltd reported revenue of ₹739 Cr and net profit of ₹81.0 Cr for the Sep 2026 quarter. Revenue rose 60.7% and profit rose 118.9% compared with a year earlier. Earnings per share were ₹2.66 (as of 3 November 2026). ### What is Transformers & Rectifiers India's market cap? Transformers & Rectifiers India Ltd's market capitalisation is ₹9,061 Cr at a share price of ₹301.55. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Transformers & Rectifiers India performing? Transformers & Rectifiers India Ltd's share price has been falling for 51 weeks. In its latest quarter, revenue rose 60.7% and profit rose 118.9% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 4 weeks running (as of 3 November 2026). ### Will Transformers & Rectifiers India's share price go up? This page does not forecast Transformers & Rectifiers India Ltd's share price. What it shows instead: the share price is ₹301.55, and it has been falling for 51 weeks. Its P/E of 29.8× is higher than 40% of its own last 9 years (as of 3 November 2026). ### Who owns Transformers & Rectifiers India? Promoters own 64.4% of Transformers & Rectifiers India Ltd, foreign institutions 7.0%, domestic institutions 1.2% and the public 27.5% (latest quarter). The biggest change over the last two years: Domestic institutions cut their stake by 5.7 percentage points over 8 quarters (as of 3 November 2026). ### Where is Transformers & Rectifiers India in its business cycle? Transformers & Rectifiers India Ltd's FY26 operating margin was 15.0%, against a 13-year range of 6.0% to 16.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 17.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Transformers & Rectifiers India story? The main question: profits are rising, but only 15% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Transformers & Rectifiers India a stock worth studying right now? What the numbers show: Transformers & Rectifiers India Ltd's earnings have grown faster than its share price. Earnings per share grew +23.4% in a year while the price moved −32.3%. The main open question: whether the cash starts to follow the profit. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Transformers & Rectifiers India share price forecast for 2026? What management itself guided: FY27 revenue growth 25% and beyond (floor), profit margin 9%-10% (range), and operating margin around 15% (specific)

## Lists

- Power & green energy stocks: https://www.sectoralpha.in/sectors/power-stocks-india

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