Transformer & Rectifiers surges on 135% jump in Q2 PAT to Rs 80 crore

Profit before tax (PBT) surged 142.7% to Rs 109.93 crore in Q2 FY27 as compared with Rs 45.30 crore in Q2 FY26.

The quarter's profit included an exceptional gain of Rs 131.5 crore.

On a standalone basis, the company reported a 346.5% jump in net profit to Rs 75.01 crore on a 65.5% increase in revenue from operations to Rs 709.04 crore in Q2 FY27 over Q2 FY26.

During the quarter, standalone EBITDA jumped 205% year on year to Rs 113.90 crore, while EBITDA margin expanded to 16.1% from 8.7% in Q2 FY26.

The company?s order inflow rose 97% year on year to Rs 1,169 crore in Q2 FY27. Its unexecuted order book stood at Rs 7,237 crore as on 30 September 2026, up 32% year on year, providing revenue visibility for the next 18?24 months.

The company said its inquiry pipeline under negotiation stood at approximately Rs 21,000 crore. The ongoing transformer manufacturing expansion at Changodar is nearing completion, with commercial production expected to commence around Diwali. The company also said that its Q2 FY27 performance reflected improved execution, higher capacity utilisation and operating leverage across manufacturing facilities.

Satyen Mamtora, Managing Director & CEO, said, ?Our performance during Q2FY27 reinforces our confidence in the company's growth trajectory, supported by order inflows, improving capacity utilization, and continued progress on our expansion initiatives. The current order book provides comfortable revenue visibility, while the Changodar expansion positions us to service a larger opportunity pipeline across markets. Alongside capacity enhancement, we are strengthening our global customer engagement through our UK subsidiary, particularly across the US and European markets. Our entry into the nuclear power sector through the NPCIL Kaiga Units 5 & 6 project, along with recent orders from Damodar Valley Corporation and Gujarat Energy Transmission Corporation Limited, reflects the confidence customers place in our engineering and manufacturing capabilities. As India advances towards Viksit Bharat 2047, a resilient power grid, greater energy security and strong domestic manufacturing will be essential. We are investing in capacity, technology and backward integration to contribute to this national growth journey and to build a stronger platform for sustainable, long-term growth. With these initiatives progressing as planned, we remain on track to achieve our FY27 guidance.?

Transformers and Rectifiers (India) is a leading manufacturer of transformers and reactors. It caters to power generation, transmission, distribution, and industrial sectors on a B2B model. Its product portfolio spans single-phase power transformers up to 500 MVA and 1200 kV, furnace, rectifier, and distribution transformers, as well as specialty units for locomotive traction, solar applications, green hydrogen, and mobile substations.

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