Transformers & Rectifiers India Ltd (TARIL) — shareholding pattern, promoter holding, financials and share price
About Transformers & Rectifiers India Ltd (TARIL)
Transformers & Rectifiers India Ltd operates in the Heavy Electrical Equipment industry, within the Capital Goods sector. It trades on the NSE as TARIL and on the BSE under scrip code 532928. Its ISIN is INE763I01026.
Transformers and Rectifiers (India) Ltd. is a manufacturer of Power, Furnace and Rectifier Transformers. [1]
Transformers and Rectifiers (India) Limited (TARIL) is a B2B manufacturer of power, distribution, furnace, rectifier and specialty transformers and reactors, operating multiple plants around Ahmedabad and serving utilities, EPCs and industrial clients across 40+ countries with an installed capacity of roughly 75,000 MVA following recent expansions and acquisitions.
Financially TARIL reported standalone FY26 revenue of ₹2,395 crore (23% YoY) with EBITDA of ₹370 crore and EBITDA margin ~15.1%, consolidated FY26 revenue ~₹2,509 crore and PAT growth of ~20–26% YoY; the company delivered record production (~33,763 MVA) and maintained healthy profitability despite margin pressure from input costs.
Listed peers in Heavy Electrical Equipment: Atlanta Electricals Ltd, Elecon Engineering Company Ltd, Voltamp Transformers Ltd, Quality Power Electrical Equipments Ltd, Powerica Ltd, Transrail Lighting Ltd.
Valuation & Returns
10 Jul 2026At ₹344.55 a share on 10 Jul 2026, Transformers & Rectifiers India Ltd (TARIL) was valued at a price-to-earnings ratio of 38x against an industry P/E of 52.37x and a price-to-book of 8.26x on a book value of ₹41.71 per share as of Mar 2025. Solomo computes return on equity of 21.74% and return on capital employed of 26.98% from filed results. Earnings ratios use consolidated results for the twelve months Jun 2025 to Mar 2026.
- P/E
- 38x
- Industry P/E
- 52.37x
- P/B
- 8.26x
- EPS (TTM)
- ₹9.07
- Book value / share
- ₹41.71
- ROE
- 21.74%
- ROCE
- 26.98%
- ROA
- 12.46%
- Debt / equity
- 0.23x
- Dividend yield
- 0.06%
- EBITDA margin
- 17.7%
- 52-week range
- ₹224.05 – ₹578.5
Ratios are computed from filed results and the last recorded price. Not investment advice.
Financial Performance
Mar 2026In the year ended Mar 2026, Transformers & Rectifiers India Ltd (TARIL) reported revenue of ₹2,509 crore, net profit of ₹272 crore and earnings per share of ₹8.81. That compares with revenue of ₹2,017 crore and net profit of ₹216 crore in Mar 2025. Figures are consolidated, as filed with the exchanges.
In the quarter ended Mar 2026, revenue was ₹783 crore and net profit ₹91 crore (consolidated).
| Metric | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue (₹ cr) | 1,158 | 1,396 | 1,291 | 2,017 | 2,509 |
| Net profit (₹ cr) | 14 | 42 | 47 | 216 | 272 |
| EPS (₹) | 0.53 | 1.54 | 1.56 | 7.14 | 8.81 |
| Measure | 10Y | 5Y | 3Y | 1Y |
|---|---|---|---|---|
| Sales growth | 13.26% | 23.34% | 19.98% | 55.98% |
| Profit growth | - | 221.95% | 143.23% | 360.41% |
| Stock price CAGR | 34% | 82% | 87% | -35% |
Ownership Summary
Jun 2026As of Jun 2026, promoters hold 64.36% of Transformers & Rectifiers India Ltd (TARIL) (unchanged from the previous quarter), foreign institutional investors (FII) hold 7.8% and domestic institutional investors (DII) hold 1.53%. Promoters have pledged 21.8% of their holding. Market capitalisation was ₹10,342 crore on 10 Jul 2026. Shareholding is filed quarterly with BSE and NSE; Solomo carries every filing back to Sep 2010.
Largest disclosed public shareholders in Jun 2026: State Of Wisconsin Investment Board - Alliance Bernstein L.P. 1.22%, HUF 1.12%, Invesco India Flexi Cap Fund 1.03%. Only stakes above the 1% disclosure threshold are named in filings.
| Quarter | Promoter | Pledged | FII | DII | Public |
|---|---|---|---|---|---|
| Jun 2026 | 64.36% | 21.8% | 7.8% | 1.53% | 35.64% |
| Mar 2026 | 64.36% | 21.8% | 8.33% | 1.77% | 35.64% |
| Dec 2025 | 64.36% | 21.8% | 7.01% | 4.19% | 35.64% |
| Sep 2025 | 64.36% | 21.8% | 11.21% | 5.95% | 35.64% |
| Jun 2025 | 64.36% | 21.8% | 10.94% | 6.03% | 35.64% |
| Mar 2025 | 64.36% | 21.8% | 11.33% | 7.22% | 35.64% |
| Dec 2024 | 64.36% | 21.8% | 11.08% | 7.67% | 35.64% |
| Sep 2024 | 66.16% | 22.3% | 9.34% | 6.92% | 33.84% |