Transformers and Rectifiers (India) Ltd
TARIL FY26: Revenue Rs. 2,395 Crore (+23% YoY), Order Book Rs. 5,005 Crore
RESULTS
▲ Positive Development
LOW RISK
📅 Filed on BSE: 22 Apr 2026, 10:31 AM IST · BSE ID: fd75bfa4-7faf-412a-9a0b-9a55cf3c079c
View Original BSE Filing (PDF)
💡
In Simple Terms
TARIL, a transformer manufacturer, posted strong FY26 earnings with revenue up 23% to Rs. 2,395 Crore and a Rs. 5,005 Crore order backlog.
🤖 AI Summary
- FY26 revenue Rs. 2,395 Crore, up ~23% YoY; PAT Rs. 225 Crore, up ~20% YoY
- Q4 FY26 revenue Rs. 752 Crore, up ~16% YoY; Q4 PAT Rs. 77 Crore
- Unexecuted order book Rs. 5,005 Crore; FY26 inflows Rs. 2,374 Crore
- Planned capex Rs. 600 Crore over 15 months for capacity and backward integration
- Pipeline of inquiries under negotiation exceeds Rs. 23,000 Crore; EBITDA Rs. 370 Crore, up ~17% YoY
🔢 Key Numbers — exact figures from BSE filing, not rounded
FY26 Revenue from Operations
Rs. 2,395 Crore
~23%
FY26 Profit After Tax
Rs. 225 Crore
~20%
FY26 EBITDA
Rs. 370 Crore
~17%
Q4 FY26 Revenue
Rs. 752 Crore
~16%
Unexecuted Order Book (as of 31.03.2026)
Rs. 5,005 Crore
FY26 Order Inflows
Rs. 2,374 Crore
Pipeline of Inquiries Under Negotiation
Exceeds Rs. 23,000 Crore
Planned Capex (15 months)
Rs. 600 Crore
🏢 How This Affects the Company
Revenue growth of 23% YoY to Rs. 2,395 Crore reflects strong execution across utilities, infrastructure, and industrial segments. Unexecuted order book of Rs. 5,005 Crore with FY26 inflows of Rs. 2,374 Crore provides substantial visibility for future revenues across domestic and international markets.
Profit after tax increased 20% YoY to Rs. 225 Crore; EBITDA grew 17% YoY to Rs. 370 Crore. Margin improvement driven by operating leverage and cost optimization. Planned capex of Rs. 600 Crore over 15 months will require capital deployment but is aligned with capacity expansion strategy.
Manufacturing efficiency and supply chain optimization contributed to consistent financial performance. Capacity expansion and backward integration initiatives are progressing as planned and will enhance execution capabilities and operational efficiencies going forward.
Order book of Rs. 5,005 Crore provides revenue visibility but company has adopted calibrated order booking approach, focusing on projects with better margins and favorable terms. No material execution or supply chain risks disclosed in filing.
👥 What This Means For Shareholders
✅
Action Required
No action required. Review full results announcement and monitor dividend declaration announcement expected separately.
👤
Who Is Affected
All shareholders benefit from revenue growth trajectory and strengthened order book providing earnings visibility. Dividend payout will be disclosed separately by management.
🔍
Management Signal
Management prioritizes disciplined order selection focusing on margins and payment terms over volume, signaling focus on sustainable profitability over aggressive growth.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Dividend declaration and record date announcement for FY26 earnings distribution
Capex execution updates and quarterly order inflows in Q1 FY27 results due July 2026
Order book conversion rate in Q1 FY27 to validate Rs. 5,005 Crore execution visibility
LOW RISK
Strong order book, disciplined margins focus, and 15-month capex timeline reduce near-term execution risks. No operational or financial distress signals.
💡 Investor Takeaway
FY26 delivered Rs. 2,395 Crore revenue (+23% YoY) and Rs. 225 Crore PAT (+20% YoY). Order book stands at Rs. 5,005 Crore. Rs. 600 Crore capex planned over 15 months supports future capacity. Management signals disciplined execution with focus on margin-accretive projects.
⚖️ Strengths & Concerns
✅ Positives
- Strong revenue growth of 23% YoY to Rs. 2,395 Crore with profit growth of 20% YoY to Rs. 225 Crore
- Robust unexecuted order book of Rs. 5,005 Crore provides multi-year revenue visibility with substantial pipeline
⚠️ Concerns
- Q4 FY26 EBITDA described as resilient despite marginal pressure on margins in quarter
- Planned Rs. 600 Crore capex over 15 months represents significant capital commitment amid execution risk