Transformers and Rectifiers (India) Ltd (TARIL) reported a 135 per cent year-on-year increase in consolidated net profit to ₹80 crore for the second quarter of FY27, as stronger revenue and order inflows lifted the Ahmedabad-based power equipment manufacturer’s performance.
Revenue from operations rose 61 per cent year-on-year to ₹739 crore during the quarter, while order inflows increased 97 per cent to ₹1,169 crore, according to the company’s official release reported by The Hindu BusinessLine.
TARIL’s unexecuted order book stood at ₹7,237 crore as of September 30, 2026, representing a 32 per cent increase from the year-ago period. The company said it expects to execute this order book over the next 18 to 24 months, providing visibility for its transformer manufacturing operations.
The company’s inquiry pipeline under negotiation was valued at approximately ₹21,000 crore. TARIL said the historical order win ratio for this pipeline was between 10 and 15 per cent. Around 80 per cent of the bidding pipeline comprises domestic opportunities, while the remaining 20 per cent relates to export markets.
The pipeline includes a mix of government and private customers across utility and industrial segments. TARIL has recently secured orders from Damodar Valley Corporation and Gujarat Energy Transmission Corporation Ltd, and has entered the nuclear power sector through the Nuclear Power Corporation of India Ltd’s Kaiga Units 5 and 6 project.
The company also completed dynamic short-circuit testing on three transformer units during the quarter. The testing assesses whether the units can withstand extreme electrical and mechanical stresses under fault conditions in accordance with international standards.
TARIL is nearing completion of a transformer manufacturing expansion at Changodar near Ahmedabad. Commercial production from the additional capacity is expected to begin around Diwali. The company said the expansion would support execution of its order book and help it address a larger opportunity pipeline across domestic and international markets.
Managing Director and Chief Executive Officer Satyen Mamtora said the quarterly performance strengthened the company’s confidence in its growth trajectory, citing order inflows, improving capacity utilisation and progress on expansion initiatives. He said the existing order book provided revenue visibility, while the Changodar facility would enable TARIL to pursue a larger market opportunity.
The manufacturer is also using its UK subsidiary to strengthen international customer engagement, particularly in the United States and Europe. It said investments in capacity expansion, technology and backward integration would support its long-term plans as India focuses on power infrastructure, energy security and domestic manufacturing.
TARIL’s shares ended 3.05 per cent higher at ₹303.80 on the BSE after the results were reported.
