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T R I L share price & results

T R I L· Capital Goods· Industrials

Results to
Sept 2026
Latest analysed call
Q2 FY27
Ownership as of
Sept 2026

Ahmedabad-based manufacturer of power, distribution, furnace, rectifier & specialty transformers and reactors.

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue709 ₹ crore+65.7% YoYQuarterly, as filedQuarter to Sept 2026Revenue from operations as filed.
Operating margin16.0 %+9.0 pts YoYOperating profit / revenueQuarter to Sept 2026For the quarter; a change is in percentage points.
Net profit75.0 ₹ crore+341.2% YoYQuarterly, as filedQuarter to Sept 2026Profit after tax as filed.
Return on equity18.33 %−4.2 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Sept 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin-8.54 %−4.7 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)27.29 %−31.9 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Sept 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Sept 2026

Guidance

What management said, and what became of it

1 of 9 judged targets kept · 20 open · verdicts reflect calls analysed to Q2 FY27.

T R I L management guidance track record on Inve: 29 targets tracked across analysed earnings calls (1 achieved, 8 missed, 20 open).

TargetOriginal wordingSaidLatest callVerdict
Total MVA Capacity75,000 MVA post-expansion
Call transcript, Q3 FY26 · 8 Jan 2026		Q3 FY26Q2 FY27:Promise achieved in prior quarter.
Call transcript, Q2 FY27 · 13 Oct 2026		Achieved
Revenue Target (FY26)INR3,500 crores in next financial year (FY26)
Call transcript, Q2 FY25 · 8 Oct 2024		Q2 FY25Q2 FY27:Target period has passed.
Call transcript, Q2 FY27 · 13 Oct 2026		Ghosted
Long-Term Revenue TargetUS $1 billion in the next three financial years (by FY28)
Call transcript, Q2 FY25 · 8 Oct 2024		Q2 FY25Q2 FY27:Timeline pushed to 'late part of FY29 or early 2030'.
Call transcript, Q2 FY27 · 13 Oct 2026		Delayed

Source: Inve Guidance Tracker for T R I L · to Q2 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

8 of T R I L's 29 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 26 more targets are in the full ledger.

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Price

₹314.3 +4.87% · +₹14.6

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −34.7% 1Y

₹300₹400₹500Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q3 FY26 — 8 Jan 2026Q4 FY26 — 21 Apr 2026Q1 FY27 — 21 Jul 2026Q2 FY27 — 13 Oct 2026

1Y: ₹481 on 24 Oct 2025 → ₹314.3. High ₹481 (24 Oct 2025), low ₹229.58 (2 Feb 2026).

Previous close
₹299.7
Market cap
₹9.4k Cr
52-week range
₹229.58 – ₹472.2
One year
−33.44%
Price to earnings (TTM to Sept 2026)
31.16×
Return on equity (TTM to Sept 2026)
18.33%

Overview

Symbol
NSE:TARIL
Industry
Industrials
Exchange
NSE
Currency
INR

What T R I L does

Based on the company's own presentations, annual report and earnings calls.

Transformers and Rectifiers (India) Limited designs, manufactures and services a wide range of power, distribution, furnace, rectifier and specialty transformers and reactors (up to 500 MVA and 1200 kV class) used by power generation, transmission, distribution and industrial customers such as utilities, railways, metal processing, cement, paper and green-energy plants. It operates a B2B, largely make-to-order model, winning tenders and negotiated orders from state utilities (e.g., PGCIL, GETCO), industrial groups and export customers, and earns by designing, manufacturing, testing and delivering custom-engineered transformer units to each buyer's specification. The company also undertakes specialised work such as HVDC transformer repair and backward-integrated component manufacturing (CTC, bushings, pressboard, fabrication) to support its core transformer output.

Segments

  • Transformers & Reactors
Installed manufacturing capacity
~75,000 MVA per annum across three plants
Manufacturing plants
3 plants (Moraiya, Changodar, Odhav), all near Ahmedabad, Gujarat
Export/global footprint
40+ countries
Cumulative installations worldwide
16,000+ transformers installed globally
Product voltage/capacity range
0.5 MVA to 500 MVA capacity, 5 kV to 1200 kV voltage class
Market position
Self-described as India's largest private-sector transformer manufacturing facility; second-largest transformer maker in India by capacity
Founded 1981Headquarters Ahmedabad, Gujarat, IndiaEmployees 1,200 (FY2023-24 (Annual Report) Company website

How the price took the results

close before → close after

Q2 FY27
+3.1%
13 Oct
Q1 FY27
−5.0%
21 Jul
Q4 FY26
+3.7%
21 Apr
Q3 FY26
−9.2%
8 Jan

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

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