Strong Profit Surge Transformers and Rectifiers (India) (T&R India) reported a 135 % year‑on‑year jump in consolidated net profit for the September quarter of FY27, lifting the figure to ₹80 crore from ₹34 crore a year earlier. The rise was largely driven by a ₹131.5 crore exceptional gain, which, when added to operating earnings, pushed the profit margin higher.
Operational Highlights Revenue from operations climbed 60 % YoY to ₹739.4 crore, up from ₹460 crore in the corresponding quarter last year. EBITDA margin improved to 17.4 % from 12.8 %, signalling better cost control and higher utilisation of manufacturing assets. Managing Director and CEO Satyen Mamtora credited the growth to improved utilisation at the Changodar and Moraiya plants.
Capacity Expansion The company is close to completing an expansion of its transformer manufacturing facilities, with commercial production slated to begin around Diwali. The additional capacity is expected to support the company’s plan to scale up operations in the second half of FY27. T&R India also anticipates its backward‑integration facilities will be commercially commissioned by the first quarter of FY28, with a potential one‑quarter delay.
Order Book and Future Outlook Order inflows in the first half of FY27 reached ₹3,283 crore, a 161 % YoY increase, while the unexecuted order book stood at ₹7,237 crore as of 30 September 2026, up 32 % from a year earlier. The inquiry pipeline under negotiation is valued at ₹21,000 crore.
In the September quarter, T&R India secured its first nuclear power order, supplying generator transformers for the Nuclear Power Corporation of India’s Kaiga Units 5 and 6 project. Additional orders came from Megha Engineering & Infrastructures, Andhra Pradesh Transmission Corporation, Damodar Valley Corporation and Gujarat Energy Transmission Corporation.
The company maintains that its existing and expanded manufacturing capacity will be sufficient to meet the growing demand, with no immediate capacity constraints anticipated.