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The company said it has secured an order worth more than ₹1,000 crore from Power Grid Corporation to manufacture and supply transformers, with the project to be completed over the next 30 months.
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Transformers & Rectifiers India Ltd. on Tuesday said it has received an order from Power Grid Corporation of India Ltd. to manufacture and supply transformers of various capacities, along with related works.
The company said the order falls under its "ultra-mega" category, which refers to contracts worth more than ₹1,000 crore, excluding GST. It did not disclose the exact value of the order. Power Grid is India's largest state-owned power transmission company and is responsible for developing and operating the country's interstate electricity transmission network.
According to the company's regulatory filing, the project is scheduled to be completed over the next 30 months.
The company also said neither its promoters, promoter group nor group companies have any interest in the awarding entity. It added that the contract is not a related-party transaction.
The order comes as India continues to expand its power transmission network to support rising electricity demand and the integration of renewable energy into the grid. Demand for transformers has remained strong in recent years, driven by higher investment in transmission and distribution infrastructure.
In the March quarter (Q4FY26), the company's revenue rose 15.7% year-on-year to ₹782.67 crore, while net profit slipped 3% to ₹91.4 crore.
The company's order book stood at ₹5,005 crore at the end of FY26. For FY27, it has guided for revenue of ₹3,200 crore and EBITDA margins of 15-17%.
During the post-results call, the management said commissioning of its Changodar/Moraiya plant has been deferred to Q2-Q3FY27.
Shares of Transformers and Rectifiers (India) Ltd. were trading 4.91% higher at ₹349.15 on the NSE at 2:59 p.m. IST on Monday.
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