Transformers And Rectifiers (india) Limited · NSE:TARIL
Transformers And Rectifiers (india) — Q1 FY27 Earnings Presentation
36 slides from Transformers And Rectifiers (india)'s earnings presentation, Jul 20, 2026
Slide 1: Exchange filing cover letter - Investor Presentation Q1 2026-27
Date: 20th July, 2026 Ref: TARIL/SECT/2026-27/NSE-BSE/COMPL/028 t21ril To, To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra - Kurla Complex, Mumbai - 400 001 Bandra (E), Mumbai - 400 051 Security Code : 532928 Trad
Slide 2: Investor Presentation Q1FY27
t21r· Transformers Transformers andand Rectifiers (India)(India) Rectifiers LimitedLimited INVESTOR INVESTOR PRESENTATION PRESENTATION Q1FY27| I 20 Q1FY27 20 July July2026 2026 REENGINEERING THE FUTURE OF~ POWE R ISO 9001: 2015, ISO 14001: 2015 ISO 45001: 2018 Certified Company
Slide 3: Safe Harbor
Safe SafeHarbor Harbor tLtri This presentation has been prepared by Transformers and Rectifiers (India) Limited solely to provide information about the Company to its stakeholders. No representation or warranty, express or implied is made as to, and no reliance should be placed on, the fairness, acc
Slide 4: Table of Content
Table Tableofof Content Content Overview of Q1FY27 Investment Annexures TARIL Update Case Industry Tailwinds, Financial Performance, Business Model, Product Operational Metrics and Portfolio, Manufacturing Recent Developments Base to Drive Sustainable Growth 3 3
Slide 5: Overview of TARIL
OVERVIEW OF TARIL
Slide 6: Leading Indian manufacturer of Power, Distribution & Specialty Transformers and Reactors
Leading LeadingIndian manufacturer Indian of Power, manufacturer Distribution of Power, & Specialty Distribution & Specialty Transformers Transformers andand Reactors Reactors tLtri ▪ Most preferred Indian Brand due to its designing expertise, technology know how and a legacy of 4 decades of operati
Slide 7: Q1FY27 Update
Q1FY27 Q1FY27 UPDATE UPDATE Financial FinancialPerformance, Performance, Operational OperationalMetrics andand Metrics Recent RecentDevelopments Developments
Slide 8: Q1FY27 Standalone Financial Highlights
Q1FY27 Standalone Financial Highlights (₹. Cr) tLJrill Revenue from Operations EBITDA & EBITDA Margin* 18.9% 15.5% 15.6% 140 19.0% 17.0% 752 120 t 15.0% 100 117 13.0% 559 97 11.0% 511 80 87 9.0% 10% YoY 60 10% YoY 7.0% 40 5.0% ▪ Revenue grew by 10% YoY, though QoQ 3.0% 20 1.0% revenue growth was imp
Slide 9: Q1FY27 Consolidated Financial Highlights
Q1FY27 Consolidated Financial Highlights (₹. Cr) tLtri Revenue from Operations EBITDA & EBITDA Margin* 20.5% 19.2% 160 18.0% 22.0% 140 783 t 120 141 17.0% 110 t 100 109 12.0% 572 80 529 8% YoY 60 7.0% 40 1% YoY 2.0% 20 - -3.0% Q1FY26 Q4FY26 Q1FY27 Q1FY26 Q4FY26 Q1FY27 PAT & PAT Margin EPS 12.8% 11.6
Slide 10: Q1FY27: Operational Metrics & Updates
Q1FY27: Q1FY27:Operational OperationalMetrics & Updates Metrics & Updates tLtri ₹2,114 crore New Order Inflow during the Quarter Major Orders Received: ₹6,630 crore ▪ Ultra Mega Order from PGCIL of above Un-executed Order Book Rs. 1000 Crores for manufacturing of ₹23,000 crore Order Book Growth tran
Slide 11: Transforming Scale into Profitable Growth
Transforming Transforming Scale intointo Scale Profitable Growth Profitable Growth Standalone Standalone 5Y SYCAGR CAGR Revenue Revenue27%, 27%,EBIDTA EBIDTA 38 %, PAT 38%, PAT101% 101% tLtri Revenue From Operations EBITDA & EBITDA Margin* 16.2% 400 15.4% 18.0% 2,395 350 16.0% 1,950 300 10.1% 10.1%
Slide 12: Transforming Financial Strength into Sustainable Shareholder Value Creation
Transforming Transforming Financial Strength Financial into Sustainable Strength Shareholder into Sustainable Value Shareholder Value Creation Creation tLtri Consistent improvement in return metrics reinforces earnings quality, efficient use of capital Return on Capital Employed Return on Equity 15.
Slide 13: MD & CEO Comment on Q1FY27
MD MD & & CEO CEOComment Commenton Q1FY27 on Q1FY27 tLtri ▪ During Q1FY27, delivered 10% growth in revenue, 218% in Order Inflow and 26% in Oder Book. ▪ QoQ Revenue growth remained impacted during Q1 FY27 due to comparatively lower capacity utilization at Changodar plant, as on-going expansion activ
Slide 14: Investment Case
INVESTMENT INVESTMENT CASE CASE Industry IndustryTailwinds, Tailwinds,Business Model, Business Model, Product ProductPortfolio, Manufacturing Portfolio, Manufacturing Base BasetotoDrive DriveSustainable Growth Sustainable Growth
Slide 15: Investment Case
Investment InvestmentCase Case tLtri Play on Power & T&D Capex Cycle 1 Beneficiary of strong demand from renewables, grid expansion, electrification & infra spend Strong opportunity from renewables, HVDC, exports & industrial capex 2 Shift to High-Voltage & Niche Products Increasing mix of EHV trans
Slide 16: Global Transformer Market Set to Double Driven by Grid Modernization & Energy Transition
Global GlobalTransformer TransformerMarket Set to Market Double Set DrivenDriven to Double by Grid by Grid Modernization Modernization && Energy Transition Energy Transition tLtri $68BN $137BN 6.6% CAGR +$65B Global45+ YearsTransformer of Legacy ₹3,210 Cr Project Market 9M FY26 size by Revenue 130+
Slide 17: India's Growth Opportunity Driven by Energy Transition & Grid Expansion
India’s India'sGrowth GrowthOpportunity OpportunityDriven by Energy Driven by Energy Transition Transition & Grid Grid Expansion Expansion tLtri India Transformer Market Size in ▪ India is one of the fastest-growing transformer markets globally USD Bn ▪ India transformer market projected at ~$5–5.6B
Slide 18: Industry leader in manufacturing wide range of high voltage Transformers
Industry Industryleader in manufacturing leader wide wide in manufacturing range range of highof voltage high voltage Transformers Transformers tLtri Power Shunt & Series Distribution Furnace Rectifier Specialty Transformer Reactors Transformer Transformer Transformer Transformer Upto 1000 MVA, Up t
Slide 19: TARIL's Expertise
TARIL’s TARIL'sEXPERTISE EXPERTISE tLtri ▪ Comprehensive Product Portfolio: Transformer solutions spanning 33 kV to 1,200 kV, supported by a robust manufacturing capacity of 75,000+ MVA. ▪ High-Voltage & Special Application Expertise: Proven capability in manufacturing ultra-high voltage transformer
Slide 20: Preferred Brand for its Customized, Niche Transformers
2 Preferred PreferredBrand forfor Brand its Customized, Niche Transformers its Customized, Niche Transformers tLtri 156 MVA single Magnum Opus largest furnace duty 333 MVA, 1200 kV auto transformer TARIL transformer dispatched ever installed at to National Test Station Novorross Steel, BINA India th
Slide 21: Order Book supported by pent up Industry Demand
Order OrderBook Booksupported by pent supported up Industry by pent Demand up Industry Demand 3 Un -executed OBOB Un-executed as as on on Q1FY27 Rs.6,630 Q1FY27 Rs.6,630 tLtri Product-wise Order Book (₹. Cr) L 1,148 1,499 2,582 5,132 5,005 6,630 .. ▪ Majority of the orders i.e. 80% are from power tr
Slide 22: Transformers Demand with application in varied Industries
3 Transformers Transformers Demand withwith Demand application in varied application Industries in varied Industries tLtri Distribution Petrochemical Pharmaceutical Power Transmission Green Energy Railways Paper and Pulp Cement Metal Processing Mining Hospital 21
Slide 23: Supplying to Esteemed Customers Domestically & Globally
4 Supplying Supplying toto Esteemed Customers Esteemed Domestically Customers & Globally Domestically & Globally tLtri adani AVAADA JINDII ~ STEEL & POWER ftw l<tC [~f:rg] ' ~) JINDAL SAW LTD. ~ •-j5•141tfai '1 Qlcli!fcils t., Re New - fOI U J • ►l lOtu1,o .. ~ POWERGRID I{ li a n cc ////Ster lite D
Slide 24: Presence in 40+ Countries Globally
4 Presence Presence in in 40+ Countries 40+ Globally Countries Globally tLtri EUROPE 18,000+ Transformer ▪ Belgium ▪ France Installations Worldwide ▪ Germany ▪ Italy ASIA ▪ Turkey ▪ Azerbaijan ▪ Malaysia ▪ United AFRICA ▪ Bangladesh ▪ Nepal ▪ ▪ Congo Ethiopia ..l Kingdom ▪ ▪ ▪ Bhutan India Indonesia
Slide 25: Integrated Manufacturing Facility
5 Integrated IntegratedManufacturing ManufacturingFacility Facility 3 FACTORIES, 6 SUBSIDIARIES, 1700+PEOPLE, 40+YEARS OF EXPERIENCE tLtri 57% 27% 100% Moraiya Changodar Odhav Area 42,500 sq. mt. 35,000 sq. mt. 2,000 sq.mt. Capacity 40,000 MVA p.a. 35,000 MVA p.a. 2,000 MVA p.a. ▪ Large Power Transf
Slide 26: Backward Integration help achieve Operational Efficiency
Backward Backward Integration helphelp Integration achieve Operational achieve Efficiency Operational Efficiency tLtri Existing products In total they manufactured in- comprise between house by TARIL Radiators Transformer Tanks upto 765 kV OIP Bushings upto 245 KV 10%-15% of the total include: Fabri
Slide 27: Annexures
Annexures
Slide 28: Profit & Loss Statement – Q1FY27 (Standalone)
Profit Profit&&Loss LossStatement – Q1FY27 (Standalone) Statement-Q1FY27 (Standalone) tLtri Particulars (₹ Cr) Q1FY27 Q1FY26 YoY (%) Q4FY26 QoQ (%) ' FY26 FY25 YoY (%) Revenue from Operations 559.28 510.53 10% 752.33 -26% 2395.49 1950.14 23% Other Income 14.28 16.38 22.42 56.85 32.78 Total Income 57
Slide 29: Profit & Loss Statement – Q1FY27 (Consolidated)
Profit Profit&&Loss LossStatement – Q1FY27 (Consolidated) Statement-Q1FY27 (Consolidated) tLtri Particulars (₹ Cr) Q1FY27 Q1FY26 YoY (%) Q4FY26 QoQ (%) ' FY26 FY25 YoY (%) Revenue from Operations 572.34 529.33 8% 782.67 -27% 2,508.80 2,019.39 24% Other Income 16.31 20.31 22.37 60.85 31.70 Total Inco
Slide 30: Balance Sheet (Standalone)
Balance BalanceSheet Sheet(Standalone) (Standalone) tLtri Particulars (₹ Cr) FY25 FY26 Particulars (₹ Cr) FY25 FY26 Assets Equity Equity share capital 30.02 30.02 Fixed Assets 127.85 126.30 Tangible Net worth 1,180.40 1,410.17 Capital work-in-progress 61.63 137.80 Liabilities Non-current liabilities
Slide 31: Balance Sheet (Consolidated)
Balance BalanceSheet Sheet(Consolidated) (Consolidated) tLtri Particulars (₹ Cr) FY25 FY26 Particulars (₹ Cr) FY25 FY26 Assets Equity Equity share capital 30.02 30.02 Fixed Assets 231.97 230.48 Tangible Net worth 1,272.36 1,542.99 Capital work-in-progress 61.76 138.31 Liabilities Non-current liabili
Slide 32: Management Team
Management Management Team Team Technocrat Technocrat Promoters supported Promoters by Qualified supported and Professional by Qualified Senior Management and Professional Senior Management tLtri Mr. Jitendra Mamtora Mr. Satyen Mamtora Chairman & Founder Managing Director & CEO Bachelor’s in Electri
Slide 33: Management Team
Management Management Team Team Technocrat Technocrat Promoters supported Promoters by Qualified supported and Professional by Qualified Senior Management and Professional Senior Management tLtri Praveen Srivastava Mehul Shah Mukesh Jha Bhavin Vahia Anirudh Jhala Chief Marketing Officer Chief Financ
Slide 34: TARIL's Journey since Inception
TARIL’s TARIL'sJourney since Journey Inception since Inception tLtri 1994-2006 2011-2015 2023 1980-1993 Incorporated TARIL and began manufacturing upto 110 kV class Strategic alliance with ZTR Raised ₹ 120 crore by way transformers at Changodar plant Ukraine for 765 kV of preferential issue on Mr. J
Slide 35: Post Result Earnings Conference Call Details
Post PostResult ResultEarnings Conference Earnings Call Details Conference Call Details tLtri Earnings Conference Call Details Q1FY27 Earnings Conference Call D A T E & T I ME P R I MA RY DI A L -IN N U MB E R Tuesday, July 21, 2026 +91 22 6280 1107 16:00 HRS · IST +91 22 7115 8008 P R E - R E GIS T
Slide 36: Thank you
MEHUL SHAH | CFO t21ri Thank E: mehul.shah@transformerindia.com ARPIT MUNDRA & KRISHNA PATEL | EY IR you E: arpit.mundra@in.ey.com E: krishna.Patel2@in.ey.com TRANSFORMERS AND RECTIFIERS (INDIA) LIMITED (ISIN: INE763I01026; NSE: TARIL; BSE: 532928) REGISTERED & CORPORATE OFFICE: Survey No. 427 P/3-4
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