TARIL Q1 results: Net profit falls 9% YoY to ₹61.5 crore, revenue moderates; key details to know

In the corresponding period of the previous fiscal year, the company had clocked a profit of ₹67.35 crore, according to a regulatory filing.

Sequentially, its profit dropped 31.09% quarter-on-quarter (QoQ) from ₹89.28 crore in the preceding quarter.

The company’s revenue from operations rose 8.12% YoY to ₹572.34 crore during the quarter under review, compared with ₹529.33 crore in the first quarter of the 2025-26 fiscal year (Q1 FY26).

However, its revenue declined 26.87% QoQ from ₹782.67 crore in the March quarter of FY26.

Its revenue growth during the quarter was moderated by lower capacity utilisation at the Changodar manufacturing facility owing to ongoing expansion activities. The expansion, TARIL stated, is expected to be completed by August 2026, following which the plant is anticipated to operate at improved utilisation levels.

The Ahmedabad-headquartered firm’s EBITDA (earnings before interest, tax, depreciation and amortisation), also known as operating profit, stood at ₹110 crore in Q1 FY27, marking a marginal YoY rise from ₹109 crore in the corresponding quarter of the previous fiscal year.

Its EBITDA margin contracted to 19.2% during the quarter, from 20.5% in the June quarter of the previous fiscal year.

TARIL’s new order Inflow in the quarter ended June 30, 2026, was ₹2,114 crore, up 218% YoY.

It also posted its record unexecuted order book of ₹6,630 crore, marking a 26% YoY jump. This provides healthy revenue visibility, with the order book being executable over the coming 18-24 months.

Furthermore, it has a robust enquiry pipeline of approximately ₹23,000 crore, with a historic win ratio in the range of 10-15%.

The company delivered steady revenue growth during the quarter while achieving record order inflows and its highest-ever unexecuted order book, reflecting “sustained customer demand and providing strong visibility for future growth”.

Supported by continued investments in manufacturing capacity and favourable industry tailwinds, TARIL remains well positioned to capitalise on India's expanding power infrastructure opportunities, the company said.

“The company continues to make steady progress on its strategic growth initiatives. Expansion of the Changodar manufacturing facility with an investment of approximately ₹150 crore, backward integration projects worth ₹900–1,000 crore, and the development of three greenfield manufacturing facilities at Chiyada are progressing as planned,” the filing read, adding that these initiatives will strengthen its manufacturing capabilities, enhance operational efficiencies and support future growth.

“Together these investments will strengthen manufacturing capabilities across critical transformer components, improve operational efficiencies and support the Company's long-term growth strategy,” TARIL said.

What the CEO said

Commenting on the development, Satyen J. Mamtora, Managing Director & CEO of TARIL, said: “We have begun FY27 on a steady footing, supported by healthy project execution and sustained demand across the power sector. Our record order book and strong order inflows reflect the trust our customers continue to place in TARIL and provide us with strong visibility for the coming quarters.”

He further stated that while the ongoing expansion at the Changodar facility temporarily moderated revenue growth during the quarter, it is a strategic investment that will significantly enhance the company’s manufacturing capabilities and support future demand.

“With capacity expansion progressing as planned, a healthy enquiry pipeline and favourable industry fundamentals, we remain confident of sustaining our growth momentum. As India advances towards its Viksit Bharat 2047 vision, continued investments in transmission infrastructure will create significant opportunities, and TARIL remains committed to supporting this transformation through technology, manufacturing excellence and disciplined execution,” Mamtora added.

Transformers And Rectifiers (India) Ltd has a total market capitalisation of ₹10,019.54 crore as of July 20, 2026, according to data on the NSE.