Transformers & Rectifiers Q3 results: Net profit soars 35% YoY to ₹74 crore, revenue rises 32%

It had logged a profit of ₹54.73 crore in the corresponding period a year ago, the company said in a regulatory filing. The rise in profit was driven by operational efficiency and process optimisation.

It witnessed a 31.71% annual increase in its revenue from operations to ₹736.76 crore during the quarter under review, compared to ₹559.36 crore in the December quarter of the 2024-25 fiscal year (Q3FY25).

At an operational level, the high-voltage transformer manufacturer's EBITDA (earnings before interest, tax, depreciation and amortisation), also known as operating profit, stood at ₹129.24 crore for Q3FY26, marking a 38% YoY jump from ₹93.75 crore in the year-ago period.

During the reporting quarter, its EBITDA margin expanded annually by 78 basis points (bps) to 17.54%, in comparison to 16.76% in the third quarter of FY25.

In the December quarter of the current fiscal, it bagged new orders worth ₹665 crore, with strong growth in the order pipeline in the utilities, infrastructure, and industrial sectors.

As of December 31, 2025, the Hyderabad-headquartered company's order book stood at ₹5,450 crore.

Its revenue target for the current financial year is ₹ 2,600 crore. In FY25, the firm has clocked ₹1,950.14 crore in consolidated revenue from operations.

New CEO appointed

The board of directors of Transformers and Rectifiers approved the appointment of Satyen J. Mamtora as the Chief Executive Officer (CEO) of the company with effect from January 8, 2026.

With this, Mamtora, who previously held the position of Managing Director (MD), will hold the designation of MD and CEO of Transformers and Rectifiers.

The board of directors also accepted the resignation of Mukul Srivastava as the CEO, which came into effect from the close of business hours on January 7, 2026.

Stock performance

Shares of Transformers and Rectifiers closed 8.69% lower at ₹293.30 per unit on the National Stock Exchange (NSE). Intra-day, the stock fell as much as 11.58% to a low of ₹284 apiece.

The scrip has declined nearly 5% in the last week but gained more than 22% over the month. On a year-to-date basis, it has fallen approximately 5%.

The stock had hit a year’s high of ₹648.9 per share on January 8, 2025, while it reached a 52-week low of ₹230.10 per equity share on December 11, 2025.

Transformers and Rectifiers’ total market capitalisation stood at ₹8,803.86 crore, as of January 8, 2026, according to data on the NSE.