Transformers and Rectifiers (India) Limited (IN:TARIL)
:TARIL
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Transformers and Rectifiers (India) Limited
(TARIL)
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Rating:60Neutral
Price Target:
₹325.00
▲(1.17% Upside)
Action:ReiteratedDate:04/23/26
The score is held back primarily by weak cash-flow conversion (negative operating and free cash flow in FY2026) despite strong revenue growth and improved profitability/ROE with better leverage. Technicals are mixed (short-term strength vs weaker long-term trend and elevated stochastic), while valuation appears moderately rich with only a small dividend yield.
Positive Factors
Revenue Growth
Sustained, large percentage revenue growth to ₹20.19bn reflects meaningful market share gains and scale in project wins. Over the next 2-6 months this larger top line supports fixed-cost absorption, improves negotiating leverage with suppliers, and underpins investment capacity.
Negative Factors
Negative Free Cash Flow
Persistent negative free cash flow means capital expenditure and working-capital needs outpace operating cash inflows. Over a 2-6 month horizon this can strain liquidity, force external funding or defer maintenance, and elevate execution risk on new contracts if not corrected.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained, large percentage revenue growth to ₹20.19bn reflects meaningful market share gains and scale in project wins. Over the next 2-6 months this larger top line supports fixed-cost absorption, improves negotiating leverage with suppliers, and underpins investment capacity.
Read all positive factors
Transformers and Rectifiers (India) Limited (TARIL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹97.49B
Dividend Yield0.07%
Average Volume (3M)64.04K
Price to Earnings (P/E)28.0
Beta (1Y)1.30
Revenue Growth24.24%
EPS Growth23.80%
CountryIN
Employees553
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)4.27
Shares Outstanding300,165,830
10 Day Avg. Volume37,462
30 Day Avg. Volume64,039
Financial Highlights & Ratios
PEG Ratio1.09
Price to Book (P/B)4.89
Price to Sales (P/S)2.96
P/FCF Ratio-28.36
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)12.07
Revenue Forecast (FY)₹35.51B
Transformers and Rectifiers (India) Limited Business Overview & Revenue Model
Company Description
Transformers and Rectifiers (India) Limited, together with its subsidiaries, manufactures and sells transformers in India. The company provides power transformers, such as generator transformers, unit and station auxiliary transformers, interconne...
How the Company Makes Money
TARIL primarily makes money by selling engineered electrical equipment—especially transformers—under customer contracts and purchase orders. Revenue is recognized from (a) manufacturing and sale of transformers supplied to electricity utilities an...
Transformers and Rectifiers (India) Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 11.37B | 25.09B | 20.19B | 12.95B | 13.73B | 11.45B |
| Gross Profit | 3.81B | 6.78B | 6.35B | 3.60B | 2.78B | 2.05B |
| EBITDA | 2.07B | 3.83B | 3.62B | 1.40B | 1.30B | 734.01M |
| Net Income | 1.28B | 2.64B | 2.14B | 444.97M | 407.38M | 139.87M |
Balance Sheet | ||||||
| Total Assets | 23.90B | 26.66B | 21.85B | 11.68B | 11.86B | 11.09B |
| Cash, Cash Equivalents and Short-Term Investments | 4.02B | 2.92B | 4.09B | 53.34M | 52.49M | 122.47M |
| Total Debt | 3.66B | 4.57B | 2.83B | 2.56B | 3.30B | 3.25B |
| Total Liabilities | 10.21B | 11.23B | 9.13B | 6.05B | 7.85B | 7.46B |
| Stockholders Equity | 13.45B | 15.15B | 12.52B | 5.54B | 3.93B | 3.57B |
Cash Flow | ||||||
| Free Cash Flow | -716.86M | -2.61B | -782.20M | 133.09M | 181.06M | -66.28M |
| Operating Cash Flow | 1.66B | -1.52B | 1.11B | 291.43M | 283.89M | 18.92M |
| Investing Cash Flow | -2.12B | -119.70M | -4.72B | -224.38M | 91.62M | -80.11M |
| Financing Cash Flow | 828.60M | 1.67B | 5.09B | -98.47M | -448.79M | 172.13M |
Transformers and Rectifiers (India) Limited Technical Analysis
Positive
321.25
Price Trends
283.31
Positive
279.14
Positive
380.55
Negative
Market Momentum
6.87
Negative
64.86
Neutral
93.25
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:TARIL, the sentiment is Positive. The current price of 321.25 is above the 20-day moving average (MA) of 283.25, above the 50-day MA of 283.31, and below the 200-day MA of 380.55, indicating a neutral trend. The MACD of 6.87 indicates Negative momentum. The RSI at 64.86 is Neutral, neither overbought nor oversold. The STOCH value of 93.25 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:TARIL.
Transformers and Rectifiers (India) Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹30.06B | 16.63 | ― | ― | 28.98% | 31.20% | |
70 Outperform | ₹31.53B | 30.72 | ― | 1.27% | 13.68% | -0.58% | |
68 Neutral | ₹96.44B | 28.77 | ― | 1.27% | 11.35% | -6.15% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | ₹97.49B | 28.04 | ― | 0.07% | 24.24% | 23.80% | |
58 Neutral | ₹32.14B | 49.83 | ― | 0.13% | 45.47% | 56.43% | |
58 Neutral | ₹8.37B | 41.93 | ― | ― | -4.86% | -18.14% |
* Industrials Sector Average
IN:TARIL
Transformers and Rectifiers (India) Limited
324.80
-177.85
-35.38%
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-13.12%
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432.03
85.84%
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16.34%
Transformers and Rectifiers (India) Limited Corporate Events
Transformers and Rectifiers (India) Files QIP Funds Monitoring Report for March Quarter
Apr 21, 2026
Transformers and Rectifiers (India) Limited has submitted its Monitoring Agency Report for the quarter ended 31 March 2026, detailing the oversight of funds raised through its Qualified Institutions Placement. The report, reviewed by the company&#...
Transformers and Rectifiers Schedules FY26 Earnings Call Hosted by Nuvama
Apr 18, 2026
Transformers and Rectifiers (India) Limited has scheduled an earnings conference call to discuss its audited standalone and consolidated financial results for the quarter and financial year ended 31 March 2026. The call, organized under SEBI discl...
Transformers and Rectifiers (India) Closes Trading Window Ahead of FY26 Results
Mar 26, 2026
Transformers and Rectifiers (India) Limited has announced that its trading window for dealing in the company’s securities will be closed from 1 April 2026 until 48 hours after the announcement of its audited standalone and consolidated finan...
Transformers and Rectifiers (India) Says Trading Volume Surge Is Market-Driven
Feb 10, 2026
Transformers and Rectifiers (India) Limited has clarified that it has been complying with all regulatory disclosure norms, regularly informing stock exchanges of any events or information that could materially impact its operations or share price....
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.