Transformers and Rectifiers (India) Limited (IN:TARIL)
:TARIL
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Transformers and Rectifiers (India) Limited
(TARIL)
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Rating:64Neutral
Price Target:
₹383.00
▲(19.22% Upside)
Action:Reiterated
Date:06/20/26
The score is mainly constrained by weak cash-flow conversion (negative operating and free cash flow) despite strong revenue growth and improved profitability/leverage. Technicals are supportive with a clear uptrend, while valuation is less favorable due to a higher P/E and only modest dividend yield.
Positive Factors
Revenue scaling
Sustained revenue growth over multiple years indicates successful market penetration and strong order wins in power equipment. A ~3.4x top-line expansion supports economies of scale, strengthens supplier leverage and provides a broader base to absorb project variability over the medium term.
Negative Factors
Weak cash conversion
Consistent negative operating and free cash flow despite reported profits signals working-capital strain or heavy capex. If cash conversion remains weak, the company will face ongoing liquidity and funding needs, increasing reliance on external financing and raising execution risk on projects.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue scaling
Sustained revenue growth over multiple years indicates successful market penetration and strong order wins in power equipment. A ~3.4x top-line expansion supports economies of scale, strengthens supplier leverage and provides a broader base to absorb project variability over the medium term.
Read all positive factors
Transformers and Rectifiers (India) Limited (TARIL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹107.37B
Dividend Yield0.07%
Average Volume (3M)64.04K
Price to Earnings (P/E)34.6
Beta (1Y)1.38
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)11.03
Revenue Forecast (FY)₹32.18B
Transformers and Rectifiers (India) Limited Business Overview & Revenue Model
Company Description
Transformers and Rectifiers (India) Limited (TRIL), along with its affiliated companies, is a prominent Indian manufacturer and seller of various transformer types. Their product portfolio encompasses power transformers, which include models for g...
How the Company Makes Money
TARIL primarily makes money by engineering, manufacturing, and selling transformer products and related power equipment to customers in the power and industrial ecosystem. Revenue is typically realized through (1) product sales executed against cu...
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
314.85
Positive
294.88
Positive
340.78
Positive
Market Momentum
5.84
Negative
68.48
Neutral
77.63
Neutral
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 318.23, above the 50-day MA of 314.85, and below the 200-day MA of 340.78, indicating a bullish trend. The MACD of 5.84 indicates Negative momentum. The RSI at 68.48 is Neutral, neither overbought nor oversold. The STOCH value of 77.63 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
71 Outperform | ₹28.25B | 29.21 | ― | ― | 27.84% | 45.24% | |
68 Neutral | ₹103.54B | 33.23 | ― | 1.27% | 11.35% | -6.15% | |
64 Neutral | ₹107.37B | 34.63 | ― | 0.07% | 24.24% | 23.80% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | ₹318.68B | 146.16 | ― | ― | 9.63% | -20.64% | |
61 Neutral | ₹39.54B | 88.26 | ― | 0.13% | 52.45% | 21.13% | |
58 Neutral | ₹31.62B | 26.28 | ― | 1.27% | 19.57% | -10.15% |
* Industrials Sector Average
IN:TARIL
Transformers and Rectifiers (India) Limited
357.70
-134.30
-27.30%
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529.43
85.28%
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2,659.70
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19.51%
Transformers and Rectifiers (India) Limited Corporate Events
Transformers and Rectifiers (India) Wins Rs. 228 Crore GETCO Order
May 22, 2026
Transformers and Rectifiers (India) Limited has secured a domestic order worth Rs. 228.26 crore from Gujarat Energy Transmission Corporation Limited to manufacture six transformers and two reactors, with delivery scheduled on or before August 2028...
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...
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.