Shares of Transformers and Rectifiers (India) Limited fell approximately 9% on Wednesday, April 22, after the company reported a sharp contraction in operating profitability for Q4 FY26 despite strong top-line growth.
The stock opened at ₹298.00 against its previous close of ₹333.30, touching a session high of ₹307.55 and a low of ₹295.00. The 52-week range stands between ₹224.05 and ₹594.00.
According to the company’s consolidated Q4 FY26 results, revenue grew 15.7% year on year to ₹783 crore from ₹676 crore in Q4 FY25. However, EBITDA declined 9.5% to ₹118.47 crore from ₹130.92 crore in the year-ago period, with EBITDA margins contracting sharply by 430 basis points to 15.1% from 19.4%. Net profit fell 3.1% to ₹91.3 crore from ₹94.19 crore in Q4 FY25.
The market’s negative reaction reflects concern over the significant margin compression, with operating profitability declining despite a meaningful increase in revenue, pointing to cost pressures within the business during the quarter.
Transformers and Rectifiers (India) Limited is an Ahmedabad-based manufacturer of power and distribution transformers, supplying to utilities, industrial clients, and the railway sector across India and international markets.
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