By BullScreen Editorial Team 
Transformers & Rectifiers (India) Ltd (TARIL) reported a mixed set of Q1 results 2027 on Monday, July 20, with consolidated net profit declining 8.66% year-on-year (YoY) to ₹61.52 crore. The company had reported a profit of ₹67.35 crore in the same quarter last year.
On a sequential basis, net profit fell 31.09% from ₹89.28 crore in the March quarter of FY26. Revenue from operations, however, increased 8.12% YoY to ₹572.34 crore from ₹529.33 crore. Compared with the previous quarter, revenue declined 26.87%.
TARIL said revenue growth was moderated by lower capacity utilisation at its Changodar manufacturing facility as expansion work continued. The ₹150 crore expansion is expected to be completed by August 2026, after which utilisation levels are expected to improve.
EBITDA stood at ₹110 crore, marginally higher than ₹109 crore a year earlier. However, the EBITDA margin narrowed to 19.2% from 20.5%.
The key positive from the TARIL Q1 results 2027 was the sharp rise in order activity. New order inflows surged 218% YoY to ₹2,114 crore, while the unexecuted order book reached a record ₹6,630 crore, up 26% YoY. The order book provides revenue visibility for the next 18–24 months. The company also has an enquiry pipeline of around ₹23,000 crore, with a historical win rate of 10–15%.
TARIL is also progressing with ₹900–1,000 crore of backward integration projects and three greenfield manufacturing facilities at Chiyada. With India’s power infrastructure spending supporting transformer demand, the company expects these investments to strengthen long-term growth.