India · Delayed Price · Currency is INR Transformers and Rectifiers (India) Earnings Call Transcripts
Fiscal Year 2026
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Record revenue and profitability achieved, driven by operational efficiency, selective order intake, and capacity expansion. Backward integration and entry into HVDC transformers position for margin improvement and future growth, with FY27 revenue targeted at INR 3,250 crore.
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Q3 FY26 saw robust revenue and margin growth, driven by improved execution, cost controls, and capacity utilization. Strategic backward integration and capacity expansion are on track, supporting long-term growth and margin sustainability, with a strong order book and positive cash flow.
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Q2 FY 2026 saw lower revenue and margins due to raw material shortages and project delays, but strong order inflow and capacity expansions are expected to drive a robust H2 and 25% full-year revenue growth. No current exposure to World Bank-funded projects; backward integration to boost margins next year.
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Q1 FY26 delivered strong revenue and profit growth, with a robust order book and margin expansion. Capacity and export initiatives are progressing, supporting a $1 billion revenue target in three years. Margins and liquidity remain strong, with high industry demand and ongoing operational improvements.
Fiscal Year 2025
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FY 2025 saw record revenue, profitability, and operational milestones, with robust order inflow and a strong order book ensuring revenue visibility. Margin expansion, backward integration, and capacity growth position the company to achieve its $1 billion revenue target in three years.
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Q3 FY25 saw 49% revenue growth and 276% PAT growth year-over-year, with a robust order book and strong margin performance. Backward integration and capacity expansion are set to drive further margin gains, with a $1 billion annual revenue target in 3-4 years.
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Q1 FY25 delivered record revenue and profit growth, with a robust order book and strong order inflow. Guidance for FY25 and the next three years remains unchanged, with major capacity expansion and backward integration underway to support growth and margin improvement.
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Q1 FY25 saw record revenue and profit growth, a robust order book, and a successful INR 500 crore QIP. Guidance for FY25 is maintained at INR 2,000 crore revenue and 15% margins, with major capacity expansion and export growth planned.