Transformers & Rectifiers Bags PGCIL Ultra-Mega Order; Shares Jump 5%

Mumbai, June 30: Transformers and Rectifiers (India) Ltd. (TARIL) on Tuesday said it has received multiple Notifications of Award (NOAs) from Power Grid Corporation of India Ltd. (PGCIL) for the supply of power transformers, according to an exchange filing.

The company said the orders have been classified as “Ultra Mega Orders”, a category that applies to contracts valued at ₹1,000 crore and above, excluding GST, as per its internal project classification. While the company did not disclose the exact value of the awards, the classification indicates that the cumulative order size exceeds the ₹1,000 crore threshold.

Under the contract, TARIL will manufacture transformers of various ratings along with associated works. The company said execution will be carried out in accordance with the terms and conditions laid down in the Notifications of Award.

The order has been awarded by the state-owned transmission utility PGCIL and is scheduled to be executed over the next 30 months. The company also clarified that neither its promoters nor promoter group entities have any interest in the awarding authority and that the transaction does not qualify as a related-party transaction.

The latest order adds to TARIL’s growing order book at a time when investments in India’s power transmission network continue to accelerate to support renewable energy integration and grid expansion.

Stock Market Snapshot

Investor sentiment turned positive following the announcement, with the TARIL share price witnessing strong buying interest during the afternoon session.

As of 3:13 PM IST on June 30, 2026, shares of Transformers and Rectifiers (India) were trading at ₹349.75, up ₹16.95, or 5.09%, on the NSE.

Market participants typically view large order wins from PGCIL as a positive indicator because they provide long-term revenue visibility and reinforce a company’s standing in the domestic power equipment market.

Company Background

Transformers and Rectifiers (India) is one of India’s established manufacturers of power transformers and reactor equipment, supplying products to utilities, transmission companies and industrial customers.

The company manufactures transformers across multiple voltage classes and has benefited from rising investments in power transmission infrastructure, driven by increasing electricity demand and renewable energy capacity additions. PGCIL remains one of the country’s largest buyers of transmission equipment, making its contracts strategically significant for equipment manufacturers.

Conclusion

The latest ultra-mega order strengthens Transformers and Rectifiers’ order pipeline and underscores its position as a key supplier to India’s transmission sector. Although the company has not disclosed the exact contract value, the order classification signals that the cumulative award exceeds ₹1,000 crore. Investors will now watch execution progress over the next 30 months and whether additional large utility orders follow.

Source:

• https://www.nseindia.com/get-quote/equity/TARIL/Transformers-And-Rectifiers-(India)-Limited
• https://nsearchives.nseindia.com/corporate/TRIL_30062026142706_OrderPGCIL30062026.pdf