Transformers & Rectifiers India Shares Price Plunge 20% After Q2 Profit Falls 20% YoY

Ahmedabad, November 10, 2025: The share price of Transformers & Rectifiers (India) Limited (NSE: TRIL) hit the lower circuit on Monday, plunging 19.99% to close at ₹313.55, after the company reported a 20% year-on-year decline in its Q2 FY26 profit, missing market expectations.

The sharp fall came amid heavy selling pressure following the weaker-than-expected quarterly results. The stock touched its 52-week low of ₹313.55 during the session, significantly below its 52-week high of ₹648.90, recorded on January 8, 2025. The company’s market capitalisation stood at ₹9,411 crore, with a traded volume of 26.5 lakh shares and a turnover of ₹83.58 crore on the NSE.

Transformers & Rectifiers (India) Limited is a power distribution, furnace, and power utility transformers manufacturer company, founded in 1994 and listed since 2007.

Quarterly Performance (Consolidated)

In Q2 FY26, Transformers & Rectifiers (India) Limited reported a 19% year-on-year decline in net profit to ₹37.45 crore, primarily due to higher operating and employee expenses, while revenue remained steady at ₹460.03 crore. The company’s EBITDA fell 19% to ₹65.44 crore, with margins contracting by 330 basis points to 13.81%. A sharp 116% rise in employee costs weighed heavily on profitability and overall operational efficiency.

However, performance for the first half of FY26 painted a stronger picture. Revenue rose 26% YoY to ₹989.36 crore, while net profit surged 58% to ₹105 crore, reflecting continued business momentum despite a weak second quarter.

The Q2 performance exerted pressure on investor sentiment, as margin compression and rising costs led to heavy selling. Despite robust H1 growth, the stock faced a sharp correction as investors reacted to short-term profitability concerns.

REF: https://nsearchives.nseindia.com/corporate/TRIL_09112025211855_InvestorPresentationBMRevised.pdf

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