Transformers & Rectifiers (India) Ltd, founded in 1994 and headquartered in Ahmedabad, Gujarat, is a leading manufacturer of high-quality transformers for power generation, transmission, distribution, and industrial applications. Serving both domestic and international markets, including Canada, the UK, and the USA, the company has built a solid reputation for reliability and innovation. Its product offerings include power transformers essential for high-voltage power systems, distribution transformers for voltage reduction at consumer levels, and specialty transformers customized for unique applications like traction systems for railways, furnace transformers for metals industries, and inverter transformers for renewable energy. Additionally, the company produces rectifier transformers crucial in industries such as chemical processing, paper manufacturing, and metal smelting. Through its comprehensive range and commitment to quality, Transformers & Rectifiers (India) Ltd has become a trusted partner for power infrastructure solutions globally, catering to diverse sectors and adapting to industry-specific needs.
Recent News on Transformers & Rectifiers India Ltd
Transformers & Rectifiers India Ltd recently announced significant developments, securing new orders and experiencing notable market activity. The company won orders valued at ₹270 crore from major clients, including Adani Energy Solutions, Siemens, AMNS India, and the Jindal Group, with plans to fulfill these orders by the next financial year. These contracts reinforce the company’s strong position in the transformer manufacturing industry and its appeal among prominent corporations. Additionally, on October 14, 2024, the company’s shares surged, hitting the upper circuit following a substantial block deal worth ₹211 crore, involving the exchange of 27 lakh shares. This transaction highlights increased investor confidence in the company’s growth prospects and market
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | |
| Promoters + | 74.91% | 69.65% | 69.65% | 66.16% | 66.16% |
| FIIs + | 0.56% | 3.48% | 4.45% | 8.00% | 9.34% |
| DIIs + | 0.00% | 0.00% | 1.89% | 6.33% | 6.93% |
| Public + | 24.53% | 26.87% | 24.00% | 19.50% | 17.57% |
| No. of Shareholders | 54,118 | 61,972 | 64,977 | 86,041 | 90,218 |
The shareholding pattern of Transformers & Rectifiers India has shown significant shifts over the last year, reflecting changes in investor interest and promoter holdings. As of September 2023, promoters held a dominant 74.91% stake, but this declined to 66.16% by September 2024. Meanwhile, Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) have increased their stakes, with FIIs growing from 0.56% in September 2023 to 9.34% by September 2024, and DIIs rising from 0.00% to 6.93% over the same period. The public’s share, conversely, has decreased, moving from 24.53% to 17.57% as institutional investors took on larger shares. The number of shareholders has also expanded, from 54,118 in September 2023 to 90,218 by September 2024, indicating a broader base of ownership and growing interest in Transformers & Rectifiers India from both institutional and retail investors. These changes suggest strong institutional confidence and support for the company’s future prospects.
Below are the trading platforms that you can use to purchase Transformers & Rectifiers India shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| November 2024 | 990.15 | 861.00 |
| December 2024 | 1,000.06 | 869.61 |
As we approach November 2024, the stock price of Transformers & Rectifiers India is anticipated to peak at ₹990.15, with a projected minimum of ₹861.00. Moving into December 2024, expectations suggest a maximum price of ₹1,000.06 and a minimum of ₹869.61.
| When | Maximum Price | Minimum Price |
| January 2025 | 1,010.06 | 776.97 |
| February 2025 | 1,020.26 | 784.81 |
| March 2025 | 1,041.68 | 801.30 |
| April 2025 | 1,031.37 | 793.36 |
| May 2025 | 1,001.33 | 770.25 |
| June 2025 | 1,046.39 | 804.92 |
| July 2025 | 1,025.87 | 789.13 |
| August 2025 | 1,057.60 | 813.54 |
| September 2025 | 1,070.29 | 823.30 |
| October 2025 | 1,098.12 | 844.71 |
| November 2025 | 1,125.57 | 865.83 |
| December 2025 | 1,176.22 | 904.79 |
As we move into 2025, Transformers & Rectifiers India’s stock is expected to show steady growth. In January, prices may range between ₹776.97 and ₹1,010.06, gradually rising through the year. By March, it could reach ₹1,041.68 at the high and ₹801.30 at the low. The upward trend is likely to continue, with peaks of ₹1,070.29 in September and ₹1,098.12 in October. November might see a high of ₹1,125.57, and December could close the year with a maximum of ₹1,176.22 and a minimum of ₹904.79.
| When | Maximum Price | Minimum Price |
| January 2026 | 1,211.51 | 931.93 |
| February 2026 | 1,181.22 | 908.63 |
| March 2026 | 1,204.85 | 926.81 |
| April 2026 | 1,229.44 | 945.72 |
| May 2026 | 1,217.26 | 936.36 |
| June 2026 | 1,247.69 | 959.77 |
| July 2026 | 1,223.23 | 940.95 |
| August 2026 | 1,261.06 | 970.05 |
| September 2026 | 1,286.28 | 989.45 |
| October 2026 | 1,319.73 | 1,015.17 |
| November 2026 | 1,352.72 | 1,040.55 |
| December 2026 | 1,386.54 | 1,066.57 |
| When | Maximum Price | Minimum Price |
| January 2027 | 1,400.40 | 1,077.23 |
| February 2027 | 1,436.31 | 1,104.85 |
| March 2027 | 1,492.33 | 1,147.94 |
| April 2027 | 1,463.07 | 1,125.44 |
| May 2027 | 1,420.45 | 1,092.66 |
| June 2027 | 1,484.37 | 1,141.82 |
| July 2027 | 1,455.27 | 1,119.44 |
| August 2027 | 1,500.28 | 1,154.06 |
| September 2027 | 1,552.78 | 1,194.45 |
| October 2027 | 1,593.16 | 1,225.51 |
| November 2027 | 1,632.99 | 1,256.14 |
| December 2027 | 1,673.81 | 1,287.55 |
| When | Maximum Price | Minimum Price |
| January 2028 | 1,707.29 | 1,313.30 |
| February 2028 | 1,751.06 | 1,346.97 |
| March 2028 | 1,819.36 | 1,399.50 |
| April 2028 | 1,783.68 | 1,372.06 |
| May 2028 | 1,731.73 | 1,332.10 |
| June 2028 | 1,809.66 | 1,392.04 |
| July 2028 | 1,774.17 | 1,364.75 |
| August 2028 | 1,829.05 | 1,406.96 |
| September 2028 | 1,893.06 | 1,456.20 |
| October 2028 | 1,942.28 | 1,494.06 |
| November 2028 | 1,990.84 | 1,531.41 |
| December 2028 | 2,040.61 | 1,569.70 |
| When | Maximum Price | Minimum Price |
| January 2029 | 2,081.42 | 1,601.09 |
| February 2029 | 2,134.79 | 1,642.15 |
| March 2029 | 2,218.05 | 1,706.19 |
| April 2029 | 2,174.56 | 1,672.74 |
| May 2029 | 2,111.22 | 1,624.02 |
| June 2029 | 2,206.23 | 1,697.10 |
| July 2029 | 2,162.97 | 1,663.82 |
| August 2029 | 2,229.86 | 1,715.28 |
| September 2029 | 2,307.91 | 1,775.31 |
| October 2029 | 2,367.91 | 1,821.47 |
| November 2029 | 2,427.11 | 1,867.01 |
| December 2029 | 2,487.79 | 1,913.68 |
| When | Maximum Price | Minimum Price |
| January 2030 | 2,537.54 | 1,951.96 |
| February 2030 | 2,602.61 | 2,002.01 |
| March 2030 | 2,704.11 | 2,080.09 |
| April 2030 | 2,651.09 | 2,039.30 |
| May 2030 | 2,573.87 | 1,979.90 |
| June 2030 | 2,689.70 | 2,069.00 |
| July 2030 | 2,636.96 | 2,028.43 |
| August 2030 | 2,718.51 | 2,091.16 |
| September 2030 | 2,813.66 | 2,164.36 |
| October 2030 | 2,886.82 | 2,220.63 |
| November 2030 | 2,958.99 | 2,276.14 |
| December 2030 | 3,032.96 | 2,333.05 |
As we look forward to 2030, Transformers & Rectifiers India’s stock is projected to show significant upward momentum. Starting in January, the price is anticipated to range between ₹1,951.96 and ₹2,537.54. This trend is expected to climb steadily each month, reaching a high of ₹2,704.11 and a low of ₹2,080.09 by March. By mid-year, in June, prices might range from ₹2,069.00 to ₹2,689.70. The momentum may continue, with notable highs in September at ₹2,813.66 and a potential peak of ₹3,032.96 by December, with lows around ₹2,333.05. This progression indicates a strong performance for Transformers & Rectifiers India throughout 2030.
Financial Condition of Transformers & Rectifiers India
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 701 | 742 | 1,158 | 1,396 | 1,291 | 1,666 |
| Expenses + | 649 | 673 | 1,084 | 1,275 | 1,157 | 1,444 |
| Operating Profit | 51 | 69 | 74 | 121 | 134 | 221 |
| OPM % | 7% | 9% | 6% | 9% | 10% | 13% |
| Other Income + | 16 | 9 | 10 | 9 | 6 | 19 |
| Interest | 46 | 46 | 44 | 48 | 51 | 46 |
| Depreciation | 20 | 19 | 17 | 25 | 25 | 26 |
| Profit before tax | 2 | 13 | 23 | 57 | 64 | 168 |
| Tax % | 44% | 39% | 39% | 26% | 27% | |
| Net Profit + | 1 | 8 | 14 | 42 | 47 | 124 |
| EPS in Rs | 0.03 | 0.53 | 1.06 | 3.07 | 3.12 | 8.25 |
| Dividend Payout % | 0% | 19% | 14% | 5% | 6% |
Transformers & Rectifiers India has demonstrated a strong financial progression from March 2020 to the trailing twelve months (TTM) ending in March 2024. Over these years, sales have shown a notable upward trajectory, growing from ₹701 crore in March 2020 to ₹1,666 crore in TTM, reflecting the company’s expanding market presence. Operating Profit has likewise increased substantially, rising from ₹51 crore in March 2020 to ₹221 crore in TTM. This growth is supported by an improved Operating Profit Margin (OPM), which climbed from 7% to 13%, highlighting more efficient operational management.
Despite fluctuations in other income, Transformers & Rectifiers India managed to keep interest expenses relatively stable, fluctuating around ₹46 crore. Depreciation costs also remained consistent, aside from a slight increase from ₹17 crore in March 2022 to ₹26 crore in TTM. These elements contributed to an impressive rise in profit before tax, surging from ₹2 crore in March 2020 to ₹168 crore in TTM. Net Profit reflected this growth, increasing from ₹1 crore to ₹124 crore, supported by a reduced tax burden, with tax rates declining from 44% to around 27%.
Earnings per Share (EPS) saw a sharp climb from a modest ₹0.03 in March 2020 to ₹8.25 in TTM, showcasing substantial shareholder value creation. Dividend Payout percentages varied, with a peak of 19% in March 2021 and a recent payout of 6% in March 2024, indicating a balanced approach between reinvesting in growth and providing returns to shareholders. Overall, Transformers & Rectifiers India’s financial trajectory over this period highlights a strong upward trend in revenue, profitability, and efficiency, reinforcing its position in the transformer manufacturing sector.
FAQs
What is Transformers & Rectifiers India current market capitalization?
Transformers & Rectifiers India current market capitalization is ₹14,012 Crores.
Transformers & Rectifiers India share price targets for 2025 range from ₹904.79 to ₹1,176.22 by December.
Transformers & Rectifiers India share price targets for 2030 range from ₹2,333.05 to ₹3,032.96 by December.
What is the current Price/Earnings (P/E) ratio of Transformers & Rectifiers India?
Transformers & Rectifiers India current Price/Earnings (P/E) ratio is 116.
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Conclusion
In conclusion, Transformers & Rectifiers (India) Ltd has established itself as a Strong player in the transformer manufacturing sector, catering to both domestic and international markets. With recent major order wins totaling ₹270 crore and an increase in institutional investor interest, the company appears poised for future growth. The shareholding pattern reveals a notable shift, with increased stakes held by Foreign and Domestic Institutional Investors, reflecting heightened confidence in its performance and future prospects. Furthermore, the stock price projections from 2024 to 2030 indicate a steady upward trend, suggesting continued investor optimism. Financially, the company has shown improvement in sales and operating profit, with a significant rise in operating profit margin (OPM%) and earnings per share (EPS), demonstrating sound growth potential. Overall, Transformers & Rectifiers India Ltd is well-positioned to capitalize on industry demand and expand its footprint in the power infrastructure sector.
What did we learn?
- 1 Recent News on Transformers & Rectifiers India Ltd
- 2 Shareholdings Patterns of Transformers & Rectifiers India
- 3 How to Purchase Transformers & Rectifiers India Shares in India?
- 4 Transformers & Rectifiers India Share Price Prediction 2024 – 2030
- 4.1 Transformers & Rectifiers India Share Price Target 2024
- 4.2 Transformers & Rectifiers India Share Price Target 2025
- 4.3 Transformers & Rectifiers India Share Price Prediction 2026
- 4.4 Transformers & Rectifiers India Share Price Target 2027
- 4.5 Transformers & Rectifiers India Share Price Prediction 2028
- 4.6 Transformers & Rectifiers India Share Price Target 2029
- 4.7 Transformers & Rectifiers India Share Price Prediction 2030
- 5 Financial Condition of Transformers & Rectifiers India
- 6 FAQs
- 6.1 What is Transformers & Rectifiers India current market capitalization?
- 6.2 What is Transformers & Rectifiers India share price target for 2025?
- 6.3 What is Transformers & Rectifiers India share price target for 2030?
- 6.4 What is the current Price/Earnings (P/E) ratio of Transformers & Rectifiers India?
- 7 Conclusion
