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Transformers and Rectifiers (India) Limited has received Notifications of Award (NOAs) from Power Grid Corporation

ICICIdirect Research 01 Jul 2026 DISCLAIMER

News: Transformers and Rectifiers (India) Limited has received Notifications of Award (NOAs) from Power Grid Corporation of India Limited for the manufacture and supply of transformers of various ratings along with associated works. The order has been classified as an Ultra Mega Order (value exceeding ₹1,000 crore, excluding GST) and is to be executed over the next 30 months.

View: The order meaningfully strengthens TARIL's execution pipeline and revenue visibility. Combined with the company's Q1FY27 order inflow of ~₹1,550 crore, this large PGCIL award further accelerates ordering momentum, supports capacity utilisation over the medium term, and reinforces TARIL's positioning as a key beneficiary of India's ongoing transmission and grid infrastructure investment cycle.

Impact: Positive

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