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Transformers & Rectifiers (India) Ltd (TARIL) has received two large domestic orders

ICICIdirect Research 05 Oct 2026 DISCLAIMER

News: Transformers & Rectifiers (India) Ltd (TARIL) has received two large domestic orders for manufacturing and supplying transformers and reactors. The first order from Gujarat Energy Transmission Corporation Ltd (GETCO) covers 80 MVAR and 125 MVAR shunt reactors, 500MVA auto transformers and related work, with deliveries scheduled over 24–30 months. The second order from Damodar Valley Corporation (DVC) involves manufacturing and supplying 500MVA and 200MVA auto transformers and related work, with deliveries scheduled over 15–28 months. Both orders are classified as large orders, valued between ₹100 crore and ₹500 crore each, excluding GST, as per the company’s classification policy. Neither order involves a related-party transaction.

View: The orders strengthen TARIL’s order book and provide multi-year revenue visibility, reflecting continued demand for high-voltage grid equipment from state transmission utilities and power sector entities. The requirement for shunt reactors and high-capacity auto transformers is aligned with investments in transmission infrastructure, grid strengthening and renewable energy integration. Execution over the next 15–30 months should support capacity utilisation, although the impact on revenue and margins will depend on the order values, execution schedules and product mix.

Impact: Positive

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