Multibagger small-cap stock: Multibagger small-cap stock Transformers and Rectifiers (India) surges almost 9% in intra-day deals on Tuesday, November 25 after the company announced a significant order win worth ₹389.97 crore from Gujarat Energy Transmission Corporation Limited (GETCO). This order win will strengthen the firm’s position as one of India’s leading transformer manufacturers.
According to the regulatory filing, GETCO has awarded TARIL a contract for 53 transformers of various types, including manufacturing and associated work. The order has been placed by a domestic entity, and delivery of the transformers is scheduled for completion by the next financial year.
With this latest win, TARIL’s total order inflow from GETCO for the quarter has risen to ₹493.42 crore, marking a robust pipeline for the months ahead. The company highlighted its ongoing commitment to delivering high-quality products and strengthening its leadership in the power equipment manufacturing space.
In the filing, the company stated, “With this order, the Company has received a total order book of Rs. 493.42 crore from Gujarat Energy Transmission Corporation Limited during this quarter.”
TARIL noted that it has emerged as one of the largest transformer manufacturers in India, backed by three state-of-the-art production facilities in and around Ahmedabad, Gujarat. The company develops power, distribution, furnace and specialty transformers and employs around 1,200 highly skilled personnel. Over time, TARIL has built strong capabilities and a reputation for engineering excellence in both domestic and global markets.
The company said it remains focused on quality, innovation and timely execution as demand for power infrastructure and grid expansion continues to rise across India.
Transformers and Rectifiers Q2 Results
The company’s net profit for the reporting quarter declined to ₹34 crore, marking a 24% YoY fall from ₹45 crore recorded in the same quarter last year. Revenue from operations remained largely unchanged at ₹460 crore, compared with ₹462 crore in the year-ago period.
At the operating level, EBITDA slipped to ₹51.3 crore, down 27% from ₹70 crore reported in the September 2024 quarter. Operating margins also contracted sharply by 398 basis points YoY, coming in at 11.15%.
The margin pressure was driven primarily by a steep increase in employee benefit expenses, which surged 116% YoY to ₹26.05 crore, significantly weighing on profitability.
For H1FY26, however, performance showed strong improvement. Net profit rose 57% to ₹105 crore, while revenue from operations increased to ₹989.36 crore from ₹783.54 crore in the same period last year. Operating margins for the six-month period stood at 17%, higher than 15.91% a year earlier.
Transformers and Rectifiers Stock Performance
The small-cap stock surged as much as 8.7% to its day’s high of ₹312.80. It is currently 53% from its 52-week high of ₹650.23, hit in January 2025. Meanwhile, it touched its 52-week low of ₹282.80 in November 2025.
The stock has lost almost 38% in the last 1 year and is down 41% in last 6 months as well as 3 months. In past 1 month, the stock has lost 37%.
However, the scrip has given multibagger returns in the long term, skyrocketing 5,500% in last 5 years.
