TARIL Q4 Results 2026: Multibagger small-cap stock Transformers and Rectifiers (India) (TARIL) share price tanked 12% on Wednesday, April 22, after the small-cap stock posted weak results for the quarter ended March 2026 (Q4FY26).
TARIL reported a steady sequential improvement in its March quarter performance, with profitability and revenue both moving higher.
Net profit (PAT) rose 9.06% QoQ to ₹77.47 crore in Q4 FY26, compared to ₹71.03 crore in Q3 FY26. On a YoY basis, however, growth remained muted, with PAT increasing just 1.15% from the same quarter last year.
Meanwhile, revenue from operations came in at ₹752.33 crore, up 6.83% QoQ from ₹704.21 crore, while registering a stronger 16.22% YoY growth, indicating improved execution and demand momentum.
Total income for the quarter stood at ₹774.75 crore, rising 9.14% QoQ from ₹709.87 crore and posting an 18.24% increase compared to the year-ago period.
On the cost front, total expenses increased 10.07% QoQ to ₹675.73 crore, up from ₹613.90 crore in the previous quarter and ₹563.12 crore in Q4 FY25, partially offsetting the gains in revenue.
For the full financial year FY26, TARIL reported revenue from operations of ₹2,395.49 crore and total income of ₹2,452.34 crore. Profit before tax stood at ₹301.84 crore, while net profit came in at ₹225.43 crore.
Alongside its results, the company also announced a final dividend of 25%, translating to Re 0.25 per equity share of Re 1 each, subject to shareholder approval at the upcoming AGM.
Other Q4 highlights
The company said it secured new orders worth ₹244 crore during the quarter, while strategically deferring additional order wins to focus on projects with better margins, favourable payment terms, and alignment with its production cycle.
It added that enquiries worth over ₹23,000 crore are currently under negotiation, indicating a strong pipeline. Continuous order inflows have also led to a robust unexecuted order book of around ₹5,005 crore as of March 31, 2026.
During the quarter, the company secured a landmark order from Power Grid Corporation of India (PGCIL) for the repair of an HVDC transformer. It noted that successful execution of this project could lead to approval of its HVDC transformer manufacturing technology by PGCIL, making it the first Indian company to achieve this milestone.
Operationally, the company reported its highest-ever production of around 33,000 MVA in FY26, while maintaining stable EBITDA and PAT margins.
Management said the organisation is well-prepared to handle upcoming challenges, particularly in execution and working capital management.
Additionally, the company received a significant order worth ₹473 crore from GETCO for power and EHV transformers across various ratings.
TARIL stock performance
The stock shed as much as 12.1% to its day’s low of ₹292.90. It has now lost over 50% of its investor wealth from its 52-week high of ₹594.80, hit in April 2025. Meanwhile, it touched its 52-week low of ₹224.30 in February 2026.
It has given mixed returns in recent times, rising 7.5% in last 1 month and 26% in past 3 months, however, it fell 36% in 6 months and 47% in 1 year. In the long term, it has given multibagger returns, soaring around 3360% in 5 years.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
