Trans & Rectifier Q2 results: 24% drop in net profit; Margins narrow to 11.15%

Transformers and Rectifiers (India)Ltdreported a weak performance for the September quarter (Q2 FY26), with net profit declining 24% year-on-year to ₹34 crore from ₹45 crore.

The company's revenue remained largely flat at ₹460 crore compared to ₹462 crore in the same period last year.

Operating performance also softened, with EBITDA down 27% YoY to ₹51.3 crore from ₹70 crore, while margins contracted to 11.15% from 15.13% a year earlier, reflecting cost pressures and lower operating efficiency.

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| Transformers & Rectifiers Q2

--Net Profit Down 24% At Rs 34 Cr Vs Rs 45 Cr (YoY)
--Revenue Down 0.4% At Rs 460 Cr Vs Rs 462 Cr (YoY)
--EBITDA Down 27% At Rs 51.3 Cr Vs Rs 70 Cr (YoY)
--Margin At 11.15% Vs 15.13% (YoY) pic.twitter.com/ZcpFoi5TlN

— CNBC-TV18 (@CNBCTV18Live) November 9, 2025

In a key management update, the company announced that Chanchal SS Rajora, currently serving as CFO and advisor to the board, has been elevated to the position of Director (Finance) with immediate effect.

Additionally, on the recommendation of the Nomination and Remuneration Committee, Ajay Shriram Patil has been reappointed as an Independent Director of the company for a five-year term, effective November 8, 2025, stated the exchange filing.

Patil, a seasoned global finance leader with over 36 years of experience, currently serves as Global CFO at RSB Transmission (India) Ltd., a Bain Capital portfolio company, and was previously Group CFO at Cummins India Ltd.

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