Transformers and Rectifiers (India) Limited has officially announced the receipt of Notifications of Awards (NOAs) from Power Grid Corporation of India Limited (PGCIL) for the manufacturing of transformers of various ratings. This project is classified as an “Ultra Mega Order,” indicating a total value of ₹1,000 Crores or more. The contract is designated as a domestic order and is scheduled for execution within the next 30 months.

The order win marks a significant milestone for the company, further reinforcing its strong foothold in the Indian electrical equipment and transformer manufacturing sector. Industry analysts note that this development aligns with India’s aggressive power grid expansion and its transition toward integrating 500GW of renewable energy by 2030. The contract falls within the company’s normal course of business and does not constitute a related party transaction.

Transformers and Rectifiers (India) Ltd is a prominent manufacturer of power, distribution, furnace, and rectifier transformers, as well as reactors. Based in Gujarat, the company operates state-of-the-art manufacturing facilities in Moraiya, Changodar, and Odhav, with a massive combined annual production capacity. In recent years, the firm has been actively expanding its capabilities to cater to sectors such as green energy, railways, and heavy industries. The company’s recent strategic initiatives include significant capacity additions and focusing on high-voltage equipment to meet the rising domestic demand for infrastructure.

In the financial year 2025, the company achieved a major milestone by reporting a group revenue of ₹2,017 Crores, meeting its annual guidance with a profit after tax (PAT) margin of 10.1%. The company’s growth has been supported by a robust order book, which reached over ₹5,000 Crores by early 2026. Regarding shareholding, the company sees significant ownership from insiders, with Chairman Jitendra Mamtora holding a 35.85% stake as of March 2026. Other key stakeholders include Janki Aasish Kiri, Karunaben Jitendra Mamtora, and Satyen Jitendra Mamtora, each holding 9.50%. Institutional investors, including various Foreign Portfolio Investors, also maintain a notable presence in the company’s capital structure.