Transformers and Rectifiers Share Surge on ₹726 Cr Order from GETCO

Transformers and Rectifiers (India) Limited (TARIL) has recently obtained major domestic orders from Gujarat Energy Transmission Corporation Limited (GETCO). The orders total ₹726 crore, inclusive of GST, marking a notable development for TARIL.

As of 12:31 PM on March 17, Transformers and Rectifiers (India) Ltd is trading at ₹391.55, up 4.62% today, but down 38.05% over the past six months and 46.48% in the past year.

Order Details

As per the disclosed details, TARIL will supply auto transformers and bus reactors as part of the new orders. The company will handle manufacturing and related tasks associated with these transformers and reactors. The orders were awarded by GETCO, a domestic entity, and are required to be completed within a period of 18 months from the date the Letter of Intent (LOI) was issued.

According to the official communication made to the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), TARIL confirmed that the awarded contract is purely domestic. The regulatory filing clearly outlines the execution timeline –18 months to deliver the complete scope of work.

Transaction Details

The disclosure emphasized transparency regarding the relationships between TARIL and GETCO. It was clarified explicitly that neither TARIL’s promoters nor its promoter group or associated companies have any interest or stake in GETCO. Additionally, this transaction is not classified as a related party transaction, as it falls within the regular operational scope of business for TARIL.

Background

Transformers and Rectifiers (India) Limited operates out of Ahmedabad, Gujarat, and holds the distinction of being the second-largest transformer manufacturer in India based on capacity. The company specializes in power, distribution, furnace, and speciality transformers. With approximately 1,200 employees, TARIL operates three manufacturing facilities in proximity to Ahmedabad, Gujarat.

Conclusion

The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was officially submitted on 17th March 2025 to both the BSE and NSE, maintaining adherence to required regulatory practices and corporate governance norms.

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