Transformers & Rectifiers India Ltd (TRIL): Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: February 21, 2026, 1:05 pm

Market Cap	9,421 Cr.
Current Price	314
Intrinsic Value	₹513.91
High / Low	595/224
Stock P/E	35.3
Book Value	44.8
Dividend Yield	0.06 %
ROCE	28.0 %
ROE	23.4 %
Face Value	1.00
PEG Ratio	0.48

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Transformers & Rectifiers India Ltd (TRIL)

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Bajel Projects Ltd	1,889 Cr.	163	264/142	90.0	45.4	0.00 %	12.9 %	2.68 %	2.00
Aartech Solonics Ltd	142 Cr.	44.6	77.7/43.8	43.8	10.6	0.28 %	5.64 %	8.23 %	5.00
Voltamp Transformers Ltd	8,326 Cr.	8,230	10,088/5,900	23.5	1,626	1.22 %	29.1 %	21.7 %	10.0
Transformers & Rectifiers India Ltd (TRIL)	9,421 Cr.	314	595/224	35.3	44.8	0.06 %	28.0 %	23.4 %	1.00
Power Grid Corporation of India Ltd	2,78,042 Cr.	299	322/247	17.9	106	3.01 %	12.8 %	17.0 %	10.0
Industry Average	39,547.00 Cr	1,383.01		34.84	294.38	0.69%	18.23%	15.50%	5.25

All Competitor Stocks of Transformers & Rectifiers India Ltd (TRIL)

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	332	438	156	257	369	513	322	462	559	676	529	460	737
Expenses	300	406	151	237	331	441	280	392	475	545	441	409	612
Operating Profit	31	33	4	20	38	72	42	69	85	131	88	52	125
OPM %	9%	7%	3%	8%	10%	14%	13%	15%	15%	19%	17%	11%	17%
Other Income	4	1	1	1	2	1	4	12	9	10	20	14	4
Interest	12	12	15	12	13	11	12	10	14	15	10	13	13
Depreciation	9	7	6	6	6	6	7	6	6	7	8	7	8
Profit before tax	14	15	-15	3	21	56	28	64	74	119	90	45	108
Tax %	-2%	35%	-20%	37%	24%	26%	25%	28%	25%	21%	25%	18%	30%
Net Profit	14	10	-12	2	16	42	21	46	55	94	67	37	76
EPS in Rs	0.52	0.34	-0.48	0.06	0.55	1.40	0.67	1.51	1.82	3.14	2.24	1.13	2.46

Last Updated: January 10, 2026, 7:05 am

Below is a detailed analysis of the quarterly data for Transformers & Rectifiers India Ltd (TRIL) based on the most recent figures (Dec 2025) and their trends compared to the previous period:

For Sales, as of Dec 2025, the value is 737.00 Cr.. The value appears strong and on an upward trend. It has increased from 460.00 Cr. (Sep 2025) to 737.00 Cr., marking an increase of 277.00 Cr..
For Expenses, as of Dec 2025, the value is 612.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 409.00 Cr. (Sep 2025) to 612.00 Cr., marking an increase of 203.00 Cr..
For Operating Profit, as of Dec 2025, the value is 125.00 Cr.. The value appears strong and on an upward trend. It has increased from 52.00 Cr. (Sep 2025) to 125.00 Cr., marking an increase of 73.00 Cr..
For OPM %, as of Dec 2025, the value is 17.00%. The value appears strong and on an upward trend. It has increased from 11.00% (Sep 2025) to 17.00%, marking an increase of 6.00%.
For Other Income, as of Dec 2025, the value is 4.00 Cr.. The value appears to be declining and may need further review. It has decreased from 14.00 Cr. (Sep 2025) to 4.00 Cr., marking a decrease of 10.00 Cr..
For Interest, as of Dec 2025, the value is 13.00 Cr.. The value remains steady. There is no change compared to the previous period (Sep 2025) which recorded 13.00 Cr..
For Depreciation, as of Dec 2025, the value is 8.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 7.00 Cr. (Sep 2025) to 8.00 Cr., marking an increase of 1.00 Cr..
For Profit before tax, as of Dec 2025, the value is 108.00 Cr.. The value appears strong and on an upward trend. It has increased from 45.00 Cr. (Sep 2025) to 108.00 Cr., marking an increase of 63.00 Cr..
For Tax %, as of Dec 2025, the value is 30.00%. The value appears to be increasing, which may not be favorable. It has increased from 18.00% (Sep 2025) to 30.00%, marking an increase of 12.00%.
For Net Profit, as of Dec 2025, the value is 76.00 Cr.. The value appears strong and on an upward trend. It has increased from 37.00 Cr. (Sep 2025) to 76.00 Cr., marking an increase of 39.00 Cr..
For EPS in Rs, as of Dec 2025, the value is 2.46. The value appears strong and on an upward trend. It has increased from 1.13 (Sep 2025) to 2.46, marking an increase of 1.33.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: December 15, 2025, 4:29 am

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	732	553	657	821	716	855	701	742	1,155	1,396	1,291	2,017	2,225
Expenses	690	523	618	733	650	794	649	673	1,084	1,275	1,157	1,689	1,869
Operating Profit	42	31	38	87	65	61	51	69	71	121	134	327	356
OPM %	6%	6%	6%	11%	9%	7%	7%	9%	6%	9%	10%	16%	16%
Other Income	4	3	4	6	6	12	16	9	13	9	6	35	53
Interest	26	32	38	42	44	46	46	46	44	48	51	51	52
Depreciation	10	13	15	15	16	19	20	19	17	25	25	27	29
Profit before tax	9	-11	-10	36	11	9	2	13	23	57	64	285	329
Tax %	35%	-34%	-32%	34%	41%	41%	44%	39%	39%	26%	27%	24%
Net Profit	5	-8	-7	24	6	5	1	8	14	42	47	216	254
EPS in Rs	0.20	-0.30	-0.28	0.88	0.20	0.17	0.02	0.27	0.53	1.54	1.56	7.14	8.33
Dividend Payout %	23%	0%	0%	0%	0%	0%	0%	19%	14%	5%	6%	3%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	-260.00%	12.50%	442.86%	-75.00%	-16.67%	-80.00%	700.00%	75.00%	200.00%	11.90%	359.57%
Change in YoY Net Profit Growth (%)	0.00%	272.50%	430.36%	-517.86%	58.33%	-63.33%	780.00%	-625.00%	125.00%	-188.10%	347.67%

Transformers & Rectifiers India Ltd (TRIL) has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	14%
5 Years:	24%
3 Years:	20%
TTM:	52%

Compounded Profit Growth
10 Years:	40%
5 Years:	251%
3 Years:	148%
TTM:	235%

Stock Price CAGR
10 Years:	51%
5 Years:	151%
3 Years:	193%
1 Year:	37%

Return on Equity
10 Years:	8%
5 Years:	13%
3 Years:	17%
Last Year:	23%

Last Updated: September 5, 2025, 1:46 pm

Balance Sheet

Last Updated: December 10, 2025, 3:34 am

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	13	13	13	13	13	13	13	13	13	13	14	30	30
Reserves	330	321	313	312	317	322	323	330	343	380	540	1,222	1,315
Borrowings	170	157	164	209	399	263	308	263	325	330	256	283	366
Other Liabilities	294	232	299	341	358	281	289	319	428	464	360	652	679
Total Liabilities	807	723	789	876	1,088	880	933	925	1,109	1,187	1,170	2,187	2,390
Fixed Assets	155	192	185	187	195	201	193	181	168	153	144	251	245
CWIP	26	11	11	6	12	3	2	0	3	3	5	62	93
Investments	0	0	0	0	0	0	0	0	1	1	4	268	204
Other Assets	626	519	592	682	881	676	738	744	936	1,030	1,017	1,605	1,848
Total Assets	807	723	789	876	1,088	880	933	925	1,109	1,187	1,170	2,187	2,390

Below is a detailed analysis of the balance sheet data for Transformers & Rectifiers India Ltd (TRIL) based on the most recent figures (Sep 2025) and their trends compared to the previous period:

For Equity Capital, as of Sep 2025, the value is 30.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 30.00 Cr..
For Reserves, as of Sep 2025, the value is 1,315.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,222.00 Cr. (Mar 2025) to 1,315.00 Cr., marking an increase of 93.00 Cr..
For Borrowings, as of Sep 2025, the value is 366.00 Cr.. The value appears to be increasing, which may not be favorable. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has increased from 283.00 Cr. (Mar 2025) to 366.00 Cr., marking an increase of 83.00 Cr..
For Other Liabilities, as of Sep 2025, the value is 679.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 652.00 Cr. (Mar 2025) to 679.00 Cr., marking an increase of 27.00 Cr..
For Total Liabilities, as of Sep 2025, the value is 2,390.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 2,187.00 Cr. (Mar 2025) to 2,390.00 Cr., marking an increase of 203.00 Cr..
For Fixed Assets, as of Sep 2025, the value is 245.00 Cr.. The value appears to be declining and may need further review. It has decreased from 251.00 Cr. (Mar 2025) to 245.00 Cr., marking a decrease of 6.00 Cr..
For CWIP, as of Sep 2025, the value is 93.00 Cr.. The value appears strong and on an upward trend. It has increased from 62.00 Cr. (Mar 2025) to 93.00 Cr., marking an increase of 31.00 Cr..
For Investments, as of Sep 2025, the value is 204.00 Cr.. The value appears to be declining and may need further review. It has decreased from 268.00 Cr. (Mar 2025) to 204.00 Cr., marking a decrease of 64.00 Cr..
For Other Assets, as of Sep 2025, the value is 1,848.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,605.00 Cr. (Mar 2025) to 1,848.00 Cr., marking an increase of 243.00 Cr..
For Total Assets, as of Sep 2025, the value is 2,390.00 Cr.. The value appears strong and on an upward trend. It has increased from 2,187.00 Cr. (Mar 2025) to 2,390.00 Cr., marking an increase of 203.00 Cr..

Notably, the Reserves (1,315.00 Cr.) exceed the Borrowings (366.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	-32	93	37	66	-102	179	16	96	2	28	29	157
Cash from Investing Activity +	-16	-30	-5	-24	-31	-8	-15	-7	-8	9	-22	-625
Cash from Financing Activity +	37	-50	-31	-61	145	-182	2	-93	17	-45	-10	472
Net Cash Flow	-11	13	0	-18	12	-11	3	-4	11	-7	-3	4

Free Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	-128.00	-126.00	-126.00	-122.00	-334.00	-202.00	-257.00	-194.00	-254.00	-209.00	-122.00	44.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	191	158	171	166	256	161	218	205	164	166	174	85
Inventory Days	78	147	155	120	182	109	153	147	104	93	109	118
Days Payable	136	160	209	149	203	114	161	179	129	118	95	109
Cash Conversion Cycle	134	145	117	138	235	156	210	173	139	141	188	94
Working Capital Days	91	76	77	63	57	55	73	94	60	68	119	34
ROCE %	7%	4%	6%	15%	9%	8%	8%	9%	10%	15%	15%	28%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	74.91%	74.91%	74.91%	69.65%	69.65%	66.16%	66.16%	64.36%	64.36%	64.36%	64.36%	64.36%
FIIs	0.02%	0.03%	0.56%	3.48%	4.45%	8.00%	9.34%	11.08%	11.33%	10.94%	11.21%	7.01%
DIIs	0.00%	0.00%	0.00%	0.00%	1.89%	6.33%	6.93%	7.68%	7.22%	6.04%	5.95%	4.18%
Public	25.07%	25.07%	24.53%	26.87%	24.00%	19.50%	17.57%	16.88%	17.07%	18.67%	18.47%	24.43%
No. of Shareholders	49,012	51,342	54,118	61,972	64,977	86,041	90,218	99,687	1,45,463	1,81,103	1,79,367	2,06,060

Shareholding Pattern Chart

No. of Shareholders

Transformers & Rectifiers India Ltd (TRIL): Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
HSBC Midcap Fund	3,698,488	0.85	105.5	N/A	N/A	N/A
Motilal Oswal Small Cap Fund	2,010,890	0.98	57.36	N/A	N/A	N/A
Invesco India Infrastructure Fund	1,488,035	3	42.45	1,062,112	2026-01-26 01:11:58	40.1%
Invesco India ELSS Tax Saver Fund	1,438,657	1.48	41.04	1,181,816	2026-01-26 02:27:18	21.73%
HSBC ELSS Tax saver Fund	1,092,700	0.76	31.17	667,000	2025-08-12 12:29:25	63.82%
HSBC Large & Mid Cap Fund	609,598	0.37	17.39	2,209,598	2025-12-15 01:20:14	-72.41%
HSBC Infrastructure Fund	370,200	0.47	10.56	N/A	N/A	N/A
HSBC Multi Asset Allocation Fund	246,033	0.28	7.02	N/A	N/A	N/A
Invesco India Manufacturing Fund	129,276	0.52	3.69	N/A	N/A	N/A
Invesco India Aggressive Hybrid Fund	60,746	0.21	1.73	N/A	N/A	N/A

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	1.00	1.00	1.00	1.00	1.00
Basic EPS (Rs.)	7.21	3.24	3.07	1.06	0.53
Diluted EPS (Rs.)	7.21	3.24	3.07	1.06	0.53
Cash EPS (Rs.)	8.11	5.03	5.04	2.36	2.04
Book Value[Excl.RevalReserv]/Share (Rs.)	41.71	39.49	30.24	27.40	26.41
Book Value[Incl.RevalReserv]/Share (Rs.)	41.71	39.49	30.24	27.40	26.41
Revenue From Operations / Share (Rs.)	67.28	90.81	104.16	87.38	55.98
PBDIT / Share (Rs.)	11.97	9.81	9.77	6.33	5.89
PBIT / Share (Rs.)	11.07	8.08	7.92	5.05	4.43
PBT / Share (Rs.)	9.49	4.52	4.30	1.76	0.94
Net Profit / Share (Rs.)	7.21	3.30	3.19	1.08	0.57
NP After MI And SOA / Share (Rs.)	7.14	3.12	3.07	1.06	0.53
PBDIT Margin (%)	17.78	10.80	9.38	7.24	10.52
PBIT Margin (%)	16.45	8.89	7.60	5.77	7.91
PBT Margin (%)	14.10	4.97	4.13	2.01	1.68
Net Profit Margin (%)	10.71	3.63	3.06	1.23	1.03
NP After MI And SOA Margin (%)	10.61	3.43	2.94	1.20	0.95
Return on Networth / Equity (%)	17.11	8.02	10.35	3.92	2.05
Return on Capital Employeed (%)	24.00	18.31	21.97	15.28	13.61
Return On Assets (%)	9.80	3.80	3.43	1.26	0.76
Long Term Debt / Equity (X)	0.06	0.09	0.16	0.15	0.19
Total Debt / Equity (X)	0.22	0.46	0.83	0.90	0.71
Asset Turnover Ratio (%)	1.20	1.10	1.20	1.12	0.79
Current Ratio (X)	1.74	1.83	1.40	1.35	1.44
Quick Ratio (X)	1.19	1.32	1.01	0.96	0.99
Inventory Turnover Ratio (X)	5.61	3.28	3.73	4.24	2.63
Dividend Payout Ratio (NP) (%)	1.33	4.46	4.88	2.37	0.00
Dividend Payout Ratio (CP) (%)	1.18	2.87	3.04	1.07	0.00
Earning Retention Ratio (%)	98.67	95.54	95.12	97.63	0.00
Cash Earning Retention Ratio (%)	98.82	97.13	96.96	98.93	0.00
Interest Coverage Ratio (X)	7.10	2.75	2.70	1.92	1.69
Interest Coverage Ratio (Post Tax) (X)	5.21	1.93	1.88	1.33	1.17
Enterprise Value (Cr.)	16218.97	5879.03	1074.92	720.44	443.51
EV / Net Operating Revenue (X)	8.03	4.54	0.77	0.62	0.59
EV / EBITDA (X)	45.16	42.02	8.30	8.59	5.68
MarketCap / Net Operating Revenue (X)	7.97	4.36	0.55	0.37	0.29
Retention Ratios (%)	98.66	95.53	95.11	97.62	0.00
Price / BV (X)	12.85	10.18	1.93	1.23	0.63
Price / Net Operating Revenue (X)	7.97	4.36	0.55	0.37	0.29
EarningsYield	0.01	0.01	0.05	0.03	0.03

After reviewing the key financial ratios for Transformers & Rectifiers India Ltd (TRIL), here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 25, the value is 1.00. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 1.00.
For Basic EPS (Rs.), as of Mar 25, the value is 7.21. This value is within the healthy range. It has increased from 3.24 (Mar 24) to 7.21, marking an increase of 3.97.
For Diluted EPS (Rs.), as of Mar 25, the value is 7.21. This value is within the healthy range. It has increased from 3.24 (Mar 24) to 7.21, marking an increase of 3.97.
For Cash EPS (Rs.), as of Mar 25, the value is 8.11. This value is within the healthy range. It has increased from 5.03 (Mar 24) to 8.11, marking an increase of 3.08.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 41.71. It has increased from 39.49 (Mar 24) to 41.71, marking an increase of 2.22.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 41.71. It has increased from 39.49 (Mar 24) to 41.71, marking an increase of 2.22.
For Revenue From Operations / Share (Rs.), as of Mar 25, the value is 67.28. It has decreased from 90.81 (Mar 24) to 67.28, marking a decrease of 23.53.
For PBDIT / Share (Rs.), as of Mar 25, the value is 11.97. This value is within the healthy range. It has increased from 9.81 (Mar 24) to 11.97, marking an increase of 2.16.
For PBIT / Share (Rs.), as of Mar 25, the value is 11.07. This value is within the healthy range. It has increased from 8.08 (Mar 24) to 11.07, marking an increase of 2.99.
For PBT / Share (Rs.), as of Mar 25, the value is 9.49. This value is within the healthy range. It has increased from 4.52 (Mar 24) to 9.49, marking an increase of 4.97.
For Net Profit / Share (Rs.), as of Mar 25, the value is 7.21. This value is within the healthy range. It has increased from 3.30 (Mar 24) to 7.21, marking an increase of 3.91.
For NP After MI And SOA / Share (Rs.), as of Mar 25, the value is 7.14. This value is within the healthy range. It has increased from 3.12 (Mar 24) to 7.14, marking an increase of 4.02.
For PBDIT Margin (%), as of Mar 25, the value is 17.78. This value is within the healthy range. It has increased from 10.80 (Mar 24) to 17.78, marking an increase of 6.98.
For PBIT Margin (%), as of Mar 25, the value is 16.45. This value is within the healthy range. It has increased from 8.89 (Mar 24) to 16.45, marking an increase of 7.56.
For PBT Margin (%), as of Mar 25, the value is 14.10. This value is within the healthy range. It has increased from 4.97 (Mar 24) to 14.10, marking an increase of 9.13.
For Net Profit Margin (%), as of Mar 25, the value is 10.71. This value exceeds the healthy maximum of 10. It has increased from 3.63 (Mar 24) to 10.71, marking an increase of 7.08.
For NP After MI And SOA Margin (%), as of Mar 25, the value is 10.61. This value is within the healthy range. It has increased from 3.43 (Mar 24) to 10.61, marking an increase of 7.18.
For Return on Networth / Equity (%), as of Mar 25, the value is 17.11. This value is within the healthy range. It has increased from 8.02 (Mar 24) to 17.11, marking an increase of 9.09.
For Return on Capital Employeed (%), as of Mar 25, the value is 24.00. This value is within the healthy range. It has increased from 18.31 (Mar 24) to 24.00, marking an increase of 5.69.
For Return On Assets (%), as of Mar 25, the value is 9.80. This value is within the healthy range. It has increased from 3.80 (Mar 24) to 9.80, marking an increase of 6.00.
For Long Term Debt / Equity (X), as of Mar 25, the value is 0.06. This value is below the healthy minimum of 0.2. It has decreased from 0.09 (Mar 24) to 0.06, marking a decrease of 0.03.
For Total Debt / Equity (X), as of Mar 25, the value is 0.22. This value is within the healthy range. It has decreased from 0.46 (Mar 24) to 0.22, marking a decrease of 0.24.
For Asset Turnover Ratio (%), as of Mar 25, the value is 1.20. It has increased from 1.10 (Mar 24) to 1.20, marking an increase of 0.10.
For Current Ratio (X), as of Mar 25, the value is 1.74. This value is within the healthy range. It has decreased from 1.83 (Mar 24) to 1.74, marking a decrease of 0.09.
For Quick Ratio (X), as of Mar 25, the value is 1.19. This value is within the healthy range. It has decreased from 1.32 (Mar 24) to 1.19, marking a decrease of 0.13.
For Inventory Turnover Ratio (X), as of Mar 25, the value is 5.61. This value is within the healthy range. It has increased from 3.28 (Mar 24) to 5.61, marking an increase of 2.33.
For Dividend Payout Ratio (NP) (%), as of Mar 25, the value is 1.33. This value is below the healthy minimum of 20. It has decreased from 4.46 (Mar 24) to 1.33, marking a decrease of 3.13.
For Dividend Payout Ratio (CP) (%), as of Mar 25, the value is 1.18. This value is below the healthy minimum of 20. It has decreased from 2.87 (Mar 24) to 1.18, marking a decrease of 1.69.
For Earning Retention Ratio (%), as of Mar 25, the value is 98.67. This value exceeds the healthy maximum of 70. It has increased from 95.54 (Mar 24) to 98.67, marking an increase of 3.13.
For Cash Earning Retention Ratio (%), as of Mar 25, the value is 98.82. This value exceeds the healthy maximum of 70. It has increased from 97.13 (Mar 24) to 98.82, marking an increase of 1.69.
For Interest Coverage Ratio (X), as of Mar 25, the value is 7.10. This value is within the healthy range. It has increased from 2.75 (Mar 24) to 7.10, marking an increase of 4.35.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 25, the value is 5.21. This value is within the healthy range. It has increased from 1.93 (Mar 24) to 5.21, marking an increase of 3.28.
For Enterprise Value (Cr.), as of Mar 25, the value is 16,218.97. It has increased from 5,879.03 (Mar 24) to 16,218.97, marking an increase of 10,339.94.
For EV / Net Operating Revenue (X), as of Mar 25, the value is 8.03. This value exceeds the healthy maximum of 3. It has increased from 4.54 (Mar 24) to 8.03, marking an increase of 3.49.
For EV / EBITDA (X), as of Mar 25, the value is 45.16. This value exceeds the healthy maximum of 15. It has increased from 42.02 (Mar 24) to 45.16, marking an increase of 3.14.
For MarketCap / Net Operating Revenue (X), as of Mar 25, the value is 7.97. This value exceeds the healthy maximum of 3. It has increased from 4.36 (Mar 24) to 7.97, marking an increase of 3.61.
For Retention Ratios (%), as of Mar 25, the value is 98.66. This value exceeds the healthy maximum of 70. It has increased from 95.53 (Mar 24) to 98.66, marking an increase of 3.13.
For Price / BV (X), as of Mar 25, the value is 12.85. This value exceeds the healthy maximum of 3. It has increased from 10.18 (Mar 24) to 12.85, marking an increase of 2.67.
For Price / Net Operating Revenue (X), as of Mar 25, the value is 7.97. This value exceeds the healthy maximum of 3. It has increased from 4.36 (Mar 24) to 7.97, marking an increase of 3.61.
For EarningsYield, as of Mar 25, the value is 0.01. This value is below the healthy minimum of 5. There is no change compared to the previous period (Mar 24) which recorded 0.01.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Transformers & Rectifiers India Ltd (TRIL) as of February 22, 2026 is: ₹296.22

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of February 22, 2026, Transformers & Rectifiers India Ltd (TRIL) is Overvalued by 5.66% compared to the current share price ₹314.00

Intrinsic Value of Transformers & Rectifiers India Ltd (TRIL) as of February 22, 2026 is: ₹513.91

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of February 22, 2026, Transformers & Rectifiers India Ltd (TRIL) is Undervalued by 63.67% compared to the current share price ₹314.00

Last 5 Year EPS CAGR: 73.49%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The company has higher reserves (489.85 cr) compared to borrowings (268.69 cr), indicating strong financial stability. The company has shown consistent growth in sales (444.92 cr) and profit (62.85 cr) over the years.	The stock has a low average ROCE of 11.17%, which may not be favorable. The stock has a high average Working Capital Days of 72.25, which may not be favorable. The stock has a high average Cash Conversion Cycle of 155.83, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Transformers & Rectifiers India Ltd (TRIL):
1. Net Profit Margin: 10.71%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 24% (Industry Average ROCE: 18.23%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 17.11% (Industry Average ROE: 15.5%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 5.21
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 1.19
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 35.3 (Industry average Stock P/E: 34.84)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.22
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Transformers & Rectifiers (India) Ltd. is a Public Limited Listed company incorporated on 11/07/1994 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L33121GJ1994PLC022460 and registration number is 022460. Currently Company is involved in the business activities of Manufacture of electric power distribution transformers, arc-welding transformers, fluorescent ballasts, transmission and distribution voltage regulators. Company's Total Operating Revenue is Rs. 1950.14 Cr. and Equity Capital is Rs. 30.02 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Power - Transmission/Equipment	Survey No.427 P/3-4 & 431 P/1-2, Ahmedabad District Gujarat 382213	Contact not found

Management
Name	Position Held
Mr. Jitendra U Mamtora	Chairman & Wholetime Director
Mr. Satyen J Mamtora	Managing Director
Mrs. Karuna J Mamtora	Executive Director
Mr. Rajendra S Shah	Independent Director
Mr. Subir Kumar Das	Independent Director
Mrs. Tanvi V Rangwala	Independent Director

FAQ

What is the intrinsic value of Transformers & Rectifiers India Ltd (TRIL)?

Transformers & Rectifiers India Ltd (TRIL)'s intrinsic value (as of 21 February 2026) is ₹513.91 which is 63.67% higher the current market price of ₹314.00, indicating undervalued. Calculated using the PE ratio method, this valuation considers the company's ₹9,421 Cr. market cap, FY2025-2026 high/low of ₹595/224, reserves of ₹1,315 Cr, and liabilities of ₹2,390 Cr.

What is the Market Cap of Transformers & Rectifiers India Ltd (TRIL)?

The Market Cap of Transformers & Rectifiers India Ltd (TRIL) is 9,421 Cr..

What is the current Stock Price of Transformers & Rectifiers India Ltd (TRIL) as on 21 February 2026?

The current stock price of Transformers & Rectifiers India Ltd (TRIL) as on 21 February 2026 is ₹314.

What is the High / Low of Transformers & Rectifiers India Ltd (TRIL) stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of Transformers & Rectifiers India Ltd (TRIL) stocks is ₹595/224.

What is the Stock P/E of Transformers & Rectifiers India Ltd (TRIL)?

The Stock P/E of Transformers & Rectifiers India Ltd (TRIL) is 35.3.

What is the Book Value of Transformers & Rectifiers India Ltd (TRIL)?

The Book Value of Transformers & Rectifiers India Ltd (TRIL) is 44.8.

What is the Dividend Yield of Transformers & Rectifiers India Ltd (TRIL)?

The Dividend Yield of Transformers & Rectifiers India Ltd (TRIL) is 0.06 %.

What is the ROCE of Transformers & Rectifiers India Ltd (TRIL)?

The ROCE of Transformers & Rectifiers India Ltd (TRIL) is 28.0 %.

What is the ROE of Transformers & Rectifiers India Ltd (TRIL)?

The ROE of Transformers & Rectifiers India Ltd (TRIL) is 23.4 %.

What is the Face Value of Transformers & Rectifiers India Ltd (TRIL)?

The Face Value of Transformers & Rectifiers India Ltd (TRIL) is 1.00.