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

Q: What is the current share price and 52-week range of Transformers & Rectifiers India Ltd (TRIL)?

Transformers & Rectifiers India Ltd (TRIL) is trading at 323.00 as of 28 April 2026, with a FY2026-2027 high of 579 and low of 224. The stock is currently in the middle of its 52-week range. Market cap stands at 9,709 Cr..

Q: Is Transformers & Rectifiers India Ltd (TRIL) financially healthy?

Key indicators: ROCE of 23.3 % indicates efficient capital utilization. Dividend yield is 0.06 %.

Fair Value

₹283.36Overvalued by 12.27%vs CMP ₹323.00

P/E (36.7) × ROE (19.1%) × BV (₹50.50) × DY (0.06%)

₹182.74Overvalued by 43.42%vs CMP ₹323.00

MoS: -76.8% (Negative)Confidence: 63/100 (Moderate)Models: 1 Under, 8 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹498.94	23%	Under (+54.5%)
Graham Number	Earnings	₹100.96	17%	Over (-68.7%)
Earnings Power	Earnings	₹8.43	11%	Over (-97.4%)
DCF	Cash Flow	₹212.28	11%	Over (-34.3%)
Net Asset Value	Assets	₹44.75	7%	Over (-86.1%)
EV/EBITDA	Enterprise	₹82.04	9%	Over (-74.6%)
Earnings Yield	Earnings	₹89.70	7%	Over (-72.2%)
ROCE Capital	Returns	₹64.56	7%	Over (-80%)
Revenue Multiple	Revenue	₹33.55	6%	Over (-89.6%)
Consensus (9 models)		₹182.74	100%	Overvalued

Key Drivers: EPS CAGR 76.1% lifts DCF — verify sustainability. | Wide model spread (₹8–₹499) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 76.1%

*Investments are subject to market risks

Analyst Summary

Transformers & Rectifiers India Ltd (TRIL) operates in the Power - Transmission/Equipment segment, NSE: TARIL | BSE: 532928, current market price is ₹323.00, market cap is 9,709 Cr.. At a glance, stock P/E is 36.7, ROE is 19.1 %, ROCE is 23.3 %, book value is 50.5, dividend yield is 0.06 %. The latest intrinsic value estimate is ₹182.74, around 43.4% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹2,017 Cr versus the prior period change of 56.2%, while latest net profit is about ₹216 Cr with a prior-period change of 359.6%. The 52-week range shown on this page is 579/224, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisTransformers & 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 Nu…

This summary is generated from the stock page data available for Transformers & Rectifiers India Ltd (TRIL): Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

Transformers & Rectifiers India Ltd (TRIL) scores 76/100 (Strong)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health83/100 · Strong

ROCE 23.3% ExcellentROE 19.1% ExcellentD/E 0.71 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent

Smart Money20/100 · Weak

FII holding down -4.32% (6mo) SellingDII holding down 3.04% MF sellingPromoter holding at 64.4% Stable

Earnings Quality75/100 · Strong

OPM expanding (8% → 13%) ImprovingWorking capital: 34 days (improving) Efficient

Quarterly Momentum90/100 · Strong

Revenue (4Q): +29% YoY AcceleratingProfit (4Q): +67% YoY Strong

Industry Rank85/100 · Strong

P/E 36.7 vs industry 39.4 In-lineROCE 23.3% vs industry 17.7% Above peersROE 19.1% vs industry 15.0% Above peers3Y sales CAGR: 20% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 26, 2026, 12:26 am

Market Cap	9,709 Cr.
Current Price	323
Intrinsic Value	₹182.74
High / Low	579/224
Stock P/E	36.7
Book Value	50.5
Dividend Yield	0.06 %
ROCE	23.3 %
ROE	19.1 %
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 ⇩
Transformers & Rectifiers India Ltd (TRIL)	9,709 Cr.	323	579/224	36.7	50.5	0.06 %	23.3 %	19.1 %	1.00
Voltamp Transformers Ltd	10,895 Cr.	10,768	11,295/6,666	30.8	1,626	0.93 %	29.1 %	21.7 %	10.0
KEC International Ltd	15,310 Cr.	575	947/501	21.0	212	0.96 %	18.0 %	12.0 %	2.00
Indo Tech Transformers Ltd	2,552 Cr.	2,403	2,790/1,100	28.4	306	0.00 %	37.8 %	25.7 %	10.0
Bajel Projects Ltd	2,101 Cr.	182	264/135	100	45.4	0.00 %	12.9 %	2.68 %	2.00
Industry Average	42,060.88 Cr	1,828.69		39.38	295.10	0.63%	17.65%	14.96%	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

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 5:46 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	2,403
Expenses	690	523	618	733	650	794	649	673	1,084	1,275	1,157	1,689	2,007
Operating Profit	42	31	38	87	65	61	51	69	71	121	134	327	396
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	49
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	30
Profit before tax	9	-11	-10	36	11	9	2	13	23	57	64	285	363
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	275
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	8.97
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

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity +	93	37	66	-102	179	16	96	2	28	29	157	-105
Cash from Investing Activity +	-30	-5	-24	-31	-8	-15	-7	-8	9	-22	-625	-7
Cash from Financing Activity +	-50	-31	-61	145	-182	2	-93	17	-45	-10	472	116
Net Cash Flow	13	0	-18	12	-11	3	-4	11	-7	-3	4	3
Free Cash Flow	61	29	55	-132	163	7	91	-6	19	14	-75	-215
CFO/OP	310%	100%	78%	-152%	296%	37%	140%	4%	34%	38%	58%	2%

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
Invesco India ELSS Tax Saver Fund	1,587,535	1.89	49.24	1,548,129	2026-03-23 15:52:02	2.55%
Invesco India Infrastructure Fund	1,488,035	3.37	46.15	1,062,112	2026-01-26 01:11:58	40.1%

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

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

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. 2395.49 Cr. and Equity Capital is Rs. 30.02 Cr. for the Year ended 31/03/2026.

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) and is it undervalued?

As of 28 April 2026, Transformers & Rectifiers India Ltd (TRIL)'s intrinsic value is ₹182.74, which is 43.42% lower than the current market price of ₹323.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (19.1 %), book value (₹50.5), dividend yield (0.06 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Transformers & Rectifiers India Ltd (TRIL)?

Transformers & Rectifiers India Ltd (TRIL) is trading at ₹323.00 as of 28 April 2026, with a FY2026-2027 high of ₹579 and low of ₹224. The stock is currently in the middle of its 52-week range. Market cap stands at ₹9,709 Cr..

How does Transformers & Rectifiers India Ltd (TRIL)'s P/E ratio compare to its industry?

Transformers & Rectifiers India Ltd (TRIL) has a P/E ratio of 36.7, which is below the industry average of 39.38. This is broadly in line with or below the industry average.

Is Transformers & Rectifiers India Ltd (TRIL) financially healthy?

Key indicators for Transformers & Rectifiers India Ltd (TRIL): ROCE of 23.3 % indicates efficient capital utilization; ROE of 19.1 % shows strong shareholder returns. Dividend yield is 0.06 %.

Is Transformers & Rectifiers India Ltd (TRIL) profitable and how is the profit trend?

Transformers & Rectifiers India Ltd (TRIL) reported a net profit of ₹216 Cr in Mar 2025 on revenue of ₹2,017 Cr. Compared to ₹14 Cr in Mar 2022, the net profit shows an improving trend.

Does Transformers & Rectifiers India Ltd (TRIL) pay dividends?

Transformers & Rectifiers India Ltd (TRIL) has a dividend yield of 0.06 % at the current price of ₹323.00. The company pays dividends, though the yield is modest.