₹698 crore order wins in a quarter: Transformers and Rectifiers shares in a 5% upper circuit
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Shares of Transformers and Rectifiers (India) Ltd. were in an upper circuit of 5% at ₹758.95 on Monday after the company announced winning orders worth ₹148.55 crore from multiple entities.
The orders were won from NCC Ltd., Power Grid Corporation of India (PGCIL) and Adani Energy Solutions Ltd., for supply of transformers.
The first order secured from NCC Ltd. is worth ₹72.5 crore. This involves design, manufacture, and supply of two transformers (500 MVA, 400/220/33 kV) and two reactors (125 MVAr, 420 kV). The order is to be executed by January 2026.
The second contract valued ₹55.91 crore has been received from Power Grid Corporation of India. This pertains to design, manufacture, and supply of 765 kV class reactors. The order would be executed within 21 months.
The third order worth ₹20.14 crore awarded by Adani Energy Solutions Ltd. involves supply and installation of seven power transformers (132/33 kV, 20/25 MVA). The project would be completed by March 2025.
Post this order win, the company has won orders worth ₹698 crore for the April-June period.
The company said that it remains committed to establishing itself as a leading transformer manufacturer in India.
Earlier this month, Transformers and Rectifiers (India) Ltd. initiated a share sale to institutional investors, aiming to raise up to ₹500 crore.
Nomura Funds Ireland, Goldman Sachs Fund, HSBC Midcap Fund were some of the institutions to whom the company had issued shares in the QIP at an issue price of ₹665 per share.
Transformers and Rectifiers plans to use the funds raised for capital expenditure, debt repayment, working capital, inorganic growth, and general corporate purposes, according to sources.
TRIL shares are in a 5% upper circuit at ₹758.95. The stock has already tripled in value so far this year, gaining as much as 218%.