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Transformers & Rectifiers hits life high as Q3 PAT zooms to Rs 55 cr; board OKs 1:1 bonus issue

08-Jan-25 15:53 Hrs IST

Profit before tax was at Rs 73.73 crore in the third quarter of FY25, marking a growth of 258.26% as against Rs 20.58 crore posted in Q3 FY24.

Total expenses rose 41.13% year on year (YoY) to Rs 494.59 crore during the quarter. Employee benefits expense stood at Rs 13.33 crore (up 28.54% YoY) and finance cost stood at Rs 13.54 crore (up 2.42% YoY) in Q3 FY25.

EBITDA stood at Rs 93.76 crore in the quarter ended 31 December 2024, registering a growth of 133.75% as compared with Rs 40.11 crore posted in the corresponding quarter last year. EBITDA margin improved to 16.50% in Q3 FY25 as against 10.81% in Q3 FY24.

On a nine-month basis, the company recorded a 2,167.53% YoY increase in consolidated net profit to Rs 122.22 crore in 9M FY25. Revenue from operations gained 51.44% to Rs 559.36 crore in 9M FY25 from Rs 369.35 crore posted in the corresponding period previous year.

Jitendra Mamtora, chairman, Transformers And Rectifiers (India), said, 'The company has acquired a controlling stake in a CRGO processing unit, achieving 100% backward integration, and has entered into a supply agreement for mother coil, with CRGO contributing approximately 30'35% of the total raw material in a transformer. Order bookings for new capacity expansion are set to begin in Q4 FY25, and the approval process for a new fully automated radiator facility with PGCIL has been initiated.

Additionally, a technology agreement for three critical components marks a significant step in its backward integration journey, with operations expected to begin by December 2025. The company is also on track to achieve US$ 1 billion in revenue over the next three financial years.'

Satyen Mamtora, MD, Transformers And Rectifiers (India), said, 'The company secured its maiden order for 193 MVA single-phase STATCOM transformers and achieved new orders worth Rs 698 crores during the quarter, including Rs 161 crore from export orders. PGCIL granted approval for reactors at the Changodar testing facility.

The company successfully completed a 500MVA short circuit test, and in December 2024, it recorded the highest MVA tested in a single month (3954 MVA) and the highest number of units tested. The revenue target for the current financial year remains intact.'

Meanwhile, the company's board has approved the issue of bonus equity shares in the proportion of 1:1. The bonus shares shall be credited within 2 months from the date of the board approval on or before 7 March, 2025.

Further, the board has also approved issuance of equity shares through qualified institutional placement (QIP) for an amount not exceeding Rs 750 crore.

Transformers & Rectifiers (India) produces transformers for both domestic and international markets.

The scrip hit an all-time high of Rs 1,300.45 in today's intraday session.