Conference Call with Transformers & Rectifiers (India) Management and Analysts on Q4FY25 and Full Year Performance and Outlook. Listen to the full earnings transcript.
Heavy Electrical Equipment company Transformers & Rectifiers (India) announced FY25 & Q4FY25 results Q4FY25 Financial Highlights: Revenue from operations: Rs 676.5 crore compared to Rs 512.7 crore during Q4FY24 change 32% YoY. EBITDA: Rs 138.2 crore compared to Rs 72.9 crore during Q4FY24, change 90% YoY. EBITDA Margin: 20.22% for Q4FY25. PAT margin: 13.78% for Q4FY25. PAT: Rs 94.2 crore compared to Rs 41.9 crore during Q4FY24, change 125% YoY. FY25 Financial Highlights: Revenue: Rs 1,950 crore compared to Rs 1,273 crore during FY24. EBITDA: Rs 320 crore compared to Rs 129 crore during FY24. EBITDA margin: 16.41% for FY25. PAT: Rs 187 crore compared to Rs 42 crore during FY24. PAT margin: 9.44% for FY25. Jitendra Mamtora, Chairman, Transformers & Rectifiers (India), said: First Phase of new capacity addition of 15,000 MVA will start for commercial production from May 2025. Phase 1 of the Journey towards USD 1 Billion Revenue in next 3 Financial Years, achieved in FY25 by achieving the target numbers. The company will expand its Extra High Voltage (EHV) transformer capacity by an additional 22,000 MVA. Commercial production from the expanded capacity is expected to begin in February 2026.With this addition, the total production capacity will exceed 75,000 MVA. New Capex infusion of Rs 550 crore in next 15 months of time. Implementation of 4 new backward integration facilities started. Target to be 100% backward integrated organization by Q1FY27. Satyen Mamtora, Managing Director, Transformers & Rectifiers (India), said: New Orders during the quarter - Rs 2,144 crore. Inquires under Negotiation – Rs 22,000+ crore. Achieved record order inflow, leading to highest-ever unexecuted order book as of March 2025. Secured landmark Rs 740 crore order from GETCO, our largest single order ever. Received order for 420KV three phase reactor with synthetic organic ester insulating fluid from Power Grid. Received order for 175MVA EAF transformer from Arcelor Mittal Mexico. Highest ever production in FY25 with record high EBITDA and PAT margins. Organization is geared up for upcoming challenges. Chanchal Singh Rajora, CFO, Transformers & Rectifiers (India), said: By achieving group revenue of Rs 2051 crore Phase 1 of the TARGET USD 1 billion Revenue in next 3 Financial Years is well in place. Q4FY25 revenue Rs 658 crore; FY25 revenue Rs 1,986 crore (Standalone). Q4FY25 EBIDTA Rs 115 crore and EBIDTA margin 17.46%; FY25 EBIDTA Rs 320 crore and EBIDTA margin 16.12%. FY25 PAT Rs 187 crore and PAT margin 9.45% - Highest ever profitability achieved. Successfully raised Rs 500 crore via QIP in just three weeks to support backward integration and expansion. Revenue improvement due to faster execution of major orders, better production planning, improved receivables, internal control systems, etc. Expect tailwinds to continue and good improvement going forward. Result PDF