Heavy Electrical Equipment company Transformers & Rectifiers (India) announced Q2FY27 results Consolidated Financial Highlights: Revenue from Operations: Stood at Rs 739.44 crore in Q2FY27, recording an increase of 29.19% QoQ compared to Rs 572.34 crore in Q1FY27, and a growth of 60.74% YoY compared to Rs 460.03 crore in Q2FY26. Other Income: Recorded at Rs 2.72 crore in Q2FY27, declining by 83.32% QoQ from Rs 16.31 crore in Q1FY27, and decreasing by 80.46% YoY from Rs 13.92 crore in Q2FY26. Total Income: Stood at Rs 742.16 crore in Q2FY27, increasing by 26.08% QoQ from Rs 588.65 crore in Q1FY27, and rising by 56.59% YoY compared to Rs 473.95 crore in Q2FY26. Profit Before Tax (PBT): Stood at Rs 109.93 crore in Q2FY27, growing by 24.88% QoQ from Rs 88.03 crore in Q1FY27, and jumping by 142.67% YoY from Rs 45.30 crore in Q2FY26. Tax Expense: Total tax expense for Q2FY27 was Rs 28.55 crore, compared to Rs 23.74 crore in Q1FY27 and Rs 7.95 crore in Q2FY26. Profit for the Period (PAT): Stood at Rs 81.38 crore in Q2FY27, expanding by 26.58% QoQ compared to Rs 64.29 crore in Q1FY27, and surging by 117.88% YoY compared to Rs 37.35 crore in Q2FY26. Profit attributable to owners of the Company was Rs 79.80 crore in Q2FY27, up 29.71% QoQ from Rs 61.52 crore in Q1FY27, and up 135.33% YoY from Rs 33.91 crore in Q2FY26. Total Comprehensive Income: Stood at Rs 81.28 crore in Q2FY27, up by 26.33% QoQ from Rs 64.34 crore in Q1FY27, and up by 117.04% YoY from Rs 37.45 crore in Q2FY26. Total comprehensive income attributable to owners of the Company stood at Rs 79.70 crore in Q2FY27 compared to Rs 61.57 crore in Q1FY27 and Rs 34.01 crore in Q2FY26. Earnings Per Share (EPS): Basic and Diluted EPS stood at Rs 2.66 in Q2FY27, rising by 29.76% QoQ from Rs 2.05 in Q1FY27, and increasing by 135.40% YoY from Rs 1.13 in Q2FY26. Standalone Financial Highlights: Revenue from Operations: Stood at Rs 709.04 crore in Q2FY27, increasing by 26.78% QoQ compared to Rs 559.28 crore in Q1FY27, and advancing by 65.50% YoY compared to Rs 428.42 crore in Q2FY26. Other Income: Recorded at Rs 2.80 crore in Q2FY27, dropping by 80.39% QoQ from Rs 14.28 crore in Q1FY27, and falling by 77.40% YoY from Rs 12.39 crore in Q2FY26. Total Income: Stood at Rs 711.84 crore in Q2FY27, reflecting an increase of 24.11% QoQ compared to Rs 573.56 crore in Q1FY27, and an increase of 61.48% YoY compared to Rs 440.81 crore in Q2FY26. Profit Before Tax (PBT): Stood at Rs 98.68 crore in Q2FY27, up by 45.05% QoQ from Rs 68.03 crore in Q1FY27, and higher by 285.32% YoY from Rs 25.61 crore in Q2FY26. Tax Expense: Total tax expense for Q2FY27 stood at Rs 23.67 crore, compared to Rs 18.16 crore in Q1FY27 and Rs 8.81 crore in Q2FY26. Profit for the Period (PAT): Recorded at Rs 75.01 crore in Q2FY27, registering a growth of 50.41% QoQ from Rs 49.87 crore in Q1FY27, and surging by 346.49% YoY from Rs 16.80 crore in Q2FY26. Total Comprehensive Income: Stood at Rs 75.06 crore in Q2FY27, up by 50.36% QoQ from Rs 49.92 crore in Q1FY27, and up by 344.14% YoY from Rs 16.90 crore in Q2FY26. Earnings Per Share (EPS): Basic and Diluted EPS stood at Rs 2.50 in Q2FY27, compared to Rs 1.66 in Q1FY27 (growth of 50.60% QoQ) and Rs 0.56 in Q2FY26 (growth of 346.43% YoY). Business Highlights: Segment Performance: The operations of the Company are limited to a single reportable segment, namely "Manufacturing of Transformers and Rectifiers". Therefore, segment reporting disclosures under Ind AS 108 are not applicable. New Subsidiary Incorporation: The Company incorporated a subsidiary, Maxwell Grid Transformers (UK) Private Limited, in the United Kingdom on September 4, 2026. As of the financial results approval date, the Company had not contributed any capital to this entity, operations had not commenced, and it was not included in the consolidated financial results for the period ended September 30, 2026. Subsidiaries' Contribution (in Q2FY27): Five subsidiaries reviewed by other auditors contributed total revenue of Rs 30.64 crore, net profit after tax of Rs 12.92 crore, and total other comprehensive income of Rs 12.92 crore. One subsidiary contributed total revenue of Rs 9.41 crore, net profit after tax of Rs 0.12 crore, and total other comprehensive income of Rs 0.12 crore. Satyen Mamtora, Managing Director & CEO, said: 'Our performance during Q2FY27 reinforces our confidence in the Company’s growth trajectory, supported by order inflows, improving capacity utilisation and continued progress on our expansion initiatives. The current order book provides comfortable revenue visibility, while the Changodar expansion positions us to service a larger opportunity pipeline across markets. Alongside capacity enhancement, we are strengthening our global customer engagement through our UK subsidiary, particularly across the US and European markets. Our entry into the nuclear power sector through the NPCIL Kaiga Units 5 & 6 project, along with recent orders from Damodar Valley Corporation and Gujarat Energy Transmission Corporation Limited, reflects the confidence customers place in our engineering and manufacturing capabilities. As India advances towards Viksit Bharat 2047, a resilient power grid, greater energy security and strong domestic manufacturing will be essential. We are investing in capacity, technology and backward integration to contribute to this national growth journey and to build a stronger platform for sustainable, long-term growth. With these initiatives progressing as planned, we remain on track to achieve our FY27 guidance." Result PDF