Transformers and Rectifiers (India) Ltd. (TRIL) [NSE: TRIL, BOM: 532928], a Gujarat-based transformer manufacturing company, has announced its financial results for the quarter and year ended 31st March 2023.
TRIL’s Standalone FY23 Financial Figures
For the quarter ended 31st March 2023, TRIL clocked a standalone revenue of Rs. 425.47 crore from operations. Profit After Tax (PAT) of the company stood at Rs. 8.82 crore in the last quarter of FY-23. Further, Earnings Per Share (EPS) reported by the company for Q4 FY-23 was Rs. 0.67.
Considering entire 2022-23 financial year, TRIL recorded Rs. 1,359.86 crore as revenue from operations and Rs. 37.09 crore as PAT. The company’s EPS for the 2022-23 fiscal stood at Rs. 2.80.
TRIL’s Consolidated FY-23 Financial Numbers
YoY Comparison of TRIL’s Financials: Q4 FY-23 vs Q4 FY-22 & FY-23 vs FY-22
On a Year-over-Year (YoY) basis, TRIL’s Q4 consolidated revenue grew by 27.34% to Rs. 433.75 crore in FY-23 from Rs. 340.62 crore in FY-22.
Further, for Q4 of FY-23, Transformers & Rectifiers reported PAT of Rs. 9.60 crore against the company’s Q4 PAT of Rs. 0.37 crore in FY-22.
For Q4 of FY-23, the company logged EPS of Rs. 0.68, which is 6.8 times the company’s Q4 EPS of Rs. 0.10 in FY-22.
Considering the entire year, TRIL reported an income from operations of Rs. 1,380.85 crore during FY-23 as compared to Rs. 1,161.75 crore in FY-22. This shows a healthy growth of 18.86%.
The company’s PAT for FY23 was 2.97 times higher than TRIL’s PAT recorded in FY22. TRIL clocked PAT of Rs. 42.35 crore in FY23 in contrast to Rs. 14.28 crore in FY22.
The company’s EPS stood at Rs. 3.07 in FY-23 as compared to Rs. 1.06 in FY-22.
QoQ Comparison of TRIL’s Financials: Q3 FY-23 vs Q4 FY-23
Quarter-over-Quarter (QoQ) comparison of TRIL’s revenue reflects a significant growth by 32.12% from Q3 to Q4 of FY-23, up from Rs. 328.29 crore.
Further, PAT of the company fell by 32.01% from Rs. 14.12 crore reported during the second last quarter of FY-23.
TRIL’s Insights on its FY23 Financial Performance
As per TRIL’s investor presentation on its Q4 FY-23 results, the Utilities and Industrial divisions contributed approximately 95% of the company’s revenue for the last quarter of FY-23 and 94% during the entire 2022-23 fiscal.
Further, exports contributed 5% to the total revenue in the closing quarter of FY-23, about 6% for the year ended 31st March 2023.
Considering the company’s order book, TRIL had orders worth Rs. 1,773 crore in hand as of 31st March 2023.
About TRIL’s future investment plans, the presentation stated, “The company has planned Capex to the tune of 70 Cr. for enhancing the production capacity in the Changodar Plant in FY 2023-24”.
About Transformers and Rectifiers: TRIL was incorporated in 1994 and has its headquarters in Ahmedabad, India. It manufactures power transformers, distribution transformers, furnaces, and rectifier transformers. The company has three manufacturing facilities in Western India, namely, Moraiya, Changodar, and Odhav in Ahmedabad.