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TRIL Posts Q2 FY-24 Financials: Revenue Down 20%, PAT Slumps 84% YoY

TRIL, Transformers & Rectifiers (India) Ltd logo

Transformers and Rectifiers (India) Ltd. (TRIL) [NSE: TRIL, BOM: 532928], a Gujarat-based transformer manufacturing company, has announced its financial results for second quarter of FY-24.

TRIL’s Standalone Financial Results for Q2 FY-24

Transformers and Rectifiers reported Rs. 254.37 crore as its standalone revenue from operations for Q2 of FY-24, whereas the corresponding Profit After Tax (PAT) of the company stood at Rs. 3.04 crore.

Earnings Per Share (EPS) of the company was Rs. 0.37 for the second quarter of FY-24.

TRIL’s Q2 FY-24 Consolidated Financial Performance

YoY Comparison of TRIL’s Financial Numbers: Q2 FY-24 vs. Q2 FY-23

Comparison of TRIL’s Financials: Q2 FY-23 vs. Q2 FY-24 vs. Q1 FY-24

TRIL earned Rs. 257.06 crore as its consolidated revenue from operations for Q2 of FY-24. This reflects a Year-over-Year (YoY) drop of 20.91% from Rs. 325.03 crore revenue logged by the company during Q2 of FY-23.

The company’s Q2 PAT slumped drastically by 84.51% to Rs. 1.89 crore during FY-24 from Rs. 12.20 crore reported during FY-23.

EPS of the company during Q2 of FY-24 stood at Rs. 0.12 against Rs. 0.87 during Q2 of FY-23.

QoQ Comparison of Transformer and Rectifiers’ Financials: Q2 FY-24 vs. Q1 FY-24

QoQ Transformers and Rectifiers’ revenue from operations for Q2 of FY-24 showed a strong growth of 65.24% from Rs. 155.57 crore which was clocked during Q1 of FY-24.

Further, the company made Rs. 1.89 Cr. profit in Q2 FY24 against a loss of Rs. 12.21 crore during first quarter of FY-24.

Insights of TRIL on its Q2 FY-24 Financial Performance

During the company’s earnings call for its Q2 FY-24 financial performance, Mr. Satyen Mamtora, Managing Director of TRIL, said, “ The order book continues to be strong as of 30th September 2023. Unexecuted order book is to the tune of Rs.2,145 crores with 34% of the orders from central utilities, 11% from state utilities, 40% from industrial customers, 9% from renewables, and 6% from export”. He further added that the company secured new orders totaling Rs. 314 crore during the quarter, representing a 23% increase YoY.

About Transformers and Rectifiers (India) Limited: 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.