Stock hits 5% upper circuit after it supplies world’s 3rd largest transformer to a steel manufacturer

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Stock hits 5% upper circuit after it supplies world’s 3rd largest transformer to a steel manufacturer
Credit: © Reuters.

The shares of a leading electrical equipment firm touched a 5 percent upper circuit after the company supplied the World’s Third Largest Transformer to a steel plant.

At 12:15 p.m., On Monday’s trading session, Transformers and Rectifiers India Ltd shares touched 5% upper circuit to ₹650.55 a piece on the National Stock Exchange. The company has a market capitalization of Rs 8,833 crores.

The fluctuations in the share prices were observed after the company announced that they had successfully tested and supplied their world’s Third Largest 220 MVA Electric Arc Furnace Transformer to one of the world’s leading Company engaged in production of steel plants. according to a company filing.

Looking into the company’s financial performance the net profits have increased by 333 percent from a profit of Rs 9.6 crores in Q4FY23 to Rs 41.62 crore in Q4FY24. Additionally, its revenues increased by 16.8 percent from Rs. 438 crore to Rs. 512 crore for the same time frame.

The company’s EBITDA margin witnessed a 109 percent rise from Rs 31 cores in Q4FY23 to Rs 65 crores in Q4FY24. Also, The EPS saw a rise from 0.67 per share to 2.50 per share for the same time period.

In FY23-24, the company’s Return on Capital Employed (RoCE) stood at 14.78 percent and its Return on Equity (RoE) was 9.91 percent, for the same time frame.

The shares of this company generated an overall return of 688 percent over the past year and 231 percent over the past 6 months.

As of March 2024, its shareholding pattern stood at 69.65 percent for promoters, 24.01 percent for the public, 1.89 percent for domestic institutional investors, and 4.45 percent for foreign institutional investors.

Incorporated in 1994 (formerly known as Triveni Electric Company Limited), Transformers and Rectifiers (India) Limited, is a leading supplier in the electrical equipment industry. The company is primarily engaged in the business of producing and manufacturing various transformers, including power, distribution, furnace, and rectifiers. The company is present in over 25+ countries globally.

Written by Zahal Riyas

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