Transformers and Rectifiers India Q2 FY27: Margin Trend and Valuation

Track the latest Transformers and Rectifiers (India) Ltd. share price on Univest. Any reader researching the Transformers and Rectifiers India Q2 results should treat the figures above as historical reference points.

This Transformers and Rectifiers India Q2 results preview looks at the power and transformer equipment maker's recent quarterly numbers ahead of its results for the quarter ended September 30, 2026. The company's operating margin has moved in a fairly narrow band over the last five quarters, with one clear dip along the way that has since reversed. This Transformers and Rectifiers India Q2 results outlook is based only on historical, already-reported figures.

Transformers and Rectifiers India Q2 Results Date

The Transformers and Rectifiers India Q2 results date for the September 2026 quarter is yet to be announced. Companies in the power equipment and capital goods space typically report September-quarter results in the October to November window, and this company is expected to follow a similar timeline once its board meeting is formally disclosed. Readers following the Transformers and Rectifiers India Q2 results should note that no forward estimate is implied here.

Transformers and Rectifiers India Q2 Results Expectations

Transformers and Rectifiers India Q2 results expectations for the September 2026 quarter should be framed around the margin and order-execution trend visible in the reported data rather than a specific revenue or profit figure, since no verified estimate exists for this stock. The company's operating margin dipped to its lowest point in the five-quarter window in Sep 2025, at 11.3%, before recovering in the following three quarters. Whether that recovery trend holds into the September 2026 quarter is the main factual question to watch, without assuming any particular outcome. The Transformers and Rectifiers India Q2 results discussion above draws entirely on numbers the company has already disclosed.

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Previous Quarter (Jun 2026 / Q1 FY27) Performance

In the quarter ended June 2026, Transformers and Rectifiers India reported revenue of Rs 572 crore, an operating profit of Rs 93 crore at a 16.26% operating margin, and a net profit of Rs 64 crore. This followed a stronger Mar 2026 quarter and continued the margin recovery that began after the Sep 2025 dip. For context on the Transformers and Rectifiers India Q2 results, the preceding quarterly figures are all historical, not projected.

Q2 FY26 (Sep 2025) Base Quarter

The year-ago quarter, Sep 2025, is the weakest quarter in the current data set on margin terms. Revenue was Rs 460 crore, the operating margin fell to 11.3%, the lowest of the five quarters shown, and net profit came in at Rs 37 crore. This will be the base for the year-on-year comparison when the September 2026 results are announced. This section of the Transformers and Rectifiers India Q2 results coverage relies solely on reported data, not analyst forecasts.

Recent Trend: Jun 2025 to Jun 2026

Revenue moved from Rs 529 crore in Jun 2025 down to Rs 460 crore in Sep 2025, then up to Rs 737 crore in Dec 2025, Rs 783 crore in Mar 2026, and Rs 572 crore in Jun 2026. Operating margin followed a dip-and-recovery pattern: 16.64% in Jun 2025, falling to 11.3% in Sep 2025, then recovering to 16.96% in Dec 2025, 15.07% in Mar 2026, and 16.26% in Jun 2026. Net profit tracked this pattern too, moving from Rs 67 crore to Rs 37 crore and back up to Rs 76 crore, Rs 91 crore and Rs 64 crore across the same five quarters. The Transformers and Rectifiers India Q2 results trend described here reflects only what has already been reported to exchanges.

Key Factors

The main factor visible in Transformers and Rectifiers India's recent numbers is the margin dip in Sep 2025 followed by a steady recovery across the next three quarters. No exceptional or one-off item has been flagged for that dip in the data reviewed for this preview. As a power and transformer equipment maker, the company's revenue and margins are also tied to order execution timing and input costs, which can vary from quarter to quarter. Any reader researching the Transformers and Rectifiers India Q2 results should treat the figures above as historical reference points.

Valuation

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Transformers and Rectifiers India trades at a price-to-earnings ratio of 33.23, with earnings per share of Rs 8.59. The price-to-book ratio is 5.65 against a book value of Rs 50.5 per share, return on equity stands at 19.1%, and the debt-to-equity ratio is 0.3. The stock's CMP is Rs 285.55, within a 52-week range of Rs 224.05 to Rs 552, and below both its 50-day moving average of Rs 298.73 and its 200-day moving average of Rs 296.64. The RSI reads 28.7. Market capitalisation is Rs 8,585 crore, and the dividend yield is 0.09%. As with the rest of this Transformers and Rectifiers India Q2 results preview, the numbers cited are drawn from public filings.

What to Watch

Ahead of the Transformers and Rectifiers India Q2 results for FY27, the key things to track are whether the operating margin holds near the 15-16% band seen in the last three reported quarters, or reverts toward the lower Sep 2025 level, and how order inflows and execution in the power transmission and distribution equipment segment are trending industry-wide. This Transformers and Rectifiers India Q2 results outlook is based only on historical, already-reported figures.

Conclusion

Transformers and Rectifiers India goes into its Q2 FY27 results with a margin trend that dipped in Sep 2025 and has since recovered over three consecutive quarters through Jun 2026. This is a factual summary of reported numbers, not a forecast for the September 2026 quarter, and readers should refer to the company's own filings once the results date is confirmed. Readers following the Transformers and Rectifiers India Q2 results should note that no forward estimate is implied here.

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This article is for informational purposes only and does not constitute investment advice or a recommendation to buy, sell or hold any security. Univest is a SEBI-registered research analyst, registration number INH000013776. Figures cited are sourced from the company's reported financials and public exchange data as available at the time of writing and may change. Please read all related documents carefully and consult a SEBI-registered advisor before making any investment decision. Investments in securities are subject to market risks.

When is the Transformers and Rectifiers India Q2 results date for FY27?

Ans. The Transformers and Rectifiers India Q2 results date for the quarter ended September 2026 has not been announced yet. Results are typically reported between October and November. The Transformers and Rectifiers India Q2 results discussion above draws entirely on numbers the company has already disclosed.

What are the Q2 results expectations for Transformers and Rectifiers India in FY27?

Ans. There is no numeric estimate available. The key factor to watch is whether the operating margin recovery seen since the Sep 2025 dip continues into the September 2026 quarter. For context on the Transformers and Rectifiers India Q2 results, the preceding quarterly figures are all historical, not projected.

Why did Transformers and Rectifiers India's margin dip in Sep 2025?

Ans. The operating margin fell to 11.3% in Sep 2025, the lowest of the five quarters in this data set, with no exceptional item flagged. Margins recovered in the following three quarters through Jun 2026. This section of the Transformers and Rectifiers India Q2 results coverage relies solely on reported data, not analyst forecasts.

What is Transformers and Rectifiers India's current valuation?

Ans. The stock trades at a PE ratio of 33.23 and a price-to-book ratio of 5.65, with return on equity of 19.1% and debt-to-equity of 0.3. Market capitalisation is around Rs 8,585 crore. The Transformers and Rectifiers India Q2 results trend described here reflects only what has already been reported to exchanges.