Transformers and Rectifiers (India) Ltd. - Q2 FY2026 Financial Results and Key Corporate Updates

Transformers and Rectifiers (India) Ltd. has announced its financial results for the second quarter ending September 30, 2025 (Q2 FY26), alongside significant updates to its corporate leadership. Q2 FY26 Financial Performance Analysis The company reported a stable top-line performance, with consolidated revenue for the quarter standing at ₹460 crore, compared to ₹462 crore in the corresponding period of the previous fiscal year (Q2 FY25). Operating performance and profitability, however, were impacted by significant margin pressures. EBITDA: Operating EBITDA for the quarter was ₹51.3 crore, a 27% year-on-year decline from ₹70 crore in Q2 FY25. EBITDA Margins: Margins contracted by approximately 400 basis points, narrowing to 11.15% from 15.13% in the prior-year period. This contraction reflects challenges from prevailing cost pressures and lower operating efficiency during the quarter. Net Profit: Consequently, the Profit After Tax (PAT) for Q2 FY26 declined by 24% year-on-year to text ₹34 crore, down from ₹45 crore reported in Q2 FY25. Key Management & Board UpdatesIn parallel with the financial disclosure, the company announced two key appointments aimed at strengthening its senior leadership and governance framework: Elevation of Director (Finance): Mr. Chanchal SS Rajora, who currently serves as the Chief Financial Officer (CFO) and Advisor to the Board, has been elevated to the position of Director (Finance) with immediate effect. Reappointment of Independent Director: Mr. Ajay Shriram Patil has been reappointed as an Independent Director for a second term of five years, effective November 8, 2025. This appointment was recommended by the Nomination and Remuneration Committee. Mr. Patil is a seasoned global finance leader with over 36 years of experience, currently holding the position of Global CFO at RSB Transmission (India) Ltd. and having previously served as Group CFO at Cummins India Ltd.