Transformers and Rectifiers (India) Ltd shares plunged 20% on November 10, 2025, to ₹314.20

shares plunged 20% on November 10, 2025, to ₹314.20, hitting the lower circuit and marking a new 52-week low following a disappointing Q2 FY26 result and a World Bank debarment. The company reported flat revenue at ₹460 crore year-on-year with consolidated net profit falling 19% to ₹37 crore, and EBITDA declining 26% to ₹52 crore. Margins contracted sharply due to sticky employee costs, with EBITDA and PAT margins dropping to 11% and 8% respectively.