Transformer & Rectifier Shares Crash 54% From 52-Week High, Fall 5% Today; Should Investors Buy the Dip?

Shares of Transformers & Rectifiers (India) Ltd (TRIL) came under fresh selling pressure on Tuesday, sliding over 5% during the session and snapping a three-day winning streak. The fall comes after the capital goods stock had rallied nearly 30% in recent sessions before a sharp reversal today.

Both the benchmark indices, Sensex and Nifty 50, are also trading in the red today, leading to negative sentiment across capital goods and infrastructure stocks.

At the time of writing, the Sensex was trading at 84,769.50, down 443.86 points or 0.52%, while the Nifty 50 slipped to 25,893.45, losing 133.85 points or 0.51%.

Transformer & Rectifier Share Price Today

During Tuesday's trading session, Transformers & Rectifiers shares were trading at Rs. 301.80, down Rs. 4.50 or 1.47% at the time of writing. Despite the recent rebound, the stock remains deeply in the red on a longer-term basis. TARIL shares are down 38.96% over the past 6 months and 49.45% year-to-date. The stock has crashed nearly 54% from its 52-week high.

Why Are Transformer & Rectifier Shares Falling?

The decline in TRIL stock price began last month after the company reported a weak set of numbers for the September quarter (Q2 FY26). Since then, the stock has remained under pressure, with only brief relief rallies due to short-term buying.

Transformer & Rectifier Q2 FY26 Results

For the quarter ended September 30, 2025, Transformers & Rectifiers India Ltd reported a 13.8% quarter-on-quarter decline in consolidated revenue. On a year-on-year basis, revenue growth was largely flat at 0.1%, indicating subdued demand conditions.

Expenses declined 6.6% QoQ but increased 4.7% YoY, offering limited cost relief. The bigger concern was profitability, as net profit fell sharply by 44.6% QoQ and 18.6% YoY. The company's earnings per share (EPS) stood at Rs. 1.13 for Q2 FY26, significantly lower than previous quarters.

Antique in its report gave a BUY rating to the stock and said, "We cut our FY26E/27E/28E earnings estimates by 27%/26%/20%, respectively, and maintain a BUY rating on the stock with a revised TP of INR 491 (38x 1HFY28 EPS; earlier TP INR 700). We believe that TARIL would bounce back once all the backward-integrated facilities become operational from FY27 and supply chain bottlenecks are resolved."

About Transformers & Rectifiers India Ltd (TRIL)

Founded in 1994, Transformers & Rectifiers (India) Limited is a well-known player in India's power equipment space. The company specialises in manufacturing a wide range of transformers, including power transformers, distribution transformers, rectifier transformers, furnace transformers, speciality transformers, shunt and series reactors, and mobile substations, with capabilities extending up to the 1,200 kV class.

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