Multibagger stock: Transformers & Rectifiers soars after company bags Rs 232 crore order from Power Grid

Transformers and Rectifiers (India) Ltd (TRIL) shares were locked in the upper circuit in morning deals on Monday, after the company received a contract worth Rs 232 crore from Power Grid Corporation of India. At 11 am, the stock of the electrical equipment manufacturer were locked in the five per cent circuit, at Rs 358.7 and Rs 361.4 apiece on BSE and NSE, respectively.

"This is to inform you that Transformers and Rectifiers (India) Limited has been awarded orders of total contract value of Rs 232 crore from Power Grid Corporation of India Limited," the company said in a regulatory filing on Saturday.

The contract involves the designing and supply of five 500 MVA 400/220/33kV three-phase inter connecting transformers, and five 500 MVA 400/220/33kV three-phase auto transformers along with all fitting, accessories for complete execution and local transportation. The work will be completed within 21 months, according to the filing.

In December, the company received two orders, worth Rs 237 crore and Rs 219 crore, from Power Grid Corporation of India, and a Rs 118-crore order from Uttar Pradesh Power Transmission Corporation Ltd. 

Transformers & Rectifiers Q3 results 

Last month, Transformers & Rectifiers reported a 12.8 per cent year-on-year rise in net profit to Rs 15.6 crore for the quarter ended December 31, 2023. 

Its revenue jumped 10.56 per cent to Rs 371 crore for the December quarter, according to a filing. 

Transformers & Rectifiers share: Past performance

Transformers & Rectifiers shares have gained over 524 per cent in the past year, sharply outperforming a 27 per cent rise in the headline Nifty50 index. 

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