What we do Transformers & Rectifiers India Ltd manufactures diverse transformers including power, furnace, rectifier, and specialty types, serving power generation, transmission, industrial, and renewable sectors. |
Founded in 1,994 |
Market share Leading transformer manufacturer in India with a global footprint in over 25 countries; strong order book exceeding ₹5,100 crores. |
Problem solved Provides reliable, high-capacity transformers to support efficient power transmission, distribution, and specialized industrial applications addressing critical energy infrastructure needs. |
Top clients or who we serve B2B focus serving utilities, power grid corporations, steel plants, renewable energy firms, railways, and large industrial customers. |
Key management Mr. Jitendra U. Mamtora (Chairman), Mrs. Karuna J. Mamtora (Executive Director), Mr. Satyen J. Mamtora (Managing Director); experienced leadership nurturing growth. |
Our journey and innovations From inception in 1994, expanded manufacturing capacity, developed 400+ kV transformers, entered 765 kV segment via alliance, and acquired subsidiaries for integration and testing. |
Where we operate India (Ahmedabad-based plants) with exports to 25+ countries globally, expanding presence through subsidiaries and international projects. |
Top products or what we offer Power transformers up to 1200 kV, furnace, rectifier, distribution, specialty transformers, shunt and series reactors, mobile substations, and green energy transformers. |
Top brands - |
Raw materials needed Cold-rolled grain-oriented steel, copper/aluminum windings, insulation materials, bushings, tank fabrication materials. |
Raw materials supplier Strategic acquisition of CRGO steel processing and tie-ups for bushings, CTCs, pressboards to reduce dependence on external suppliers. |
Recurring vs cyclical contribution Revenue largely project-based and order-driven, with a mixture of recurring maintenance and cyclical new transformer orders. |
Our industry position Market leader in India; robust order book and exports; recognized for technical excellence and quality certifications. |
Financial highlights FY25 revenue ₹1,950 crores; PAT ₹187 crores; consistent growth in EBITDA margin to over 16%; Q3 FY26 revenue ₹704 crores with 10%+ PAT margin. |
Geographical revenue split Majority revenue from India (~95%), with around 5% from exports across 25+ countries. |
Order book Order book approx. ₹5,130 crores as of March 2025, diversified among utilities, EPC, industrial, exports, renewable sectors. |
Whats driving growth Demand from power infrastructure, renewable energy transformers, backward integration reducing costs, and innovation in higher voltage class transformers. |
Our future plans Expand backward integration, increase tank fabrication capacity, enter HVDC and green hydrogen transformer markets, and strengthen global footprint. |
Our green promise Manufacture of green transformers supporting renewable and green hydrogen applications; adherence to sustainability in operations. |
Our people and values Experienced leadership with commitment to operational excellence; culture emphasizes quality, innovation, and customer satisfaction. |
Key challenges ahead Managing supply chain bottlenecks, heavy raw material cost volatility, and competition; mitigation via backward integration and technological investments. |
Interesting facts First Indian company to supply 400 kV transformers to state electricity boards; developed one of the world’s largest furnace transformers. |
Risks and strategy Risk of raw material supply disruption addressed by acquiring CRGO steel unit; continued technology partnerships to maintain competitive edge. |
