Transformers and Rectifiers (India) shot up 5% on Thursday after the company won a ₹141 crore order.

What Happened:  Transformers and Rectifiers in their regulatory filing said it won export orders from international entities worth $16.8 million (around ₹141 crore). 

The company won a $14 million (around ₹117 crore) to supply 18 trackside traction transformers of 20 mega volt amps each and 55 track side auto transformers of 7.5 mega volt amps each from Linxon Global Sweden. The work is expected to be completed by October 2025.

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Transformers and Rectifiers also won an order worth $2.8 million (around ₹23 crore) from Arcelor Mittal Mexico to supply 175 mega volt amps, 66 kilovolt electrical arc furnace transformer. This order shall be completed by December 2024, the company added in the regulatory filing. 

In its June quarter results, the company reported a net profit of ₹20.09 crore compared to the loss of ₹12.61 crore in the previous year. Transformers and Rectifiers' revenue more than doubled to ₹322 crore from the June quarter of previous year. 

The company as of June quarter had an order book of ₹2,926 crore. 

Price Action: Shares of rose 5% to hit the upper circuit at ₹709.85 on Thursday. 

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