- Transformers and Rectifiers (India) surges 5% post Rs 232 crore order from Power Grid Corporation.
- Order includes design, engineering, and supply of 500 MVA transformers.
- Profit rises by 13% in Q4 2023, showcasing robust financial performance.
- Recent collaboration with Power Grid Corporation strengthens market presence.
- Stock price hits 52-week high, trading 10.12% below peak but up by 573.58% from 52-week low.
Rectifiers (India) Empowered Introduction :
Transformers and Rectifiers (India) saw a big increase in share price, gaining 5% in early trade on February 26. This rise happened after the company received orders worth Rs 232 crore from Power Grid Corporation of India Limited.
Share Performance :
Transformers and Rectifiers (India)’s stock reached a 52-week high of Rs 397.20 on January 25, 2024, and a 52-week low of Rs 53.00 on March 27, 2023. The stock is currently trading at Rs 357.00 on the Bombay Stock Exchange (BSE), up Rs 15.40 or 4.51% as of 9:23 a.m.
Details about the PowerGrid Order :
The newly acquired order calls for the design, engineering, construction, and testing of five 500 MVA 400/220/33kV 3-Phase ICTs, as well as five 500 MVA 400/220/33kV 3-Phase auto transformers. The order includes all fittings, accessories, and installation services. The full project is expected to be completed within 21 months following the grant notice.
Financial Performance :
Transformers and Rectifiers (India) reported a 13% increase in profit for the quarter ending December 2023, totaling Rs 15.58 crore. The increase in profitability indicates the company’s strong operational performance.
Collaboration with the Power Grid Corporation :
Earlier this month, Power Grid Corporation decided to buy 25 MVAR and 8.33MVAR 245kV shunt reactors from Transformers and Rectifiers (India) Limited’s Changodar unit. This collaboration demonstrates the two organisations’ solid partnership.
Share Price Movement :
Despite achieving a 52-week high on January 25, 2024 and a low on March 27, 2023, the company is currently trading at 10.12 percent below its peak and a stunning 573.58 percent above its low. Notably, the share price has increased by about 500 percent over the last year, suggesting investor confidence and market optimism in Transformers and Rectifiers (India).
Conclusion :
The significant order from Power Grid Corporation, as well as the outstanding financial performance, reinforce Transformers and Rectifiers (India)’s position as a market leader in power transmission and distribution. The company’s ability to acquire large-scale contracts and deliver constant growth demonstrates its strong capabilities and market demand for its products and services. Transformers and Rectifiers (India) is well-positioned for long-term success in the changing energy market, as it strengthens its alliances and expands its portfolio.