Transformers & Rectifiers India has emerged as a stock market marvel, delivering a jaw-dropping 11,725% return over the last five years.
From a modest ₹8 in 2018, the company’s shares have soared to ₹946, making it one of the most talked-about success stories in India’s industrial sector.
Investors who put ₹1 lakh into TRIL stock five years ago would now see their investment balloon to ₹1.18 crore.
The stock’s meteoric rise has not been a one-off rally. Over the past two years, TRIL shares have climbed 1,169%, jumping from ₹74.50 to ₹946.
The company’s ability to recover sharply from market corrections has made it a favourite among investors, with significant gains accruing after each dip.
TARIL’s performance fuelled by infrastructure boom
TRIL’s remarkable performance can be attributed to its growing order book, buoyed by India’s infrastructure push and the global uptick in energy projects.
The company, a major supplier of transformers to industries and utilities, has successfully capitalized on rising power demand and government capex plans.
The December-ended quarter saw TRIL securing new orders worth ₹631 crore, pushing its unexecuted order book to ₹3,686 crore.
The company also revealed ₹19,000 crore worth of inquiries under negotiation, signaling strong demand for its products in the coming quarters.
Revival in the transformer industry has further boosted TRIL’s fortunes.
With capacity expansions in power plants, large-scale renewable energy installations, and upgrades to transmission infrastructure, the sector has gained momentum after years of sluggish growth.
Diverse portfolio and specialised transformers expanding reach
TRIL’s diverse portfolio has played a key role in its expansion.
The company supplies transformers to power generation and distribution projects, railways, renewable energy plants, and industrial manufacturing units.
Beyond its stronghold in India, TRIL has expanded its presence internationally, exporting to markets across Asia, Africa, and the Middle East.
The company’s innovative approach to renewable energy has been particularly noteworthy.
With the growing adoption of renewable power sources, TRIL has developed specialized transformers to cater to this segment.
Its technical expertise and tailored solutions have helped it carve a niche in the rapidly evolving energy landscape.
The company is now aiming to increase export revenue contribution to 25% in two years.
Steady focus on operational efficiency
Alongside strong demand, TRIL has implemented strategies to streamline operations and enhance profitability.
The company is gradually moving toward full backward integration to reduce dependency on external suppliers for critical components.
This, combined with operational optimization and cost rationalization, has further strengthened its financial position.
By leveraging its technological advancements and tapping into emerging market opportunities, TRIL has demonstrated a formula for consistent growth in a competitive industry.
The company’s rise highlights the transformative impact of a clear strategy paired with strong market fundamentals.
TARIL share price outlook for 2025
Earlier in the month, analysts at Antique Broking and Nuvama maintained their “buy” rating on the stock.
Antique raised its price target on the stock from Rs 1,187 to Rs 1,424. The brokerage said that it expects the company to report exponential growth over the next three years, with revenue and PAT rising by 3.6x and 10x in FY27 from the base of FY24.
Nuvama also raised its 12-month target price to Rs 1,450 from Rs 980.
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