Transformers & Rectifiers Share Tanks 8% After Independent Director Resigns; Stock Down 35% In 1 Month

Shares of Transformers & Rectifiers (India) Ltd (TARIL) slumped sharply on Tuesday, dropping nearly 8% before closing after the company announced the resignation of its Independent Director, Ajay S. Patil. The stock opened at Rs. 303, which also turned out to be the intraday high, but persistent selling dragged the price down. By the end of the trading session, TARIL share price settled at Rs. 308.80, down 7.36%
In its regulatory filing, the company stated that Mr. Patil resigned with effect from 12 November 2025, citing existing professional and personal commitments.

"we hereby inform that Mr. Ajay S. Patil (DIN: 01217000) has submitted his resignation from the position of Independent Director of the Company, with effect from the close of business hours on 12th November 2025, citing existing professional and personal commitments. As stated in his resignation letter, Mr. Patil has confirmed that there are no reasons for his resignation other than those disclosed above." the company stated.

TARIL Share Price Performance

The share's performance over the last few session weak. Despite gaining 4.06% in the past five days, TARIL is still down 35.94% over the past month and has lost 41.68% in the last six months due to disappointing quarterly numbers.

Transformers & Rectifiers Q2 FY26 Results

In its Q2 FY26 results, Transformers & Rectifiers reported a huge decline in financial performance. The company's total income for the quarter stood at Rs. 440.81 crore, down 16.3% quarter-on-quarter from Rs. 526.96 crore. On a year-on-year basis, revenue slipped 3.7%, due to slower project execution and a moderation in transformer orders.

While total expenses decreased 14.5% QoQ to Rs. 415.20 crore, they were still 4.2% higher YoY. Profitability took a significant hit, with Profit Before Tax (PBT) plunging 38% QoQ to Rs. 25.61 crore, and dropping 57% YoY compared to the same quarter last year. Net Profit (PAT) also fell sharply to Rs. 16.80 crore, down 35.5% QoQ and 60% YoY.

About Transformers & Rectifiers (TARIL)

Transformers & Rectifiers (India) Ltd, established in 1994, is one of the country's leading transformer manufacturers, catering to domestic and international markets. Its product portfolio includes power transformers, distribution transformers, rectifier transformers, furnace transformers, speciality transformers, shunt reactors, series reactors, and mobile substations, covering voltage levels up to 1,200 kV. The company operates three manufacturing facilities in Ahmedabad, Gujarat, and employs over 1,200 people, serving a wide range of power and industrial customers under a B2B business model.