Transformers and Rectifiers (India) Ltd shares rose 5% upper circuit on Thursday, August 22, after the firm said that it has received orders totalling $16.8 million from two international entities.

Linxon Global Sweden granted the company a $14 million contract for 18 trackside traction transformers of 20 MVA and 55 trackside autotransformers of 7.5 MVA. The full project is planned to be finished in October 2025.

Arcelor Mittal Mexico placed a second order for a 175 MVA, 66 KV electrical arc furnace transformer, valued at $2.8 million. The completion of the same is anticipated by December of the current year.

The firm said last month that it intended to generate ₹2,000 crore in sales in 2024–25, with a profit margin increase to 14% from 10% in the previous year.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

Transformers and Rectifiers (India) went up 5% at Rs 769.15 after its board allowed the launch of a qualified institutional placement (QIP) of equity shares at a floor price of Rs 699.95 per share.

The company’s board of directors authorized and declared the issue open on Monday, June 10, 2024. The floor price of Rs 699.95 is at a discount of 4.45% to the previous day’s closing price of Rs 732.55 on the BSE.

The business may give a discount of not more than five per cent on the floor price so calculated for the issue.

Transformers & Rectifiers (India) produces transformers for global and domestic markets.

In Q4 FY24, the company recorded a consolidated net profit of Rs 41.62 crore, which is much larger than Q4 FY23’s Rs 9.6 crore. In Q4 FY24, revenue from operations climbed by 16.96% to Rs 512.7 crore.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.