On January 8, Transformers and Rectifiers saw its share price tumble about 9%, even though the company posted a strong rise in profit and revenue for the December quarter.
Share price reaction
The stock opened at ₹324.35, hit a high of ₹326.50, fell to a low of ₹284, and closed at ₹291.85, marking a 9.15% decline for the day.
Quarterly financial highlights
- Profit: ₹73.85 crore, up ~35% year‑on‑year.
- Revenue: ₹736.76 crore, up ~31.7% YoY.
- EBITDA: ₹129.24 crore, up ~38% YoY.
- EBITDA margin: 17.54%, an improvement of 78 basis points.
Leadership change
The board announced that CEO Mukul Srivastava resigned for personal reasons effective January 7, 2026. Satyen J. Mamtora, the current Managing Director, will take over as CEO from January 8, 2026.
Broader market context
At the same time, Reuters reported that the Finance Ministry may lift a five‑year ban on Chinese firms bidding for Indian government contracts. The news pushed down shares of several heavy‑equipment makers, such as BHEL (‑10.34%), Hitachi Energy India (‑5.88%) and ABB India (‑4.86%).
Recent stock performance
Over the past two years, the shares have delivered more than 112% returns, and over three years the gain is close to 920%. In five years the stock is up about 2,863%. However, the past year has seen a decline of over 50% as investors took profits.
What this means for you
The numbers look solid, but the sharp price drop shows that market sentiment can be volatile, especially when leadership changes or policy news hit the sector.
Remember, this is just my take, not a prediction. Do your own research and consider talking to a qualified advisor before making any investment moves.