Transformers & Rectifiers Wins ₹166.45 Crore Order

24 Feb 2025 , 10:05 AM

Transformers and Rectifiers (India) Ltd has received a new order worth ₹166.45 crore from Hyosung T&D India Private Ltd, the company announced on February 18.

The contract is for manufacturing and supply of single phase coupling transformers and single-phase transformers for transmission projects under the TBCB (tariff-based competitive bidding) model.

The order’s receipt was confirmed in a stock exchange filing from the company, which-called the order “strategically important.” The company’s order execution is scheduled for the new financial year, indicating a stable revenue stream for the company. Transformers and Rectifiers clarified that its promoter group does not have any direct or indirect interest in Hyosung T&D India Private Ltd.

In January, the company’s board approved a 1:1 bonus issue which meant one bonus share would be granted to shareholders for every share held.

This is the first-ever bonus issue after 2013, when the company had issued one bonus share for every nine shares.

The bonus issue was announced with the company’s December quarter results and a fundraising proposal.

It will also be able to raise ₹750 crore through a Qualified Institutional Placement (QIP) after getting the nod from its board, enabling it to sell its shares to eligible institutions.

The fundraising effort is anticipated to solidify the company’s financial footing and enable regional expansion.