Transformers and Rectifiers gains after bagging order

Transformers and Rectifiers (India) gained 4.79% to Rs 353.50 at 11:15 IST on BSE after the company announced that it has been awarded the order for power transformers amounting to Rs 92 crore.

The announcement was made after market hours on Friday, 30 December 2016.

Meanwhile, the BSE Sensex was down 150.98 points, or 0.57%, to 26,481.26.

On the BSE, so far 6,255 shares were traded in the counter, compared with average daily volume of 5,771 shares in the past one quarter. The stock had hit a high of Rs 365 and a low of Rs 348.60 so far during the day. The stock had hit a 52-week high of Rs 389 on 10 November 2016. The stock had hit a 52-week low of Rs 196 on 29 February 2016.

The stock had underperformed the market over the past one month till 30 December 2016, sliding 6.59% compared with 0.1% drop in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 8.78% as against Sensex's 4.45% fall.

The small-cap company has equity capital of Rs 13.26 crore. Face value per share is Rs 10.

Transformers and Rectifiers (India) announced that the company has been awarded the order for 40 numbers of 15 MVA and 40 numbers of 20 MVA power transformers with natural/synthetic ester oil of 66 kV class amounting to Rs 92 crore from Gujarat Energy Transmission Corporation.

The order falls under the normal course of business. The company neither has any interest in the entity that awarded the order nor fall within related party transactions. With this order, the company's order book as on date stands around Rs 960 crore.

Transformers and Rectifiers (India) (TRIL) reported net profit of Rs 9.60 crore in Q2 September 2016 as against net loss of Rs 2.35 crore in Q2 September 2015. Net sales rose 90.2% to Rs 261.93 crore in Q2 September 2016 over Q2 September 2015.

TRIL manufactures a wide range of transformers for the domestic and the international market.

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