Transformers And Rectifiers India (TRIL) Is Contributing To India's Power Story

Over the last few quarters, India’s power sector has been in focus. With an increasing focus on renewable energy, there are many who believe that there would need to be a corresponding change in India’s power grid, which would need to be developed and transformed to be able to carry this power. One of the sectors which appears to have benefited as a result is the transformers industry.

Transformers play a crucial role in a power grid by facilitating the efficient transmission and distribution of electrical energy at safe voltage levels. They are essential components that transfer electric energy from one circuit to another, either stepping up or stepping down voltages as needed. In a power grid, transformers help to reduce energy losses during transmission by boosting voltage levels for long-distance transmission and then decreasing them to safe levels for consumer use.

One of the companies which makes transformers in India — and has benefited from the boom in sector — is Transformers and Rectifiers (India). Founded in 1994 by Jitendra Mamtora, Karuna Mamtora and Satyen Mamtora, the company’s stock has risen 10x in the last year, and the company now commands a market cap of over $1 billion.

TRIL has a wide product portfolio, covering a broad spectrum of transformer types. The company’s power transformer range includes auto transformers, generator step-up unit transformers, small and medium power transformers, trackside traction transformers, and auxiliary transformers. Its rectifier transformer product range includes bushing current transformer and instrument transformers. Additionally, TRIL’s distribution transformer product range covers 250 kilovolt amperes (kVA) to 1200 kVA, 11 to 33 kV. The company’s furnace transformer product range includes electric arc furnace transformer, submerged arc furnace transformer, and ladle refining furnace transformer.

TRIL operates manufacturing facilities in Moraiya, Changodar, and Odhav, all located in the city of Ahmedabad in Gujarat, which is fast becoming a hub of renewable energy in India. These facilities enable the company to produce transformers of the highest quality, including 1200 kV class transformers and reactors. The company is coming up with a new manufacturing capacity of 12,000 MVA which will be operational by Q3FY25 for renewables and green energy sector.

TRIL’s transformers have been installed in over 11,000 locations worldwide. The company’s transformers have powered Metro rail projects in cities such as Delhi, Nagpur, Cochin, Ahmedabad, Pune, and Mumbai. TRIL has also successfully designed and manufactured the world’s first 420 kV ester fluid-filled shunt reactor. As of FY24, 89% of TRIL’s revenue comes from domestic markets, while 11% is from exports.

As of the latest available data, TRIL has over 500 employees. In FY24, the company had reported revenue of Rs. 1,291 crore with a profit of Rs. 47 crore. The company has been making profits consistently since 2017.