NSE: TRF opened 3.36% higher at ₹304.70 after reporting a 135% jump in Q2 net profit to ₹79.8 crore, while revenue surged 60.7% to ₹739.4 crore and EBITDA hit ₹128.8 crore.
The jump follows a net profit of ₹33.9 crore and revenue of ₹460 crore a year earlier, with EBITDA rising from ₹58.9 crore; the 17.4% margin up from 12.8% reflects sharper operating efficiency, aided by a ₹131.5 crore exceptional gain.
Analysts had pencilled in ₹66.9 crore profit and ₹605.5 crore revenue; EBITDA target hovered at ₹99.7 crore, yet the company delivered ₹128.8 crore, topping forecasts across the board.
Satyen Mamtora said improved utilisation at Changodar and Moraiya plants drove the lift, added that transformer manufacturing expansion is near completion and commercial output is slated for Diwali, positioning the firm to scale up in FY27’s second half.
Order inflow hit ₹3,283 crore in H1 FY27, up 161% YoY, while the unexecuted book rose 32% YoY to ₹7,237 crore; a ₹21,000 crore inquiry pipeline and a first nuclear order for Kaiga Units 5 and 6 bolster the outlook.
The company reiterated FY27 guidance: 25% revenue growth, 16% EBITDA margin, 9–10% profit‑after‑tax margin, with backward‑integration units expected to commission by Q1 FY28; shares remain 38% off peak YTD but traded up after the announcement.