>Transformer & Rectifier India Ltd: RESULT UPDATE 1QFY11

Transformer & Rectifiers India Limited’s (TRIL) Q1FY11 results were tad lower than our expectation in terms of revenue and earnings. TRIL registered a muted performance on revenue front as it registered a top line of ` 85.56 Crores as compared to ` 85.94 Crores in the same quarter last year. Sales in volumes terms declined by 2% to 1591 MVA as compared to 1616 MVA in the same quarter last year, while the realizations slightly improved by 1% to ` 5.24 lakh per MVA from 5.18 lakh per MVA in the same quarter last year. Realizations improved in the quarter on account of some good private industrial order execution where the realizations were as high as ` 8-9 lakhs per MVA.

On a sequential basis, the revenues declined by 60.5% where as net profit declined by 57%. Operating profit during the quarter has decline marginally by 2.06% to ` 14.73 Crores as compared to ` 15.04 crores in the same quarter last year. The company able to maintain the margins despite 270 bps increase in the raw material cost, as it was able to manage its other cost efficiently.

TRIL has an order book position of ` 3726 mn (8700 MVA), which the company plans to execute within next 6 months.

To read the full report: TRIL