Shares of Transformers and Rectifiers (India) Limited (TARIL) experienced a significant decline of over 11%, dropping to ₹295 on the National Stock Exchange (NSE) after the company released its fourth-quarter results for the financial year 2026. The company reported a 5% year-on-year (YoY) decrease in consolidated net profit, amounting to ₹89 crore, despite a 16% increase in revenue from operations, which reached ₹783 crore. The decline in profit margins raised concerns among investors, especially as the net profit margin fell by 170 basis points to 10% and the EBITDA margin decreased by 200 basis points to 15.1%. On a standalone basis, TARIL's net profit saw a slight increase of over 1% YoY to ₹77.5 crore. The company also announced a dividend of ₹0.25 per share, although the record date for eligibility has not yet been disclosed. Despite the recent downturn, TARIL's stock has shown remarkable growth, with an increase of over 830% in the last three years and more than 3,350% over five years. Management remains optimistic about future growth, citing strong order inflows and planned capital expenditures of approximately ₹600 crore to enhance capacity and support demand.