The contract has been awarded by a domestic entity and is scheduled to be executed over the next 30 months, in accordance with the terms and conditions specified in the NOAs.

The company said it remains committed to delivering high-quality products and services and has established itself as one of the country's leading transformer manufacturers over time. The company further clarified that neither its promoter nor promoter group has any interest in PGCIL, and the contract does not constitute a related-party transaction.

Transformers and Rectifiers (India) is a leading manufacturer of transformers and reactors. It caters to power generation, transmission, distribution, and industrial sectors on a B2B model. The company’s consolidated net profit declined 5.2% to Rs 89.28 crore despite a 15.7% increase in revenue from operations to Rs 782.67 crore in Q4 FY26 over Q4 FY25.