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Transformers & Rectifiers India Ltd: Powering Tomorrow\'s Progress
Transformers & Rectifiers India Ltd: Powering Tomorrow\'s Progress

Transformers & Rectifiers India Ltd: Powering Tomorrow\'s Progress

Rishabh Beli Rishabh Beli
Rishabh Beli

As an Equity Analyst, I specialize in unearthing hidden opportunities in both equity and u... As an Equity Analyst, I specialize in unearthing hidden opportunities in both equity and unlisted markets. Trusted by prestigious family offices managing portfolios exceeding 100 Cr in value, I offer strategic guidance and keen insights, uncovering lucrative prospects often overlooked by others in the field. Read more

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16 Nov, 2023
TARIL
Current Price: ₹418.85
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Summary

Transformers & Rectifiers India Ltd (TRIL), established in 1994, has become a key player in India's transformer industry, blending innovation, engineering precision, and quality commitment. With cutting-edge facilities in Changodar and Odhav, TRIL showcases manufacturing prowess and comprehensive testing infrastructure. The diverse product portfolio includes power, distribution, rectifier, furnace, and specialty transformers, indicating adaptability to various power needs. TRIL also contributes to switch gears and instrument transformers, offering vital components for efficient power systems. The company's dedication to customization, advanced testing, and adherence to global standards positions it as a reliable and innovative transformer solutions provider, crucial for India's evolving power infrastructure.


In the expansive landscape of India's industrial sector, Transformers & Rectifiers India Ltd (TRIL) has emerged as a stalwart in the realm of power solutions. Established in 1994, TRIL has seamlessly integrated innovation, precision engineering, and a commitment to quality into its DNA, establishing itself as a leading player in the Indian transformer industry.

Foundations and Growth:

TRIL's journey began with its incorporation in 1994, and since then, the company has etched its name in the annals of the Indian transformer industry. The cornerstone of TRIL's success lies in its ability to manufacture a diverse range of transformers that meet the stringent quality requirements of both the domestic and international markets.

The company's manufacturing prowess is showcased at its state-of-the-art facilities in Changodar, near Ahmedabad, and Odhav. The Changodar facility spans 25,000 square meters, boasting a built-up area of 7200 square meters. This facility is equipped with cutting-edge equipment, managed by a highly skilled team, and has an annual manufacturing capacity of 7000 MVA. The Odhav facility, covering 1500 square meters with a built-up area of 600 square meters, complements the Changodar facility with its focus on transformers up to 15 MVA, 66 KV class.

The technological sophistication of TRIL's facilities is evident in its testing capabilities. With facilities that include a 1200 kVp impulse generator for impulse tests, a capacitor bank for load loss tests, and a voltage divider for higher voltage tests, TRIL stands among a select few in India with such comprehensive testing infrastructure. This positions the company as a reliable manufacturer of transformers for both domestic and export markets, meeting the exacting standards of various industries.

Diverse Product Portfolio:

TRIL's product portfolio encompasses a wide spectrum of transformers, each tailored to meet specific power-related needs. The company's commitment to providing comprehensive solutions is reflected in its offerings across various categories:

  1. Power Transformers: Ranging up to 200 MVA and 245 kV class, power transformers are indispensable components in electrical engineering. These transformers play a pivotal role in optimizing the efficiency of electricity transmission by stepping up or stepping down voltage levels.

    • Generator Transformer: Specialized for connecting electrical generators to the power grid, stepping up the generated voltage for efficient long-distance transmission.
    • Unit Auxiliary Transformer: Supplies auxiliary power to various units and systems within power plants, ensuring the operation of essential equipment.
    • Station Auxiliary Transformer: Similar to unit auxiliary transformers but used in substations to provide power to auxiliary systems and equipment.
    • Interconnecting Transformer (Auto Transformer): Also known as an autotransformer, it interconnects different voltage levels within a power system, providing a cost-effective solution for varying voltage requirements.

    TRIL also manufactures trackside transformers for railways, vital in supplying power to trains by stepping down high voltage from overhead lines.

  2. Distribution Transformers: With ratings of 160 kVA, 11 kV/0.433 kV, and above, distribution transformers are crucial in the electricity distribution network. They facilitate the seamless transfer of power from high-voltage transmission lines to lower-voltage distribution lines.

    • Pole-Mounted Transformers: Commonly seen in residential areas, mounted on utility poles to serve neighborhoods and small communities.
    • Pad-Mounted Transformers: Installed on the ground within an enclosure, often used in urban areas and locations with limited space.
    • Substation Transformers: Larger transformers used in substations to further reduce voltage for distribution to industrial and commercial areas.

    The design and construction of distribution transformers involve core and coil assemblies, with cooling systems such as oil-cooled or dry-type, emphasizing efficiency and low energy losses.

  3. Rectifier Transformers: Tailored for DC power sources in melt and chemical industries, rectifier transformers are crucial for converting AC to DC. TRIL's product range includes transformers with different configurations, including six-pulse transformers and twelve-pulse transformers.

    • Six Pulse Transformer with IPT (Isolated Phase Tap): Connected to a six-pulse rectifier, commonly used for converting AC to DC in power systems.
    • Twelve Pulse with IPT (Double Deck Construction): Configured with two sets of six-pulse rectifiers in parallel with a phase shift, reducing harmonics in the output waveform.

    The inclusion of terms like Isolated Phase Tap and Double Deck Construction reflects the precision and specificity in TRIL's transformer design.

  4. Furnace Transformers: With a capacity of up to 63 MVA, furnace transformers cater to high-temperature industrial processes such as metal smelting and heat treatment. TRIL's product range includes transformers for arc furnaces, submerged arc furnaces, ladle furnaces, and induction furnaces.

    • Arc Furnace Transformer: Used in electric arc furnaces for high-temperature metal melting.
    • Submerged Arc Furnace Transformer: Utilized in submerged arc furnaces for the reduction of various raw materials.
    • Ladle Furnace Transformer: Employed in ladle furnaces for refining molten steel.
    • Induction Furnace Transformer: Used in induction furnaces that heat metal using electromagnetic induction.
    • DC Arc Furnace Transformer: Specifically designed for DC arc furnaces using direct current for the electric arc.

    TRIL's specialization in furnace transformers underscores its commitment to addressing the unique needs of industrial applications.

  5. Specialty Transformers: Catering to specific and demanding requirements, specialty transformers are designed for applications with high currents, voltages, and specialized cooling needs.

    • Converter Duty Transformers: Designed for motor drive applications with 2 to 40 secondary windings, customized for low and medium voltage drives, and equipped to mitigate harmonics.
    • Earthing Transformer: A special-purpose transformer with a zigzag or interconnected star winding, used for providing earth fault protection where the neutral is not available.
    • Testing Transformer: Customized for electrical testing of various products, equipped with multiple windings and tappings for different testing combinations.

    The emphasis on customization, advanced cooling systems, and integration with smart grids showcases TRIL's adaptability and foresight in addressing evolving industry needs.

Switch Gears and Instrument Transformers:

In addition to its extensive range of transformers, TRIL also plays a crucial role in the production of switch gears and instrument transformers, contributing to the overall efficiency and safety of electrical power systems.

Instrument Transformers:

Instrument transformers serve a critical function in electrical power systems by transforming high voltage and current levels into standardized values suitable for measurement and protection devices. TRIL offers two main types of instrument transformers: Current Transformers (CTs) and Voltage Transformers (VTs).

Bushing Current Transformers (BCTs):

BCTs are specialized devices used in power systems to measure and monitor current. These transformers are designed to be mounted onto a high-voltage bushing shank along the ground collar, inside the tank of a power transformer, power circuit breaker, or voltage regulator. They find application in systems that use oil as the insulating medium and can be used on higher system voltage levels while maintaining a 600 Volt class rating.

Key Features of BCTs:

  1. Applications: BCTs are designed for mounting on high-voltage bushings in various power system components, ensuring accurate current measurement and monitoring.

  2. Construction: BCTs consist of a toroidal core made of cold-rolled grain-oriented electrical grade silicon steel. The stress relief anneal after winding ensures precise dimensions, and the secondary winding is made of enamel-insulated copper wire over the cellulose-insulated core.

  3. Size Selection: Each BCT is custom-designed based on specific applications, considering factors such as current ratio, accuracy class, power frequency, and equipment details.

  4. Limiting Dimensions: The limiting dimensions include minimum ID, maximum OD, and maximum stack height. The CT configuration is crucial when stacking multiple BCTs on the same bushing.

  5. Rating Factor: The Rating Factor is determined by stating the maximum current rating of the bushing. It is a critical parameter to ensure the BCT's reliability under different operating conditions.

  6. Customization Options: TRIL's BCTs offer various customization options, including different accuracy classes (metering, protection, special protection, etc.), winding arrangements (Single Ratio, Dual Ratio, or Multi Ratio), and additional options like primary current up to 6300 Amps and a higher temperature class rating of 155°C.

Condenser Bushings:

Condenser bushings play a vital role in high-voltage electrical equipment, providing electrical insulation and structural support. These bushings are designed to withstand and isolate high voltages, preventing electrical arcing and ensuring the safe operation of the equipment. They are commonly found in transformers and circuit breakers.

Manufacturing Process Overview:

TRIL follows a meticulous manufacturing process for condenser bushings to ensure their reliability and performance. The process includes routine testing, core winding using automated machines, assembly with components like air end porcelain insulators and oil end epoxy insulators, tie rod assembly for sealing, and a thorough drying and impregnation process.

Key Features of Condenser Bushings:

  1. Voltage Range: Condenser bushings are designed to handle high voltage levels, providing reliable insulation in transformers and circuit breakers.

  2. Uniform Voltage Distribution: The capacitance properties of condenser bushings contribute to a uniform distribution of voltage along their length, preventing electrical stress concentrations.

  3. Heat Dissipation: Filled with insulating oil, condenser bushings efficiently dissipate heat generated during operation, contributing to their thermal stability.

  4. Versatile Design: Condenser bushings come in various designs, including plain and corrugated types, catering to different applications and environmental conditions.

  5. Sealing Mechanism: The tie rod assembly with "O" rings ensures a robust sealing mechanism, maintaining the integrity of the bushing at high operating temperatures.

  6. Testing and Quality Assurance: Rigorous testing, including Partial Discharge measurements, Capacitance & Tanδ measurements, routine electrical testing, and high-voltage tests, ensures the reliability and performance of condenser bushings.

  7. Maintenance: Regular monitoring through tests like power factor measurement and insulation resistance tests is crucial for proactive maintenance, helping detect potential issues and ensuring the long-term reliability of associated power systems.

Financials

Last quarter is turnaround quarter for the comapny, as sales rebvounded andnoperating profit also took a sharp U turn from Just 6 Cr to 21 Cr. PAT is also positive from September quarter. 

Sales is increasing with 10% CAGR since last 10 years, similarly 17% operating Profit and 21% PAT. Company is consistently improving its financial health.

Applications of Instrument Transformers:

Instrument transformers find applications across various sectors, ensuring the accurate measurement of electrical parameters and the reliable operation of protective devices. They are essential components in power systems, providing standardized values for instruments and protective relays.

Applications of Instrument Transformers:

TRIL's diverse product portfolio, spanning power transformers, distribution transformers, rectifier transformers, furnace transformers, and specialty transformers, underscores its ability to cater to a wide spectrum of power-related needs. The company's focus on customization, advanced testing facilities, and adherence to global standards positions it as a reliable partner for industries requiring efficient and tailored transformer solutions.

The manufacturing process, from routine testing to impregnation and quality control, highlights TRIL's dedication to delivering products of the highest standard. As the demand for electricity continues to grow, TRIL's role in providing critical components for power systems becomes increasingly significant.

Conclusion:

In conclusion, Transformers & Rectifiers India Ltd (TRIL) stands as a beacon of innovation and reliability in the Indian transformer industry. The company's journey from its inception in 1994 to its current position as a leading transformer manufacturer reflects its unwavering commitment to quality, technological excellence, and customer satisfaction.

Through its continuous pursuit of excellence, Transformers & Rectifiers India Ltd is poised to contribute to the evolution of India's power infrastructure and beyond. The company's adaptability, technological prowess, and commitment to sustainable practices position it as a key player in powering tomorrow's progress. As India advances towards a future fueled by innovation and efficiency, TRIL stands ready to be the backbone of the nation's power infrastructure, lighting the way for generations to come.

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