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Transformers Stock Plummets Amid CEO Exit and Market Fears
8 Jan
Summary
- Transformers stock fell 9% on January 8, 2026, after Q3FY26 results.
- Consolidated profit rose 35% YoY to ₹73.85 crore; revenue up 31.7% YoY.
- CEO Mukul Srivastava resigned; MD Satyen J. Mamtora appointed new CEO.
Transformers and Rectifiers faced a significant stock market downturn on January 8, 2026, with shares dropping as much as 9% on the BSE. This occurred despite the company announcing strong financial performance for the December quarter of FY26. Consolidated profit saw a substantial 35% year-on-year increase, reaching ₹73.85 crore, while revenue from operations grew by 31.7% year-on-year.
The company also reported a 38% jump in EBITDA to ₹129.24 crore, with improved EBITDA margins. Alongside these financial updates, a key development was the resignation of Chief Executive Officer Mukul Srivastava, effective January 7, 2026, citing personal reasons. Managing Director Satyen J. Mamtora was subsequently appointed as the new CEO, effective January 8, 2026.
This decline in Transformers' stock also appears linked to broader market sentiment, as reports emerged of the Finance Ministry potentially scrapping five-year-old restrictions on Chinese firms bidding for government contracts. This news negatively impacted several heavy electrical equipment companies, leading to significant losses across the sector.
