Transformer Stock Crashes 8% After Announcing Q3 Results

SYNOPSIS: This electrical engineering company reported its Q3 FY26 with a revenue growth of 20 percent QoQ and 11 percent YoY to Rs. 568 crore, led by Power Systems. However, Profit declined QoQ and YoY, despite steady segmental growth momentum across key business segments.

During Monday’s trading session, shares of an electrical engineering company in India involved in manufacturing transformers, electric motors, elevator systems, drives and automation tumbled more than 8 percent on BSE, after reporting mixed Q3 FY26 results with a fall in net profit of 12 percent QoQ and 39 percent YoY.

With a market cap of Rs. 2,956 crores, shares of Bharat Bijlee Limited were closed in the red at Rs. 2,616 on BSE, down by more than 7 percent, compared to its previous closing price of Rs. 2,823.8. The stock has delivered negative returns of around 15 percent in one year, and has fallen by over 9 percent in the last one month.

Financial Performance Q3 FY26

Bharat Bijlee Limited announced the financial results for the third quarter of FY26 on Monday during market hours, as per the latest regulatory filings with the stock exchanges.

For Q3 FY26, the company posted a consolidated revenue from operations of Rs. 568.4 crores, reflecting a sequential growth of around 20 percent QoQ compared to Rs. 473.4 crores in Q2 FY26. Likewise, on a year-on-year basis, revenue increased by about 11 percent from Rs. 513.7 crores recorded in Q3 FY25.

Meanwhile, the net profit for the quarter stood at Rs. 24.7 crore, indicating a decrease of around 12 percent QoQ from Rs. 28 crores in Q2 FY26, as well as a decline on a year-on-year basis by more than 39 percent from Rs. 40.6 crores reported in Q3 FY25.

Revenue Mix

For the quarter ended December 2025, the Power Systems segment remained the largest contributor, generating Rs. 343.6 crore and accounting for roughly 60 percent of total revenue, up around 8 percent YoY from Rs. 317.5 crores.

Meanwhile, the Industrial Systems segment contributed Rs. 224.7 crore, forming nearly 40 percent of revenue, and recorded a stronger growth of about 15 percent YoY compared to Rs. 196.2 crore in the year-ago quarter.

Bharat Bijlee Limited is a pioneer in the electrical engineering industry in India, engaged in the business of manufacturing transformers, electric motors, magnet technology machines, drives & automation systems. The company also undertakes turnkey projects (switchyards) and has a well-established all-India marketing network that ensures responsive pre- and after-sales service.

It operated in two primary business segments – Power Systems, which comprises transformers and projects divisions; and Industrial Systems segment comprising electric motors, drives & industrial automation and magnet technology machines divisions.

Bharat Bijlee has a state-of-the-art plant with a production capacity of 18,000 MVA and a full-fledged testing laboratory that was NABL-accredited in 2014. It offers upto 200MVA, 200kV, 3-phase transformers and serves State Electricity Boards, Utilities, PSUs, Industries and overseas customers. The company specialises in manufacturing power transformers, generator transformers, unit auxiliary transformers and special application transformers.

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