Transformers and Rectifiers (India) share price
NSE: TARILBSE: 532928Electrical EquipmentSmall Cap
Transformers and Rectifiers (India) Limited · Face value ₹1 Face value. The nominal value of one share as the company issued it, the unit its share capital is counted in and a dividend can be stated as a percentage of; it has no link to the share price. Face value in the glossary · Listed Dec 2007
Last close ₹315.80up ₹1.10 (0.35%)BSE ₹315.95
Share price at the NSE close on 29 Oct 2026. Previous close ₹314.70.
29 Oct: open ₹315.00, high ₹319.30, low ₹312.40
52-week range of traded prices to 29 Oct 2026
₹224.05Low, 2 Feb 2026₹478.90High, 29 Oct 2025
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹9,479 Cr586th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 30.28
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 5.74
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.08%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 20.9%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 19.3%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Sep 2026.
- 0.34
- Volume, NSEVolume. Shares traded on the last trading day. Volume in the glossary
- 14,29,071
About Transformers and Rectifiers (India)
Transformers and Rectifiers (India) Limited (TARIL) makes power, distribution, furnace, rectifier and specialty transformers, as well as shunt reactors (devices that control voltage on power lines) and solar application transformers.1 It sells to power utilities, EPC contractors (firms that design and build projects), industrial companies and renewable energy developers in India and overseas.12 It is headquartered in Ahmedabad and manufactures in Gujarat.2
Its transformers span voltage classes from 5 kV to 1,200 kV (kilovolts), and it reports a single business segment, the manufacture of transformers.34 It had 6 subsidiaries on 31 March 2026, some of which make components such as bushings, transformer tanks, radiators and CRGO (grain-oriented electrical steel).56 It built a 333 MVA (megavolt-ampere, a measure of transformer capacity), 1,200 kV auto transformer for the National Test Station at Bina through Power Grid Corporation of India (PGCIL), and says it is rated at the highest AC voltage of any transformer in the world.7
Its origins go back to 1981, when Jitendra U. Mamtora moved from repairing transformers to making 33 kV class units; the company was incorporated on 11 July 1994 and opened a new plant at Moraiya in 2010.8 In September 2026 it set up a subsidiary in the UK to support customers and expand in UK and European markets.9 The company is promoted by Jitendra U. Mamtora, its chairman, who held 31.30% of its shares on 31 March 2026; Satyen J. Mamtora is managing director and CEO.11011
Transformers and Rectifiers (India) key points
Results
- In the quarter to Sep 2026, consolidated revenue from operations was ₹739.44 crore, up 61% from ₹460.03 crore a year earlier; for the half year it was ₹1,311.78 crore, up 33% from ₹989.36 crore.12
- On a standalone basis, EBITDA (earnings before interest, tax, depreciation and amortisation) was ₹114 crore in the quarter to Sep 2026, a margin of 16.1%.13
- In the year to Mar 2026, consolidated revenue from operations rose 24.2% to ₹2,508.80 crore from ₹2,019.39 crore, and consolidated profit after tax, including minority shareholders' share, rose 25.6% to ₹272.17 crore from ₹216.43 crore.14
Revenue mix
- Share of revenue by product, half year to Sep 202615
Item half year to Sep 2026 Power transformers 56% Specialty transformers 11% Shunt and series reactors 10% Distribution transformers 6% Furnace transformers 3% Rectifier transformers 1% - One customer accounted for 10% or more of consolidated revenue in the year to Mar 2026, contributing ₹901.29 crore, against ₹649.65 crore from one such customer a year earlier.16
- Utility customers include Power Grid Corporation of India, NTPC and GETCO; steel and metals customers include Jindal Steel & Power, JSW, SAIL and Hindustan Zinc.17
Where revenue comes from
Plants and capacity
- Installed capacity by plant, in MVA a year20
Moraiya 40,000 MVA Changodar 35,000 MVA Odhav 1,200 MVA - Production reached 33,763 MVA in the year to Mar 2026, the highest in the company's history, against 29,118 MVA a year earlier.14
- The company is setting up plants to make CTC (continuously transposed conductor, a winding wire), pressboard insulation, bushings, fabrication and CRGO itself; these cover 80% to 85% of its raw material needs, against 10% to 15% for the components it already makes.21
Order book
- The order book (orders received but not yet delivered) was ₹7,237 crore at the end of September 2026, up 32% from ₹5,472 crore a year earlier; the company says it is executable over the next 18 to 24 months.2223
- At the end of September 2026, power transformers made up 83% of the order book, and transformers of 400 kV and above 55% to 60% of it, management said.2425
- Orders received in the quarter to Sep 2026 were ₹1,169 crore, up 97% from a low base a year earlier.26
- On its earnings call of 13 Oct 2026, the company said it had inquiries under negotiation worth ₹21,000 crore, 80% of them for domestic orders and 20% for export.27
What the company expects
- In its presentation of 13 Oct 2026, the company said it expects revenue growth of 25% in the year to Mar 2027, an EBITDA margin of 16% and a profit after tax margin of 9% to 10%.28
- In its presentation of 13 Oct 2026, the company said commercial production from its expanded transformer capacity was expected around Diwali, and commissioning of all its plants for making its own inputs (backward integration) by the quarter to Jun 2027.28
- On its earnings call of 13 Oct 2026, the company said it expects backward integration to add 200 to 300 basis points (hundredths of a percentage point) to its margin, rising gradually through the year to Mar 2029.29
- On its earnings call of 13 Oct 2026, the company said it expects $1 billion of revenue late in the year to Mar 2029 or early 2030, and to make HVDC (high-voltage direct current) converter transformers within 18 months.3031
Recent events
- On 2 Oct 2026, Gujarat Energy Transmission Corporation (GETCO) ordered 80 MVAr and 125 MVAr shunt reactors and 500 MVA auto transformers from the company, for delivery within 24 to 30 months.32
- On 29 Aug 2026, the company announced its first nuclear power order: generator transformers for Nuclear Power Corporation of India's Kaiga Units 5 and 6 in Karnataka, received from Megha Engineering and Infrastructures.33
- On 30 Jun 2026, Power Grid Corporation of India (PGCIL) awarded the company orders for transformers of various ratings, for delivery within 30 months, which the company classes as ultra-mega, meaning ₹1,000 crore and above.3435
- On 4 Dec 2025, PGCIL gave the company a ₹53.33 crore order to repair a 397 MVA HVDC converter transformer, the first such order to an Indian-origin private sector company, the company said.3637
Litigation and regulatory matters
- In its exchange filing of 14 Nov 2025, the company said the World Bank had taken it off its list of barred firms and given it until 12 January 2026 to respond in a sanctions case; the company's documents give no outcome.38
Last updated
All 38 sources, each with its page
- 1. Investor presentation, 13 Oct 2026, page 6
- 2. Exchange filing, 29 Aug 2026, page 2
- 3. Investor presentation, 13 Oct 2026, page 6
- 4. Annual report, 29 Aug 2026, page 223
- 5. Annual report, 29 Aug 2026, page 80
- 6. Investor presentation, 13 Oct 2026, page 19
- 7. Annual report, 29 Aug 2026, page 44
- 8. Annual report, 29 Aug 2026, page 56
- 9. Earnings call, 13 Oct 2026, page 4
- 10. Annual report, 29 Aug 2026, page 98
- 11. Annual report, 29 Aug 2026, page 10
- 12. Investor presentation, 13 Oct 2026, page 29
- 13. Earnings call, 13 Oct 2026, page 5
- 14. Annual report, 29 Aug 2026, page 62
- 15. Investor presentation, 13 Oct 2026, page 18
- 16. Annual report, 29 Aug 2026, page 257
- 17. Annual report, 29 Aug 2026, page 58
- 18. Earnings call, 13 Oct 2026, page 10
- 19. Investor presentation, 13 Oct 2026, page 24
- 20. Investor presentation, 13 Oct 2026, page 25
- 21. Investor presentation, 13 Oct 2026, page 26
- 22. Earnings call, 13 Oct 2026, page 3
- 23. Investor presentation, 13 Oct 2026, page 10
- 24. Investor presentation, 13 Oct 2026, page 21
- 25. Earnings call, 13 Oct 2026, page 6
- 26. Earnings call, 13 Oct 2026, page 3
- 27. Earnings call, 13 Oct 2026, page 4
- 28. Investor presentation, 13 Oct 2026, page 13
- 29. Earnings call, 13 Oct 2026, page 9
- 30. Earnings call, 13 Oct 2026, page 15
- 31. Earnings call, 13 Oct 2026, page 16
- 32. Exchange filing, 2 Oct 2026, page 1
- 33. Exchange filing, 29 Aug 2026, page 2
- 34. Exchange filing, 30 Jun 2026, page 1
- 35. Exchange filing, 30 Jun 2026, page 2
- 36. Exchange filing, 4 Dec 2025, page 1
- 37. Exchange filing, 4 Dec 2025, page 2
- 38. Exchange filing, 14 Nov 2025, page 1
Results
Consolidated; ₹ crore.Transformers and Rectifiers (India) quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +27.2%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +23.0%
Quarter to Sep 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹739 Crup 29.20%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹81 Crup 26.58%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 11.0%
Revenue by quarter
Peak revenue ₹783 Cr, quarter to Mar 2026; lowest ₹460 Cr, quarter to Sep 2025
Net profit by quarter, a loss in red
| ₹ crore | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 559 | 676 | 529 | 460 | 737 | 783 | 572 | 739 |
| Net profit | 55 | 94 | 67 | 37 | 76 | 91 | 64 | 81 |
| Net margin | 9.9% | 13.9% | 12.7% | 8.1% | 10.3% | 11.7% | 11.2% | 11.0% |
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹2,509 Crup 24.24%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹272 Crup 25.77%
- Net margin
- 10.8%
Revenue by year
Net profit by year, a loss in red
The years either side of a change of basis do not compare. From the year to Mar 2023, the company's revenue for that year, ₹1,381 Cr, differs from its quarters added, ₹1,351 Cr.
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 821 | 724what Revenue, Mar 2018, includes. This period's revenue includes excise duty of ₹8.01 crore, a tax on the goods the company makes that it collects and pays to the government. | 855 | 701 | 742 | 1,158 | 1,381 | 1,295 | 2,019 | 2,509 |
| Net profit | 15 | 6 | 5 | 1 | 8 | 14 | 42 | 47 | 216 | 272 |
| Net margin | 1.8% | 0.9% | 0.6% | 0.1% | 1.0% | 1.2% | 3.1% | 3.6% | 10.7% | 10.8% |
Consolidated. Years to March. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Business segments
In the year to Mar 2026 the company reports one business segment, manufacturer of various types of transformers, which carries all its revenue.
Valuation
Today, against the company's own history. Its history crosses a change of basis in the accounts in the year to Mar 2023: days before it are of the company before the change.Transformers and Rectifiers (India) PE ratio and valuation
Price to earnings
At or below today's level on 49% of 2,079 trading days over the last 10 years.
LowestHighest
Its median30.67Industry median36.60
Price to book
At or below today's level on 71% of 1,782 trading days since Nov 2018.
LowestHighest
Its median1.35Industry median5.23
Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price. When a year's dividend goes ex later than the year before's, the yield reads zero for the days between; a run of under 60 such trading days is left out of the yield's medians and percentiles. The ex-date is the day from which a buyer of the share no longer gets the dividend.
At or below today's level on 76% of 2,479 trading days over the last 10 years.
LowestHighest
Its median0.00%Industry median0.35%
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | −52.5% | +25.8% | −62.3% | 0.1% |
| 3 years | +107.6% | +80.8% | +14.8% | 0.1% |
| 5 years | +99.1% | +102.5% | −1.8% | 0.2% |
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 5 years is on profit divided by shares in issue at both ends: the earnings per share stated for one end does not match that year's profit and share count.
Mutual fund holdings
50 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 47 of the 47 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.All 50 funds holding Transformers and Rectifiers (India)
- AddedAdded. Funds that held more shares than at the end of the month before.
- 16
- CutCut. Funds that held fewer shares than at the end of the month before.
- 31
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 3
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 1
| Fund | |||
|---|---|---|---|
 Invesco India Flexi Cap FundInvesco Mutual Fund | 15,77,796 | 0.78% | ₹42.6 Cr |
| Invesco India ELSS Tax Saver FundInvesco Mutual Fund | 10,14,347 | 1.05% | ₹27.4 Cr |
 Nippon India Nifty Smallcap 250 Index FundNippon India Mutual Fund | 1,65,659 | 0.13% | ₹4.47 Cr |
 HDFC Nifty Smallcap 250 ETFHDFC Mutual Fund | 1,29,990 | 0.13% | ₹3.51 Cr |
 Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETFMirae Asset Mutual Fund | 84,152 | 0.24% | ₹2.27 Cr |
 SBI Nifty Smallcap 250 Index FundSBI Mutual Fund | 84,152 | 0.13% | ₹2.27 Cr |
 Motilal Oswal Nifty Smallcap 250 Index FundMotilal Oswal Mutual Fund | 59,693 | 0.13% | ₹1.61 Cr |
 ICICI Prudential Nifty Smallcap 250 Index FundICICI Prudential Mutual Fund | 37,733 | 0.13% | ₹1.02 Cr |
| HDFC Nifty Smallcap 250 Index FundHDFC Mutual Fund | 36,187 | 0.13% | ₹0.98 Cr |
| Nippon India Nifty 500 Equal Weight Index FundNippon India Mutual Fund | 33,200 | 0.20% | ₹0.90 Cr |
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.
Promoter and insider buying and selling
Trades made since 29 Oct 2025.Transformers and Rectifiers (India) insider trading
No promoter, director, key manager or employee bought or sold on the market.
- Others: no market trade · 9 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.
Transformers and Rectifiers (India) competitors and peers
Heavy Electrical Equipment, 48 listed companies, priced on 29 Oct 2026. The table lists the 8 companies closest to Transformers and Rectifiers (India) in market cap.Capital goods stocks
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
 Quality Power Electrical EquipmentsQPOWER | 11,081 | 83.12 | 20.44 | – | – | 27.6% | 21.3% | 0.09% |
 Voltamp TransformersVOLTAMP | 10,295 | 31.84 | 5.51 | +22.9% | −1.6% | 18.4% | 19.3% | 0.98% |
 Inox WindINOXWIND | 10,228 | 29.70 | 1.60 | +17.1% | – | 6.0% | 7.0% | 0.00% |
 Elecon Engineering CompanyELECON | 9,817 | 40.12 | 3.91 | +2.6% | −52.7% | 10.3% | 16.2% | 0.46% |
 Kanohar ElectricalsKANOHAR | 7,771 | – | – | – | – | – | – | 0.00% |
 PowericaPOWERICA | 6,280 | – | – | – | – | – | – | 0.00% |
 SkipperSKIPPER | 6,228 | 27.72 | – | +17.2% | +38.5% | 16.7% | 21.4% | 0.02% |
 Transrail LightingTRANSRAILL | 5,850 | 14.44 | 2.56 | +15.3% | +6.4% | 19.5% | 25.6% | 1.15% |
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.
Dividends
Per share, by the year it was paid for, and the latest payments.Transformers and Rectifiers (India) dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossaryHighest ₹0.25 a share, year to Mar 2026.
| Ex-date | Type | Per share |
|---|---|---|
| 18 Sep 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹0.25 |
| 9 May 2025 | Final | ₹0.20 |
| 10 May 2024 | Final | ₹0.20 |
| 28 Jul 2023 | Final | ₹0.15 |
| 28 Jul 2022 | Final | ₹0.15 |
| 2 Sep 2021 | Final | ₹0.10 |
Latest payments, as declared, by ex-date.
Latest announcements
Routine notices left out.Transformers and Rectifiers (India) announcements
Oct 2026
13 Oct · Results
6 Oct · Analysts
Transformers and Rectifiers (India) annual report, year to Mar 2026
Transformers and Rectifiers (India) share price by year
Each calendar year to 2025.Transformers and Rectifiers (India) share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 285.25 | −49.9% | 619.60 | 236.90 |
| 2024 | 569.90 | +392.7% | 583.18 | 118.65 |
| 2023 | 115.68 | +314.2% | 115.68 | 27.00 |
| 2022 | 27.93 | +58.2% | 32.45 | 12.75 |
| 2021 | 17.65 | +74.8% | 18.45 | 8.13 |
| 2020 | 10.10 | +182.5% | 11.53 | 2.53 |
| 2019 | 3.58 | −46.4% | 7.58 | 3.25 |
| 2018 | 6.68 | −68.0% | 21.78 | 6.20 |
| 2017 | 20.88 | +23.4% | 23.12 | 14.75 |
| 2016 | 16.91 | +24.5% | 19.11 | 10.12 |
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.
Recent sessions
The 9 trading days to 28 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 28 Oct 2026 | 314.00 | 320.00 | 310.10 | 314.70 | 315.23 | 21,04,067 | 28.5% |
| 27 Oct 2026 | 303.00 | 321.85 | 299.80 | 314.30 | 314.33 | 50,27,223 | 25.2% |
| 26 Oct 2026 | 299.00 | 305.85 | 295.65 | 299.70 | 299.88 | 19,11,241 | 32.8% |
| 23 Oct 2026 | 315.45 | 316.00 | 295.10 | 303.90 | 302.82 | 33,74,517 | 32.2% |
| 22 Oct 2026 | 317.50 | 324.00 | 310.50 | 314.50 | 316.57 | 40,72,534 | 32.3% |
| 21 Oct 2026 | 330.00 | 333.00 | 317.90 | 320.35 | 324.36 | 38,30,604 | 23.1% |
| 19 Oct 2026 | 329.10 | 331.90 | 320.60 | 326.10 | 325.99 | 35,44,760 | 26.4% |
| 16 Oct 2026 | 335.00 | 339.70 | 326.20 | 329.10 | 332.63 | 58,02,414 | 23.2% |
| 15 Oct 2026 | 350.55 | 356.70 | 330.00 | 333.45 | 340.53 | 1,13,38,631 | 21.3% |
Prices in ₹ per share as traded, not adjusted.
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Bonus shares and stock split history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 14 Feb 2025 | Bonus | 0.5000 | Holders received 1 bonus share for every 1 held. |
| 28 Sep 2017 | Split | 0.1000 | Each share became 10. |
| 13 Jun 2013 | Bonus | 0.9000 | Holders received 1 bonus share for every 9 held. |
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout.
Company details
- NSE symbol
- TARIL
- BSE code
- 532928
- ISIN
- INE763I01026
- Industry
- Electrical Equipment
- Former symbols
- TRIL
- Website
- www.transformerindia.com
- CIN
- L33121GJ1994PLC022460
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1994
- Registered office
- Survey No. 427 P/3-4 & 431 P/1-2, Sarkhej Bavla Highway, Moraiya, Dist Ahmedabad, Sanand 382213, Gujarat
- Share registrar
- MUFG Intime India Pvt. Ltd
- Keeps the register of shareholders and handles transfers and dividend payments
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