Transrail Lighting posts strong H1FY26 growth driven by power T&D projects, rising order inflows, capacity expansion, and solid domestic and global execution.
Transrail Lighting reports robust H1FY26 results as power transmission projects and infrastructure orders fuel growth momentum (Photo: File)
Transrail Lighting Ltd is a leading engineering, procurement and construction company with the primary focus on power transmission business providing turnkey solutions from Design, Engineering, Supply, Manufacture, Construction, Testing and commissioning services across all its business verticals which includes Power Transmission, Substations, Renewables, Civil Construction, Railways and Pole lighting. As part of Power T&D business, the company has large-scale manufacturing facilities in India for Galvanized Lattice Towers, Overhead Conductors and Galvanized Monopoles in addition to well-accredited Tower testing facilities.
The company has an approved track record of executing projects in challenging topographies and ensuring seamless substation installation that enhances power transmission efficiency and grid stability across geographies. In the railway infrastructure segment, the company provides end to end solutions for overhead electrification, signalling systems, track linking, earthwork and composite railway tracks. Transrail Lighting also undertakes complex civil infrastructure projects such as bridges, tunnels, elevated roads and cooling towers. NHAI has recently awarded the construction of India's longest river Bridge on the river Kosi in Bihar to Transrail.
The company also specialises in providing complete solutions and encompassing design, engineering, procurement and construction of solar power projects. Transrail Lighting announced the first half of the current FY26 marked with a period of robust growth backed by continued traction in the T&D segment along with timely execution across all its ongoing projects. The H1FY26 financial results were in line with expectations supported by a robust performance across all domestic and international projects.
H1FY26 Financial Highlights:
The company posted stellar Q2FY26 financial results with revenue at Rs 1561 crores, EBITDA at Rs 186 crores and profit after tax at Rs 90.98 crores. The financial performance of Transrail reflects steady operational performance and financial discipline, focusing on engineering execution efficiency, cost control and balance sheets stability.
The future is also quite bright for Transrail with the capacity expansion program at the tower manufacturing units nearing completion very soon and to be commissioned over the next few months. Meanwhile, the phase 2 project expansion of the conductor plant is underway and should get commissioned by the middle of next financial year. The first half of FY26also saw order inflow crossing Rs 3740 crores with a total order book of Rs 15116 crores which is well balanced between domestic and international markets. These orders provide good visibility for the coming quarters.
During this period, the company completed several key projects such as the 765KV lines for the Adani group at Khavda, the Narela and Ahmedabad project for PowerGrid along with the 400 KV transmission line in Solapur for ReNew Power. On the international front, the company successfully commissioned projects in Bangladesh, Africa and Latin America strengthening its execution credentials in overseas markets.
The Transrail Lighting company management has also commented in its analyst call that the second half of FY26 will be even better than the previous first half and also of the last fiscal year on the back of engineering design approvals received and execution being undertaken for the power T&D companies in terms of execution capability. The stock price of Transrail Lighting is currently quoted at Rs 575 on the bourses and analysts and fund managers are bullish on the scrip for solid gains over the next one year time frame. Investors are requested to do their own risk due diligence before buying the scrip.
