Transrail Lighting has reported its highest ever revenue of ₹6,880 crore in FY26, marking a 30% year-on-year growth. The company achieved this performance alongside a significant strengthening of its balance sheet, with net debt decreasing by ₹80 crore and operating cash flow more than doubling to ₹816.89 crore. The order book, including L1, stands at ₹16,361 crore, supported by a balanced domestic and international mix.

Financial Performance

The company's financial metrics for FY26 reflect robust growth across profitability and cash generation. Profit After Tax (PAT) grew by 28%, while EBITDA increased by 21%. Transrail Lighting also announced a dividend of 100%, or ₹2 per equity share, for the financial year ended March 31, 2026.

Operational and Strategic Highlights

Transrail Lighting executed 1,900 circuit kilometres (CKM) of transmission lines and supplied 150,000 metric tonnes (MT) of towers during the year. The company successfully doubled its tower manufacturing capacity to 172,400 MTPA through greenfield and brownfield expansions. It commissioned key projects, including the 765 kV double-circuit Khetri–Narela transmission line, which evacuates 8.1 GW of renewable energy. Additionally, the company entered four new geographies: Abu Dhabi, Tunisia, Djibouti, and Botswana.

Future Outlook

The company's credit rating was upgraded by CRISIL to IND A+/Positive and AA-/Stable for long-term ratings. Looking ahead, Transrail Lighting is targeting a tower capacity of 196,000 MTPA and a conductor capacity of 49,500 km. The Board has also approved an additional capex of ₹203 crore for procuring construction equipment.

Transrail Lighting Limited has invested AED 12,500,000 in the share capital of its wholly owned subsidiary, Transrail Trading LLC, based in the UAE. Based on an exchange rate of AED 1 = INR 25.885, the investment amounts to approximately INR 32,35,62,500 (INR 32.35 Crore). The funds will be utilized for supporting projects in Africa and the Middle East through investment in plant and machinery, procurement of materials, and meeting working capital requirements.

The investment was made by way of subscription to equity shares, acquiring 12,500 equity shares of AED 1,000 each. Consequent to this investment, Transrail Trading LLC continues to remain a wholly owned subsidiary of the company, with Transrail Lighting Limited continuing to hold 100% shareholding. The transaction falls under the Automatic Route under the Foreign Exchange Management Act (FEMA), and no specific governmental approval was required.

Transrail Trading LLC, formerly known as Transrail Contracting LLC, was incorporated on June 21, 2024, in the United Arab Emirates. The entity operates in the EPC (Engineering, Procurement and Construction) sector and is primarily engaged in the trading of electrical and construction material. While the subsidiary has not commenced significant revenue generation as on date, it is actively working towards achieving operational scale.

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Transrail Trading LLC is a related party, being a wholly owned subsidiary, and necessary approvals have been obtained. The transaction was undertaken on an arm’s length basis, with no interest held by promoters, promoter group, or other group companies in the subsidiary.

Investment Details