Transrail Lighting Posts Strong Q2 on T&D Momentum

13 Nov 2025 CW Team

Quarterly Performance (Q2 FY26 vs Q2 FY25)

Transrail sustained strong execution momentum in its core T&D segment, reinforcing its position as a key growth driver.

EBITDA rose 34 per cent year-on-year to Rs 1.86 billion.

PAT increased 65 per cent to Rs 910 million, supported by improved operating leverage and tighter cost controls.

Order inflows reached Rs 19.92 billion, up 62 per cent year-on-year.

Unexecuted Order Book stood at Rs 151.16 billion, up 46 per cent year-on-year.

Including L1 positions, the total order book rose to Rs 177.99 billion.

Half-Yearly Performance (H1 FY26 vs H1 FY25)

H1 FY26 recorded robust growth supported by strong T&D sector traction and timely execution across ongoing projects.

EBITDA grew 49 per cent to Rs 3.86 billion.

PAT rose 84 per cent to Rs 1.97 billion, reflecting disciplined margin expansion and profit-led growth.

New orders totalled Rs 37.40 billion, up 66 per cent, primarily from domestic T&D projects.

CRISIL upgraded the company’s long-term credit rating to AA-/Stable.

CRISIL also upgraded the short-term rating to A1+, reflecting strong execution credibility.

Management Commentary

Commenting on the performance, Mr Randeep Narang, MD & CEO, said:

“H1 FY26 has been our best-performing half year, driven by disciplined execution, sustained order momentum, and focused business development aligned with our global ambitions. We fast-tracked several high-priority projects during the quarter, demonstrating our capability to execute complex assignments within tight timelines without compromising on quality.

Our expanding order pipeline and strengthened customer relationships underscore the effectiveness of our strategy. With a robust order book and strong execution capabilities, we are well placed to build on this momentum in the coming quarters.”

Transrail Lighting enters H2 FY26 with strong visibility, backed by rising domestic T&D investments, a healthy balance sheet, and an expanding execution platform

Transrail Lighting Limited, one of India’s leading EPC players in the power transmission and distribution (T&D) sector with integrated manufacturing for lattice structures, conductors, and monopoles, has announced its results for the quarter and half year ended 30 September 2025. Quarterly Performance (Q2 FY26 vs Q2 FY25) Transrail sustained strong execution momentum in its core T&D segment, reinforcing its position as a key growth driver. EBITDA rose 34 per cent year-on-year to Rs 1.86 billion. PAT increased 65 per cent to Rs 910 million, supported by improved operating leverage and tighter cost controls. Order inflows reached Rs 19.92 billion, up 62 per cent year-on-year. Unexecuted Order Book stood at Rs 151.16 billion, up 46 per cent year-on-year. Including L1 positions, the total order book rose to Rs 177.99 billion. Half-Yearly Performance (H1 FY26 vs H1 FY25) H1 FY26 recorded robust growth supported by strong T&D sector traction and timely execution across ongoing projects. EBITDA grew 49 per cent to Rs 3.86 billion. PAT rose 84 per cent to Rs 1.97 billion, reflecting disciplined margin expansion and profit-led growth. New orders totalled Rs 37.40 billion, up 66 per cent, primarily from domestic T&D projects. CRISIL upgraded the company’s long-term credit rating to AA-/Stable. CRISIL also upgraded the short-term rating to A1+, reflecting strong execution credibility. Management Commentary Commenting on the performance, Mr Randeep Narang, MD & CEO, said: “H1 FY26 has been our best-performing half year, driven by disciplined execution, sustained order momentum, and focused business development aligned with our global ambitions. We fast-tracked several high-priority projects during the quarter, demonstrating our capability to execute complex assignments within tight timelines without compromising on quality. Our expanding order pipeline and strengthened customer relationships underscore the effectiveness of our strategy. With a robust order book and strong execution capabilities, we are well placed to build on this momentum in the coming quarters.” Transrail Lighting enters H2 FY26 with strong visibility, backed by rising domestic T&D investments, a healthy balance sheet, and an expanding execution platform

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