Oriental Rail Infrastructure Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹752 Cr
- P/E
- 14.53
- ROE
- 11.01%
- PEG
- 0.10
- Price to sales
- 1.19
- Debt to equity
- 0.69
- 52W high / low
- ₹172 / ₹104
- Sales growth (5Y)
- 21.10%
- EBITDA margin
- 15.49%
- Net profit margin
- 7.37%
- Promoter holding
- 57.69%
- Sales (last year)
- ₹632 Cr
Incorporated in 1991, Oriental Rail Infrastructure Ltd provides integrated passenger systems, freight rolling stock, rail components and smart railway technologies to Indian Railways.[1]
Guidance scorecard · Q2 FY27 call
What Oriental Rail's management guided
and where it ranks in Industrial Products
Industrial Products
RevenueQ2 FY27 call
20–40%- The company targets substantial growth in production and sales, aiming for a 25-30% increase in revenue in H2 over H1.
- Expecting continued growth with increased wagon output, planning production of around 500 wagons per quarter and catching up on backlogs.
- Targeting growth by expanding into interior refurbishment business worth INR150-200 crores.
- Plans to increase capacity utilization and possibly scale capacity to 3,600 wagons starting FY 2027.
- Anticipate improved EBITDA margins by 7-10% over previous margins due to better utilization and backward integration.
- New product introductions and backward integration with key components expected to improve profitability.
2 more points from Oriental Rail's call on revenue
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MarginsQ2 FY27 call
Up 2%+See what Oriental Rail said on margins — free account, 30 seconds.
CapexQ2 FY27 call
Planned- Planning to increase capacity to 3,600 wagons starting from Financial Year April 2027.
- Modern design wagons will be produced in a completely new facility for better quality control and to avoid mixing with existing designs.
- Backward integration underway for key components: spring manufacturing facility already operational for one year.
- Discussions ongoing for setting up own manufacturing facilities for two to three additional major components, expected implementation by mid Financial Year 28.
- Orders placed in advance to mitigate volatile steel supply chain issues; inventory levels increased temporarily to ensure sustainable growth.
2 more points from Oriental Rail's call on capex
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FundraisingQ2 FY27 call
See what Oriental Rail said on fundraising — free account, 30 seconds.
Order bookQ2 FY27 call
Rising- The company has an order book covering the next 4 quarters for wagons.
- Currently holding orders for over 2,000 wagons, ensuring coverage for at least 3-4 quarters.
- In interior furnishing/refurbishing business, tenders participated amount to over INR150 crores, with expectations to participate in tenders close to INR400 crores by December 2027.
- The combined order book for interior furnishing and seats conservatively covers till December 2027.
- For rolling stock (wagons), specifics on product mix are complex, but order book remains strong.
- For the 400-wagon smart monitoring tender, expecting minimum 200 unit orders by mid-November 2026.
2 more points from Oriental Rail's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Products
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Industrial Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹448 Cr | 17.9 | |
| 2 | 40%+ | Up 2%+ | ₹413 Cr | 12.0 | |
| 3 | 40%+ | Up 2%+ | ₹324 Cr | 22.7 | |
| 4 | 40%+ | Up 0–2% | ₹1,496 Cr | 32.8 | |
| 5 | 40%+ | Up 0–2% | ₹1,079 Cr | 12.7 | |
| 6 | 40%+ | Flat | ₹827 Cr | 21.4 |
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Pro shows every company guiding 40%+ revenue growth →Full Industrial Products rankingOriental Rail announcements
All announcements →Financials of Oriental Rail
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Oriental Rail
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 120 | 93 | 115 | 147 | 172 | 123 | 186 | 153 | 140 | 118 | 133 | 169 | 153 |
| Expenses + | 126 | 79 | 98 | 123 | 159 | 109 | 165 | 136 | 123 | 103 | 112 | 143 | 130 |
| Operating Profit | -6 | 13 | 17 | 24 | 13 | 14 | 21 | 17 | 17 | 15 | 22 | 25 | 24 |
| OPM % | -5% | 14% | 15% | 16% | 7% | 11% | 12% | 11% | 12% | 12% | 16% | 15% | 15% |
| Other Income + | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 2 | 1 | 2 | 2 |
| Interest | 5 | 5 | 6 | 5 | 6 | 4 | 6 | 6 | 6 | 5 | 6 | 6 | 8 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Profit before tax | -11 | 7 | 10 | 17 | 6 | 8 | 14 | 10 | 12 | 8 | 14 | 18 | 16 |
| Tax % | -29% | 20% | 21% | 27% | 24% | 26% | 27% | 27% | 55% | 29% | 25% | 25% | 26% |
| Net Profit + | -8 | 5 | 8 | 13 | 4 | 6 | 10 | 8 | 5 | 6 | 11 | 14 | 12 |
| EPS in Rs | -1.49 | 1.01 | 1.43 | 2.32 | 0.71 | 0.95 | 1.70 | 1.16 | 0.83 | 0.90 | 1.59 | 2.06 | 1.77 |
Financials of Oriental Rail
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 81 | 85 | 97 | 130 | 139 | 267 | 220 | 172 | 325 | 526 | 602 | 573 |
| Expenses + | 78 | 77 | 82 | 110 | 119 | 223 | 189 | 142 | 300 | 460 | 532 | 488 |
| Operating Profit | 3 | 8 | 16 | 19 | 20 | 44 | 31 | 30 | 25 | 67 | 70 | 85 |
| OPM % | 4% | 9% | 16% | 15% | 15% | 16% | 14% | 18% | 8% | 13% | 12% | 15% |
| Other Income + | 3 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 6 | 6 |
| Interest | 1 | 2 | 3 | 3 | 4 | 10 | 8 | 6 | 16 | 22 | 23 | 25 |
| Depreciation | 1 | 1 | 3 | 3 | 3 | 4 | 5 | 5 | 7 | 8 | 9 | 9 |
| Profit before tax | 5 | 6 | 12 | 16 | 16 | 32 | 20 | 21 | 4 | 39 | 44 | 57 |
| Tax % | 33% | 49% | 34% | 28% | 26% | 24% | 23% | 25% | 26% | 24% | 34% | 26% |
| Net Profit + | 3 | 3 | 8 | 12 | 12 | 24 | 15 | 16 | 3 | 30 | 29 | 42 |
| EPS in Rs | 0.58 | 0.62 | 1.43 | 2.16 | 2.18 | 4.51 | 2.86 | 2.89 | 0.59 | 4.88 | 4.53 | 6.30 |
| Dividend Payout % | 0% | 0% | 14% | 9% | 9% | 4% | 7% | 9% | 0% | 2% | 2% | 0% |
Financials of Oriental Rail
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 6 | 6 | 7 |
| Reserves | 17 | 20 | 27 | 37 | 47 | 70 | 85 | 99 | 102 | 280 | 340 | 413 |
| Borrowings + | 40 | 62 | 87 | 126 | 161 | 191 | 165 | 178 | 314 | 294 | 282 | 305 |
| Other Liabilities + | 26 | 31 | 28 | 47 | 54 | 48 | 53 | 58 | 56 | 66 | 82 | 126 |
| Total Liabilities | 88 | 118 | 146 | 215 | 268 | 315 | 308 | 340 | 478 | 646 | 711 | 851 |
| Fixed Assets + | 7 | 34 | 34 | 36 | 34 | 78 | 74 | 107 | 106 | 125 | 124 | 133 |
| CWIP | 14 | 3 | 14 | 35 | 45 | 14 | 21 | 0 | 20 | 0 | 7 | 13 |
| Investments | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Other Assets + | 66 | 82 | 99 | 144 | 188 | 223 | 213 | 233 | 351 | 521 | 580 | 704 |
| Total Assets | 88 | 118 | 146 | 215 | 268 | 315 | 308 | 340 | 478 | 646 | 711 | 851 |
Financials of Oriental Rail
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 11 | -9 | 1 | -9 | -25 | -9 | 56 | 2 | -44 | 6 | -24 | |
| Cash from Investing Activity + | -17 | -14 | -12 | -24 | -10 | -14 | -6 | -16 | -24 | -4 | -9 | |
| Cash from Financing Activity + | 6 | 22 | 10 | 35 | 30 | 17 | -38 | 5 | 70 | 98 | -2 | |
| Net Cash Flow | -0 | -2 | 0 | 2 | -4 | -7 | 11 | -8 | 2 | 100 | -34 | |
| Free Cash Flow | -5 | -27 | -12 | -36 | -36 | -26 | 47 | -15 | -70 | -0 | -38 | |
| CFO/OP | 361% | -80% | 35% | -24% | -101% | -4% | 191% | 25% | -171% | 23% | -12% |
Financials of Oriental Rail
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 82 | 92 | 108 | 94 | 92 | 68 | 98 | 105 | 78 | 91 | 87 | 119 |
| Inventory Days | 78 | 160 | 176 | 220 | 318 | 185 | 161 | 396 | 274 | 188 | 214 | 266 |
| Days Payable | 71 | 107 | 93 | 146 | 95 | 60 | 72 | 101 | 38 | 29 | 35 | 51 |
| Cash Conversion Cycle | 88 | 145 | 191 | 168 | 315 | 193 | 187 | 400 | 314 | 250 | 266 | 334 |
| Working Capital Days | -31 | 19 | 23 | 55 | 55 | 42 | 54 | 138 | 71 | 93 | 101 | 88 |
| ROCE % | 12% | 15% | 13% | 10% | 17% | 11% | 10% | 6% | 12% | 11% | 12% |
Guidance history
How Oriental Rail's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q2 FY27 call → | 20–40% | Up 2%+ | Planned | — | Rising |
| Q1 FY27 call → | 20–40% | Up 2%+ | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
16 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −34.5% | 17% |
| Last 6 months | −14.4% | 30% |
| Last 3 months | +1.0% | 70% |
The price is 72.4% below its all-time high of ₹415.7 (19 Jul 2024). Stocks more than 20% below their peak have their score halved, so 33 became 16.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Oriental Rail: 0.4 × 17 + 0.4 × 30 + 0.2 × 70 = 33, halved to 16 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Oriental Rail's management said in earlier quarters
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