Transrail Lighting Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹5,860 Cr
- P/E
- 14.04
- ROE
- 19.98%
- PEG
- 0.25
- Price to sales
- 0.83
- Debt to equity
- 0.30
- 52W high / low
- ₹736 / ₹405
- Sales growth (5Y)
- 25.93%
- EBITDA margin
- 11.79%
- Net profit margin
- 6.04%
- Promoter holding
- 71.12%
- Sales (last year)
- ₹6,956 Cr
Incorporated in 2008, Transrail Lighting Ltd is an integrated transmission & distribution, and pole manufacturing company[1]
Guidance scorecard · Q1 FY27 call
What Transrail Lighting Ltd's management guided
and where it ranks in Electrical Equipment
Electrical Equipment
RevenueQ1 FY27 call
20–40%- Transrail Lighting Limited expects robust future growth in sales and revenue, targeting a 20% year-on-year increase for FY27.
- Q1 FY27 revenue grew 5% year-on-year, reaching INR 1,736 crores, with management confident of better execution in H2 and subsequent quarters.
- The order intake target remains strong at INR 10,000+ crores for the financial year, supporting sustained revenue growth.
- Expansion into new segments like drones (for mapping and survey), BESS, and data centers is being explored to diversify growth avenues.
- Manufacturing capacity has increased, including the commercial operation of a new eco-friendly tower facility, enhancing supply chain and execution capabilities.
- International markets, especially projects in Australia, present promising long-term opportunities.
2 more points from Transrail Lighting Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Transrail Lighting Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- The company announced a INR203 crores capex plan in May, primarily for tools and plants to execute domestic and international projects, to be utilized staggered quarter-on-quarter.
- Approximately 70% of the capex will be used in FY27 and the balance in FY28.
- Factory phase 1 for conductors brownfield is ready; awaiting certain approvals, expected to start in Q2 FY27.
- Greenfield tower factory in Butibori, Nagpur began operations on April 24.
- No plans for greenfield acquisitions currently; capital raise (QIP of up to INR600 crores) is primarily for long-term working capital and strategic enabling provision.
2 more points from Transrail Lighting Ltd's call on capex
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FundraisingQ1 FY27 call
PlannedSee what Transrail Lighting Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- Current order book is approximately INR16,000 crores.
- The expected execution for FY27 is around INR8,200 to INR8,300 crores.
- The target for new order intake in FY27 is around INR10,000 crores.
- The closing order book for the year is expected to be between INR17,000 to INR18,000 crores.
- International backlog is around INR6,400 crores, with some projects delayed due to global economic disruptions.
- The company maintains confidence in achieving the order intake and execution guidance despite some Q1 delays.
2 more points from Transrail Lighting Ltd'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 Electrical Equipment
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
Electrical Equipment companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹72,673 Cr | 18.1 | |
| 2 | 40%+ | Up 2%+ | ₹21,700 Cr | 158.1 | |
| 3 | 40%+ | Up 2%+ | ₹491 Cr | 12.2 | |
| 4 | 40%+ | Up 0–2% | ₹12,434 Cr | 48.4 | |
| 5 | 40%+ | Up 0–2% | ₹2,042 Cr | 35.4 | |
| 6 | 40%+ | Up 0–2% | ₹529 Cr | 7.0 |
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Pro shows every company guiding 40%+ revenue growth →Full Electrical Equipment rankingTransrail Lighting Ltd announcements
All announcements →- Order winNotableTransrail Lighting secures fresh orders worth ₹927 crore in October 2026
- Capex / expansionNotableTransrail Lighting increases tower manufacturing capacity by 12,000 MTPA to 184,400 MTPA
- Order winNotableTransrail Lighting Secures New Domestic T&D Orders Worth ₹574 Crore
- Capex / expansionNotableTransrail Lighting increases conductor manufacturing capacity by 70% to 40,800 Km/annum
Financials of Transrail Lighting Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Transrail Lighting Ltd
Shareholding breakup across reporting periods.
| Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|
| Promoters + | 71.12% | 71.12% | 71.12% | 71.12% | 71.12% | 71.12% | 71.12% | 71.12% |
| FIIs + | 1.00% | 0.61% | 1.43% | 1.16% | 1.14% | 2.17% | 2.49% | 1.85% |
| DIIs + | 15.15% | 14.08% | 12.44% | 8.41% | 8.21% | 8.14% | 6.51% | 5.95% |
| Public + | 12.74% | 14.20% | 15.01% | 19.31% | 19.53% | 18.58% | 19.87% | 21.06% |
| No. of Shareholders | 1,42,684 | 1,29,923 | 1,27,752 | 1,52,942 | 1,61,306 | 1,58,376 | 1,55,661 | 1,57,132 |
Financials of Transrail Lighting Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 977 | 1,392 | 916 | 1,088 | 1,358 | 1,946 | 1,660 | 1,561 | 1,796 | 1,863 | 1,736 |
| Expenses + | 860 | 1,224 | 796 | 950 | 1,178 | 1,710 | 1,461 | 1,377 | 1,569 | 1,657 | 1,534 |
| Operating Profit | 117 | 169 | 120 | 138 | 179 | 236 | 199 | 184 | 227 | 207 | 202 |
| OPM % | 12% | 12% | 13% | 13% | 13% | 12% | 12% | 12% | 13% | 11% | 12% |
| Other Income + | 6 | 24 | 14 | 8 | 10 | 16 | 12 | 16 | -4 | 11 | 17 |
| Interest | 43 | 41 | 44 | 46 | 49 | 59 | 50 | 60 | 55 | 54 | 56 |
| Depreciation | 13 | 13 | 13 | 13 | 14 | 16 | 15 | 15 | 17 | 20 | 19 |
| Profit before tax | 68 | 139 | 77 | 87 | 126 | 177 | 147 | 125 | 151 | 144 | 144 |
| Tax % | 32% | 29% | 33% | 36% | 26% | 28% | 28% | 27% | 27% | 33% | 25% |
| Net Profit + | 46 | 100 | 52 | 55 | 93 | 127 | 106 | 91 | 110 | 96 | 108 |
| EPS in Rs | 3.73 | 8.04 | 4.17 | 4.41 | 6.94 | 9.43 | 7.88 | 6.78 | 8.17 | 7.19 | 8.04 |
Financials of Transrail Lighting Ltd
Profit & Loss
Annual income statement trend
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales + | 1,881 | 2,172 | 2,338 | 3,152 | 4,077 | 5,308 | 6,880 | 6,956 |
| Expenses + | 1,603 | 1,888 | 2,091 | 2,788 | 3,518 | 4,532 | 5,940 | 6,136 |
| Operating Profit | 278 | 284 | 247 | 364 | 559 | 776 | 941 | 820 |
| OPM % | 15% | 13% | 11% | 12% | 14% | 15% | 14% | 12% |
| Other Income + | 22 | 19 | 20 | 19 | 56 | 48 | 32 | 40 |
| Interest | 146 | 138 | 139 | 189 | 246 | 300 | 339 | 225 |
| Depreciation | 32 | 34 | 37 | 46 | 50 | 56 | 66 | 71 |
| Profit before tax | 121 | 132 | 91 | 148 | 318 | 467 | 567 | 564 |
| Tax % | 15% | 25% | 28% | 27% | 27% | 30% | 29% | |
| Net Profit + | 102 | 98 | 65 | 108 | 233 | 329 | 404 | 405 |
| EPS in Rs | 48.57 | 25.97 | 5.70 | 9.44 | 18.81 | 24.48 | 30.06 | 30.18 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 8% | 3% | 7% |
Financials of Transrail Lighting Ltd
Balance Sheet
Capital structure and asset base
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 8 | 23 | 23 | 25 | 27 | 27 |
| Reserves | 435 | 560 | 640 | 749 | 1,114 | 1,854 | 2,254 |
| Borrowings + | 346 | 429 | 469 | 621 | 667 | 661 | 678 |
| Other Liabilities + | 1,253 | 1,185 | 1,710 | 2,053 | 2,814 | 3,691 | 4,395 |
| Total Liabilities | 2,038 | 2,182 | 2,842 | 3,445 | 4,621 | 6,233 | 7,354 |
| Fixed Assets + | 321 | 317 | 334 | 379 | 374 | 425 | 600 |
| CWIP | 11 | 4 | 17 | 4 | 6 | 12 | 65 |
| Investments | 0 | 3 | 3 | 3 | 5 | 0 | 1 |
| Other Assets + | 1,705 | 1,858 | 2,487 | 3,059 | 4,236 | 5,795 | 6,688 |
| Total Assets | 2,038 | 2,182 | 2,842 | 3,445 | 4,621 | 6,233 | 7,354 |
Financials of Transrail Lighting Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 188 | 65 | 46 | 143 | 35 | 287 | 643 |
| Cash from Investing Activity + | -50 | -3 | -81 | -105 | -78 | -498 | -209 |
| Cash from Financing Activity + | -146 | 5 | 3 | 29 | 28 | 242 | -190 |
| Net Cash Flow | -7 | 66 | -32 | 67 | -15 | 32 | 244 |
| Free Cash Flow | 176 | 40 | -29 | 91 | 8 | 150 | 395 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 79% | 41% | 33% | 43% | 26% | 54% | 87% |
Financials of Transrail Lighting Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 93 | 82 | 100 | 75 | 92 | 91 | 92 |
| Inventory Days | 107 | 80 | 86 | 63 | 62 | 77 | 91 |
| Days Payable | 316 | 292 | 329 | 263 | 274 | 332 | 330 |
| Cash Conversion Cycle | -116 | -129 | -144 | -126 | -120 | -165 | -147 |
| Working Capital Days | 28 | 33 | 45 | 30 | 52 | 48 | 41 |
| ROCE % | 30% | 22% | 27% | 35% | 35% | 34% |
Guidance history
How Transrail Lighting Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Flat | Planned | Planned | Rising |
| Q4 FY26 call → | 20–40% | Flat | Planned | — | Rising |
| Q3 FY26 call → | 20–40% | Flat | Planned | Planned | Rising |
| Q2 FY26 call → | 20–40% | Flat | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
8 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 | −40.8% | 11% |
| Last 6 months | −27.2% | 10% |
| Last 3 months | −10.9% | 38% |
The price is 45.5% below its all-time high of ₹799.4 (15 Sept 2025). Stocks more than 20% below their peak have their score halved, so 16 became 8.
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 Transrail Lighting Ltd: 0.4 × 11 + 0.4 × 10 + 0.2 × 38 = 16, halved to 8 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 29 Oct 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 Transrail Lighting Ltd's management said in earlier quarters
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