TRANSRAILL

Transrail Lighting Limited

Transrail Lighting Limited (TRANSRAILL) financial statements and selected valuation metrics through 30 June 2026.

Industrials›Capital Goods›Electrical Equipment›Heavy Electrical Equipment

transrail.in

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Key metrics

Price as of 2026-10-16

Stock price

₹465.85

Market cap

6,251 Cr

Stock P/E

15.4

P/B

2.74

Dividend yield

0.2%

ROE (FY26)

17.7%

ROCE (FY26)

26.7%

Operating margin (FY26)

10.9%

Debt / equity (FY26)

0.29

OCF / EBITDA (FY26)

78.4%

OCF / EBITDA (3Y)

49.1%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Transrail Lighting builds power transmission and distribution projects on an engineering, procurement and construction (EPC) basis for clients in India and overseas, and makes the transmission towers and conductors those projects need.

Company snapshot

24thBy market cap

Ranked among 38 companies in Heavy Electrical Equipment.

What we see

Positives

✓Debt-to-equity of 0.29x — the company is largely funded by its own money, not borrowed funds.

Concerns

✗Only 49% of operating profit came in as cash over the last three years — much of it is tied up in unpaid bills or stock.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

Metric	Sept 2024	Dec 2024	Mar 2025	Jun 2025	Sept 2025	Dec 2025	Mar 2026	Jun 2026
Sales	1,088 Cr	1,340 Cr	1,946 Cr	1,660 Cr	1,561 Cr	1,796 Cr	1,863 Cr	1,736 Cr
Operating expenses (approx.)	950 Cr	1,178 Cr	1,710 Cr	1,461 Cr	1,377 Cr	1,569 Cr	1,654 Cr	1,534 Cr
EBITDA	138 Cr	162 Cr	236 Cr	199 Cr	184 Cr	227 Cr	210 Cr	202 Cr
OPM %	12.7%	12.1%	12.1%	12.0%	11.8%	12.6%	11.3%	11.7%
Other income	8 Cr	26 Cr	15 Cr	11 Cr	14 Cr	13 Cr	11 Cr	17 Cr
Interest	46 Cr	49 Cr	59 Cr	50 Cr	60 Cr	55 Cr	54 Cr	56 Cr
Depreciation	13 Cr	14 Cr	16 Cr	15 Cr	15 Cr	17 Cr	20 Cr	19 Cr
Profit before tax	87 Cr	126 Cr	177 Cr	147 Cr	125 Cr	151 Cr	144 Cr	144 Cr
Tax %	36.4%	26.1%	28.4%	27.9%	27.2%	27.5%	32.8%	25.1%
Net profit	55 Cr	93 Cr	127 Cr	106 Cr	91 Cr	110 Cr	97 Cr	108 Cr
EPS (₹)	₹4.40	₹7.48	₹9.97	₹7.88	₹6.78	₹8.17	₹7.19	₹8.04

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	2,350 Cr	3,152 Cr	4,077 Cr	5,308 Cr	6,880 Cr	Sign in free for the trailing twelve months
Operating expenses (approx.)	2,144 Cr	2,859 Cr	3,601 Cr	4,634 Cr	6,060 Cr	Sign in free for the trailing twelve months
EBITDA	206 Cr	293 Cr	475 Cr	673 Cr	820 Cr	Sign in free for the trailing twelve months
OPM %	8.8%	9.3%	11.7%	12.7%	11.9%	Sign in free for the trailing twelve months
Other income	7 Cr	20 Cr	53 Cr	45 Cr	49 Cr	Sign in free for the trailing twelve months
Interest	85 Cr	120 Cr	163 Cr	198 Cr	219 Cr	Sign in free for the trailing twelve months
Depreciation	38 Cr	46 Cr	50 Cr	56 Cr	66 Cr	Sign in free for the trailing twelve months
Profit before tax	90 Cr	148 Cr	318 Cr	467 Cr	567 Cr	Sign in free for the trailing twelve months
Tax %	28.2%	27.5%	26.7%	30.1%	28.8%	Sign in free for the trailing twelve months
Net profit	65 Cr	108 Cr	233 Cr	327 Cr	404 Cr	Sign in free for the trailing twelve months
EPS (₹)	₹11.62	₹9.45	₹19.59	₹25.72	₹30.06	Sign in free for the trailing twelve months
Dividend payout %	—	—	—	5.7%	2.7%	Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	23 Cr	23 Cr	25 Cr	27 Cr	27 Cr
Reserves	640 Cr	749 Cr	1,114 Cr	1,854 Cr	2,254 Cr
Borrowings	469 Cr	605 Cr	643 Cr	643 Cr	659 Cr
Other liabilities	1,710 Cr	2,069 Cr	2,838 Cr	3,708 Cr	4,414 Cr
Total liabilities	2,842 Cr	3,445 Cr	4,621 Cr	6,233 Cr	7,354 Cr
Fixed assets (net)	325 Cr	360 Cr	347 Cr	408 Cr	582 Cr
CWIP	17 Cr	4 Cr	6 Cr	12 Cr	65 Cr
Investments	3 Cr	3 Cr	5 Cr	0.50 Cr	1 Cr
Loans & advances	—	—	—	4 Cr	85 Cr
Inventories	278 Cr	311 Cr	378 Cr	539 Cr	763 Cr
Trade receivables	640 Cr	645 Cr	1,026 Cr	1,317 Cr	1,738 Cr
Cash & bank	58 Cr	125 Cr	110 Cr	141 Cr	385 Cr
Other assets	1,520 Cr	1,997 Cr	2,748 Cr	3,810 Cr	3,735 Cr
Total assets	2,842 Cr	3,445 Cr	4,621 Cr	6,233 Cr	7,354 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	50 Cr	143 Cr	35 Cr	287 Cr	643 Cr
Cash from investing	-81 Cr	-105 Cr	-78 Cr	-498 Cr	-209 Cr
Cash from financing	-0.37 Cr	29 Cr	28 Cr	242 Cr	-190 Cr
Net cash flow	-32 Cr	67 Cr	-15 Cr	32 Cr	244 Cr
Free cash flow (OCF − Capex)	-26 Cr	91 Cr	8 Cr	145 Cr	394 Cr

Ratios

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
ROCE %	15.5%	19.5%	27.0%	26.3%	26.7%
ROE %	9.8%	13.9%	20.5%	17.4%	17.7%
Debtor days	99	74	92	90	92
Inventory days	84	62	61	75	87
Days payable	323	261	271	326	315
Cash conversion cycle	-140	-125	-118	-160	-137
OCF / EBITDA %	24.3%	48.7%	7.5%	42.7%	78.4%
OCF / EBITDA % (3 years)	—	—	23.4%	32.3%	49.1%
Debt / equity	0.71	0.78	0.56	0.34	0.29
Current ratio	1.20	1.19	1.24	1.31	1.31
Net debt / EBITDA	2.00	1.64	1.12	0.75	0.33