Transrail Lighting

Quick check

The five things to look at first. Open one for more.

• DebtHigh safetyRated AA- by 2 agencies.
• ResultsGrowingIn the Jun 2026 quarter, sales rose 4.6% and profit rose 1.9% from a year earlier.
• DilutionNo new sharesNo new shares issued in the last year, so existing shareholders' slices were not cut.
• PromotersSteadyThe promoters (founders or parent) own 71% of the company, about the same as in Jun 2025.
• ValuationCheap vs its pastThe share trades at 13.8 times its yearly earnings (P/E), cheaper than 98% of the time in the last 2 years. Its usual P/E is about 21.

Transrail Lighting against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

• Valuation (P/E)13.8 against a typical 30.4: cheaper than most peers (1st = cheapest).10th of 50
• Sales growth+4.6% against a typical +23.8% from a year earlier.33rd of 41
• Profit growth+1.9% against a typical +24.6% from a year earlier.26th of 40
• Share price, 3 months−13.2% against a typical −8.5%.29th of 45
• Size₹ 5,757.9 Cr. market value against a typical ₹ 5,357.9 Cr. (1st = largest).23rd of 47

Exchange filings and their impact on the company.

• 21 Oct 2026Press ReleaseHigh impactPositivePrice +4% that day
  Won Rs 927 cr of new T&D orders, lifting YTD intake to Rs 3,356 cr and supporting ~6% revenue growth.

  Transrail Lighting won fresh orders worth Rs 927 crore, mainly for 765kV and 400kV domestic transmission-line EPC projects plus conductor supply orders to the USA. With this, order intake so far this year has risen to Rs 3,356 crore, including over Rs 2,300 crore announced in the last three weeks. The wins strengthen revenue visibility and highlight continued momentum in domestic and international power T&D demand.

  Full analysisFiling
• 19 Oct 2026Outcome of Board MeetingLow impactPositivePrice +4% on 21 Oct
  Transrail to buy 49% of 990 MW solar SPV for up to Rs 20 cr, entering IPP business with 25-year MSEDCL PPA.

  Transrail Lighting's board approved acquiring a 49% stake in NOPL Pace Green Energy for up to Rs 20 crore in cash, with Onix Renewables holding 51%. The target is an SPV developing a 990 MW (AC) solar portfolio in Maharashtra under PM-KUSUM at a cost of about Rs 3,900 crore, backed by a 25-year power purchase agreement with MSEDCL at Rs 3.10 per unit and sanctioned project debt. The company says further equity will be phased with project milestones, giving it EPC execution opportunities and long-term recurring generation income after commissioning.

  Full analysisFiling
• 14 Oct 2026Press ReleaseMedium impactPositivePrice +4.3% that day
  Won Rs 408 cr of new orders, lifting YTD intake to Rs 2,429 cr and adding ~4% to next-year revenue.

  Transrail Lighting won new orders worth Rs 408 crore, mainly a greenfield GIS substation EPC project in the MENA region plus some domestic orders. With this, order intake in the last fortnight totals Rs 1,394 crore and year-to-date intake stands at Rs 2,429 crore. The wins strengthen the order book and support revenue growth over the next 12 months across domestic and international T&D markets.

  Full analysisFiling
• 9 Oct 2026UpdatesLow impactNeutralPrice −1.6% that day
  Tiny 0.19% ESOP dilution with Rs 3.6 cr inflow; no material business impact.

  Transrail Lighting allotted 258,800 equity shares of Rs 2 each on October 9, 2026 on exercise of 51,760 stock options under ESOP 2023. Each option converted into 5 shares at Rs 140.40 per share, realizing Rs 3.63 crore. Paid-up capital rose to 134.51 million shares; the 0.19% dilution has no material impact on business.

  Full analysisFiling
• 6 Oct 2026Press ReleaseMedium impactPositivePrice +4.3% that day
  Won Rs 412 cr reconductoring orders, lifting YTD intake to Rs 2021 cr plus Rs 409 cr L1.

  Transrail Lighting secured new Transmission & Distribution orders worth Rs 412 crore, mainly domestic transmission-line reconductoring using its in-house high-performance carbon-core HTLS conductors. With this, order intake so far this year has reached Rs 2,021 crore, with additional L1 orders of Rs 409 crore. The company said its expanded tower and conductor capacities and strong T&D tailwinds including Green Energy Corridor Phase-III position it for profitable growth.

  Full analysisFiling

Results dates and other board meetings. Full calendar

Compounded yearly rates over each period.

Listed companies in the same business.

Digambar Chunnilal Bagde

Executive Chairman of the Board

Randeep Narang

Chief Executive Officer, Managing Director

Monica Tanay Gandhi

Compliance Officer and Company Secretary