Transrail Lighting Ltd.

NSE: TRANSRAILL · Heavy Electrical Equipment

52W Range₹450 ₹856

Snapshot

Unlock Transrail Lighting Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Transrail Lighting Limited is an engineering, procurement, and construction (EPC) company specialising in power transmission, distribution, and railway infrastructure. The firm provides end-to-end services including design, manufacturing, testing, and installation of steel structures, conductors, and civil works for public and private sector clients.

Business Model

The company generates revenue through large-scale EPC contracts for power infrastructure, railway electrification, and civil construction projects. It leverages its manufacturing capabilities for galvanised steel structures and lighting poles to support its project execution services.

  • Founded:1984
  • Parent Company:Ajanma Holdings Private Limited

Management Commentary

Management focuses on delivering integrated infrastructure solutions across power and railway sectors, maintaining a strong presence in both domestic and international markets.

Growth Outlook

Growth is driven by the increasing demand for power transmission infrastructure and railway electrification projects in India. The company continues to expand its service portfolio to include complex civil construction and telecommunication infrastructure.

Key Risks

  • Project Execution Risk. Delays in large-scale EPC projects due to regulatory hurdles or land acquisition issues can significantly impact profitability.
  • Raw Material Price Volatility. Fluctuations in the prices of steel and other raw materials used in manufacturing structures can compress project margins.
  • Concentration Risk. Heavy reliance on government contracts and public sector undertakings exposes the company to changes in government spending priorities.
  • Competitive Intensity. The EPC sector is highly fragmented and competitive, which may lead to aggressive bidding and pressure on contract pricing.

Price

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Key Metrics

P/E

16.8x

Q4 FY26 · consolidated

16.8 vs 15.6x5Y avg

EV/EBITDA

8.1x

Q4 FY26 · consolidated

8.1 vs 8.4x5Y avg

NET PROFIT MARGIN

5.2%

Q4 FY26 · consolidated

-1.3 ppYoY

DEBT TO EQUITY

0.3x

Q4 FY26 · consolidated

-0.05xYoY

Peers · Heavy Electrical Equipment

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Transrail Lighting Ltd.TRANSRAILL
6,73916.828.1224.6%20.3%37.1%-34.8%
Azad Engineering LimitedAZAD
9,098117.3558.9931.8%44.9%9.4%12.9%+51.4%
Elecon Engineering Co. Ltd.ELECON
8,65230.3116.846.2%25.5%16.4%20.9%-24.0%
Voltamp Transformers LimitedVOLTAMP
8,59536.9322.3711.3%19.6%18.6%24.4%-3.0%
Transformers And Rectifiers (India) Ltd.TARIL
8,40337.5923.5524.2%17.7%20.7%28.6%-35.0%
Quality Power Electrical Equipments LtdQPOWER
6,49475.6538.2324.9%40.9%33.1%+48.5%

As of Q4 FY26

Financials