Transrail Lighting shares in focus: Q2 PAT soars 65% YoY; fresh order inflows jump 62% to ₹1,992 crore

The company reported a robust set of numbers for the quarter gone by; however, margin was under pressure.

In its earnings release, the company said its operational revenue grew 43% YoY to ₹1,561 crore, while EBITDA jumped 34% YoY to ₹186 crore, supported by improved operating leverage and efficient cost control.

EBITDA margin, however, slipped 80 basis points to 11.93% from 12.73% logged a year ago.

Its profit after tax (PAT) increased by 65% YoY to ₹91 crore.

PAT margin also slipped by 55 basis points to 5.78% from 6.33% earlier.

Transrail Lighting Q2 Results: Key Highlights

• The company said Q2 FY26 witnessed continued execution momentum in the Transmission & Distribution (T&D) segment, reaffirming its position as the company’s core growth engine;

• EBITDA increased by 34% YoY to ₹186 crores while PAT grew to ₹91 crore, reflecting a solid YoY increase of 65%, supported by improved operating leverage and efficient cost control.

• Fresh order inflows during the quarter aggregated ₹1,992 crore an increase of 62% YoY.

• The Unexecuted Order Book (UEOB) stood at ₹15,116 crore as of 30th September 2025, up 46% YoY, underscoring sustained business visibility. Including L1 (Lowest one bidder), the total UEOB stood at ₹17,799 crore.

Transrail Lighting H1 FY26 numbers

• H1 FY26 marked a period of robust growth, backed by continued traction in the T&D segment and timely execution across ongoing projects;

• EBITDA increased by 49% to 386 crores while PAT for H1 FY26 grew to ₹197 crore, rising 84% YoY, reflecting the company’s focus on profit led growth and margin discipline;

• New order inflows during H1 FY26 totaled ₹3,740 crore, primarily from domestic T&D projects, translating into a YoY growth of 66%.

Transrail Lighting Q2: What management said

Randeep Narang, MD & CEO, said, "H1FY26 has been our best-performing half year so far, reflecting the success of our strategy built on business development, revenue growth, and execution excellence, in line with our global ambition. We have seen strong traction in order inflows, led by the core Power T&D segment, along with encouraging momentum across allied verticals. During the quarter, we fast-tracked several high-priority projects, demonstrating our capability to deliver complex assignments within tight execution timelines without compromising on quality."

Narang added, "Our continued success in securing new orders and expanding customer relationships showcases the strength of our business development efforts. With a robust order book and strong execution capabilities, we are well positioned to build on this momentum in the coming quarters.”

About Transrail Lighting

Transrail is a turnkey engineering, procurement and construction (EPC) company with a primary focus on the power transmission and distribution business with four decades of experience in construction and manufacturing.

With its headquarters in India, it is a global enterprise with a footprint in 60 countries across 5 continents. It provides turnkey solutions from designing, engineering, supply, manufacturing, construction, and testing services across all its business verticals, which include transmission lines, substations, renewables, railways, civil construction, and pole & lighting.

Transrail Lighting listing

Shares of Transrail Lighting Ltd surged nearly 37% on the first day of trading on December 27, 2024, against the issue price of ₹432.

The stock listed at ₹585.15, reflecting a jump of 35.45% from the issue price on the BSE. Later in the trade, it soared 39.81% to ₹604.

Shares of the firm started the day at ₹590, surging 36.57% at the NSE.

The initial public offering (IPO) of Transrail Lighting received 80.80 times subscription on the last day of the share sale.

Transrail Lighting's ₹839 crore initial share sale had a price band of ₹410-₹432 per share.

The company's IPO had a combination of a fresh issue of shares worth ₹400 crore and an offer-for-sale of 1.01 crore equity shares by promoter Ajanma Holdings Pvt Ltd.