The call ran from 12:31 PM to 1:22 PM IST (52 min).
Key takeaways
Transrail Lighting delivered record Q2 revenue and EBITDA despite supply chain disruptions, supported by aggressive backward integration and a robust T&D order book.
| Management target | Revenue 20.0% FY29 |
|---|
| Revenue growth | 32% YoY growth to ₹2,056 Cr driven by execution momentum. |
|---|---|
| Margins | EBITDA margins stable at 11.6%; aiming for 11%+ sustainability. |
| Order book | Robust at ₹14,218 Cr; additional ₹1,747 Cr secured post-quarter. |
| Demand visibility | Strong multi-decadal cycle in power T&D; GEC-III program provides massive pipeline. |
| Management confidence | High, emphasizing resilience against Middle East logistics crises and margin stability. |
Growth
Revenue grew 32% YoY to ₹2,056 Cr; H1 revenue stands at ₹3,792 Cr with consistent 11.6% EBITDA margins.
Outlook
Management guides for 20% annual revenue growth over the next three years, targeting ₹12,000 Cr by FY29.
Risks
One-off tax impacts and rising interest costs from higher working capital limits narrowed PAT growth to 12%.
Last quarter's promises, checked
Delivered
- Guided FY27 revenue +20% YoY → Q2 +32% YoY to ₹2,056 Cr (= BEAT)
- Guided EBITDA 11%+ → 11.6% H1 (= BEAT)
Partly delivered
- Guided 10–15% win rate on ₹20,000 Cr bids → ₹1,747 Cr secured post-quarter (= PARTIAL)
- Guided ₹10,000 Cr+ FY27 order intake → order book ₹16,035 Cr to ₹14,218 Cr (= PARTIAL)
Missed
- Guided conductor brownfield complete Q1 FY27 → Q2 start pending approvals, not confirmed (= MISS)
- Guided ~25% normalised tax rate → one-off tax impacts cut PAT growth to 12% (= MISS)
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
Transrail Lighting Q2 FY27 Results: Net Profit ₹103.9 Cr, Up 12.4% YoY
Transrail Lighting Ltd reported revenue from operations of ₹2,056 Cr (+31.7% YoY) and net profit of ₹103.9 Cr (+12.4% YoY) for Q2 FY27.
- Key figure
- Net profit ₹103.9 Cr · +12.4% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
Order book stands at ₹16,035 Cr; management maintains 20%+ revenue growth guidance for FY27.
Growth they described
Revenue rose 5% YoY to ₹1,736 Cr; EBITDA hit ₹203 Cr with margins beating guidance at 11.7%.
Call details
| Company | Transrail Lighting Limited |
|---|---|
| NSE symbol | TRANSRAILL |
| ISIN | INE454P01035 |
| Call | Q2 FY27 earnings call |
| Date | Wednesday, 4 November 2026 |
| Time | 12:30 PM IST |
| Length | 52 min |
| Audio | Our stream on YouTube ↗ |
Transrail Lighting Limited: key numbers
- Share price
- ₹456.50
- Market cap
- ₹6,129 Cr
- Revenue (annual)
- ₹6,880 Cr
- Net profit (annual)
- ₹403.6 Cr
- P/E (TTM)
- 14.7×Sector 51.9×
- Promoter holding
- 71.12%+0.00% QoQ
- FII holding
- 1.85%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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