Transrail Lighting Limited
NSE: TRANSRAILLHeavy Electrical Equipment
Share price
₹464.65
-1.59% close of 9 Oct 2026
Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 8 Oct 2026, the close above is 9 Oct 2026.
Business score
How strong the business is, in one number. The parts behind it are in Pro.
73
out of 100 · worked out 9 Oct 2026
Your ratios
The numbers you want to see first. Tap Edit to change them.
Market cap
₹6,273 Cr
P/E ratio
15.0
P/B ratio
2.7
ROCE
33.6%
ROE
20.0%
Dividend yield
0.6%
Price & valuation chart
How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.
Answers
Simple answers to the questions investors ask most, from the company's own numbers.
How fast it has been growing
Fewer than three years of filings — too early to judge growth.
Whether it grew faster than its sector
It grew 29.3% a year against a sector median of 10.6% — 18.7 percentage points faster.
Room to re-rate, or risk of de-rating
Too little price history yet to compare it with its own past.
Whether growth justifies the valuation
Priced at 0.3 times its growth rate, on earnings growth of 56%.
| Profit growth | Price per ₹1 profit | Per 1% growth | |
|---|---|---|---|
| Transrail Lighting Limited — this one | 56%/yr | 15.0× | ₹0.27 |
| Bharat Heavy Electricals | 36%/yr | 62.0× | ₹1.7 |
| ABB India | — | 92.4× | — |
| Hitachi Energy India Limited | 122%/yr | 119.9× | — |
| CG Power and Industrial Solutions Limited | 10%/yr | 105.9× | ₹10.6 |
| Siemens India | 23%/yr | 85.0× | ₹3.7 |
Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
How it compares with its peers
Against companies the exchange files under the same label (Heavy Electrical Equipment), it ranks 11 of 36 on returns, 7 of 31 on growth, 22 of 36 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
What makes it hard to beat — and is that still true?
A narrow advantage: it earns 33.6% on capital, ahead of 69% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
Whether its growth pays for itself
Yes — Over the last five years it made ₹1154 crore of cash from the business and spent ₹539 crore on plant and equipment, with ₹615 crore to spare; it still raised ₹112 crore mostly borrowed — borrowings rose from ₹469 crore to ₹678 crore. And the profit is real: of every 100 rupees it reported over 7 years, about 105 arrived as cash (before interest, which is why it can exceed the profit).
Profit reality check
Is the profit real cash? Simple checks on the accounts. Facts only, not advice.
8 of 10 checks clear · 80%
Latest result · Q1 FY27
What the last results showed. Whether management kept its word is in Pro.
Grew revenue 5% in a slow first quarter but held the 20% full-year growth and 11%-plus margin promises
Announced 6 Aug 2026 · Consolidated · Unaudited
Revenue
₹1,736 Cr
Revenue vs last year
+4.6%
Revenue vs last quarter
-6.8%
Net profit
₹108 Cr
Profit vs last year
+1.8%
Profit vs last quarter
+12.4%
Net margin
6.2%
EPS
₹8.04
Earnings call transcript · 7 Aug 2026
Checklist before you investPRO
Points for and against, in one list.
Key numbers & peers
The main numbers grouped by topic, and how the company compares with similar ones.
Price
- Market cap
- ₹6,273 Cr
- Prev close
- ₹464.65
- 52w High
- ₹765
- 52w Low
- ₹401
- Enterprise value
- ₹6,187 Cr
- Beta
- 1.4
- Price CAGR 1y
- -36.0%
- Price CAGR 3y
- —
- Price CAGR 5y
- —
- Price CAGR 10y
- —
Ratios
- Return on assets
- 5.5%
- PEG ratio
- 0.3
- P/E ratio
- 15.0
- P/B ratio
- 2.7
- EV / EBITDA
- 7.5
- Industry P/E
- 48.8
- ROCE
- 33.6%
- ROCE 5y average
- 30.6%
- ROE
- 20.0%
- Debt / Equity
- 0.3
- Interest coverage
- 2.7
- Dividend yield
- 0.6%
- ROE 3y average
- 21.0%
- ROE last year
- 20.0%
Annual P&L
- Annual revenue
- ₹6,880 Cr
- Annual profit
- ₹404 Cr
- Operating margin
- 14.0%
- Net profit margin
- 5.9%
- EBITDA margin
- 13.7%
- Sales growth 3y
- 29.7%
- Sales growth 5y
- 25.9%
- Profit growth 3y
- 56.0%
- Profit growth 5y
- 33.0%
- EPS
- ₹30.1
- Sales growth TTM
- 15.0%
- Profit growth TTM
- 10.0%
- Dividend payout
- 7.0%
Quarter P&L
- Sales latest quarter
- ₹1,736 Cr
- Profit latest quarter
- ₹108 Cr
- YoY quarterly sales growth
- 4.6%
- YoY quarterly profit growth
- 1.9%
- OPM latest quarter
- 11.7%
Balance Sheet
- Book Value
- ₹169
- Face Value
- ₹2.0
- Total debt
- ₹678 Cr
- Total cash
- ₹763 Cr
- Borrowings
- ₹678 Cr
- Reserves / Equity
- 83.5
Cash Flow
- Operating cash flow
- ₹643 Cr
- Free cash flow
- ₹395 Cr
- FCF yield
- 0.9%
- Net cash flow
- ₹244 Cr
Shareholding
- Promoter holding
- 71.1%
- FII holding
- 2.5%
- DII holding
- 6.5%
- Public holding
- 19.9%
Peer comparison
| Company | Price ₹ | P/E | Mkt cap ₹ Cr | Div yield % | Profit qtr ₹ Cr | Profit var % | Sales qtr ₹ Cr | Sales var % | ROCE % |
|---|---|---|---|---|---|---|---|---|---|
| B H E L | 432.90 | 62.0 | 1,50,739 | 0.31 | 376.7 | 182.7 | 7,697.7 | 40.3 | 9.1 |
| A B B | 6,779.00 | 93.3 | 1,43,653 | 0.57 | 362.3 | 8.0 | 3,558.9 | 21.0 | 29.9 |
| Hitachi Energy | 30,850.00 | 115.4 | 1,37,506 | 0.03 | 294.2 | 123.5 | 2,493.7 | 68.6 | 29.4 |
| CG Power & Ind | 867.75 | 107.4 | 1,36,711 | 0.15 | 308.3 | 16.3 | 3,280.8 | 14.0 | 26.7 |
| Siemens | 3,664.90 | 86.8 | 1,30,515 | 0.48 | 2,143.1 | -18.6 | 4,713.7 | 14.8 | 21.4 |
| Siemens Ener.Ind | 3,256.70 | 76.0 | 1,15,978 | 0.12 | 440.9 | 67.8 | 2,485.6 | 39.3 | 67.8 |
| GE Vernova T&D | 4,215.00 | 79.9 | 1,07,925 | 0.23 | 363.0 | 24.6 | 1,836.1 | 38.0 | 77.4 |
| Transrail Light | 474.20 | 15.2 | 6,366 | 0.62 | 107.9 | 1.9 | 1,736.0 | 4.6 | 33.6 |
| Median | 432.90 | 33.1 | 5,893 | 0.04 | 41.2 | 15.5 | 466.3 | 20.1 | 23.5 |
Competes with: ABB India, Bharat Heavy Electricals, CG Power and Industrial Solutions Limited, GE Vernova T&D India Limited, Hitachi Energy India Limited, Siemens Energy India Limited, Siemens India
Quarterly results
Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.
| Line item | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 977 | 1,392 | 916 | 1,088 | 1,358 | 1,946 | 1,660 | 1,561 | 1,796 | 1,863 | 1,736 |
| Expenses | 860 | 1,224 | 796 | 950 | 1,178 | 1,710 | 1,461 | 1,377 | 1,569 | 1,657 | 1,534 |
| Material Cost | 802 | 707 | 724 | 978 | 922 | ||||||
| Change in Inventories | -118 | -52 | 67 | -30 | -59 | ||||||
| Purchases of Stock-in-Trade | 0 | 0 | 0 | 0 | 0 | ||||||
| Employee Cost | 79 | 81 | 83 | 83 | 87 | ||||||
| Other Expenses | 698 | 641 | 696 | 623 | 584 | ||||||
| Operating Profit | 117 | 169 | 120 | 138 | 179 | 236 | 199 | 184 | 227 | 207 | 202 |
| OPM % | 12 | 12 | 13 | 13 | 13 | 12 | 12 | 12 | 13 | 11 | 12 |
| Other Income | 6 | 24 | 14 | 8 | 10 | 16 | 12 | 16 | -4 | 11 | 17 |
| Exceptional items (within Other Income) | 0 | 0 | -17 | 0 | 0 | ||||||
| Interest | 43 | 41 | 44 | 46 | 49 | 59 | 50 | 60 | 55 | 54 | 56 |
| Depreciation | 13 | 13 | 13 | 13 | 14 | 16 | 15 | 15 | 17 | 20 | 19 |
| Profit before tax | 68 | 139 | 77 | 87 | 126 | 177 | 147 | 125 | 151 | 144 | 144 |
| Tax % | 32 | 29 | 33 | 36 | 26 | 28 | 28 | 27 | 27 | 33 | 25 |
| Net Profit | 46 | 100 | 52 | 55 | 93 | 127 | 106 | 91 | 110 | 96 | 108 |
| EPS in Rs | 19 | 8.04 | 4.17 | 4.41 | 6.94 | 9.43 | 7.88 | 6.78 | 8.17 | 7.19 | 8.04 |
| Diluted EPS in Rs | 7.83 | 6.73 | 8.13 | 7.15 | 7.99 |
Profit & loss
Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.
| Line item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,881 | 2,172 | 2,338 | 3,152 | 4,077 | 5,308 | 6,880 | 6,956 |
| Expenses | 1,603 | 1,888 | 2,091 | 2,788 | 3,518 | 4,532 | 5,940 | 6,136 |
| Material Cost | 3,210 | |||||||
| Change in Inventories | -134 | |||||||
| Purchases of Stock-in-Trade | 0 | |||||||
| Employee Cost | 326 | |||||||
| Other Expenses | 2,658 | |||||||
| Operating Profit | 278 | 284 | 247 | 364 | 559 | 776 | 941 | 820 |
| OPM % | 15 | 13 | 11 | 12 | 14 | 15 | 14 | 12 |
| Other Income | 22 | 19 | 20 | 19 | 56 | 48 | 32 | 40 |
| Exceptional items (within Other Income) | -17 | |||||||
| Interest | 146 | 138 | 139 | 189 | 246 | 300 | 339 | 225 |
| Depreciation | 32 | 34 | 37 | 46 | 50 | 56 | 66 | 71 |
| Profit before tax | 121 | 132 | 91 | 148 | 318 | 467 | 567 | 564 |
| Tax % | 15 | 25 | 28 | 27 | 27 | 30 | 29 | |
| Net Profit | 102 | 98 | 65 | 108 | 233 | 329 | 404 | 405 |
| EPS in Rs | 243 | 130 | 28 | 47 | 19 | 24 | 30 | 30 |
| Diluted EPS in Rs | 30 | |||||||
| Dividend Payout % | 0 | 0 | 0 | 0 | 8 | 3 | 7 |
Compounded growth
Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.
Compounded sales growth
- 10 years
- —
- 5 years
- 26%
- 3 years
- 30%
- TTM
- 15%
Compounded profit growth
- 10 years
- —
- 5 years
- 33%
- 3 years
- 56%
- TTM
- 10%
Stock price CAGR
- 10 years
- —
- 5 years
- —
- 3 years
- —
- 1 year
- -36%
Return on equity
- 10 years
- —
- 5 years
- 20%
- 3 years
- 21%
- Last year
- 20%
Balance sheet
What the company owns and what it owes, at the end of each year. ₹ crore.
| Line item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 8 | 23 | 23 | 25 | 27 | 27 |
| Reserves | 435 | 560 | 640 | 749 | 1,114 | 1,854 | 2,254 |
| Borrowings | 346 | 429 | 469 | 621 | 667 | 661 | 678 |
| Other Liabilities | 1,253 | 1,185 | 1,710 | 2,053 | 2,814 | 3,691 | 4,395 |
| Minority Interest | 0 | ||||||
| Total Liabilities | 2,038 | 2,182 | 2,842 | 3,445 | 4,621 | 6,233 | 7,354 |
| Fixed Assets | 321 | 317 | 334 | 379 | 374 | 425 | 600 |
| CWIP | 11 | 4 | 17 | 4 | 6 | 12 | 65 |
| Investments | 0 | 3 | 3 | 3 | 5 | 0 | 1 |
| Other Assets | 1,705 | 1,858 | 2,487 | 3,059 | 4,236 | 5,795 | 6,688 |
| Total Assets | 2,038 | 2,182 | 2,842 | 3,445 | 4,621 | 6,233 | 7,354 |
Cash flows
Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.
| Line item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 188 | 65 | 46 | 143 | 35 | 287 | 643 |
| Cash from Investing Activity | -50 | -3 | -81 | -105 | -78 | -498 | -209 |
| Cash from Financing Activity | -146 | 5 | 3 | 29 | 28 | 242 | -190 |
| Net Cash Flow | -7 | 66 | -32 | 67 | -15 | 32 | 244 |
| Free Cash Flow | 176 | 40 | -29 | 91 | 8 | 149 | 395 |
Ratios
How fast customers pay, how long stock sits, and how well capital earns — year by year.
| Line item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Debtor Days | 93 | 82 | 100 | 75 | 92 | 91 | 92 |
| Inventory Days | 107 | 80 | 86 | 63 | 62 | 77 | 91 |
| Days Payable | 316 | 292 | 329 | 263 | 274 | 332 | 330 |
| Cash Conversion Cycle | -116 | -129 | -144 | -126 | -120 | -165 | -147 |
| Working Capital Days | 28 | 33 | 45 | 30 | 52 | 48 | 41 |
| ROCE % | 30 | 22 | 27 | 35 | 35 | 34 |
Price trend
The price as a Renko brick chart: small moves drop out so the bigger path stands out.
Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.
Open interestPRO
Where option traders are positioned on this stock.
Industry numbers
The numbers that matter most in this industry, from the company's own filings.
1 when an audit qualification is filed as repetitive
0.00flag
2026-03-31
the company's own unlisted debt securities in default at period end
0.00cr
2026-06-30
the company's own loans / revolving facilities in default at period end (standalone filing)
0.00cr
2026-06-30
net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash
-85.98inr_cr
2026-03-31
net debt as the company states it (net cash negative)
466inr_cr
2026-06-30
order book, Rs crore
16,035inr_cr
2026-06-30
order inflow
1,034inr_cr
2026-06-30
guarantees / comfort given for promoter, promoter group, directors and KMP
0.00cr
2026-03-31
loans outstanding to promoter, promoter group, directors and KMP (governance filing)
79.00cr
2026-03-31
security given for the borrowing of promoter, promoter group, directors and KMP
0.00cr
2026-03-31
FY revenue / permanent employees + workers, same basis (calc)
2,45,66,536inr
2026-03-31
News
News and filings about Transrail Lighting Limited. Open one to see why it matters.
No recent news for this company.
Supply chain
Who it buys from, sells to and competes with — as recorded in our map of company links.
Competes with
Uses as raw material
- aluminium
- cement
- ready-mix concrete
- reinforcement / structural steel
- steel
- zinc
Depends on the price of
- aluminium
- steel
- zinc
Sells to
- Adani Energy Solutions Limited · power T&D EPC services and transmission infrastructure
- Power Grid Corporation · turnkey T&D EPC for transmission lines/substations; supply of lattice towers, conductors a…
About
What the company is, from our own records: where it sits, where it makes things, and what it is made of.
- Sector
- Capital Goods
- Industry
- Heavy Electrical Equipment
- Classification
- Capital Goods › Heavy Electrical Equipment
- ISIN
- INE454P01035
Plants
- Butibori Greenfield Tower Plant · Butibori / Nagpur, Maharashtra
- Deoli Plant - Towers and tower testing facility · Deoli / Wardha, Maharashtra
- Silvassa Plant - Conductors · Silvassa, Dadra and Nagar Haveli and Daman and Diu
- Silvassa Plant - Poles · Silvassa, Dadra and Nagar Haveli and Daman and Diu
- Vadodara Plant - Towers · Vadodara / Savli, Gujarat
News impact
Big market events that reach Transrail Lighting Limited, and how the effect spreads.
26 Jul, 04:23 IST · Market event · high impact
Adani Energy Solutions wins ~Rs 8,500-crore Andhra inter-state transmission project; order book crosses Rs 80,000 crore
Adani Energy Solutions won a big Rs 8,500-crore power-line contract in Andhra Pradesh, which is good for the company and the firms that supply it towers, cables and transformers, though its shares are already expensive so the gain may be small.
Who it hits first
- Adani Energy Solutions won a ~Rs 8,500-crore inter-state transmission project in Andhra Pradesh (to carry power for proposed Vizag green-hydrogen/ammonia plants), pushing its transmission order book past Rs 80,000 crore.
Who may gain
- Transmission-equipment and EPC suppliers linked to Adani Energy Solutions — Transrail Lighting (towers/EPC), KEC International (EPC), Apar Industries (conductors), Transformers & Rectifiers India (transformers) — get an incremental read-through as India's transmission build-out continues.
- Note: the specific vendor split for this project is not yet announced, so supplier benefit is a read-through, not a confirmed order.
Along the supply chain
Downstream
The line will evacuate power for the proposed Vizag green-hydrogen/ammonia plants, so downstream benefit depends on those end-projects actually being built on schedule.
Upstream
Tower fabricators (Transrail, KEC), conductor makers (Apar) and transformer makers (TARIL) are the upstream vendors who could supply the project's hardware and construction.
Where demand moves
Business
A new transmission project creates multi-year demand for towers, conductors, transformers and construction services; those orders would flow to Adani's regular equipment and EPC vendors as the project is built out.
Capital
Order-book news tends to draw momentum buyers into Adani Energy Solutions and the T&D equipment basket; but with the stock already richly valued, the capital inflow is modest and fade-prone.
How it spreads across sectors
Power
Reinforces the strong power-transmission capex cycle; positive for T&D equipment and EPC names, immaterial for the incumbent Power Grid at its scale.
When it plays out
Immediate
Adani Energy Solutions ticks up on the order-win headline; T&D equipment names get a mild sympathy read.
Medium term
Revenue recognition is multi-year and back-ended; execution pace and the green-hydrogen off-take determine whether the order converts to earnings over 1-6 months and beyond.
Short term
Watch for the project's contractor/vendor awards over 1-4 weeks to confirm which suppliers actually benefit.
Dividends, splits & big trades
Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.
Dividends
| 11 Sep 2026 | unspecified | ₹2 |
|---|---|---|
| 3 Aug 2026 | interim | ₹3 |
| 4 Sep 2025 | unspecified | ₹0.8 |
Splits, bonuses & buybacks
- daily-prices repair: 3 rows from NSE's archive (replace 1, delete 1, insert 1), 2025-03-18..2026-02-01 (docs/flat_day_repair.md)1× · 18 Mar 2025
Bulk & block deals
| Date | Who | Bought / sold | Shares | Price |
|---|---|---|---|---|
| 22 Sep 2026 | MICROCURVES TRADING PRIVATE LIMITED | SELL | 10,10,878 | ₹473.41 |
| 22 Sep 2026 | MICROCURVES TRADING PRIVATE LIMITED | BUY | 10,10,878 | ₹473.07 |
| 22 Sep 2026 | QE SECURITIES LLP | SELL | 7,56,127 | ₹465.81 |
| 22 Sep 2026 | QE SECURITIES LLP | BUY | 7,28,735 | ₹467.93 |
Documents
Annual reports, results presentations and earnings calls, straight from the source.
- Annual report · 2025-262 Sep 2026
- Earnings call8 Aug 2026
- Earnings call · Q1FY277 Aug 2026
- Results presentation30 Jun 2026
- Earnings call · Q3FY263 Feb 2026
- Annual report · 2024-2529 Aug 2025
Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.