Company Overview & Certifications

  • Core sectors: Railway Safety and Signalling Systems, Digital Telecommunication and Telemetry
  • Industry firsts: First Kavach OEM interfaced with four Electronic Interlocking systems; First OEM to operate Vande Bharat commercially with Kavach
  • RDSO approval for Kavach Version 4.0, which is a precondition to bid for current and forthcoming tenders
  • SIL 4 certified solution (CENELAC Standards) for Level Crossing Control System (LxCS)
  • Successfully completed passenger trials at 160 km/h and proven interoperability with other OEM Kavach Systems
  • Developed integrated Network Management System (NMS) for Kavach enabling centralized monitoring, configuration, diagnostics and health management
  • Automating KAVACH design and engineering workflows to reduce manual intervention and shorten project cycles

Operational Milestones

  • Commissioned and handed over two Kavach projects for North Central Railways against 751 Route Km contracted
  • 632 Route Km commissioned on North Central Railway
  • 93% completion on North Central Rly A (408 RKM, ₹142 Cr)
  • 87% completion on North Central Rly B (342 RKM, ₹139 Cr)
  • On-Board Kavach 4.0 contracts: 50% complete (₹1,271 Cr)
  • Integrated Coach Factory (ICF) on-board contract: ₹34 Cr

Order Book Position

  • Total order book: ₹3,487 Crore (inclusive of GST, KMIL share of contract value)
  • 67% remaining to execute
  • EPC portion: Turnkey trackside Kavach including UHF communication backbone, installation, testing and commissioning through consortium and JV structures with KMIL holding 35-80% share
  • On-board portion: Design, supply, equipment on locomotives and train sets contracted directly at 100% KMIL scope
  • Order book excludes the order received from Jindal Steel Limited (JSL)

Working Capital & Banking Facilities

  • Total banking limits: ₹655 Crore (₹490 Cr sanctioned + ₹165 Cr in process)
  • 25.8x growth since FY23 (from ₹19 Cr to ₹490 Cr sanctioned)
  • Current utilization: ₹373 Crore outstanding
  • Undrawn headroom: ₹281 Crore available against total limits
  • Assessed requirement: ₹664 Crore
  • Historical sanctioned limits: FY23: ₹19 Cr, FY24: ₹44 Cr, FY25: ₹87 Cr, FY26: ₹268 Cr, FY27: ₹490 Cr
  • Order book funded by combination of enhanced bank lines and internal cash generation

Future Projections & Market Opportunity

  • Total executable base (excluding AMC Revenue): ₹8,907 Crore (in hand plus expected new orders)
  • New EPC orders expected: 41,000 KM cumulative across FY27-29
  • Execution base by financial year:
  • FY27: ₹2,105 Cr (₹2,100 Cr order book + ₹5 Cr AMC)
  • FY28: ₹2,200 Cr (₹900 Cr order book + ₹1,250 Cr new orders + ₹50 Cr AMC)
  • FY29: ₹2,422 Cr (₹487 Cr order book + ₹1,750 Cr new orders + ₹185 Cr AMC)
  • Total execution base: ₹6,727 Cr by FY29
  • Additional ₹2,420 Cr of awards to execute from FY30 onwards
  • Capacity build-out ahead of demand with recruitment of technical and project personnel

Business Diversification Roadmap

Company is transforming from railway-safety product company to diversified rail-technology and critical-infrastructure enterprise with four initial growth domains:

1. Train Control & Safety: ABS, CTC & Moving Block; CBTC for Metro Railway

  • Automatic Block Signalling (ABS) order with 35% share valued at approximately ₹38 Cr (including GST)

2. AI, BIM & Digital Twin: Rail Digital Twin; AI-BIM for EWDFC, HSR & RRTS

3. Traffic & Infrastructure Management: Yard Management; Water Bodies Monitoring; ITMS

  • Yard Management win at Jindal Steel Plant: ₹15.90 Cr

4. New Business Lines: Disaster Management & Data Centres; Rail & Metro Projects; O&M; Video Display & Simulators

Five New Sub-Sector Business Lines Revenue Potential

1. Yard Management System: ₹200-250 Cr over 5 years (steel plants, coal mines, ports, freight terminals)

2. Intelligent Traffic Management: ₹1,500-1,850 Cr over 5 years (cities, highways, industrial townships)

3. Data Centre & Disaster Recovery: ₹500-750 Cr over 5 years (Government, PSU, Railways, Metro)

4. Video Display & Simulators: ₹230-260 Cr over 5 years (Defence and aerospace sectors)

5. AI-BIM Digital Twin, DFCCIL: ₹1,000-1,500 Cr over 5 years (DFCCIL EWDFC, Indian Railways, HSR)

Entry Strategy

Common thread: leverage Kavach, signalling and railway electronics with AI, IoT and system integration; enter through partnerships; build recurring AMC/O&M and platform revenue.

Disclaimer

The presentation contains forward-looking statements based on management's current beliefs and assumptions, subject to risks and uncertainties. The Company assumes no responsibility to amend or revise these statements and advises investors to seek professional advice.