Key Financial Figures (Standalone)

Q2FY27 Performance:

  • Operational Revenue: Increased by 1.5% Year-over-Year (YoY)
  • Total Revenue: ₹734 crore, up 0.7% YoY (restated due to accounting reclassification)
  • Profits: Decreased due to lower exports and change in revenue mix
  • EBITDA: Calculated as PBT + Interest + Depreciation + Amortization - Other Income

H1FY27 Performance:

  • Healthy revenue momentum led by growth in turnkey, leasing, and energy business
  • Margins remained above guided range despite profit decrease

Dividend Declaration:

  • Board declared Interim Dividend of ₹1.90 per share
  • Dividend Payout Ratio: 97%

Operational Highlights

Order Book & New Business:

  • Order Book: ₹9,388 crore as of Q2FY27
  • New Orders: Added ₹446 crore of new orders including extensions during the quarter
  • Order Rate: Described as "One order a Day company"

Segment Performance (Q2FY27 Standalone):

  • Turnkey Projects: Momentum in execution
  • Leasing: Revenue increase due to locomotive addition and utilization
  • Exports: Lower during quarter; pickup started from Q3 with supply of first rake of coaches to Bangladesh (until October 2026)
  • Consultancy: Continued operations
  • Un-allocable expenses: ₹37 crore in Q2FY27 (₹34 crore in Q2FY26)

Segment Performance (H1FY27 Standalone):

  • Turnkey: Better execution led to revenue increase
  • Leasing: Revenue increase due to loco addition and utilization
  • Exports: Momentum expected in H2FY27 with supplies to Bangladesh Railways & ICVL Mozambique
  • Un-allocable expenses: ₹73 crore in H1FY27 (₹66 crore in H1FY26)

Subsidiary Performance:

  • REMC Ltd: Showing increasing revenue trend with maintained margins and flat profits
  • REMC EBITDA: Calculated as PBT + Interest + Depreciation + Amortization - Other Income

Employee Information

  • Total Employees: 3,111 as of September 30, 2026 (3,124 as of June 30, 2026; 2,672 as of September 30, 2025)
  • Regular Employees: 1,682
  • Deputation Employees: 36
  • Contract Employees: 1,393
  • Employee Profile: 80%+ skilled engineers/professionals; Senior management with average 30+ years experience
  • Attrition Rate: 2.76% for FY26 (regular employees)
  • Profit After Tax per Employee: Disclosed metric calculated using average quarterly number of employees

Major Projects Secured in Q2FY27

Secured 130+ projects/contracts including extensions worth ₹446 crore during the quarter:

Consultancy Projects:

  • Consultancy Services for Patna Metro Rail Construction Project: ₹79 crore (Client: Patna Metro Rail Corporation Ltd, Completion: 2031)
  • Feasibility Study and DPR for Haldia River Bridge, West Bengal: ₹21 crore (Client: Public Works Dept, Completion: 2027)
  • Operation and Maintenance of rolling stock for NTPC Farakka: ₹15 crore (Client: National Thermal Power Co. Ltd., Completion: 2028)
  • Detailed Engineering for Technical and Administrative Buildings at Basar, Arunachal Pradesh: ₹9 crore (Client: MES, Completion: 2028)
  • Techo Economic Feasibility for Dadanpatra Port: ₹9 crore (Client: Govt. of West Bengal, Completion: 2027)
  • FSR & DPR for Augmentation of Rail Network Bhilai Steel Plant: ₹8 crore (Client: SAIL, Completion: 2027)
  • Architecture & Engineering Services for Residential Complex (Ph-II) Newtown: ₹9 crore (Client: Govt of West Bengal, Completion: 2027)
  • Structural Health Assessment of structures on NH-27 in Bihar: ₹6 crore (Client: NHAI, Completion: 2027)

Leasing Projects:

  • WDS6 loco on long term wet lease including maintenance at Coal Handling plant, Chhattisgarh: ₹9 crore (Client: NTPC-Sail Power Co. Limited, Completion: 2028)

Awards & Recognition

  • IEI Industry Excellence Award 2026 for engineering services & consultancy

Memorandum of Understanding (MoU)

  • Signed with NHIDCL for specialized consultancy and technical support
  • Signed with MECON to explore consultancy assignment and infrastructure opportunities

Accounting Note

Due to reclassification of reversal of provisions from other operating income to expenses, revenue figures for Q2FY26 and H1FY26 have been restated for comparable analysis.

Forward Outlook

  • Export revenue expected to show profits from Q3FY27 with ongoing supplies to Bangladesh
  • Mozambique supplies expected to commence in H2FY27
  • H2FY27 expected to show profits in Exports segment