Financial Performance Overview

Annual Performance (FY26 vs FY25):

  • Revenue from Operations: ₹6,880 crore (FY26) vs ₹5,308 crore (FY25) - 30% YoY growth
  • EBITDA: ₹820 crore (FY26) vs ₹676 crore (FY25) - 21% YoY growth
  • Operating Profit Before Tax: ₹584 crore (FY26) vs ₹467 crore (FY25) - 25% YoY growth
  • Tax Expenses: ₹163 crore (FY26) vs ₹138 crore (FY25) - 18% YoY growth
  • Operating Profit After Tax: ₹421 crore (FY26) vs ₹329 crore (FY25) - 28% YoY growth
  • Operating PAT Margin: 6.1% (both FY26 and FY25)

Quarterly Performance (Q4 FY26 vs Q4 FY25):

  • Revenue from Operations: ₹1,863 crore (Q4 FY26) vs ₹1,946 crore (Q4 FY25) - -4% YoY decline
  • EBITDA: ₹207 crore (Q4 FY26) vs ₹237 crore (Q4 FY25) - -13% YoY decline
  • Operating Profit Before Tax: ₹144 crore (Q4 FY26) vs ₹177 crore (Q4 FY25) - -19% YoY decline
  • Tax Expenses: ₹47 crore (Q4 FY26) vs ₹50 crore (Q4 FY25) - -5% YoY decline
  • Operating Profit After Tax: ₹97 crore (Q4 FY26) vs ₹127 crore (Q4 FY25) - -24% YoY decline
  • Operating PAT Margin: 5.1% (Q4 FY26) vs 6.5% (Q4 FY25)

Key Operational Highlights

Order Book Position:

  • Un-executed Order Book including L1 as on March 31, 2026: ₹16,361 crore
  • Un-executed Order Book including L1 as on March 31, 2025: ₹14,551 crore
  • 12% YoY growth in order book

Cash Flow and Financial Position:

  • Operating cash flows: ₹817 crore in FY26 (nearly doubled compared to previous year)
  • Enhanced working capital efficiency
  • Improved leverage metrics
  • Debt reduction achieved

Capacity Expansion:

  • Doubled Tower manufacturing capacity during FY26
  • Commissioned new greenfield plant at Butiburi
  • In process to double conductor manufacturing capacity

Capital Allocation:

  • Board approved additional capex plan: ₹203 crore
  • Board recommended dividend: 100% on equity share capital (₹2 per equity share) for FY26

Business Segments and Operations

Transrail operates as a turnkey engineering, procurement and construction (EPC) company with primary focus on:

  • Power Transmission and Distribution (Primary business)
  • Railways
  • Civil Construction
  • Solar
  • Pole & Lighting

Geographic Presence:

  • Global enterprise with footprint in 63 countries across 5 continents
  • Headquarters in India

Manufacturing Facilities:

  • Large-scale manufacturing facilities in India for:
  • Galvanized Lattice Towers
  • Overhead Conductors
  • Galvanized Monopoles
  • Well-accredited Tower testing facility

Workforce:

  • More than 2,700 employees

Management Commentary

Mr. Randeep Narang, MD & CEO commented:

  • "Stellar performance for FY26 reflected continued growth momentum despite dynamic operating environment"
  • "Posted highest ever Revenue, EBITDA and PAT numbers"
  • "Robust execution across key business segments and geographies resulting in industry leading margins"
  • "Significant progress in strengthening balance sheet through improved working capital efficiency, debt reduction, and robust operating cash flow generation"
  • "Backed by healthy order book, strong bidding pipeline across businesses and geographies"
  • "Transrail remains well positioned to sustain its growth trajectory over the medium to long term"

Performance Drivers

  • Strong execution across business verticals
  • Continued traction in Power T&D segment
  • Operating leverage benefits
  • Improved efficiencies
  • Disciplined margin management
  • Diversified project portfolio across Power T&D, Railways, Civil and Pole businesses

Notes and Adjustments

*Operating PBT & PAT figures exclude provision made of ₹17 crore in Q3 FY26 towards new labour code.