Financial Performance Highlights

Q2 FY27 Performance (Consolidated, ₹ crore)

  • Revenue from Operations: ₹2,056 crore (32% YoY growth from ₹1,561 crore in Q2 FY26)
  • EBITDA: ₹238 crore (28% YoY growth from ₹186 crore)
  • EBITDA Margin: 11.6% (vs 11.9% in Q2 FY26)
  • Depreciation & Amortization: ₹20 crore (35% YoY increase)
  • Other Income: ₹13 crore (-4% YoY)
  • Interest Expenses: ₹73 crore (22% YoY increase)
  • Profit Before Tax: ₹158 crore (26% YoY growth)
  • Taxes: ₹54 crore (66% YoY increase)
  • Profit After Tax: ₹104 crore (12% YoY growth)
  • PAT Margin: 5.0% (vs 5.9% in Q2 FY26)
  • Basic EPS: ₹7.74
  • Diluted EPS: ₹7.73

H1 FY27 Performance (Consolidated, ₹ crore)

  • Revenue from Operations: ₹3,792 crore (18% YoY growth from ₹3,221 crore)
  • EBITDA: ₹441 crore (14% YoY growth from ₹386 crore)
  • EBITDA Margin: 11.6% (vs 12.0% in H1 FY26)
  • Depreciation & Amortization: ₹39 crore (34% YoY increase)
  • Other Income: ₹30 crore (19% YoY growth)
  • Interest Expenses: ₹129 crore (17% YoY increase)
  • Profit Before Tax: ₹302 crore (11% YoY growth)
  • Taxes: ₹90 crore (22% YoY increase)
  • Profit After Tax: ₹212 crore (7% YoY growth)
  • PAT Margin: 5.5% (vs 6.1% in H1 FY26)
  • Basic EPS: ₹15.78
  • Diluted EPS: ₹15.74

Operational Highlights

Execution Milestones (H1 FY27)

  • Constructed 775 CKM of Transmission Lines
  • Completed 400kV river crossing Transmission line project in Bangladesh with tower height of 120 meters, weight of 250 MT, and steel pile depth of 113 meters below riverbed
  • Completed Nepal's 400kV cross-border transmission line (18 km)
  • Completed supply of first Transmission Monopole to Australia
  • Completed 167 km of 25 kV AC traction OHE for Southern Railway
  • Completed Bikaner 400 kV TL project
  • Completed Koppal 400 kV D/C Line

Order Book & Inflows

  • Order Intake for H1 FY27: ₹1,638 crore
  • Additional new orders in October 2026: ₹1,747 crore
  • New orders worth ₹777 crore added for multiple reconductoring projects using HTLS conductors
  • Conductor supply order received from USA
  • Project pipeline under evaluation: ~₹18,000 crore
  • Order book visibility: 93% as of September 30, 2026

Strategic Developments

  • GACTEL acquisition integration underway focusing on operational synergies and value chain consolidation
  • Entering renewable power generation through 49% equity stake acquisition in Onix Renewable Limited with financial and project management control
  • Flexibility to increase shareholding up to 100% subject to mutually agreed terms and approvals

Capacity Expansion

  • Tower manufacturing capacity expanded to 184,400 MTPA
  • Conductor capacity increased 70% to 40,800 KMPA
  • Monopoles capacity: 12,000 MTPA

Manufacturing Capabilities

  • 5 manufacturing facilities: Tower Factory (Deoli, Vadodara, Butibori, Silvasa), Conductor & Pole Factory (Silvassa)
  • In-house tower testing facility capable of testing towers exceeding 95 meters height and up to 1,200 kV
  • 22,000+ cumulative engineering man-months expertise
  • 590+ towers tested in-house

Credit Ratings

  • Long Term: CRISIL & INDIA Ratings AA-/Stable (INDIA Ratings upgraded in August 2026)
  • Short Term: CRISIL & INDIA Ratings A1+

Cash Flow & Working Capital

  • Cash flow generated from operations in H1FY27: ₹435 crore
  • Improved receivables management reducing trade receivables
  • Net Working Capital days broadly comparable to March 2026 levels

Global Presence

  • Operations across 28+ African countries
  • Presence in SAARC and Southeast Asia regions
  • Over 400 expatriates supporting international projects
  • ~40% share of UEO&B market

Awards & Recognition

  • ET Edge "Best Organisations to Work" 2026
  • RoSPA Silver Award for health and safety on Cameroon TL project
  • Ranked 3rd largest power service company in India by Fortune 500

ESG Initiatives

  • Water target: 100% zero liquid discharge by FY2030
  • GHG reduction target: 2% annually, 10% by 2030
  • Scope-1 Emissions: 657 tCO₂e
  • Scope-2 Emissions: 12,945 tCO₂e
  • Rooftop Renewable Electricity: 99,071 kWh
  • 4,350 saplings planted at Silvassa and Ashta, Nagpur

CSR Activities

  • Transrail Aarogya: 7,196 beneficiaries including free medical treatment, dialysis support, eye screening
  • Transrail Saksharta: 10,409 students supported across 48 schools
  • Skill development: 260 youth trained in BFSI, Tally, BPO and retail courses

Management Details

  • Executive Chairman: Digambar Bagde (5 decades of Power T&D experience, founded Transrail in 1984)
  • Managing Director & CEO: Randeep Narang (37+ years experience, previously at KEC International, Bharti Airtel, CEAT Kelani Holdings)
  • Company Secretary and Compliance Officer: Monica Gandhi

Upcoming Events

  • Earnings Call scheduled on Wednesday, November 4, 2026