Transrail Lighting Limited, a leading Indian EPC company with a primary focus on Power Transmission & Distribution (T&D) and integrated manufacturing facilities for lattice structures, conductors, and monopoles, announced its financial results for the quarter and nine months ended 31 December 2025. The company reported strong growth across key financial and operational parameters, supported by robust execution and healthy order inflows.
For the nine months ended FY26, revenue from operations grew by 49% year-on-year to ₹5,017 crore compared with ₹3,362 crore in 9M FY25. EBITDA for the same period increased by 40% year-on-year to ₹614 crore, while operating profit after tax rose sharply by 62% year-on-year to ₹324 crore, reflecting profit-led growth, operating leverage, and margin discipline.
During Q3 FY26, Transrail reported revenue from operations of ₹1,796 crore, registering a year-on-year growth of 32% compared with ₹1,358 crore in Q3 FY25. EBITDA for the quarter stood at ₹228 crore, up 27% year-on-year, while operating profit after tax increased by 36% year-on-year to ₹127 crore. EBITDA margin for the quarter improved to 12.7%, marking an increase of 77 basis points over the previous quarter.
On a reported basis, profit before tax for Q3 FY26 stood at ₹151 crore and profit after tax at ₹110 crore. For the nine-month period, profit before tax was ₹423 crore and profit after tax stood at ₹307 crore. These figures include the statutory impact of new Labour Codes classified as exceptional items for Q3 and 9M FY26.
Operationally, execution momentum remained strong during Q3 FY26, with the Transmission & Distribution segment continuing to anchor overall growth. The company secured fresh orders worth ₹1,395 crore during the quarter, further strengthening its execution pipeline. Transrail also secured a T&D EPC contract in the GCC region during the quarter, reinforcing its international presence.
Capital expenditure expansion for tower and conductor capacities continued at full pace during the period. In parallel, the company progressed with its SAP RISE upgradation from SAP HANA, aimed at strengthening process integration and enhancing operational visibility.
For the nine months ended FY26, order inflows aggregated ₹5,135 crore, with domestic orders contributing 55% and international orders accounting for 45%. As of 30 December 2025, the unexecuted order book stood at ₹14,733 crore, reflecting a 28% year-on-year increase. Including L1 positions, the total unexecuted order book stood at ₹18,216 crore, providing strong revenue visibility for the coming periods.
Cash and cash equivalents stood at ₹380 crore as of 9M FY26, an increase of ₹293 crore over H1 FY26, supported by improved cash inflows and prudent cash management.
Commenting on the performance, Mr Randeep Narang, Managing Director & CEO, said, “Our performance for the quarter and nine months of FY26 reflects executional excellence through growth in revenue, profitability and quality orderbook.
We continued to see healthy order inflows during the period, led by the core Power T&D segment in India and overseas, alongside increasing traction across all verticals. Execution remained a key focus area during the period, with teams fast-tracking priority projects and maintaining strong delivery discipline. Our growth in Revenue and Profitability is a result of overall business processes and efficiencies.
Supported by a robust order book and operational competence, I believe we is well positioned to sustain our growth momentum in the coming quarters.”
Transrail is a leading turnkey engineering, procurement and construction (EPC) company with a primary focus on power transmission and distribution business with 4 decades of experience. With its headquarters in India, it is a global enterprise with a footprint in 63 countries across 5 continents. It provides turnkey solutions from Designing, Engineering, Supply, Manufacture, Construction, Testing services across all its business verticals, which include Transmission Lines, Substations, Civil Construction, Railways, Solar and Pole & Lighting. It has more than 2,700 employees on its roll. As part ofthe Power T&D business, Transrail has large-scale manufacturing facilities in India for Galvanized Lattice Towers, Overhead Conductors and Galvanized Monopoles in addition to a well-accredited Tower testing facility.
