Transrail Lighting Limited, an engineering, procurement and construction (EPC) company focused on power transmission and distribution (T&D), has reported a 32% year-on-year (Y-o-Y) increase in consolidated revenue from operations to Rs 2,056 crore for the second quarter of FY27, its highest quarterly revenue to date. The company announced its results for Q2 and H1 FY27 on 3 November 2026.
Consolidated EBITDA for the quarter rose 28% Y-o-Y to Rs 238 crore, against Rs 186 crore in Q2 FY26, with the EBITDA margin at 11.6% compared with 11.9% a year earlier. Profit before tax increased 26% to Rs 158 crore from Rs 125 crore. Profit after tax (PAT) rose 12% to Rs 104 crore from Rs 92 crore, while PAT margin stood at 5.0% against 5.9% in Q2 FY26. Tax expenses for the quarter were Rs 54 crore, compared with Rs 33 crore in the corresponding quarter last year.
On a sequential basis, revenue grew 18% from Rs 1,736 crore in Q1 FY27, and EBITDA rose 17% from Rs 203 crore. Profit before tax improved 10% from Rs 144 crore, whereas PAT declined 4% from Rs 108 crore in the previous quarter. The EBITDA margin was 11.7% in Q1 FY27, and the PAT margin was 6.2%.
For the first half of FY27, consolidated revenue from operations was Rs 3,792 crore, up 18% from Rs 3,221 crore in H1 FY26. H1 EBITDA increased 14% to Rs 441 crore from Rs 386 crore, with the margin at 11.6% against 12.0% a year earlier. Profit before tax for the half-year rose 11% to Rs 302 crore from Rs 272 crore, and PAT grew 7% to Rs 212 crore from Rs 198 crore. Tax expenses for H1 were Rs 90 crore, against Rs 74 crore in H1 FY26, and the PAT margin was 5.5% compared with 6.1%.
Transrail reported an unexecuted order book of Rs 14,218 crore as of 30 September 2026. The company also received new orders worth Rs 1,747 crore after the end of the quarter.
On the operational front, the company said it successfully completed a major river crossing transmission project in Bangladesh, which it said demonstrates its execution capabilities and strengthens its track record in international markets.
Transrail has also expanded its manufacturing capacity. Tower capacity has increased to 184,400 MTPA and conductor capacity to 40,800 KMPA, which the company said strengthens its ability to support project execution as well as growth in engineered product sales. The remaining planned capital expenditure is on schedule.
On cash flow, cash flow from operations for H1 FY27 increased to Rs 435 crore, and net working capital (NWC) stood at 82 days. The company said it continues to focus on strengthening its balance sheet.
Commenting on the results, Randeep Narang, MD & CEO, said: “We delivered a remarkable performance during the quarter, with growth in both revenue and profitability Y-O-Y and superior cashflow management, supported by strong execution across our businesses. This robust performance is achieved despite the continued impact on supply chain and logistics, due to the West Asia conflict.”
Narang added that demand in the Power T&D segment remains strong, driven by investments in transmission infrastructure and renewable energy integration. “Our enhanced capacities and capabilities position us to capitalise on these opportunities, while selectively pursuing adjacent businesses that leverage our engineering and execution strengths,” he said.
Looking ahead to the second half of FY27, he said: “Our focus remains on disciplined execution, sustaining margins and building a quality order book. Backed by strong tender pipeline, we remain confident of achieving our FY27 guidance and delivering sustainable long-term value for shareholders.”
