Synopsis:
Small-cap transmission stock is in focus today after receiving an international order worth Rs. 548 crore.
A Small-cap company that is an integrated transmission & distribution, and pole manufacturing company, is in the spotlight after receiving an international order worth Rs. 548 crore.
With the market capitalization of Rs. 8,613.87 crore, the shares of Transrail Lighting Limited are trading at Rs. 643, up by 1.73 percent from its previous day’s close price of Rs. 632.05. It has touched an intraday high of Rs. 652.55 in today’s trading session, implying up by 3.24 percent from previous close price.
Work Order
Transrail Lighting Ltd has secured new orders worth Rs. 548 crore, including a major international transmission line EPC project in a new country in the MENA region. With these wins, the company’s total order inflows for FY26 have crossed Rs. 4,285 crore, indicating strong and sustained demand across its power transmission, civil, railways, poles, lighting and solar EPC businesses. Transrail also holds an L1 position of Rs. 2,575 crore, giving it solid visibility for further order inflows through the rest of FY26. As of Q2 FY26, the company has an order book of Rs. 17,799 crore.
Management View
According to MD and CEO Randeep Narang, the new Rs. 548 crore order wins, including a major power transmission and distribution project in a new MENA country, highlight the growing strength of Transrail’s diversified capabilities. He noted that with cumulative FY26 order inflows now exceeding Rs. 4,285 crore and an additional L1 position of Rs. 2,575 crore, the company has strong visibility for the coming quarters. He added that Transrail remains committed to selective bidding, disciplined execution and expanding its presence across key geographies.
About the Company
Transrail is a major engineering, procurement and construction company with over four decades of experience and a strong focus on power transmission and distribution. Headquartered in India, it operates globally across 60 countries on five continents. The company delivers turnkey solutions covering design, engineering, supply, manufacturing, construction and testing across sectors such as power T&D, civil construction, railways, poles and lighting, and solar EPC. It employs more than 2,400 people and operates large manufacturing facilities in India for galvanized lattice towers, overhead conductors and galvanized monopoles, supported by an accredited tower testing facility.
A return on equity (ROE) of about 21.6 percent, a return on capital employed (ROCE) of about 20.7 percent and debt to equity ratio of 0.39 demonstrate the company’s financial position. At the moment, the company’s P/E ratio is 20.7x lower as compared to its industry P/E 48x.
The company delivered solid growth with Q2FY26 revenue at Rs. 1,561 crore, which is 43 percent higher than Rs. 1,088 crore last year, though 6 percent lower than Rs. 1,660 crore in the previous quarter. Profit also improved strongly year-on-year, rising 65 percent to Rs. 91 crore from Rs. 55 crore, but dipped 14 percent compared to Rs. 106 crore in Q1FY26.
Written by Akshay Sanghavi
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