Transrail Lighting Posts INR 324 Crore PAT in 9M FY26, UEOB at INR 18,216 Crore

Transrail Lighting Ltd., an Indian EPC company focused on power transmission and distribution (T&D), reported robust financial and operational performance for the third quarter and nine months ended December 31, 2025.

For the nine-month period (9M FY26), the company’s revenue from operations rose 49 percent year-on-year to INR 5,017 crore, compared with INR 3,362 crore in the corresponding period last year. EBITDA increased by 40 percent to INR 614 crore, while operating profit after tax (PAT) grew sharply by 62 per cent to INR 324 crore, reflecting operating leverage and margin discipline.

During Q3 FY26, revenue stood at INR 1,796 crore, up 32 per cent year-on-year. EBITDA rose 27 per cent to INR 228 crore, and operating PAT increased 36 per cent to INR 127 crore. EBITDA margin for the quarter improved to 12.7 per cent, up 77 basis points over the previous quarter.

Order inflows during the nine-month period aggregated INR 5,135 crore, with domestic orders contributing 55 per cent and international orders 45 per cent. As of December 30, 2025, the unexecuted order book (UEOB stood at INR 14,733 crore, up 28 per cent year-on-year. Including L1 positions, the total UEOB reached INR 18,216 crore, providing strong revenue visibility.

In Q3 FY26 alone, the company secured fresh orders worth INR 1,395 crore and won a T&D EPC contract in the GCC region, strengthening its overseas footprint.

Cash and cash equivalents increased to INR 380 crore as of 9M FY26, supported by improved cash inflows and prudent working capital management. The company is also expanding its tower and conductor manufacturing capacities and is upgrading to SAP RISE from SAP HANA to improve operational integration and visibility.

Commenting on the performance, Randeep Narang, Managing Director and CEO, said that the results reflected “executional excellence through growth in revenue, profitability and quality order book.”

“We continued to see healthy order inflows led by the core power T&D segment in India and overseas. Execution remained our key focus, with teams fast-tracking priority projects and maintaining strong delivery discipline. Supported by a robust order book and operational competence, we are well positioned to sustain our growth momentum in the coming quarters,” he said.