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Transrail Lighting Overview

Transrail Lighting Ltd, established in 2008 and based in Mumbai, is a prominent EPC (engineering, procurement, and construction) company specializing in power transmission, distribution, civil infrastructure, and lighting solutions. With over four decades of experience, the company has executed projects across more than 58 countries, including in Africa, Asia, and Europe. Transrail’s expertise spans four key verticals: power transmission and distribution, railway infrastructure, civil construction, and lighting. The company manufactures and s...Read More

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Transrail Lighting Key Financials

Market Cap ₹7733 Cr.

Stock P/E 23.7

P/B 3.5

Current Price ₹576

Book Value ₹ 162.3

Face Value 2

52W High ₹855.4

Dividend Yield 0.14%

52W Low ₹ 444.9

Transrail Lighting Share Price

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Volume
Price

Transrail Lighting Quarterly Price

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Transrail Lighting Peer Comparison

Transrail Lighting Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 977 837 1392 916 1088 1358 1946 1660 1561 1796
Other Income 6 15 24 14 8 9 15 11 14 13
Total Income 983 852 1417 930 1096 1367 1961 1671 1575 1809
Total Expenditure 858 741 1213 796 950 1178 1710 1461 1377 1569
Operating Profit 125 111 204 134 146 189 251 210 198 240
Interest 43 42 41 44 46 49 59 50 60 55
Depreciation 13 12 13 13 13 14 16 15 15 17
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 -17
Profit Before Tax 70 57 150 77 86 126 175 146 123 150
Provision for Tax 22 12 40 26 32 33 50 41 34 42
Profit After Tax 48 45 110 51 55 93 125 105 89 109
Adjustments -2 4 -10 0 0 0 1 1 2 1
Profit After Adjustments 46 49 100 52 55 93 127 106 91 110
Adjusted Earnings Per Share 0.7 0.8 8 4.2 4.4 6.9 9.4 7.9 6.8 8.2

Transrail Lighting Profit & Loss

#(Fig in Cr.) Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 1283 1850 1934 1881 2186 2350 3152 4077 5308 6963
Other Income 41 6 11 22 15 26 37 62 74 53
Total Income 1324 1856 1945 1903 2201 2376 3189 4138 5382 7016
Total Expenditure 1143 1625 1660 1603 1897 2109 2807 3526 4561 6117
Operating Profit 181 231 285 300 304 267 382 612 821 899
Interest 99 99 123 146 138 139 189 246 300 224
Depreciation 27 30 31 32 34 38 46 50 56 63
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 -17
Profit Before Tax 56 101 131 121 131 90 148 318 467 594
Provision for Tax 5 25 44 18 33 25 41 85 141 167
Profit After Tax 51 76 88 103 98 65 108 233 327 428
Adjustments 0 0 0 0 2 0 0 0 0 5
Profit After Adjustments 51 76 88 103 100 65 108 233 327 434
Adjusted Earnings Per Share 509.1 36.1 41.7 49 26.4 5.7 9.4 18.8 24.3 32.3

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 30% 31% 23% 0%
Operating Profit CAGR 34% 45% 22% 0%
PAT CAGR 40% 71% 26% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 15% NA% NA% NA%
ROE Average 22% 20% 18% 25%
ROCE Average 36% 33% 30% 30%

Transrail Lighting Balance Sheet

#(Fig in Cr.) Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 142 243 336 439 568 663 771 1139 1881
Minority's Interest 0 0 0 0 0 0 0 0 0
Borrowings 293 232 198 132 98 118 120 81 39
Other Non-Current Liabilities 56 70 45 52 58 61 69 80 79
Total Current Liabilities 1121 1072 1189 1415 1458 2000 2484 3321 4234
Total Liabilities 1613 1617 1768 2038 2182 2842 3445 4621 6233
Fixed Assets 318 319 309 321 317 334 379 374 425
Other Non-Current Assets 71 38 67 78 83 114 120 115 257
Total Current Assets 1223 1259 1387 1638 1782 2394 2946 4132 5551
Total Assets 1613 1617 1768 2038 2182 2842 3445 4621 6233

Transrail Lighting Cash Flow

#(Fig in Cr.) Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 24 42 33 30 23 89 58 125 110
Cash Flow from Operating Activities 76 206 72 188 85 50 143 35 287
Cash Flow from Investing Activities -14 -40 -29 -50 -20 -81 -105 -78 -498
Cash Flow from Financing Activities -44 -175 -45 -146 3 -0 29 28 242
Net Cash Inflow / Outflow 18 -9 -3 -7 67 -32 67 -15 32
Closing Cash & Cash Equivalent 42 33 30 23 89 58 125 110 141

Transrail Lighting Ratios

# Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 509.1 36.12 41.67 49.02 26.36 5.7 9.44 18.81 24.33
CEPS(Rs) 775.4 50.59 56.4 64.39 34.94 9.03 13.46 22.87 28.54
DPS(Rs) 0 0 0 0 0 0 0 1.5 0.8
Book NAV/Share(Rs) 1415.8 115.55 160.11 208.71 149.66 58.27 67.67 91.82 139.91
Core EBITDA Margin(%) 10.26 11.91 14.17 14.75 13.19 10.26 10.94 13.5 14.07
EBIT Margin(%) 11.33 10.61 13.11 14.21 12.3 9.73 10.69 13.84 14.46
Pre Tax Margin(%) 4.08 5.36 6.78 6.44 6 3.84 4.7 7.8 8.8
PAT Margin (%) 3.73 4.02 4.52 5.47 4.49 2.75 3.41 5.72 6.15
Cash Profit Margin (%) 5.68 5.63 6.12 7.19 6.05 4.36 4.87 6.95 7.22
ROA(%) 3.16 4.7 5.17 5.41 4.65 2.58 3.42 5.78 6.02
ROE(%) 35.96 39.49 30.23 26.58 19.54 10.54 15.01 24.43 21.66
ROCE(%) 22.99 30.9 36.56 33.84 29.67 21.49 26.87 35.74 35.64
Receivable days 196.65 156.69 138.32 103.01 81.04 87.81 74.38 74.81 80.57
Inventory Days 68.34 49.41 44.79 47.42 41.87 39.68 34.13 30.86 31.54
Payable days 235.46 123.33 113.85 167.84 163.19 159.04 124.2 127.96 150.94
PER(x) 0 0 0 0 0 0 0 0 19.01
Price/Book(x) 0 0 0 0 0 0 0 0 3.31
Dividend Yield(%) 0 0 0 0 0 0 0 0 0.17
EV/Net Sales(x) 0.38 0.19 0.2 0.16 0.14 0.16 0.14 0.11 1.17
EV/Core EBITDA(x) 2.67 1.51 1.36 1 0.99 1.43 1.13 0.73 7.59
Net Sales Growth(%) 0 44.2 4.54 -2.77 16.21 7.53 34.13 29.32 30.2
EBIT Growth(%) 0 29.36 26.75 5.38 0.54 -14.89 47.34 67.46 35.97
PAT Growth(%) 0 49.01 15.34 17.66 -4.63 -34.09 66.24 116.79 40.06
EPS Growth(%) 0 -92.9 15.34 17.66 -46.24 -78.38 65.58 99.37 29.32
Debt/Equity(x) 3.75 1.57 1.28 0.86 0.76 0.71 0.78 0.57 0.34
Current Ratio(x) 1.09 1.18 1.17 1.16 1.22 1.2 1.19 1.24 1.31
Quick Ratio(x) 0.86 0.94 0.98 0.97 1.06 1.06 1.06 1.13 1.18
Interest Cover(x) 1.56 2.02 2.07 1.83 1.95 1.65 1.79 2.29 2.56
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0.1

Transrail Lighting Shareholding Pattern

# Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 71.12 71.12 71.12 71.12 71.12 71.12 71.12
FII 1.59 1 0.61 1.43 1.15 1.13 2.16
DII 16.41 14.99 13.92 12.44 8.42 8.2 8.15
Public 10.88 12.9 14.35 15.02 19.31 19.55 18.57
Others 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100

Transrail Lighting News

Transrail Lighting Pros & Cons

Pros

  • Company has delivered good profit growth of 25% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 20%
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Debtor days have increased from 127.96 to 150.94days.
  • Stock is trading at 3.5 times its book value.
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