MoneyWorks4Me

Transrail Lighting Ltd (TRANSRAILL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544317 NSE: TRANSRAILL Electric Equipment | Small Cap | Transrail Lighting Share Price

₹412 -7.05 (-1.68%)

As on 11-Sep'26 16:01

Transrail Lighting Ltd (TRANSRAILL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544317 NSE: TRANSRAILL Electric Equipment | Small Cap | Transrail Lighting Share Price

₹412 -7.05 (-1.68%)

As on 11-Sep'26 16:01

Key Metrics
Valuation Multiples
Market Cap
₹5,626 Cr.
Current Price
₹412
52-Week Low / High
₹417 / 823
TTM EPS
₹30.2
TTM Sales
₹6,845 Cr.
Book Value per Share
₹177.6
P/E Ratio
13.89
Lower than its 5-year historical median
Industry PE
54.3
Price to Book (P/B)
2.36
Lower than its 5-year historical median
Price to Sales (P/S)
0.82
Lower than its 5-year historical median
EV/EBITDA
6.30
Lower than its 5-year historical median
Dividend Yield
0.49%
Profitability Efficiency
Return on Equity (ROE)
19.43%
Outperforms industry median
Return on Capital Employed (ROCE)
33.16%
Outperforms industry median
Return on Assets (ROA)
5.94%
Operating Profit Margin
12.7%
Net Profit Margin
5.87%
Gross Profit Margin
9.4%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
29.6%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
17.12%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
22.79%
Asset Quality
Promoter Holding
71.12%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹2,358 Cr.
Equity
₹26.9 Cr.
Face Value
₹2
All Time Low / High
₹375.05 / 855.40

Transrail Lighting stock performance

Key Ratios
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Check Before You Invest

Valuation

Fair

Price Trend

Weak
Q.1 Is Transrail Lighting Ltd a good quality company?
Transrail Lighting Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Transrail Lighting Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Transrail Lighting Ltd vs industry peers?
Transrail Lighting Ltd revenue CAGR is 26.13%, compared to the industry median CAGR of 12.87%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Transrail Lighting Ltd?
Promoters hold 71.12% of the Transrail Lighting Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Transrail Lighting Ltd over the last decade?
Over the last 1 year(s), the stock has delivered a CAGR of -46.46% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Transrail Lighting Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 24.5%30.9%37%33.6%30%21.5%26.8%35.4%35.5%32.9%-
Value Creation
Index
0.81.31.71.51.20.61.01.61.61.4-

Growth Parameters

Sales 1,3281,8271,8751,8372,1552,3293,1524,0775,3086,8796,846
Sales YoY Gr.-37.6%2.6%-2%17.3%8.1%35.3%29.4%30.2%29.6%-
Adj EPS 550.835.841.345.226.94.78.718.923.528.230.8
YoY Gr.--93.5%15.4%9.5%-40.5%-82.6%85.3%117.7%24.4%19.9%-
BVPS (₹) 1,415.7115.6161.7210.5150.858.968.593.8142.5173.4181.6
Adj Net
Profit
55.175.286.89510253.298.8234315378413
Cash Flow from Ops. 75.920674.218982.45214357.7288644-
Debt/CF from Ops. 71.95.825.294.211.22.21-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 20.1%26.1%29.7%29.6%
Adj EPS -28.1%0.9%48.1%19.9%
BVPS-20.8%2.8%36.3%21.7%
Share Price - - - -48.1%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
51.139.129.824.320.18.613.624.120.517.817.3
Op. Profit
Mgn %
8.29.211.61513.29.51113.914.212.812.1
Net Profit
Mgn %
4.24.14.65.24.72.33.15.75.95.56
Debt to
Equity
3.81.61.30.80.80.70.80.60.30.3-
Working Cap
Days
309251260300283323304310318297167
Cash Conv.
Cycle
1291431135529352521233141

Valuation of Transrail Lighting - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales1,2831,8501,9341,8812,1862,3503,1524,0775,3086,880
Operating Expenses + 1,1431,6251,6601,6031,8972,1092,8073,5264,5616,005
Manufacturing Costs2092973423254834614466221,0901,813
Material Costs6189991,0209211,0551,1881,8132,2212,5693,076
Employee Cost 96104112128136159179199259326
Other Costs 220225186228223301369485643790
Operating Profit 140225274277288241345550747875
Operating Profit Margin (%) 10.9%12.1%14.2%14.8%13.2%10.3%10.9%13.5%14.1%12.7%
Other Income + 41611221526376274114
Exceptional Items 000000000-17
Interest 9999123146138139189246300339
Depreciation 27303132343846505666
Profit Before Tax 5610113112113190148318467567
Tax 525441833254185138163
Profit After Tax 5176881039865108233329404
PAT Margin (%) 4.0%4.1%4.5%5.5%4.5%2.8%3.4%5.7%6.2%5.9%
Adjusted EPS (₹)509.136.141.749.026.45.79.418.824.530.1
Dividend Payout Ratio (%)0%0%0%0%0%0%0%8%3.30%6.70%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 1422433364385666627711,1381,8782,277
Share Capital 044482323252727
Reserves 1412383324345596397491,1131,8512,250
Debt +531351394346382388545595604611
Long Term Debt29323219813298118120813989
Short Term Debt237118196215283270425515565523
Minority Interest0000000000
Trade Payables3995385827978431,0711,3081,6692,3402,782
Others Liabilities 5424854564563917218221,2191,4111,685
Total Liabilities 1,6131,6171,7682,0382,1822,8423,4454,6216,2337,354

Fixed Assets

Net Fixed Assets +318319309321317334379374425600
Gross Block3643924114564835376176617651,005
Accumulated Depreciation4573102135166203238287340405
CWIP 01411417461265
Investments 0000333511
Inventories256255220269232278311378539763
Trade Receivables7368845824804916406451,0261,3171,738
Cash Equivalents 47364681136111198224621763
Others Assets 2561216088769991,4581,9052,6083,3183,424
Total Assets 1,6131,6171,7682,0382,1822,8423,4454,6216,2337,354
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 7620672188855014335287643
PBT 5610113112113291147316465566
Adjustment 180136132128115106135171166188
Changes in Working Capital -142-23-144-29-113-112-126-341-21563
Tax Paid -19-8-47-32-49-35-14-110-128-174
Cash Flow From Investing Activity + -14-40-29-50-20-81-105-78-498-209
Capex -12-34-28-12-17-76-52-27-138-248
Net Investments 0000-3-002-220136
Others -2-6-2-38-1-6-53-53-140-97
Cash Flow From Financing Activity + -44-175-45-1463-02928242-190
Net Proceeds from Shares 0000273001404500
Net Proceeds from Borrowing 00-29-77-1953-19-52-5058
Interest Paid -81-81-97-82-75-65-101-143-161-188
Dividend Paid 00000000-19-11
Others 37-94811370-191498222-50
Net Cash Flow 18-9-3-767-3267-1532244
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)35.9639.4930.2326.5819.5410.5415.0124.4321.7919.43
ROCE (%)22.9930.936.5633.8429.6721.4926.8735.7435.6433.16
Asset Turnover Ratio0.851.171.140.991.040.9411.010.981.01
PAT to CFO Conversion(x)1.492.710.821.830.870.771.320.150.871.59
Working Capital Days
Receivable Days196.70156.70138.301038187.8074.4074.8080.6081
Inventory Days68.3049.4044.8047.4041.9039.7034.1030.9031.5034.50
Payable Days235.50123.30113.90167.80163.20159124.20128150.90157.50

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Transrail Lighting Ltd FAQs

The current trading price of Transrail Lighting on 11-Sep-2026 16:01 is ₹412.0.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-Sep-2026 the market cap of Transrail Lighting stood at ₹5,626 Cr

The latest P/E ratio of Transrail Lighting as of 10-Sep-2026 is 13.63.

The latest P/B ratio of Transrail Lighting as of 10-Sep-2026 is 2.31.

The 52-week high of Transrail Lighting is ₹823.0 and the 52-week low is ₹416.5.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Transrail Lighting is ₹6,846 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Transrail Lighting Ltd is a good quality company.

The key valuation ratios of Transrail Lighting Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Transrail Lighting Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Transrail Lighting Ltd

Transrail Lighting Limited was originally incorporated as ‘Transrail Lighting Limited’ at Mumbai, Maharashtra as a public limited company under the Companies Act, 1956, pursuant to the certificate of incorporation dated February 18, 2008, issued by RoC and commenced operations pursuant to a certificate of commencement of business dated March 14, 2008.

The company is an Indian engineering, procurement and construction (EPC) company. The company primarily focuses on power transmission and distribution business and integrated manufacturing facilities for lattice structures, conductors, and monopoles. It has a track record of four decades in providing comprehensive solutions in the power transmission and distribution sector, on a turnkey basis globally and have been a trusted and longstanding partner. It has completed many projects in power transmission and distribution vertical since its inception, along with comprehensive and extensive project execution capabilities in terms of manpower, supply of materials (including self-manufactured products) and availability of world class machinery, both in India and internationally (majorly across Asia and Africa).

Over a period of time, it has steadily invested into backward integration by adding manufacturing units for towers, conductors and poles to its business and have developed the ability to provide comprehensive solutions including designing, manufacturing, procuring, testing and supplying of conductors, towers etc. for its EPC projects and also towards direct supplies. Generally, these products and services cover a substantial part of the EPC value in a typical transmission line project, which reduces its dependency on third-party suppliers. 

The company caters to a wide client base in India including central public sector undertakings under the Ministry of Power of India, state government run and private power transmission and distribution companies. Further, it has actively diversified and expanded its business across the globe with its overall footprint of supply and service in 58 countries. It generally takes export orders which are either funded by multilateral funding agencies (which include organisations like World Bank, African Development Bank, Asian Development Bank etc) or backed by letters of credit.

Business area of the company

The company is an Indian engineering, procurement and construction (EPC) company. The company primarily focuses on power transmission and distribution business and integrated manufacturing facilities for lattice structures, conductors, and monopoles.

Awards, accreditations and recognitions

  • 2014: Awarded the best construction performance special award by Power Grid Corporation of India Limited.
  • 2014: Awarded the special category in construction for the year 2014-15 by Power Grid Corporation of India Limited.
  • 2015: Awarded the best safety performance for the year 2015-16 by Power Grid Corporation of India Limited.
  • 2015: Awarded the best construction performance (Division II Maximum Volume of Work) for the year 2015-16 by Power Grid Corporation of India Limited.
  • 2016: Received appreciation for best performance in excise contribution and for extra ordinary contribution in excise by Chief Commissioner of Customs Central Excise and Service Tax, Nagpur Zone.
  • 2016: Awarded the best performance safety award for pole and conductor plant by Silvassa Industries Association.
  • 2017: Awarded the third position for its contribution in safety implementation for the year 2017-18 by Adani Energy Solutions Limited (formerly known as Adani Transmission Limited).
  • 2019: Awarded with consolation certificate for excellent work in the field of Industrial Safety and Health by Labour Department, Directorate Industrial Safety and Health for its plant in Wardha, Maharashtra.
  • 2019: Received appreciation for completion of 500 kV Transmission line from Aqina – Sheberghan (88 kms) and 220 kV Transmission line from Sheberghan-Mazar-E-Sharif (156 km) under DABS 011/ICB project from Da Afghanistan Breshna Sherkat in Afghanistan.
  • 2024: Received appreciation for commissioning the power evacuation from Neemuch REZ 400Kv D/C and 765Kv D/C Khetri-Jhatikara line and the 400 kV D/C Khetri-Sikar (PG) line by Power Grid Corporation of India Limited.
  • 2024: Deoli facility of the company received an award for achieving ‘Lowest accident frequency rate and Longest accident free period’ in the heavy engineering industry group at the Maharashtra Safety Awards, 2023.

History and milestones

  • 2009: Established transmission tower testing facility in Deoli, Maharashtra.
  • 2011: Received a license for a factory engaged in the manufacture of fabrication and galvanising of transmission tower, high mast lighting poles, crash barriers and others at Silvassa, Dadra and Nagar Haveli.
  • 2012: Received a purchase order for manufacturing and supplying Derrick Structure Material and Fabrication and other fabrications.
  • 2016: Transfer of T&D business from Gammon India Limited to the company that included: (i) amalgamation of tower manufacturing facility in Vadodara, Gujarat and Deoli, Maharashtra established in 1994 and 2010, respectively; (ii) division of conductor factory in Silvassa, Dadra and Nagar Haveli established in 2008; and (iii) transmission tower testing facility in Deoli, Maharashtra established in 2009.
  • 2016: Received purchase order for supplies of Aluminium Conductor Steel Reinforced conductors and Aluminium Alloy Conductor Steel Reinforced conductors.
  • 2017: Received letter of acceptance for construction of three 220/132/33 kV substations on turnkey basis in Dharsiwa, Kawardha and Dherdehi, Chhattisgarh. It also received letter of acceptance for construction of 400 kV, 220kV and 132kV substations and transmission lines on total turnkey basis under an inter-State transmission system project in India, Green Energy Corridor Phase I in Shajapur and Mandsaur, Madhya Pradesh.
  • 2017: Received letter of award for construction of 220 KV D/C transmission line from 220 KV GSS Basni (Jodhpur) to 220 KV GSS NPH (Jodhpur) in Rajasthan, in existing row using 220 KV towers, 220 KV tubular monopoles, 220 KV underground cable.
  • 2018: Entered into a supply agreement with consortium of companies in Poland to supply galvanized and painted steel structures.
  • 2018: Entered into an agreement to manufacture luminary products including LED lighting fixtures, LED lighting installations, LED luminaries etc. under its trademark.
  • 2019: Received a letter of acceptance to design, supply, installation, testing and commissioning of 25 kV, 50 Hz, AC single phase railway electrification work between Katni (excluding)-Bara (including) in Katni-Singrauli section of west central railway.
  • 2019: Awarded with a tender by National Highway Authority of India to construct two lane bridge across river Kosi with approach road from Bheja to Bakaur section of NH-527A in Bihar under Backward Area / Religious / Tourist places scheme of Bharatmala Pariyojana Phase-I.
  • 2022: Awarded contract under the Power Project Suriname - HV Cables for construction of Electricity System Upgrade and Expansion Project, 110 kV underground cable.
  • 2022: Entered into two agreements to design, supply, installation, testing and commissioning of 400kV and 230kV River Crossing Transmission Lines on Turnkey Basis Lot-1 and Lot-2, both dated August 17, 2022, for a consideration of $304.97 million and USD 219.274 million, respectively.
  • 2023: Entered into a memorandum of understanding to develop the composite High Temperature Low Sag conductors cable market in India and in other countries, including Bhutan, Nepal, Bangladesh, Sri Lanka, Africa, Middle East, Iraq and other nations.

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