Transrail Lighting Limited · NSE:TRANSRAILL
Transrail Lighting — Q3 FY26 Earnings Presentation
31 slides from Transrail Lighting's earnings presentation, Feb 2, 2026
Slide 1: Exchange filing cover letter for earnings call presentation
2nd February 2026 To To Sr. General Manager Sr. General Manager Department of Corporate Services Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G Dalal Street Bandra Kurla Complex Mumbai - 400001 Bandra (E), Mumbai - 400 0
Slide 2: Transrail Lighting Limited Investor Presentation Q3 & 9MFY26
TRANSRAIL LIGHTING LIMITED INVESTOR PRESENTATION Q3 & 9MFY26 1
Slide 3: Disclaimer
Disclaimer This presentation is issued by Transrail Lighting Limited (the “Company”) for general information purposes only and does not take into account any specific objectives, financial situations or needs of any particular person. It does not constitute, and should not be construed as, an offer,
Slide 4: Corporate Overview
Deoli Factory Corporate Overview
Slide 5: Transrail at a Glance
Transrail at a Glance Diversified Business Portfolio T&D Substation Civil Construction Railways Poles & Lighting Solar EPC Footprint across Supplied 4 Decades + 63 1.46 Mn+ of Expertise Countries MT of Towers Constructed Supplied 19,000+ 35,800+ 2,04,000+ Man Months of CKM Transmission Lines KM of C
Slide 6: Growth Journey
Growth Journey Order Book (₹ Cr.) as on Revenue (₹ Cr.) ▲ 28% ▲ 49% 14,551 14,733 5,308 5,017 11,499 4,077 9,619 10,100 3,152 3,362 5,908 2,350 FY22 FY23 FY24 FY25 9MFY25 9MFY26 FY22 FY23 FY24 FY25 9MFY25 9MFY26 EBITDA (₹ Cr.) PAT (₹ Cr.) ▲ 62% ▲ 40% 327 324* 676 614 233 478 438 200 294 108 206 65 F
Slide 7: Vision & Culture Pillars
Vision & Culture Pillars VISION To be a valued global EPC Company in the Power Transmission, Distribution, Lighting Solutions, Railways, Solar and other infrastructures. CULTURE We believe that all losses to People, Equipment, Materials and Environment (PEME) result from inadequate system designs, s
Slide 8: Global Footprint
Global Footprint India • Ongoing Projects: 50+ • Over 300 projects completed, working with all leading developers in India. • Turnkey EPC of Transmission lines of 765 kV, 800 kV HVDC constructed. • AIS & GIS Substations constructed on turnkey basis. • Rural electrification and underground cabling jo
Slide 9: Key Growth Drivers
Key Growth Drivers Strong and Consistent Financial Track record of established presence and growth Performance in power transmission and distribution vertical through implementation and execution skills Experienced promoter(s) with strong Fully Backward integrated management team, technical manufact
Slide 10: Legacy of 4 Decades
Legacy of 4 Decades 1984 1993 2007 Transrail Engineering 1987 Factory for Tower Factory of conductor 2008 Company (TEC) started First Direct 400 kV manufacturing in First International manufacturing with first foundation transmission Line Baroda Turnkey project established in Silvassa. work on 132kV
Slide 11: Board of Directors
Board of Directors Digambar Bagde Sanjay Kumar Verma Randeep Narang Executive Chairman Non-Executive Vice Chairman Managing Director & CEO Raman Rajagopalan D Suryanarayana Shrikant Chaturvedi I. S. Jha Deputy Managing Director Whole-time Director Non-Executive Director Non-Executive Director Ranjit
Slide 12: Leadership
Leadership DIGAMBAR BAGDE Executive Chairman He is the Promoter of our Company and a stalwart of the Power T&D industry, with five decades of rich and diverse experience. He holds a Bachelor of Science degree in Civil Engineering from the Maharaja Sayajirao University of Baroda. After his initial de
Slide 13: Business Overview
Tower Testing Facility, Deoli Business Overview 12
Slide 14: Diversified Business Portfolio
Diversified Business Portfolio Power Transmission & Distribution Civil Construction Poles & Lighting Capabilities Capabilities • High masts / Flag masts • Bridges • Street poles • Tunnels • Luminaries • Elevated roads • Stadium lighting • Derrick structures • Cooling towers • Railway Portals • Road
Slide 15: Q3 & 9MFY26 Consolidated Key Financial Highlights
Q3 & 9MFY26 Consolidated Key Financial Highlights REVENUE from Operations (₹ cr.) EBITDA (₹ cr.) and EBITDA Margins (%) PAT (₹ cr.) and PAT Margins (%) ▲ 32% YoY ▲ 27% YoY ▲ 36% YoY 250.00 228 80.00% 135 127 * 25.00% 70.00% 1,796 180 186 115 Quarterly 200.00 1,561 60.00% 93 91 20.00% 1,358 150.00 50
Slide 16: Business Highlights 9MFY26
Business Highlights 9MFY26 Operational Highlights Domestic Projects Commissioned ✓ Brownfield expansion of tower manufacturing at an advanced stage ✓ 765 kV D/C TL project in Khetri Narela for Powergrid, Package 2 and 3. ✓ SAP RISE upgradation from SAP HANA rolled out across operations ✓ 765kV D/C T
Slide 17: 9MFY26 Order Inflow and Un-executed Orderbook
9MFY26 Order Inflow and Un-executed Orderbook Order `Inflow Un-executed` Order Book 4% Domestic - 55% Domestic - 57% 2% 2% 1% International - 45% International - 43% 5% 5% ₹ 5,135 cr. ₹ 14,733 cr. YTD Order Intake as on Dec’25 (YoY 9%) (YoY 28%) 89% 92% Power T&D Civil Railways Pole & Lighting Power
Slide 18: Industry Overview
Industry Overview Industry Enablers and Opportunities Transmission line addition Energy Transition Accelerating Grid Investments Currently 500,000 ckm and is expected to cross 648,00 ckm by 2032 Renewables, EVs, and storage driving large-scale grid expansion Energy Transition Push: Electrification S
Slide 19: Manufacturing Units & Tower Testing facility
Manufacturing Units & Tower Testing facility Tower Factory - Deoli Tower Factory - Vadodara Conductor Factory - Silvassa Pole Factory - Silvassa Tower Testing Facility European NSCI Certificate of Deoli Tower Plant ISO certified NABL Certified conformity ‘A Grade’ – Merit 2025 – certified Deoli Plan
Slide 20: Update on CAPEX
Update on CAPEX CAPEX utilized for: Capacity: Post CAPEX (Phase 1 Product Pre - CAPEX + Phase 2) Brownfield Expansion of existing manufacturing plants (Tower, Conductor and Towers 84,000 MT PA 1,96,000 MT PA 1 Pole) Conductor 24,000 KM 49,500 KM Timelines: New Plant for tower manufacturing Product P
Slide 21: Progress on Factory Expansion
Progress on Factory Expansion Brownfield expansion of Tower Factory at Deoli Brownfield expansion of Tower Factory at Vadodara 20 20
Slide 22: Glimpse of Completed Projects (9M FY26)
Glimpse of Completed Projects (9M FY26) Ahmedabad- Lakadia 765kV 400kV D/C Rooppur-Gopalganj Hazipur Chapra Monopole Khetri Narela 765 kV OHE Project completed for RNVL Transmission Line Project (Completed 3 Lines) 21
Slide 23: Glimpse of On-going Projects
Glimpse of On-going Projects 225KV D/C Garoua-Maroua TL 400 kV D/C Transmission Line TaZa Project River crossing Transmission Line (Cameroon) (Tanzania) Project (Bangladesh) 765KV D/C Merta II - Barmer Supply of electric masts for bullet train 10.2 km long Road Bridge over river Koppal-II PS – Naren
Slide 24: Business Overview
Wardha Aurangabad Transmission Line Business Overview 23
Slide 25: Results Summary Q3 & 9MFY26 - Consolidated
Results Summary Q3 & 9MFY26 - Consolidated % Change % Change Particulars (₹ Cr.) Q3 FY26 Q3 FY25 9MFY26 9MFY25 YoY YoY Revenue from Operations 1,796 1,358 32% 5,017 3,362 49% EBITDA 228 180 27% 614 438 40% EBITDA Margin 12.7% 13.2% 12.2% 13.0% Depreciation & amortisation 17 14 22% 47 40 16% Other in
Slide 26: Strong and Consistent Financial Performance
Strong and Consistent Financial Performance Debt to Equity (x) Net Debt (₹ Cr.) & Net Debt to EBITDA (x) 2.00 1.63 1.12 0.74 0.57 600.00 - 500.00 533 502 0.71 0.78 (5 .00) 480 463 400.00 0.56 412 (1 0.00) 300.00 0.34 0.39 200.00 (1 5.00) 100.00 (2 0.00) 0.00 FY22 FY23 FY24 FY25 9MFY26 FY22 FY23 FY24
Slide 27: Borrowing, Working Capital & Credit Rating
Borrowing, Working Capital & Credit Rating Particulars (in ₹ Cr) 31-12-2025 31-09-2025 Inc/(Dec) 31-03-2025 Inc/(Dec) LT Borrowings 91.00 67.46 23.54 38.53 52.47 Borrowings ST Borrowings* 751.79 722.55 29.24 604.93 146.86 Less: Cash and cash equivalents 379.87 87.04 292.83 141.45 238.42 Net Debt (ex
Slide 28: Achievements
Achievements Mr. Ghanshyam Prasad, Chairperson, Transrail Ranked at 441 CEA along with Mr. R K Tyagi, CMD, PGCIL by Fortune India 500 large companies of felicitating our MD & CEO for Narela-Khetri 2025 Projects 27
Slide 29: Striving for Global ESG standards
Striving for Global ESG standards Transrail integrates sustainability into its way of Environment life by minimizing environmental impact, driving • Focus on reducing environmental impact through efficient use, recycling, and reuse of positive social change, and maintaining strong resources corporat
Slide 30: Transrail's CSR Activities for 9MFY26
Transrail’s CSR Activities for 9MFY26 We firmly believe in giving back to society and we are actively contributing to the well-being of the communities we serve through two flagship programs of a CSR initiative called “Transrail Aarogya” and “Transrail Saksharta”. Healthcare Education • 3,186 catara
Slide 31: Thank You
Thank You Corporate Office Transrail Lighting Limited A Wing, 5th Floor, Fortune 2000, BKC, Bandra East, Mumbai – 400051, India Investor Relations: Chintan Sudhir Kotak Email: investor.relations@transraillighting.com Website: www.transrail.in CIN: L31506MH2008PLC179012 NSE : TRANSRAILL BSE : 544317