Transrail Lighting Limited · NSE:TRANSRAILL
Transrail Lighting — Q2 & H1 FY2027 Earnings Presentation
34 slides from Transrail Lighting's earnings presentation, Nov 3, 2026
Slide 1: Stock exchange filing cover letter for earnings call presentation
November 3, 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 05
Slide 2: Investor Presentation Q2 & H1 FY 2027
Investor Presentation Q2 & H1 FY 2027 Building scale. Creating value. Expanding globally. Bangladesh River Crossing 400kV TL Tower height of over 120 MTR, Weight of 250 MT and Pile depth of 113 MTR
Slide 3: Disclaimer
Disclaimer This presentation has been prepared by Transrail Lighting Limited (the "Company") for general information purposes only. It does not constitute an offer, invitation or solicitation to subscribe for, purchase or deal in any securities of the Company in any jurisdiction, and no part of it s
Slide 4: India's Energy Transition is Creating a Multi-Decadal T&D Opportunity
India’s Energy Transition is Creating a Multi-Decadal T&D Opportunity T&D opportunity Planned expenditure of Renewable Energy Rising Power Demand Integration Rs. 9.15 lakh crore under the National Electricity Plan (NEP) including Growing urbanization, the Rs. 1.37 lakh crore of intra state lines und
Slide 5: Connecting the Grid: Transrail's Integrated Energy Solutions
Connecting the Grid: Transrail’s Integrated Energy Solutions Generation Transmission Substation Distribution End Users ▪ Proposed ▪ Construction of ▪ AIS/ GIS EPC upto ▪ Rural and urban ▪ Industrial investment in Transmission Lines electrification ▪ Commercial 990 MW Solar (66 kV – 1200 kV) 400kv ▪
Slide 6: Transrail: At a Glance
5 Transrail: At a Glance Proven Scale of Backed by Track Record Execution* Strong Financial Position CAGR (FY22-FY26) 3rd 2,37,700+ km Revenue EBITDA PAT ` Largest Power Services Company Conductors Supplied in India1 +31% +41% +59% 64 1.6 Mn MT Countries Footprint Towers Supplied As on 30th Sept 26
Slide 7: Proven Track Record of Delivering on Commitments
Proven Track Record of Delivering on Commitments Post Listing Revenue & Order book EBITDA & PAT Guidance since listing v/s performance Guidance v/s Performance Year Guidance Achieved Revenue (Rs. Cr) EBITDA (Rs. Cr) 6,880 10 00 Revenue Growth 5,308 676 820 4,077 80 0 3,152 60 0 478 FY25 30% 30% 2,35
Slide 8: Growth Journey Post Listing
Growth Journey Post Listing LISTING CAPEX EXECUTION WINS AWARDS Awarded with Most Admired Emerging Company in Power Sector by ET Now Tower Capacity Completed Seven 765 kV Dec’24 : Listing in Indian 800 kV HVDC lot more than doubled transmission line stock exchanges with in Khavda Nagpur Project to 1
Slide 9: Q2 & H1 FY27 Performance
01 01 765kV Koppal- Narendra Transmission line Q2 & H1 FY27 Performance 765kV Khetri-Narela Transmission line
Slide 10: Q2 & H1 FY27 Financial Performance
Q2 & H1 FY27 Financial Performance Achieved highest ever quarterly Revenue of Rs. 2,056 Cr Revenue EBITDA & Margin (%) PAT & Margin (%) Figures in Rs. Cr 11.9% 11.6% 5.9% 5.0% 32% YoY 28% YoY 12% YoY 2,056 Q2FY27 1,561 238 186 104 92 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 12.0% 11.6% 6.1% 5.5% 18
Slide 11: Q2 & H1 FY27 Operational Highlights
Q2 & H1 FY27 Operational Highlights Execution Milestone Order Book & Inflows Strategic Expansion Capacity Enhancement Awards & Recognition • 775 CKM Transmission • Order Intake for H1 FY27 GACTEL acquisition • Tower capacity expanded to • ET Edge “Best Lines constructed during stood at Rs.1,638 Cr 1
Slide 12: Completed Projects during H1FY27
Completed Projects during H1FY27 River Crossing 400 kV 167 TKM 400 kV 400kV Transmission line Cross-border Transmission Line Rail Electrification Transmission Line Successfully completed River Crossing Transmission Line project in Completed 18 km cross-border Rajasthan REZ-Bikaner 400 kV Bangladesh
Slide 13: Q2 & H1 FY27 Consolidated P&L Highlights
Q2 & H1 FY27 Consolidated P&L Highlights % Change % Change % Change Particulars (₹ Cr) Q2 FY27 Q2 FY26 Q1 FY27 H1 FY27 H1 FY26 YoY QoQ YoY Revenue from Operations 2,056 1,561 32% 1,736 18% 3,792 3,221 18% EBITDA 238 186 28% 203 17% 441 386 14% EBITDA margin (%) 11.6% 11.9% 11.7% 11.6% 12.0% Less: De
Slide 14: Strong Balance Sheet Position
Strong Balance Sheet Position Leverage and Net Debt Returns and Working Capital Key Updates Debt / Equity (x) ROCE (%) Credit Ratings Long Term 0.78 24.3 24.7 25.8 25.1 CRISIL & INDIA Ratings AA-/Stable 0.56 18.3 (INDIA Ratings upgraded in Aug-26) 0.34 0.29 0.31 Short Term CRISIL & INDIA Ratings A1+
Slide 15: Diversified Order Book with Healthy Execution Visibility
Diversified Order Book with Healthy Execution Visibility Order Inflow Un-Executed Order Book Domestic – 62% For H1 FY27 Domestic – 62% As at International - 38% International - 38% 30th Sept 2026 89% 93% Rs.1,638 Cr 1% Rs.14,218 Cr 8% 2% 4% 3% Power T&D Civil Poles & Lighting Power T&D Civil Railway
Slide 16: Company Overview
02 02 Company Overview 765kV Khetri-Narela Transmission line
Slide 17: Our Portfolio
Our Portfolio Power Transmission Civil Construction Railways Poles & Lighting Solar EPC & Distribution Manufacturing • Bridges • Overhead electrification • High masts / Flag masts • Grid scale solar farms • Towers, Conductors & Monopoles • Tunnels • Traction Substation • Street poles • Commercial an
Slide 18: Established Footprints across the Globe
Established Footprints across the Globe India 64 Americas, Europe & Australia • • 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 6 • AIS & GIS Substations constructed on turnkey ba
Slide 19: A Glimpse of Ongoing Projects
A Glimpse of Ongoing Projects Koppal-II PS – Narendra 765 kV D/C TaZa 400 kV D/C line, Tanzania 220 kV D/C Phyang-North Pullu T/L, Railway electrification work, line, Karnataka cross country project Ladakh High altitude project Chennai Division- Southern Railway 275 m tall Twin Flue RCC 690 kWp Sola
Slide 20: Seasoned Board with Decades of Infrastructure Experience
Seasoned Board with Decades of Infrastructure Experience DIGAMBAR BAGDE SANJAY KUMAR VERMA RANDEEP NARANG Executive Chairman Non-Executive Vice Chairman Managing Director & CEO Founder with 50+ years of Technocrat entrepreneur with 37+ years across Power T&D, Power T&D and EPC & 2 decades experience
Slide 21: Management Strength Backed by Decades of Experience
Management Strength Backed by Decades of Experience DIGAMBAR BAGDE RANDEEP NARANG Executive Chairman Managing Director & CEO 37+ years of experience across diversified sectors, including Power T&D 5 decades of Power T&D experience. Founded Transrail in 1984 and international operations and leads the
Slide 22: Manufacturing Capabilities
03 Manufacturing Capabilities Deoli Tower Factory Nagpur
Slide 23: Integrated Manufacturing Facilities
Integrated Manufacturing Facilities Manufacturing capabilities supporting captive consumption and select exports Certifications Tower Factory, Deoli Conductor Factory, Silvassa Poles Factory, Silvassa Tower Capacity 01 One of few players globally with fully integrated capabilities 184,400 MTPA 02 In
Slide 24: Capacity Expansion Supporting Future Growth
Capacity Expansion Supporting Future Growth Tower Capacity Expanded to 184,400 MTPA in H1FY27 Conductor Capacity Expanded to 40,800 KMPA in H1FY27 Tower Facility Conductor Facility 2.3x 2.1x Capacity expansion Capacity expansion Pre-IPO to FY27* Pre-IPO to FY27* Tower Manufacturing Capacity MTPA Con
Slide 25: In-House Engineering and Tower Testing
In-House Engineering and Tower Testing Design & Engineering Tower Testing & Quality In-house design, engineering and tower testing capabilities 22,000+ 590+ towers cumulative engineering Tested in-house towers upto 95 mtr and have man-months capabilities to test towers upto 1200 kV Design & Engineer
Slide 26: Industry Tailwinds & Growth Drivers
04 Industry Tailwinds & Growth Drivers 225kV Kambila Substation, Mali
Slide 27: India's transmission super-cycle & Transrail's position
India’s transmission super-cycle & Transrail’s position Rising Power Demand in India T&D Infrastructure Expansion Transrail’s Integrated T&D Capabilities T&D EPC IN THE COMING 6 YEARS India is set to add 26% new UHV transmission lines over the next 6 ▪ End- to end capabilities across transmission li
Slide 28: Global Power Market & Transrail's Positioning
Global Power Market & Transrail’s Positioning Global Power market trends Transrail’s positioning Global installed transmission length (mn km) Global grid investment (USD bn) 12.7 3053 ▪ Over two decades of experience in executing international projects. 7.2 1644 5.3 ▪ ~40% share of the UEO&B market.
Slide 29: Entering into Renewable Power Generation
Entering into Renewable Power Generation Illustrative image Proposed Investment Solar Portfolio Offtake & Funding Investment Rationale • Entry into renewable power generation: Participation in a large solar portfolio with a long-term contracted power offtake 49% ~990 MW 25-year PPA arrangement. Prop
Slide 30: Awards, ESG and CSR
05 Awards, ESG and CSR Udangudi Cooling Towers
Slide 31: Awards and Events
Awards and Events ET Edge Best Organisation to work Fortune 500 RoSPA Silver Award “Best Organisations to Work” 2026 Ranked 3rd largest power service company in India Cameroon TL project recognised for Health & Safety National Conference on Power Transmission Transrail Leadership Conclave 26 Middle
Slide 32: Striving for Global ESG Standards
Striving for Global ESG Standards Environment Social Governance Operating Levers Commitment to governance, Commitment to sustainability and Workplace culture, employee Rooftop solar at Silvassa and including compliance, corporate environmental impact, covering satisfaction and retention, Deoli Mfg.
Slide 33: Creating Sustainable Impact Through CSR Initiatives
Creating Sustainable Impact Through CSR Initiatives Healthcare Education Skill development Environment 7,196 10,409 260 4,350 Transrail Aarogya Transrail Saksharta Youth trained Saplings planted 4,996: free medical treatment 10,409 students supported 861 youth mobilised for training 1,487: dialysis
Slide 34: Thank You
400 kV cross border transmission line for MCA Nepal Thank You Investor Relations CORPORATE OFFICE A Wing, 5th Floor, Fortune 2000, BKC, Puneet Dammani | Manasi Bodas Vikash Verma| Abhishek Bhatt Bandra East, Mumbai – 400051 investor.relations@transraillighting.com Vikash.verma1@in.ey.com | abhishek.
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