E To E Transportation Infrastructure Limited · NSE:E2ERAIL
E To E Transportation Infrastructure — FY2026 Earnings Presentation
38 slides from E To E Transportation Infrastructure's earnings presentation, May 21, 2026
Slide 1: Exchange filing cover letter for investor presentation
REF:E2ERAIL:STATUT:LODR:2026 May 21, 2026 To, National Stock Exchange of India Ltd. (“NSE Emerge”) Exchange Plaza, 5th floor, Plot No. C/1, G Block Bandra-Kurla Complex, Bandra (E). Mumbai 400 051 Attn: Listing Compliance Dept. Sub.: Investor Presentation Ref: NSE – E2ERAIL / ISIN - INE1CEJ01017 Dea
Slide 2: E To E Transportation Infrastructure Ltd. Investor Presentation
E To E Transportation Infrastructure Ltd. Investor Presentation Building India’s Railway Safety, Automation and Integrated Rail Systems Platform
Slide 3: Disclaimer
Disclaimer This presentation has been prepared by E To E Transportation Infrastructure Ltd. (the “Company”) for informational purposes only and does not constitute or form part of any offer, invitation or recommendation to purchase or subscribe to any securities of the Company, nor shall it form the
Slide 4: What is e2E Rail?
What is e2E Rail? India's Only Full-Stack Railway Safety & Intelligence Platform 3
Slide 5: Four Integrated Capabilities
Four Integrated Capabilities NOT NOVA — OEM Platform JUST A KAVACH 4.0 · Safety Critical Products RDSO CCA Approved (15 May 2026) SYSTEM System Integration for B2G & B2B INTEGRATOR. EI · CBTC · ETCS-L2 · CTC · OHE 65+ clients · 14 countries · 155+ projects A RAILWAY EDRC — Engineering Design INTELLI
Slide 6: Why This Capability Is Rare — The Moat No Competitor Has
Why This Capability Is Rare — The Moat No Competitor Has INDUSTRY — Works in Silos E2E RAIL — Full-Stack Platform Pure System Integrators End-to-End Value Chain ✕ ✓ No OEM IP. Margin-capped. Vendor-dependent. Design → Build → Execute → Maintain in one company. Product / OEM Companies OEM IP via NOVA
Slide 7: Company Overview
Company Overview
Slide 8: E To E Transportation at a Glance
E To E Transportation at a Glance Technology backed Railway Systems Integrator + OEM, Delivering Complex, Safety-critical Rail Solutions Integrated Rail Product Development Experienced Leadership Execution Track Scalable Operating Model Solutions Capabilities & Governance Record & Market Presence En
Slide 9: 16 Years of Growth Journey
16 Years of Growth Journey 2010 2013 2015 2018 2019 2021 2024 2025 2026 Incorporation of the Installation of Platform Received O&M order from Conversion of Company Listed on the NSE Emerge Company as Private Screen Door Order for Chennai Metro Railway from Private Limited to Platform Limited Company
Slide 10: Integrated Rail Systems Offerings
Integrated Rail Systems Offerings Core Offerings Signaling And Telecommunications Engineering Design And Research Center Overhead Electrification Composite (S&T) (EDRC) (OHE) Projects Full stack system integration using modern signalling • Advancing technical capabilities and supporting • Installati
Slide 11: End-to-End Value Chain: Design to Execution & Maintenance
End-to-End Value Chain: Design to Execution & Maintenance Skill Development & Delivery Readiness – Rail Village Strategy & System Conceptualization • Structured training ecosystem for rail engineers 08 01 • Rail system planning and architecture • Safety, signaling and system integration readiness •
Slide 12: Business Verticals & Moats
Business Verticals & Moats B2G B2B VERTICALS • Private Railway Sidings. BUSINESS • Direct Indian Railways, PSUs and Metros • 70+ highly experienced engineers • 300+ highly experienced engineers • Upgradation and Modernization • System Integration of S&T and Turnkey projects. • Composite Projects and
Slide 13: Markets Served · End-to-End Value Chain · Scale
Markets Served · End-to-End Value Chain · Scale 🚆 🚇 🏭 🌏 Mainline Metro Private International Railways Systems Sidings Markets EI · OHE · S&T CBTC · PSD · O&M EI · Telecom 14 countries Composite EPC ETCS L2 · S&T Steel · Industry SE Asia · GCC End-to-End Value Chain Engineering Procurement…
Slide 14: NOVA Control Tecnologix Private Limited
NOVA Control Tecnologix Private Limited. A wholly owned deep tech subsidiary of
Slide 15: A Major Milestone
A MAJOR MILESTONE What it is RDSO (CCA) approval for prototype testing granted to NOVA Control Tecnologix for KAVACH 4.0 development When 15 May 2026 — the most significant strategic milestone in E2E Rail's history What it unlocks NOVA is now eligible to develop prototype and apply for KAVACH field
Slide 16: NOVA — Technology Product Roadmap & Market Opportunity
NOVA — Technology Product Roadmap & Market Opportunity KAVACH Addressable Market: ~₹1.5–2.0 Lakh Crore over 10 years · 37,000+ route km · 15,000+ locomotives · 25–30% EBITDA potential KAVACH Approval Journey — Where NOVA Stands ✓ ✓ Field Trial Order→ → Prototype Commercial Orders (Eligible → for 20%
Slide 17: Development Snapshot — Where We Stand Today
Development Snapshot — Where We Stand Today For Acceptance Readiness ACCEPTANCE READINESS COMPLETION 75% complete · Target: 10 Jul 2026 Middleware Functional Acceptance Integration Test Test Ready CCA ✓ ✓ Jan 26 Feb 26 March 26 Apr 26 May 26 June 26 July 26 Aug 26 Sep 26 Oct 26 TODAY HARDWARE SOFTWA
Slide 18: Key Growth Drivers
Key Growth Drivers
Slide 19: Order Book & Pipeline
Order Book & Pipeline Order Book Movement ₹1,015 Cr Particulars Closing Order Book – 31 Mar 2026 Amount ₹508.01 Cr Current Order Book (incl.L1s) FY27 Orders Secured (Apr–May 2026) ₹344 Cr including GST Current Executable Book (excl. GST + L1s) ₹860 Cr ₹860 Cr excluding GST · 2.3x FY26 Revenue Curren
Slide 20: New Order Won Since IPO – Jan 2026
New Order Won from Since IPO – Jan 2026 Monthly Order Inflow (₹ Crore with GST) Jan – May 2026 200 180 180 160 14 140 119 120 ₹613 Cr Total Orders Won 100 93 80 60 45 40 January 26 – May 26 20 0 0 Jan Feb Mar Apr May ₹242.44 Cr 14 Orders | L1 + LOA L1s # Awarding Authority Nature of Work Value (₹ Cr
Slide 21: Pan India Execution Footprint for Marquee Clientele
Pan India Execution Footprint for Marquee Clientele 65 Clients Spread Over 14 Countries; From The Bustling Metropolises To The Remotest Regions, E2E Rail Has Consistently Demonstrated Its Capability To Execute Projects Of Varying Scales And Complexities With Unmatched Precision. 20
Slide 22: On Going Key Projects (B2G)
On Going Key Projects (B2G) SCR Makudi (56.96 Cr) RVNL (148.38 Cr) SR Arakkonam (45.68 Cr) EPC project with comprehensive Composite work including S&T, OHE, Provision of indoor and outdoor signaling signaling and telecommunication general electrical works, construction of arrangements at Arakkonam j
Slide 23: On Going Key Projects (B2B)
On Going Key Projects (B2B) 14 5 ₹234.96 Cr 7 Active Projects Industry Sectors Total Order Value Client Groups ⚡ POWER 2 ⚓ PORT 5 🏗 CEMENT 4 ⛏ MINES 3 🔩 STEEL 1 Total: ₹52.73 Cr Total: ₹90.77 Cr Total: ₹74.87 Cr Total: ₹16.43 Cr Total: ₹0.15 Cr #1 ₹37.73 Cr #1 ₹30.50 Cr #1 ₹17.00 Cr #1 ₹9.50 Cr…
Slide 24: Financial Highlights
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Slide 25: Key Metrics
Key Metrics ₹38.0 Cr FY26 Revenue EBITDA (10.0% margin) Adj. ₹39.5 Cr ₹380 Cr ₹16.8 Cr PAT (4.4% margin) +51.5% Year-on-Year Growth Adj. ₹17.9 Cr Revenue CAGR FY23–FY26 16.6% ~41% ROCE FY25 Revenue: ₹250.8 Cr FY24 Revenue: ₹173.7 Cr · FY23: ~₹106 Cr ₹205 Cr+ Net Worth NSE Emerge Listed | January 202
Slide 26: Results Highlights H2FY26
Results Highlights H2FY26 Total Income EBITDA PAT Rs. 268.99 Cr Rs. 39.26 Cr Rs. 24.11 Cr EBITDA PAT Total Income Rs. 379.99 Cr Rs. 37.99 Cr Rs. 16.80 Cr 30.06 % YoY 18.48 % YoY 51.50 % YoY FY26 Working Capital Days Order Inflow Closing Order Book (excl. L1 orders) 181 days Rs. 508.01 Cr Rs. 4
Slide 27: Financial Performance – FY26
Financial Performance – FY26 Revenue (Rs. Cr) EBITDA* (Rs. Cr) & Margin (%) PAT (Rs. Cr) Segmental Revenue Breakup (FY26) CAGR +41.31% CAGR +28.00% CAGR +30.40% 1% 379.99 17% 51.50% 103.71 3% 10.8% 11.4% 11.5% 10.07% 5.8% 5.7% 5.7% 4.4% 251 32.70% 38 88 170 18.48% 79% 29 135 45 274 17 41 14 19 163 1
Slide 28: Profit and Loss Statement
Profit and Loss Statement Particulars (Rs. Cr) H2FY26 H2FY25 Y-o-Y FY26 FY25 Y-o-Y Revenue from Operations 268.99 158.94 69.24% 379.99 250.81 51.50% Purchase of stock in trade 176.31 100.71 256.04 161.74 Changes in inventories of stock in trade 5.27 -1.26 -3.24 -1.26 Employee benefit expense 15.46 1
Slide 29: Balance Sheet
Balance Sheet ₹205.4 Cr ₹555.7 Cr ₹164.9 Cr ₹228.9 Cr ₹107.9 Cr Total Equity Total Assets Total Debt Trade Receivables Cash & Bank (Net Worth) (2x FY25) (WC-driven) (timing anomaly) Balances Equity & Liabilities (Rs. Cr) Mar-23 Mar-24 Mar-25 Mar-26 Assets (Rs. Cr) Mar-23 Mar-24 Mar-25 Mar-26 Shareho
Slide 30: Cashflow Statement
Cashflow Statement Particulars (Rs. Cr) Mar-23 Mar-24 Mar-25 Mar-26 Profit Before Tax 11 14 18 23 Adjustment for Non operating Items 4 6 11 16 Operating profit before working capital changes 15 20 30 38 Changes in working capital -14 -10 -34 -136 Cash generated from Operations 1 10 -4 -98 Less: Dire
Slide 31: Working Capital — Structural Context & Normalisation Path
Working Capital — Structural Context & Normalisation Path 🏛 -₹102.6 Cr 📅 48% ✅ ₹90 Cr+ FY26 Operating Cash Flow of FY26 revenue billed in March Already collected Q1 FY27 Timing anomaly — NOT structural ₹183 Cr in single month (vs 31% in FY25) Normalisation actively underway Timing Anomaly Path to…
Slide 32: Leadership
Leadership 31
Slide 33: Promoters and Board of Directors
Promoters and Board of Directors CORPORATE PROMOTERS - PRIVATE EQUITY INDIVIDUAL PROMOTERS: Ventureast Etoe LLP (“VEL”): Management: Mr. Vinay Rao and Mr. Sourajit Mukherjee Backed by the partners of VenturEast, a pioneering investment firm with a multi-decade legacy in technology and infrastructure
Slide 34: Leadership and Management
Leadership and Management Mr. Suresh Maddali Mrs. Srilakshmi Surendran Dr. Aman Jain Chief Financial Officer Company Secretary and Compliance Officer Chief Human Resource Officer Experience: 22 Years Experience: 14 Years Experience: 15 Years Qualification: Fellow Member of the Institute of Qualifica
Slide 35: Message from CEO
Message from CEO Dear Esteemed Stakeholders, FY26 has been one of the most defining years in the journey of E To E Transportation Infrastructure Limited. Beyond strong business growth, the year marked a strategic transformation of the organization into a technology-led railway systems platform with
Slide 36: Aligning ESG with Rail Safety Outcomes
Aligning ESG with Rail Safety Outcomes How core offerings drive safety, efficiency and infrastructure modernization The company’s core offerings align with rail KAVACH and automation systems directly safety enhancement, energy efficiency and reduce accident risk and improve network public infrastruc
Slide 37: CSR Activities
CSR Activities Building Skills, Supporting Communities, Creating Sustainable Impact Skill Development & Employment e2E Rail partnered with SGBS Unnati Foundation (UNNATI) to support structured skill development programs aimed at creating sustainable career pathways in the railway sector for CSR Expe
Slide 38: Thank You
Thank You For further information, please contact: Ms. Srilakshmi Surendran Company Secretary & Compliance Officer E TO E Transportation Infrastructure Limited Email: srilakshmi.surendran@etoerail.com Ankit Jain | Shruti Vasani Stellar IR Advisors Pvt. Ltd. Email: ankit@stellar-ir.com | shruti@stell
E To E Transportation Infrastructure — FY2026 Earnings Presentation on 6ix