Mumbai-based power transmission-focused engineering, procurement and construction (EPC) company Transrail Lighting is preparing for a potential ₹600-crore qualified institutional placement (QIP) as it looks to scale its domestic and international operations, a top company official told businessline.
The fundraising plan comes as Transrail targets 20–22 per cent revenue growth in FY27, requiring a sharp acceleration from the 5 per cent year-on-year growth recorded in the June quarter. Based on its full-year guidance, revenue will need to grow roughly 25–28 per cent over the remaining nine months, making execution of its ₹16,035-crore order book central to the growth plan.
In its core business, the Tower manufacturing capacity has more than doubled from 84,000 tonnes per annum to 172,400 tonnes and is targeted to reach 196,000 tonnes during FY27. Conductor capacity has risen 70 per cent to 40,800 km per annum and is expected to reach 49,500 km by FY27-end.
The company is also targeting ₹10,000–11,000 crore of fresh orders, expanding tower and conductor manufacturing capacity and pursuing adjacent EPC opportunities in data centres and battery energy-storage systems (BESS), other company officials indicated
The board has also approved ₹203 crore of additional capex, including about ₹169 crore for construction equipment.
FROM 5% TO 20–22%
Transrail reported Q1 FY27 revenue of ₹1,736 crore, up 5 per cent from ₹1,660 crore a year earlier. EBITDA stood at ₹203 crore, with a margin of 11.7 per cent, while profit after tax increased about 3 per cent to ₹108 crore.
Its FY27 guidance implies revenue of roughly ₹8,256–8,394 crore, up from ₹6,880 crore in FY26. With ₹1,736 crore booked in Q1, Transrail needs ₹6,520–6,658 crore over the remaining three quarters, compared with about ₹5,220 crore in the corresponding period last year.
That follows a strong FY26, when revenue grew 30 per cent to ₹6,880 crore, EBITDA increased 21 per cent to ₹820 crore and operational PAT rose 28 per cent to ₹421 crore.
₹16,035 CRORE TO EXECUTE
Transrail’s unexecuted order book, including L1 orders, stood at ₹16,035 crore at June-end, comprising ₹15,635 crore of confirmed orders and about ₹400 crore of L1 orders. The backlog was 59 per cent domestic and 41 per cent international.
Randeep Narang, Managing Director and Chief Executive Officer of Transrail Lighting, has said the company’s core power transmission and distribution business continues to benefit from investment in grid infrastructure in India and overseas, with its integrated engineering, manufacturing and execution capabilities positioning it to pursue those opportunities.
The company secured ₹1,034 crore of fresh orders during Q1 and has bids worth more than ₹20,000 crore under consideration. For FY27, it is targeting ₹10,000–11,000 crore of fresh orders.
FROM INDIA TO GLOBAL GRIDS
International markets provide another growth avenue as Africa and South Asia invest in grid connectivity, while the energy transition drives transmission investment in developed markets.
Transrail, which operates across six continents, is targeting these opportunities through EPC projects and engineered products including towers, conductors and monopoles.
BEYOND POWER TRANSMISSION
Transrail is hiring specialists and building teams to pursue data-centre and BESS opportunities. It expects its experience in GIS substations and cooling-related solutions to provide an entry into data-centre infrastructure, while its transmission and solar EPC capabilities could be leveraged for battery-storage projects, senior company officials indicated