SYNOPSIS: Company completed greenfield expansion and partially completed brownfield projects, doubling tower manufacturing capacity to 1.72 lakh MTPA, strengthening execution capabilities and supporting future growth in the order pipeline.
During Tuesday’s trading session, shares of one of the leading Indian EPC companies with a focus on power T&D with integrated manufacturing facilities for lattice structures, conductors and monopoles, surged more than 5 percent on BSE, after expanding tower manufacturing capacity by 105 percent to 1.72 lakh MTPA.
With a market cap of Rs. 7,988 crores, shares of Transrail Lighting Limited are currently trading in the green at Rs. 595 on BSE, up by over 5 percent, compared to its previous closing price of Rs. 565.8. The stock has delivered positive returns of over 21 percent in the last one year, and has gained by around 22 percent in one month.
What’s the News
As per its latest disclosure in the stock exchanges, Transrail Lighting Limited announced the successful completion of its greenfield expansion at the tower manufacturing plant located at Butibori, where commercial production has now commenced.
In addition, the company reported partial completion of its brownfield expansion projects at its existing tower manufacturing facilities in Deoli, Baroda, and Silvassa, indicating ongoing capacity enhancement across multiple locations. Following these developments, the company’s total installed tower manufacturing capacity has more than doubled, increasing from 84,000 MTPA to 1,72,400 MTPA.
Previously, on 25th March, the company’s shares had declined by more than 7 percent after the Income Tax (IT) Department conducted search and seizure operations at its offices and factories starting 24th March 2026. The company had stated that it was fully cooperating with the authorities, while the stock witnessed heightened volatility following the development.
Subsequently, on 30th March, the company informed that the search and seizure proceedings were concluded on 28th March. It clarified that the proceedings had no impact on its operations and that business activities continued as normal.
Financials, Order Book & More
Transrail Lighting Limited is a prominent engineering, procurement, and construction (EPC) company, specialising in the integrated manufacturing of lattice structures, conductors, and monopoles. Its operations are organised across key verticals, including Power T&D, including transmission lines, substations, distribution networks, and underground cabling; civil construction, poles and lighting, railways and solar EPC.
As part of the Power T&D business, Transrail has large-scale manufacturing facilities in India for Galvanised Lattice Towers, Overhead Conductors and Galvanised Monopoles in addition to a well-accredited Tower testing facility.
For Q3 FY26, Transrail posted a consolidated revenue from operations of Rs. 1,796 crores, reflecting a sequential growth of around 15 percent QoQ compared to Rs. 1,561 crores in Q2 FY26. On a year-on-year basis, revenue grew by nearly 32 percent from Rs. 1,358 crores recorded in Q3 FY25.
Net profit for the quarter stood at Rs. 110 crore, indicating an increase of around 21 percent QoQ from Rs. 91 crores in Q2 FY26, and a significant rise on a year-on-year basis by about 18 percent from Rs. 93 crores reported in Q3 FY25.
During 9M FY26, the company reported a year-to-date order inflow of Rs. 5,135 crore, reflecting a growth of about 9 percent YoY. The inflows were primarily driven by the Power T&D segment, which accounted for nearly 89 percent of the total, followed by civil works (5 percent), railways (2 percent), and pole & lighting projects (4 percent). Geographically, domestic orders formed around 55 percent of the inflow, while international orders contributed the remaining 45 percent.
As of December 2025, the un-executed order book stood at Rs. 14,733 crore, marking a strong increase of around 28 percent YoY. Overall, the total un-executed order book, including letters of intent (LoI) worth Rs. 3,483 crore, stood at Rs. 18,216 crore as of 31st December 2025.
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