Submission of transcript of Investor Call held on 13th May, 2026
TEXRAIL · price
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Texmaco Rail reported Q4 FY '26 revenue of INR 1,167 crores (down 13.3% YoY) with EBITDA margin improving to 10% and PAT margin at 5% (up 206 bps). Full year FY '26 revenue was INR 4,377 crores with EBITDA margin of 10.2%. The company created a non-cash contingency provision of INR 700 crores against free reserves due to geopolitical uncertainties. Key positive developments include winning a major South Africa order (2,200 wagons + 30 locomotives + 15-year maintenance) worth over INR 4,000 crores, Bright Power division growing 66% to INR 610 crores, and net debt reducing to INR 444 crores with debt-to-equity at 0.18. Management unveiled Vision 2030 (Texmaco 2.0) targeting 2x revenue growth and mid-teen EBITDA margins through diversification into defense, wheels, real estate, and AI/GCC services.
The company is navigating cyclical wagon market weakness while building new growth engines. Major South Africa order and Vision 2030 strategy could drive significant growth in FY '27-28, but near-term revenue may remain under pressure as large Indian rail orders are yet to materialize.