ORIENTAL RAIL INFRA L

Manufactures and supplies railway coach interior components — primarily seats and berths — to Indian Railways coach factories. Recent orders include Rs. 5.26 crore from Modern Coach Factory (MCF), Raebareli for 78-seater LHB 2nd AC Chair Car seating, Rs. 3.36 crore from MCF for 50 sets of seat and berth for LWS(DDG) coaches, Rs. 1.62 crore from Integral Coach Factory (ICF), Chennai for 15 sets of Second AC Chair Car seats, and Rs. 3.95 crore from ICF for 31 sets of seats and berths with hardware for LWS PP coaches. Through its wholly-owned subsidiary Oriental Foundry Private Limited, it also participates in railway wagon manufacturing, including a joint bid with Hum Industrial Technology (USA) for an RDSO Smart Wagon tender for 346 Bearing & Wheel Health Monitoring Module units. Combined order book with the subsidiary stood at Rs. 1,739.80 crore as of FY26 results (~3.3x FY26 revenue of Rs. 573.35 crore). New growth lines include a 49%-owned JV (ABOR Projects LLP) for turnkey railway coach refurbishment, partnership with HUM International for smart wagon technology on 300-400 wagons, a collaboration with United Wagon for 25T high axle-load wagons, and entry into wagon leasing with regulatory approvals secured. The cost structure is dominated by materials at 78.6% of revenue, with employee costs at 6.1%, other opex at 8.0%, depreciation at 1.7%, and capex at 4.4% of revenue.