Suppliers to Indian Railways and metro projects, tiered by how central rail actually is to the business.
Company is registered with Delhi Metro for electrification/automation and is actively dealing with Mumbai Metro rail work.
“He also got the Company registered with Delhi Metro for electrification and automation installation and now dealing with Mumbai Metro.”
Railways is an active business vertical with FY26 revenue of ₹158 crore (35% YoY growth), executing OHE for the Bullet Train project, S&T works, and three newly secured railway projects.
“Our Railways vertical supports the development of large-scale national transport infrastructure. We deliver integrated solutions across railway electrification, signalling, telecommunication, track linking, earthwork and other composite works”
“The business is structured around five core verticals: Power Transmission and Distribution, Civil Construction, Poles and Lighting, Railways, and Solar EPC.”
“Transrail's Railway business continued its growth momentum during FY 2025-26 with revenue of ` 158 crore.”
Railways is part of the same 13% consolidated revenue vertical, with the company manufacturing railway wheels, axles and wheel sets as listed products in its portfolio.
“Our Defence, Aerospace, and Railways vertical expanded to represent 13% of our consolidated revenue.”
“the Company strengthened its presence in higher-value end-user segments, particularly defence, railways and industrial applications, while its established commercial vehicle and off-highway equipment businesses continued to grow in absolute terms.”
Skipper manufactures railway electrification structures as part of its engineering product portfolio and undertakes railway EPC projects in India, though this is a secondary segment to its core T&D tower business.
“Skipper Limited has grown into a global leader in the engineering and infrastructure sector, specialising in the manufacture of transmission and distribution (T&D) structures, including towers and poles. Over the past four decades, the Company expanded its presence across multiple industries, including polymer pipes and fittings, railway electrification structures, telecom towers & poles and EPC projects.”
Through the Tech Innovation Group and Aurionpro Toshi Automatic, supplies AFC hardware and software plus ITMS to Indian metro projects (Delhi Metro, MMRDA Mumbai Line 4/4A ~INR 250 cr, Chennai Metro, Egypt public transport).
“Our front-to-back ability to offer end-to-end solution has made Aurionpro the best and most competitive player in the Automatic Fare Collection (AFC) market in India and a strong emerging player globally.”
Railway projects are an active operational vertical alongside the company's core roads/highways business, with a director specifically tasked with overseeing railway project execution.
“He would continue to be responsible for Roads and Railway Projects, starting from Project planning to optimum use of material, machineries and other resources, quality and safety assurance.”
Company has a dedicated railway cables product line (Signalling, Axle Counter, Railway Power Cables), RDSO approval, and a separate Railway Cables revenue segment contributing 3.8% of FY26 revenue.
“First to develop Axle Counter Cables for Indian Railways”
New non-automotive vertical supplying cast and machined components for tracks, wagons and carriages to Indian Railways, with supplies already commenced.
“The Company has created a new Non-Automotive business vertical to focus on– Railways and CNC Machines. Railways product portfolio would include manufacturing high-quality cast & machined components for Tracks, Wagons & Carriages utilizes the current surplus capacities. Supplies have already started.”
“Created a new Non-Auto business vertical to focus on – Railways, Manufacturing of CNC Machines”
Proflex division supplies self-supported steel roofing to railway applications among other segments, contributing ~22% of FY26 revenue.
“MBEL is the largest player in India by revenue in self-supported roofing solutions, with strong leadership in railway, industrial, and infrastructure applications.”
RPSL executed a traction substation for Indian Railways at Bikaner in FY26, evidencing supply of railway electrification infrastructure.
“Lalgarh Traction Substation for Indian Railways, Bikaner (Government)”
Supplies railway bridges, ROBs, FOBs and railway crash barriers; empanelled with Western Railways and holds RDSO approval, with heavy-engineering rail dispatches including a Chennai Metro girder.
“We entered heavy engineering with a ₹19 crore Chennai Metro order and dispatched our first rail-over-bridge girder from Matar in November.”
MIC earns current revenue from Indian Railways passenger-information displays and is developing additional railway systems and coach-electrification products.
“During the year under review, the Company earned revenue of `3292.75 Lakhs from Passenger Information System (PIS) displays of Indian Railways, `3325.27 from regular displays.”
“is a supplier to Indian Railways, airports, ports, sports stadia and other public-infrastructure agencies”
Scoda Tubes supplies stainless steel tubes/pipes to multiple Indian Railways entities (Modern Coach Factory, Chittaranjan Locomotive Works, Eastern/Northeastern Railways, Banaras Locomotive Works, Rail Coach Factory, Western and Central Railway), making railways a real but not core end-market.
“Started supplying products to key entities under Indian Railways: Modern Coach Factory & Chittaranjan Locomotive Works”
“the company has supplied its products to major domestic public sector clients such as Western, Central, Eastern and Northeastern Railway, Modern Coach Factory (MCF), Rail Coach Factory (RCF), Department of Atomic Energy, etc”
Railways forms a small but real adjacent revenue stream (~4.87% of order book, ~`193.35 million across 2 projects including Amrut Bharat railway works), serving as opportunistic work alongside its core water management business.
“The remaining 4.87% is distributed selectively across Railways (`193.35 million, 2 projects), Roads (`95.62 million, 10 projects), and Infrastructure (`65.62 million, 2 projects), which act as tactical, opportunistic adjacencies.”
“Our Company has selectively undertaken construction works in the railways sector, primarily under the Amrit Bharat Station Scheme and similar railway modernisation programmes. Engagements include station upgradation, civil works, platform extensions and ancillary infrastructure.”
The company reports current supplies of its products to Metro and Bullet Train projects, representing a rail-project end market rather than its principal business.
“Today, our products are supplied to several major infrastructure projects across India, including Bullet Train, Metro, industrial corridors, dams, bridges, and other critical infrastructure projects.”
“we are an approved supplier of various Government authorities like National Highway Authority in India (NHAI), National Thermal Power Corporation Limited (NTPC), Delhi Metro Rail Corporation Limited (DMRC), Public Works Department (PWD), Central Public Work Department (CPWD), Railways, large public and private sector industries etc.”
RPP has an EPC contract for roofing shed construction at a railway marshalling yard, supplying railway infrastructure as one of several ongoing project types.
“Engineering, Procurement and Construction of Roofing Shed to the Railway Lines in the Marshalling Yard at New Mangalore Port Authority, Mangalore for Rs.66.25 crores”
Railways is explicitly listed as one of the company's six business verticals alongside buildings, roads, water, irrigation and power, though no specific railway project or revenue detail is disclosed in this section.
“The Company has a well-diversified business portfolio spread across various business verticals viz., Buildings & Housing, Roads, Water & Environment, Irrigation, Power and Railways.”
Company executes EPC projects for Indian Railways as one of several sectors (alongside education, healthcare, housing, urban infrastructure), but it is not the primary business segment.
“Our portfolio encompasses education, healthcare, institutional buildings, housing, railways and urban infrastructure, giving us a balanced platform from which to pursue emerging opportunities while reducing our dependence on any single sector.”
The Power & Control Systems division supplies and services mechanical governors and actuators to Indian Railways along with other heavy industries, contributing Rs. 5,126 Lakhs in revenue in FY 2025-26.
“Demand for the supply and servicing of mechanical governors and actuators continues across heavy engineering industries, Indian railways, boiler plants etc.”
Composite Division in Pune supplies FRP and plastic components to OEMs of rail vehicles, driving revenue growth, and plans to diversify into supplying railway, bus and off-highway vehicle components.
“Strong engineering capability, consistent high-quality standards of products and fast response time has enabled the Company to be recognised as a preferred partner for supplying Fibre-Reinforced Plastics (FRP) and plastic components to Original Equipment Manufacturers (OEMs) of rail vehicles.”
The company states it is engaged in executing Railways & Metros infrastructure projects as part of its infrastructure project portfolio, alongside its core heavy fabrication sub-contracting work.
“is engaged in the execution of several Infrastructural Projects (Power /Mineral / Cement / Railways & Metros projects).”
The company holds an RDSO (Research Designs & Standards Organisation, Indian Railways) approval as an 'A Class Foundry' and is certified to IRIS-ISO 22163:2023, indicating it supplies castings/components to Indian Railways as a real business line alongside its primary auto components business.
“RDSO Approved for "A Class Foundry"”
“The Company will continue to evaluate opportunities to expand its product portfolio and customer base, particularly in the automotive, railway, defence and energy sectors.”
Valplast Technologies executes tunnel construction for Indian Railways, with a specific project for East Coast Railway doubling, as part of its broader tunneling and infrastructure portfolio.
“Construction of 6 Tunnels of Kottavalasa-Koraput Doubling of Waltair Division, East Coast Railway including earthwork excavation, rock bolting, shotcreting and design of blastless track.”
Listed railway wagons as one of its downstream manufactured products (alongside captive railway sidings for logistics), making it a supplier to Indian Railways.
“Expansion into CR coils & sheets, SBQ steel, stainless steel wires & bright bars, railway wagons, and battery foils enhances value addition, diversifies revenue streams and strengthens profitability.”
Holds a 51% stake in Ramkrishna Titagarh Rail Wheels Limited, a JV for rail wheels that has not yet started commercial production.
“The Company holds 51 % in Ramkrishna Titagarh Rail Wheels Limited.”
“M/s. RAMKRISHNA TITAGARH RAIL WHEELS LIMITED (A Joint Venture between Ramkrishna Forgings Limited and Titagarh Rail Systems Limited)”
“Sustained government investment in railway modernization, high-speed corridors, dedicated freight corridors, and metro projects drove demand for forged components such as wheels, axles, couplers, gears, and undercarriage parts.”
KRN has secured Indian Railways vendor approval and is launching Oil Cooling Units for locomotives/railways via its subsidiary, but railways is not yet a stated revenue driver.
“The recent green light as an approved vendor by the Ministry of Indian Railways is a testament to our quality and reliability, opening avenues in high-growth sectors such as railway electrification.”
“KRN Heat Exchanger and Refrigeration Limited is also expanding its manufacturing to cater to the growing needs of railways for their electric engines.”
KNRCL states it is strategically expanding into railways and metro projects, though no railway orders appear in the disclosed order book yet.
“the Company is strategically expanding its presence in mining, railways, and metro projects, supported by a robust order book of ` 86,725 Mn as of March 2026.”
“We would aim to add more business verticals to the organisation in the fields of construction of Elevated Metro Rail and Railway Projects.”
Subsidiary NIART Systems is developing SEE FAR, a radar + electro-optics railway obstacle-detection system for Indian Railways (RDSO TRI-NETRA); successful trials completed in Jan-2026 but NIART had not commenced commercial production during FY26.
“During Jan-2026, NIART achieved a significant milestone with the successful completion of functional testing trials of SEE FAR under the TRI-NETRA programme of the Research Designs and Standards Organisation (RDSO), Indian Railways.”
Railways is listed as part of the DAR diversification initiative but the text only confirms pilot programmes specifically for defence and aerospace customers, not railways.
“Our initiatives in defence, aerospace and railways are opening new avenues for growth”
Won a large ~Rs 540 crore SCADA-based distribution-automation project from Konkan Railway Corporation, opening the door to ADMS/DMS work for rail and Tier-2/3 cities; significant order book contribution though not a stated core vertical.
“During the year, the Company secured a large SCADA-based project from Konkan Railway Corporation valued at approximately Rs 540 crore (net of GST), won in competition with established EPC players marking the Company's entry into large-format, technology-led distribution automation projects beyond its traditional EPC scope.”
The company is actively exploring opportunities in the Railways sector as part of its diversification beyond automotive components, with no revenue yet disclosed.
“In addition to its core automotive component business, the Company is actively exploring opportunities in Industrial Components, Renewable Energy Equipment Components, Power Sector Components, Construction Tool Components and Railways.”
Company is pivoting from its shut ferro alloys manufacturing to railway logistics, having received In-Principle Approval from the Ministry of Railways to develop a General Cargo Terminal by upgrading its existing private railway siding at Shreeramnagar; members approved the diversification via Postal Ballot on 20 July 2026.
“The Company has also received In-Principle Approval from the Ministry of Railways for development of a General Cargo Terminal by upgrading its existing private railway siding.”
Company is exploring entry into development and manufacturing of electronic displays for Indian Railways and global railway industry, but currently has no revenue from this segment.
“the Company is making efforts to explore the possibilities of entering into development and manufacturing of electronic displays for use of Railways Industry across the Globe including Indian Railways.”
“To come out of the continued difficulties and cash flow issues the Company is exploring business opportunities concerning electronic displays and other electronics goods in Transport Sectors including Railways..”
The company has just initiated sales exploration into the Railways vertical with no existing revenue yet from this segment.
“We are officially initiating our sales exploration into the Railways vertical—a massive, heavily capitalized sector that demands the exact metallurgical precision, safety standards, and reliability that we specialize in.”
Railways is listed as one of the growing end-user industries for the company's CNC machines, with no specific products, orders or revenue disclosed.
“growing contributions from aerospace and defence, electronics manufacturing services (EMS), electric vehicles, railways, medical devices, general engineering, and dies and moulds”
Railways is mentioned only as one of several end-sectors served by E-beam cable capability, not as a principal or committed business line.
“Capabilities such as irradiated electron beam (E-beam) technology enhance the durability and thermal stability of cables built for demanding sectors like solar power, railways and, increasingly, electric mobility.”
Railway applications are listed as one of several non-automotive diversification areas, but no dedicated railway segment or revenue figures are disclosed.
“the Company continued to diversify its revenue streams through increased contribution from exports, aftermarket and non-automotive applications, including railways, snowmobiles, compressors, marine, defence and industrial engines.”
NSL identifies rail wagon manufacturers as a target customer segment for its hot rolled coil products, and lists railway structures and metro components as application areas.
“Target segments include automobile and rail wagon manufacturers, container manufacturers, LPG cylinder makers, API pipe and pressure vessel manufacturers, shipbuilders and construction and infrastructure companies.”
IFB mentions exploring land in West Bengal for a railways and engineering business, with no committed project or revenue.
“We are looking for land in West Bengal for railways and engineering business.”
Railways is listed as an industry the company serves, and capabilities were expanded into this sector during FY26, primarily through instrumentation and automation supply.
“During the year, we also expanded our capabilities into strategic sectors including Marine, Offshore, Defence, Railways, Nuclear, Renewable Energy, and Data Centers, reinforcing our position as a trusted engineering partner for mission-critical applications.”
Definition used: Supplies rolling stock, signalling, electrification, track work, wagons/coaches or components to Indian Railways, metros or rail projects. Membership is extracted from each company’s newest annual report; every quote is validated against the report page before publishing, and core/growing tiers are confirmed by a second independent read (marked ). Companies whose reports our corpus hasn’t read yet simply aren’t listed — absence means unread, not “no exposure”.
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