Transrail Lighting Wins New Orders Worth Rs 2,752 Crore
The construction engineering firm has good growth prospects in the coming quarters, says the CEO, citing robust order book, manufacturing capacities and promising tender pipeline.
Transrail Lighting Ltd. has received orders worth Rs 2,752 crore, primarily from the transmission and distribution segment, according to an exchange filing on Thursday.
"With these additions, our year-to-date order inflows have crossed Rs 7,400 crore," Chief Executive Officer Randeep Narang said. "This is a growth of around 90% from last year, further strengthening our position in the industry."
"Our order book continues to grow, driven by competitiveness, including our backward integration," Narang said.
The construction engineering firm has good growth prospects in the coming quarters, he added, citing robust order book, manufacturing capacities, execution capabilities and promising tender pipeline.
The company reported a 92% rise in net profit in the quarter ended December to Rs 93.2 crore from Rs 48.6 crore in the corresponding quarter of the last fiscal.
Revenue from operations rose 62% to Rs 1,357.6 crore, while earnings before interest, taxes, amortisation and depreciation also grew 80% to Rs 179.8 crore.
Shares of Transrail closed 2.98% lower at Rs 488.05 apiece on the National Stock Exchange, compared to a 0.01% decline in the benchmark Nifty. The share price has fallen 11.83% since listing and the relative strength index was at 39.28.
An analyst tracking the company maintains a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 53.7%.
