Transrail Lighting Aims to Exceed 25% Revenue Growth in FY26

Transrail Lighting Limited (TLL), a leading player in the lighting sector, is on track to exceed its 25% revenue growth target for FY26, with CEO Randeep Narang citing strong demand and execution momentum. The company expects revenue growth of 20–25%, driven by robust performance in the second half, while maintaining healthy EBITDA margins of 11.5–12%. The rise in net debt to ₹703 crore (from ₹613 crore) is attributed to capital spending on brownfield expansions and a new greenfield plant, with 80% of planned capex already completed. Further debt increase is expected to be marginal. Internationally, TLL is focusing on Africa, Southeast Asia, and SAARC markets, with minimal exposure to the U.S., insulating it from potential tariff impacts. Narang also clarified that TLL is not listed by the World Bank as an ineligible entity—a confusion arising from a separate company, TARIL. The company held an investor earnings call on November 12, 2025, sharing unaudited results for H1 FY26, reinforcing transparency. With strategic investments underway and expanding global reach, Transrail Lighting is positioning itself for sustained, profitable growth in India’s evolving infrastructure and lighting landscape.