Transrail Lighting expects to grab 8-10% of Power Grid contracts this year

Power Grid Corporation of India has announced a capital expenditure of ₹28,000 crore for the ongoing FY26, ₹35,000 crore for FY27 and ₹45,000 crore for FY28

Transrail Lighting, an EPC player in the transmission and distribution sector, expects to grab an 8-10 per cent market share in contracts by state-run transmission giant Power Grid Corporation this year, a top company official said.

Power Grid Corporation of India Limited (Powergrid), under the Ministry of Power, is India's largest power transmission utility. It has announced a capital expenditure of ₹28,000 crore for the ongoing FY26, ₹35,000 crore for FY27 and ₹45,000 crore for FY28.

"Our current market share is around 8 per cent to 10 per cent and this is what we intend to achieve this year with Power Grid which is a good number and it gives us a good base to execute in India," Transrail Lighting Managing Director and CEO Randeep Narang said.

On the company's order size, he said Transrail booked orders of ₹9,680 crore in FY25 which is 120 per cent growth year on year (YoY).

The company closed the year with a confirmed un-executed order book (UEOB) of ₹14,551 crore, and including the L1, it goes to ₹15,915 crore. The UEOB has also grown significantly by 44 per cent Y-o-Y, he said.

When asked about expected growth this fiscal, Narang said with a strong orderbook in hand at the start of the year and further orders booked in the FY26 already, "we have a clear revenue visibility for 24-30 months."  The company has grown at a CAGR of 22.59 per cent over the last four years and it is intended to continue growing in that range this year as well, he said.

Transrail is an EPC player in the transmission and distribution (T&D) segment, along with civil, railways, poles and lighting, having a footprint across 59 countries, Narang said.

India accounts for half of its business while the rest is contributed by geographies like Africa (Tanzania, Cameroon, Ethiopia, Kenya and others) and SAARC region, apart from a few countries in LAC (Latin America and the Caribbean). "We expect to continue growing in these regions," he said.

On guidance for the Bangladesh order book for FY26, Narang said the un-executed order book came down to 15 per cent in March and it was 12 per cent in May, as we forecast.

"By the year-end, it will be 5-6 per cent only. And we intend to finish the Bangladesh job by June of 2026. So, the work is happening as per plan. We don't intend to bid orders in Bangladesh as of now," he said.

There was a delay, of course, during the coup period in project execution. But then it stabilised post-December with the help of the government there, he added.