Transrail Lighting soars after securing new orders, plans entry into solar power generation
The new orders mainly comprise engineering, procurement and construction (EPC) projects for 765kV and 400kV domestic transmission lines, along with conductor supply orders for the US market. The company said it had announced orders worth more than Rs 2,300 crore over the preceding three weeks.
Managing director and CEO Randeep Narang said the order inflows reflected the company's growing scale and competitiveness in the power transmission and distribution sector. He highlighted its in-house tower and conductor manufacturing capabilities and its domestic presence alongside an expanding international business.
In a separate development, Transrail's board approved a proposed investment of up to Rs 20 crore to acquire a 49% equity stake in NOPL Pace Green Energy Private Limited, marking its entry into renewable power generation. The proposed acquisition is subject to requisite approvals, agreed conditions and the consent of the financial institution that sanctioned the project debt.
NOPL is developing a solar power portfolio of approximately 990 MW (AC) across Maharashtra under Component C of the Government of India's PM-KUSUM scheme. The project aims to support the solarisation of agricultural feeders and improve daytime electricity availability for irrigation.
The portfolio is backed by a 25-year power purchase agreement with Maharashtra State Electricity Distribution Company Limited (MSEDCL) at a fixed tariff of Rs 3.10 per unit. The indicative project cost is approximately Rs 3,900 crore, and project debt has been sanctioned, subject to applicable financing and disbursement conditions.
Although Transrail proposes to acquire an initial 49% stake, the arrangement is structured to provide it with financial and project management control. The agreement also allows for a potential increase in its shareholding to 100%, subject to mutually agreed terms and applicable approvals. The acquisition is expected to be completed within 180 days from approval by the target company's board.
NOPL has not yet commenced commercial operations and reported a loss before tax and a net loss of Rs 2.20 lakh for FY26, with revenue including other income of approximately Rs 10.47 lakh, according to the disclosed audited financial information.
Narang said the proposed investment would expand Transrail's presence beyond EPC into renewable power generation, allowing it to participate across the energy value chain. The company expects to use its engineering, procurement, project management and execution capabilities in the solar portfolio, with the potential for recurring earnings after commissioning.
Transrail Lighting is a turnkey EPC company with four decades of experience in power transmission and distribution, operating across more than 60 countries on six continents. Its businesses include transmission lines, substations, civil construction, railways, solar, and pole and lighting solutions. The company has large-scale Indian manufacturing facilities for galvanised lattice towers, overhead conductors, including HTLS, and galvanised monopoles, along with an accredited tower testing facility.
The company's consolidated net profit rose 1.95% to Rs 107.88 crore while net sales rose 3.99% to Rs 1702.45 crore in Q1 June 2026 over Q1 June 2025.
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