TRANSRAILL Q2 FY27 Guidance vs Delivery (TRANSRAILL Management Mirror)

Q2 FY27 Revenue Grows 31.7% to 2,056 Crore, Meeting the 20%+ Growth Guided in Jun'26 Qtr

In Sep'26 Qtr, Transrail reported Q2 FY27 revenue of 2,056 crore, growing 31.7% YoY, with EBITDA reaching 237 crore at an 11.5% margin. This exceeds the FY27 guidance initiated in Mar'26 Qtr for 20% to 22% revenue growth and ~11.0% margins, and reaffirmed in Jun'26 Qtr at 20% plus growth with 11% plus margins. For periods beyond Sep'26 Qtr, management expects revenue growth of at least 20% to 25% over the next three years, with a top-line potential of 12,000 crore by FY29. EBITDA margins are guided to remain in the 11% to 12% range, while PAT margins are expected to normalize between 5.5% and 6.0% as tax rates normalize to 25% to 26%.