Texmaco Rail & Engineering Ltd.

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texmaco.inBSE: 533326NSE: TEXRAIL

Market Cap₹ 4,689 Cr.

Current Price

High / Low₹ 153 / 78

Stock P/E22.2

Book Value₹ 59

Price to Book1.38

Dividend Yield0.65 %

ROCE11.9 %

ROE7.5 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Freight Car Division: 78.1% • Infra Electrical: 13.9% • Infra Rail & Green Energy: 8.0%

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

View full sector analysis →

PROS

Company has delivered good profit growth of 73.6% CAGR over last 5 years
Latest quarter profit grew 119.8% YoY, showing strong momentum
Company has delivered good sales growth of 21.0% CAGR over last 5 years
Working capital cycle has improved - days down from 156 to 119
Stock looks reasonably valued - P/E of 22.2 is below its historical median
Attractively priced for its growth - PEG of 0.2

CONS

Company has a low return on equity of 6.7% over last 3 years
Company has a low return on capital employed of 11.6%
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.59x)
Equity base is being diluted - shares outstanding up 26.4%
Contingent liabilities are large at 55.2% of net worth

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsAutomobile & AncillariesRailways Wagons/Coaches

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	TITAGARH	876.95	61.68	11810.22	0.11	52.58	69.94	765.07	12.63	9.08	12.33
2.	JWL	240.95	61.80	10297.49	0.41	26.19	-15.73	670.74	46.02	8.79	9.79
3.	TEXRAIL	115.25	21.79	4689.11	0.65	50.07	70.69	756.68	-16.90	11.60	8.11

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	657	805	896	1,145	892	1,116	1,086	1,140	807	1,257	1,041	1,164	753
	636	730	814	1,061	821	1,024	995	1,077	749	1,132	950	1,060	734
Operating Profit	21	75	83	84	71	93	91	63	57	125	91	104	19
OPM %	3.22%	9.28%	9.23%	7.30%	7.92%	8.30%	8.41%	5.55%	7.11%	9.94%	8.71%	8.92%	2.56%
	39	8	12	25	26	19	12	40	16	12	12	13	25
Interest	35	37	34	28	24	32	33	33	30	30	31	30	25
Depreciation	9	9	9	9	8	9	9	9	9	11	11	13	12
Profit before Tax	17	38	52	72	65	70	61	62	35	96	59	73	44
Tax %	12.60%	42.35%	43.80%	34.75%	37.71%	31.05%	23.37%	41.63%	32.82%	35.64%	34.97%	20.02%	-17.15%
Net Profit	15	22	29	47	40	48	47	36	24	62	39	59	52
	0.45	0.68	0.89	1.37	1.01	1.21	1.18	0.91	0.59	1.55	0.96	1.45	1.27

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	1,154	1,135	1,858	1,832	1,689	1,622	2,243	3,503	4,234	4,371	4,214
	1,096	1,075	1,707	1,706	1,660	1,552	2,130	3,266	3,916	3,981	3,876
Operating Profit	58	60	151	126	28	70	113	237	318	391	339
OPM %	5.06%	5.33%	8.14%	6.89%	1.68%	4.29%	5.04%	6.77%	7.51%	8.94%	8.04%
	47	51	37	-92	123	99	67	109	97	48	61
Interest	48	61	71	97	103	100	116	133	122	122	116
Depreciation	16	25	29	36	37	36	35	35	34	46	47
Profit before Tax	42	26	88	-99	12	32	29	179	259	271	273
Tax %	20.09%	47.61%	14.66%	33.30%	-2.34%	43.57%	30.92%	36.94%	33.44%	31.00%	22.76%
Net Profit	34	13	75	-66	12	18	20	113	172	187	211
EPS	0.00	0.00	0.00	0.00	0.52	0.67	0.62	2.82	4.31	4.60	—
Dividend Payout %	16.34%	41.06%	10.23%	-3.42%	21.10%	17.59%	24.34%	17.72%	17.41%	16.32%	—

COMPOUNDED SALES GROWTH

10 Years:: 15%
5 Years:: 21%
3 Years:: 25%

COMPOUNDED PROFIT GROWTH

10 Years:: 21%
5 Years:: 74%
3 Years:: 111%

STOCK PRICE CAGR

10 Years:: 2%
5 Years:: 31%
3 Years:: -10%
1 Year:: -17%

RETURN ON EQUITY

10 Years:: 3%
5 Years:: 5%
3 Years:: 7%
Last Year:: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	22	22	22	22	25	32	32	40	40	41
	1,011	1,036	1,106	994	1,103	1,283	1,313	2,446	2,594	2,289
	319	515	793	928	899	808	1,019	629	826	612
Trade Payables	244	329	556	554	430	311	568	676	582	597
	190	311	186	306	103	159	348	328	356	1,257
Total Liabilities	1,787	2,214	2,663	2,804	2,559	2,593	3,281	4,118	4,399	4,796
	245	344	365	378	348	332	339	372	423	914
Capital Work in Progress	2	5	10	4	4	2	9	21	30	30
	503	253	143	100	128	71	92	408	837	368
	227	291	450	537	309	361	676	724	652	866
	0	0	0	0	0	0	0	882	1,146	1,244
Cash & Bank	42	34	47	83	105	172	153	407	188	195
	768	1,286	1,649	1,703	1,665	1,654	2,011	1,304	1,123	1,179
Total Assets	1,787	2,214	2,663	2,804	2,559	2,593	3,281	4,118	4,399	4,796

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-11	-195	-21	208	50	45	-101	93	64	123
Cash from Investing	63	163	44	-93	-25	24	-76	-630	-184	76
Cash from Financing	-52	51	-6	60	-11	-12	154	533	129	-177
	-11	6	-7	8	4	35	-28	-4	8	18

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	48.14	48.14	48.14	48.26	48.26	48.26	48.34	48.34	48.34
	9.09	7.87	8.09	8.14	8.14	7.03	7.07	7.22	5.01
	8.93	8.70	8.48	7.89	7.36	7.19	6.23	5.77	5.11
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	33.83	35.29	35.28	35.71	36.25	37.51	38.36	38.66	41.54

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-10

Bagging/Receiving of orders/contracts

2026-09-10 - Texmaco Rail & Engineering Limited has informed the Exchange about receipt of Order worth Rs. 27.82 Crores (incl. taxes) from Hindalco Industries Limited

2026-09-06

Options to purchase securities

2026-09-06 - Texmaco Rail & Engineering Limited has informed the Exchange about Options to purchase securities

2026-09-06

General Updates

2026-09-06 - Texmaco Rail & Engineering Limited has informed the Exchange about General Updates

2026-09-05

Bagging/Receiving of orders/contracts

2026-09-05 - Texmaco Rail & Engineering Limited has informed the Exchange about receipt of Orders worth Rs. 131.36 Crores in aggregate (incl. taxes) from Transport Corporation of India Limited and Touax Texmaco Railcar Leasing Private Limited

2026-09-01

Bagging/Receiving of orders/contracts

2026-09-01 - Texmaco Rail & Engineering Limited has informed the Exchange about receipt of order worth Rs. 24.48 Crores (incl. taxes) from Transport Corporation of India Limited

2026-09-01

Bagging/Receiving of orders/contracts

2026-09-01 - Texmaco Rail & Engineering Limited has informed the Exchange about receipt of Letter of Award worth USD 135 Million from Tsiko Africa Logistics (Pty) Ltd. together with Barberry Holdings (Pty) Ltd.

2026-08-31

Resignation of Director/KMP/SMP

2026-08-31 - Texmaco Rail & Engineering Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-31

Resignation

2026-08-31 - Texmaco Rail & Engineering Limited has informed the Exchange regarding Resignation of Mr. Kishor Kumar Rajgaria as Chief Financial Officer of the company w.e.f. August 31, 2026.

2026-08-27

Memorandum of Understanding/Agreements

2026-08-27 - Texmaco Rail & Engineering Limited has informed the Exchange about Memorandum of Understanding with Bochumer Verein Verkehrstechnik GmBH

News

Recent coverage and analyst commentary for TEXRAIL

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