Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 3 Oct - Texmaco Rail received a Rs. 3.65 crore LOA from West Central Railway, executable within 12 months.
Source: Bse
Texmaco Rail & Engineering Limited (TEXRAIL)
Micro CapIndustrials stocks · Micro cap · NSE
Texmaco Rail & Engineering is an Indian manufacturer of freight cars, railway signaling, electrification, and transmission infrastructure. It also has interests in rail infrastructure, electrical infrastructure (Bright Power), and joint ventures in wagon leasing, air brake equipment, and passenger rolling stock interiors.
₹109.27
-3.98 · -3.51%
Market cap ₹4,758 Cr
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals14 Oct 2026 · screener
Latest result03 Aug, 10:05 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
49NeutralSMA20 +5.2% / mo · MACD −
Stock trend: 48
Sector RS: 50
Sector 3M: -6.3% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
TEXRAILD candles · FIT view+6.8%Latest close ₹109.27 on 2026-10-19
Bar
-3.3%
RSI
43
MACD hist
-1.17
52W pos
48%
2026-10-19O ₹112.99H ₹113.46L ₹108.45C ₹109.27Vol 12.9L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
TEXRAILNifty India ManufacturingNifty 500
- TEXRAIL
- -4.9%
- Nifty 500
- -5.6%
- Nifty India Manufacturing
- -5.8%
- Vs Nifty 500
- +0.7 pp
Chart stats
19 Oct 2026- From 52W high
- -23.6%
- 52W range position
- 48%
- ATR (14)
- 5.1%
- Volume vs 20D
- 0.33x
- Avg traded value
- ₹47.4 Cr
- 20D price channel
- ₹105.1 - ₹135.4
₹143
₹78.1 - ₹143
₹5.6
Latest completed session
20-session average
58.4% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is weak.
Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · FAIR VALUE51
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad17
Revenue -16.9% · PAT +72.4% YoY
Technical
Neutral49
Price trend and sector-relative-strength timing.
Valuation
Legacy model+47.7%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence68
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 17/100Rev -17% YoY · margin compression · PAT +72% YoY · operating leverage
Filed 03 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹757 Cr | -16.9% | -35.1% |
| EBITDA | ₹57 Cr | -19.7% | -46.2% |
| Operating margin | 8.0% | +0 bps | -100 bps |
| PAT | ₹50 Cr | +72.4% | -13.8% |
| PAT margin | 6.6% | +343 bps | +164 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 21.90
- P/B
- 2.00
- EV/EBITDA
- 13.30
- Market Cap
- 4758.00Cr
Profitability
- ROE
- 7.30%
- ROCE
- 11.20%
- ROA
- 4.23%
- Dividend Y
- 0.67%
Growth (CAGR)
- Revenue 5Y
- 21.00%
- EPS 5Y
- 68.00%
- Revenue 3Y
- 25.00%
- EPS 3Y
- 94.00%
Balance Sheet
- Debt/Equity
- 0.38
- Interest Coverage
- 3.21×
- Altman Z
- 2.96
- Book Value
- 58.40
Cash Flow
- FCF Yield
- 2.84%
- FCF Positive Y
- 5/5
- OCF
- 363.00 Cr
- EPS TTM
- 5.32
Shareholding
- Promoter Hold
- 48.34%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 60%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 4,377-14.3% vs prev
Net Profit
₹ CrLatest: 194-22.1% vs prev
Return on Equity
%Latest: 8.2-8.2% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 43. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 rising (~5.0% over last month) — short-term momentum positive.
- RSI(14) at 43 — sideways, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 24% off 52W high · 40% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
48
RS percentile
Stage 1 Base / Transition
1M return
-4.7%
3M return
-4.9%
6M return
+2.8%
1Y return
-19.2%
RS 1D
-4
RS 20D
-5
Sector rank
#2
Industry rank
#15
Stage evidence
- Price is within 0.7% of the 30-week proxy.
- The 30-week proxy changed +2.4% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price below
Sector
leading
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 81.2-2.51%
RS vs Nifty 50081
Valuation & peers
U-Score 51 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 51 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Financial Turnaround
Fundamental score breakdown
U band · FAIR VALUEValuation11/30
Growth22/25
Quality0/20
Balance Sheet7/15
Cash Flow6/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
51
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
51/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 47.7%.
- Growth contributes 22/25 to the score.
Main drags
- Quality is weaker at 0/20; verify the latest quarterly trend.
- Valuation is weaker at 11/30; verify the latest quarterly trend.
- Balance sheet is weaker at 7/15; verify the latest quarterly trend.
Sector valuation model
Execution business valuation: EV/EBITDA plus order and working-capital risk
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
Primary lens
EV/EBITDA and PE against execution quality and margin stability.
Secondary checks
Order book, receivables, working capital, debt, operating cash flow.
Main risk check
Order wins matter only if they convert into cash and margins.
PE
21.9
PB
2.0
EV/EBITDA
13.3
ROE
7.3%
ROCE
11.2%
FCF Yield
2.8%
Debt/Equity
0.4
MoS
+47.7%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
51
Previous: 51
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+47.7%
Previous: +47.7%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
51
51
51
51
51
51
51
51
51
51
51
51
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹83.61
-30.7% MoS
Growth-justified P/E
39.3
Growth-justified Value
₹209.08
+47.7% MoS
PEG
0.28
Comparable companies
Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
TRANSRAILL
Micro
Transrail Lighting Limited
Lighting
match 89
76
15.0
20.0%
+62%
DEEP VALUE
KERNEX
Micro
Kernex Microsystems (India) Limited
Railway Equipment
match 88
69
14.6
43.5%
+61%
UNDERVALUED
JWL
Large
Jupiter Wagons Limited
Railway Equipment
match 78
29
48.5
6.4%
-28%
OVERVALUED
TITAGARH
Large
TITAGARH RAIL SYSTEMS LIMITED
Railway Equipment
match 75
30
51.9
6.8%
-35%
OVERVALUED
RITES
Large
RITES Limited
Construction & Engineering
match 71
41
23.1
15.4%
-245%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-10-12T08:17:59.645Z
Management commentary snapshot
Q1 FY27 revenue impacted by lower freight car and rail infra execution, but Electrical Infra (Bright Power) grew 76.8% YoY. EBITDA margin improved to 10.8%, and PAT surged 85.9% YoY, driven by cost optimization and finance cost reduction.
Management's focus on profitability and diversification is yielding results, with significant margin expansion and a robust, diversified order book. The shift towards private/export orders and new business initiatives like leasing and defense are key for de-risking and long-term growth, despite Q1 execution challenges.
Current business mix
Order Book by Customer Type (Q1 FY27)
Latest issuer-disclosed distribution across 2 reported categories.
Private Sector & Export96.4%
Indian Railways3.6%
Growth engines
Electrical Infrastructure (Bright Power)
Continued strong performance with 76.8% YoY revenue growth and EBIT margin improving to 10.8%, an expansion of 150 basis points YoY.
Diversified Order Book
Share of private sector and export orders increased to 96.4% in Q1 FY27, diversifying order book, revenue visibility, and improving margins.
Wagon Leasing Joint Venture
Recent entry of TrinityRail into Texmaco Touax JV aims for a larger share of the leasing market, targeting a jump from 15% to 50% share.
New Business Areas
Venturing into Kavach, defense, renewables, and passenger rolling stock interiors (Saira Asia) to reduce industry cyclicity and create growth avenues.
Capacity and execution
South African Manufacturing Plant
Company is looking to establish a locomotive and wagon manufacturing plant in South Africa to meet localization requirements and improve export business.
Tailwinds
Government Policy Reforms
Ministry of Railway is proactively reforming policies and coming up with enablers for exciting private investment in the country.
National Rail Plan 2030
Plan aims to increase rail transport share from 27% to 45% by 2030, implying a need for more wagons, track building, signaling, and safety equipment.
DFCC Operationalization
Dedicated Freight Corridor (DFCC) becoming fully operational has shown tremendous traffic, indicating future demand.
Headwinds
Supply Chain Challenges
Q1 FY27 execution was impacted by supply chain stress due to high oil and gas prices, affecting critical components.
Risk radar
Supply Chain Volatility
Dependence on external factors like oil and gas prices can interrupt the supply of critical components for manufacturing.
Execution Risk in New Areas
Venturing into new businesses like Kavach, defense, and renewables requires careful capability building and profitable execution.
Capital Allocation Efficiency
Need to ensure new investments in JVs and potential manufacturing plants (e.g., South Africa) yield expected returns and do not 'burn fingers'.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
YoY comparison is crucial for assessing overall financial growth and segment performance like Electrical Infra. QoQ is relevant for tracking sequential momentum in finance cost reduction and understanding execution challenges in Q1.
Sector KPIs management disclosed
Revenue from Operations
Company reported stand-alone revenue from operations of INR 753 crores in Q1 FY27, impacted by lower execution in Freight Car and Rail Infra divisions.
EBITDA & Margin
EBITDA amounted to INR 81 crores, translating to a margin of 10.8% in Q1 FY27. EBITDA remained in line with corresponding quarter of previous year despite lower revenues.
Profit After Tax (PAT) & Margin
PAT increased by 85.9% YoY to INR 52 crores, translating into a PAT margin of 6.9%, an improvement of 381 basis points YoY.
Order Book
As of June 30, 2026, company's order book stands at INR 9,923 crores, providing multi-year execution visibility across Freight Cars, Infrastructure, Rail Infrastructure, Electrical and other businesses.
Management forward view
Focus on Bottom Line & Margin Improvement
Management is strongly focusing on bottom line, aiming for continuous improvement and a journey towards mid-teen EBITDA margins.
Vision 2030 (Texmaco 2.0)
Ambition to double top line to INR 5,000-6,000 crores by 2030 by adding new businesses, while qualitatively improving the core business bottom line.
South Africa Order Execution
The INR 4,100 crores South Africa wagon order (excluding potential loco order) is expected to add 50% to revenue in the coming financial year (FY28).
Wagon Leasing Expansion
Company is ready to invest for around 100 additional rakes in the leasing business, aiming for a significant market share increase.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| EBITDA Margin | 10.8% (Q1 FY27) | Sustained improvement towards mid-teen margins and consistency across quarters. |
| Order Book Diversification | 96.4% private/export (Q1 FY27) | Continued healthy mix of private/export orders and any new significant tenders from Indian Railways. |
| Wagon Leasing JV Scale-up | 35 rakes operating, ready to invest for 100 additional rakes | Actual capital allocation, deployment of additional rakes, and market share gains in leasing. |
| South Africa Order Execution | INR 4,100 crores, 50% expected in FY28 | Timely execution, revenue recognition, and finalization of the locomotive order component. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
68Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 56th percentile of the scored universe and 52nd percentile within Industrials. Main check: results consistency is weak at 44/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
69 docs text-extracted · 33 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
56th percentile
overall median 67 · Industrials: 52nd pctile, median 68 · Micro: 34th pctile, median 73
Evidence depth
Financial-only
69 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
73
acceptable · leverage and solvency
Discipline
60
acceptable · capital discipline
Results
44
weak · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 2.9%.
- ▸5 years of positive FCF.
- ▸OPM spread across recent quarters is 3%.
Trust risks
- ▸ROE is low at 7.3%.
- ▸0/4 latest quarters had positive YoY revenue growth.
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Texmaco Rail & Engineering Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Acquisition 30 Sep - Subsidiary TDTL signed SPA to acquire 100% of ITSPL for ₹8 lakh within 30 business days.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 17 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 5 Sep - Texmaco Rail received two domestic wagon orders worth Rs. 131.36 crore.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 1 Sep - Texmaco won Rs. 24.48 crore domestic order from TCI to supply and commission 1 rake within 16 weeks.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.