Texmaco Rail & Engineering Ltd. reported a Revenue from Operations of ₹4,377 crore for FY26, reflecting a year-on-year decline of 14.3% amid challenging market conditions. The company achieved an EBITDA of ₹450 crore with a 10.3% margin and a Profit After Tax (PAT) of ₹194 crore. Despite supply chain disruptions, Texmaco maintains a strong order book of ₹5,408 crore and is aggressively pursuing its Vision 2030 strategy to transform into a diversified, technology-driven global engineering conglomerate.
Fiscal Year 2026 Financial Overview
Texmaco navigated a difficult fiscal year characterized by global supply chain disruptions and US tariff impositions. For FY26, the company recorded total revenue of ₹4,377 crore. Operational performance saw a recovery in the final quarter, with Q4 FY26 posting revenue of ₹1,167 crore and a PAT of ₹57.7 crore, marking a 45.1% growth compared to the same period in the previous year. The company successfully improved its financial health, with Net Debt decreasing to ₹444 crore and the Net Debt to Equity ratio improving to 0.18x.
Operational Highlights and Segment Growth
The Freight Car division remains a core pillar, delivering 8,372 units during the year. While the wagon business faced headwinds, the Infra – Electrical business segment showed significant resilience, achieving 66.1% growth with revenues reaching ₹610 crore and an EBIT margin of 10.8%. Strategic initiatives during the year included the commissioning of hydro mechanical systems for the 2,000 MW Subansiri Lower Hydroelectric Project and the launch of ‘Invariz,’ an AI-powered Global Capability Centre to drive operational efficiencies.
Strategic Partnerships and Future Outlook
Texmaco is actively diversifying through key joint ventures, including a significant partnership with Rail Vikas Nigam Limited (RVNL) to enhance participation in rail infrastructure and EPC projects. The company’s Vision 2030 roadmap aims to reduce dependence on the cyclical wagon business by shifting towards non-cyclical, high-margin segments. Key growth areas for the future include signaling and safety systems (Kavach), defence manufacturing, and power electronics, ensuring a sustainable and scalable growth trajectory.
Order Book Composition
As of March 31, 2026, the company holds a robust order book of ₹5,408 crore. Notably, there has been a strategic shift in market demand for freight cars, with the order book mix moving from 79% Indian Railways-led in FY25 to 79% private-sector and export-focused in FY26, reflecting the company’s success in capturing new market opportunities.
Source: BSE
