Texmaco FY26: Profit resilience, a changing order book, and the Vision 2030 pivot

FY26 revenue from operations was INR 4,377 crore, EBITDA INR 450 crore (10.3% margin), and PAT INR 194 crore (4.4% margin), as per the presentation.

Q4 FY26 revenue from operations was INR 1,167 crore, EBITDA INR 116 crore (10.0% margin), and PAT INR 58 crore (5.0% margin), as per the presentation.

The presentation shows Q4 FY26 revenue mix of 78% Freight Car Division, 16% Infra Electrical, and 6% Infra Rail and Green Energy.

The company disclosed an LOA of USD 43,05,72,749 (equivalent to INR 4,045 crore) for freight wagons/locomotives/components and long-term maintenance. The press release notes 2,235+ wagons, 30 diesel locomotives, and a proposed 15-year maintenance partnership.

The presentation states a consolidated order book of INR 5,408 crore.

Management stated net debt reduced to INR 444 crore by March 2026, and net debt to equity improved to 0.18x.

Vision 2030 targets 2x revenue by 2030, structurally higher EBITDA margins (mid-teen and above), reduced Indian Railways dependency to below 40%, and expansion into technology-led and diversified businesses including signalling/safety, propulsion, defence, exports and a GCC.