TEXRAILTexmaco Rail & Engineering Ltd.
Texmaco Rail & Engineering Q2 FY27 Results: Consolidated Net Profit ₹111 Crore on Total Income of ₹878 Crore
- Earnings
- railway equipment manufacturing
Reviewed byKeshav SehgalBlacklitt Research
Texmaco Rail & Engineering (NSE: TEXRAIL) reported consolidated total income of ₹878.44 crore and net profit of ₹111.04 crore for the quarter ended 30 Sep 2026, a quarter that includes an exceptional gain of ₹76.01 crore, it said in a filing on 05 Nov 2026. Standalone total income was ₹877.76 crore and standalone net profit was ₹36.12 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹878.44 crore, down 30.6% YoY and up 13.3% QoQ
- Net profit: ₹111.04 crore, up 73.7% YoY and 121.8% QoQ
- EPS: ₹2.74 basic, against ₹1.62 a year earlier
- Exceptional gain: ₹76.01 crore on deemed disposal of JV interest
Standalone
The company on its own, without its subsidiaries
- Total income: ₹877.76 crore, down 30.8% YoY and up 12.9% QoQ
- Net profit: ₹36.12 crore, down 41.6% YoY and 30.1% QoQ
- EPS: ₹0.89 basic, against ₹1.55 a year earlier
- Profit before tax: ₹51.16 crore, down 46.7% YoY
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 878.44 | 1,266.14 | -30.6% | 775.21 | +13.3% | |
| Revenue from operations | 867.75 | 1,258.10 | -31.0% | 756.68 | +14.7% |
| Other income | 10.69 | 8.04 | +33.0% | 18.53 | -42.3% |
| 111.04 | 63.92 | +73.7% | 50.07 | +121.8% | |
| Profit before tax | 126.08 | 98.15 | +28.5% | 42.50 | +196.6% |
| Finance costs | 24.87 | 30.20 | -17.6% | 25.08 | -0.8% |
| Depreciation | 12.99 | 11.07 | +17.4% | 12.34 | +5.3% |
| Tax expense | 15.03 | 34.23 | -56.1% | -7.57 | n/a |
| Net profit margin | 12.64% | 5.05% | +7.59 pp | 6.46% | +6.18 pp |
| EPS, basic (₹) | 2.74 | 1.62 | +69.1% | 1.23 | +122.8% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit grew 73.7% YoY while total income fell 30.6%, and profit before tax rose 28.5%. The filing presents the ₹76.01 crore gain on deemed disposal of the interest in Texmaco Touax Railcar Leasing Private Limited as an exceptional item under Ind AS 28, in the quarter ended 30 Sep 2026. The gain follows the Joint Venture issuing shares to a new investor, which diluted the group's holding from 50% to 34% on a fully diluted basis.
Operating income carried less of the profit. Revenue from operations fell 31.0% YoY to ₹867.75 crore, while other income rose 33.0% to ₹10.69 crore, which is 1.2% of total income. Finance costs of ₹24.87 crore are 2.8% of total income, against ₹30.20 crore a year earlier, a fall of 17.6%. Depreciation rose 17.4% to ₹12.99 crore.
The tax line is small against profit before tax. Tax expense of ₹15.03 crore is 11.9% of consolidated profit before tax of ₹126.08 crore, against ₹34.23 crore a year earlier. The notes do not say what part of the exceptional gain was taxed.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 877.76 | 1,269.12 | -30.8% | 777.80 | +12.9% | |
| Revenue from operations | 863.10 | 1,256.93 | -31.3% | 752.92 | +14.6% |
| Other income | 14.65 | 12.19 | +20.2% | 24.88 | -41.1% |
| 36.12 | 61.82 | -41.6% | 51.71 | -30.1% | |
| Profit before tax | 51.16 | 96.05 | -46.7% | 44.14 | +15.9% |
| Finance costs | 24.33 | 30.11 | -19.2% | 24.93 | -2.4% |
| Depreciation | 12.65 | 10.93 | +15.7% | 12.03 | +5.1% |
| Tax expense | 15.03 | 34.23 | -56.1% | -7.57 | n/a |
| Net profit margin | 4.12% | 4.87% | -0.76 pp | 6.65% | -2.53 pp |
| EPS, basic (₹) | 0.89 | 1.55 | -42.6% | 1.27 | -29.9% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone profit fell while the consolidated figure rose. Standalone net profit fell 41.6% YoY to ₹36.12 crore and 30.1% QoQ, while consolidated net profit rose ₹74.92 crore above the standalone figure. Standalone profit before tax fell 46.7% to ₹51.16 crore, and the exceptional gain sits only in the consolidated accounts.
Standalone income lines moved differently. Revenue from operations fell 31.3% YoY to ₹863.10 crore, while other income rose 20.2% to ₹14.65 crore, 28.6% of standalone profit before tax. Standalone finance costs of ₹24.33 crore are 2.8% of total income, and depreciation rose 15.7% to ₹12.65 crore. Standalone EPS of ₹0.89 compares with ₹1.55 a year earlier.
Inference
The filing records a dividend paid of ₹30.43 crore in the half year ended 30 Sep 2026, and a Board-approved re-appointment of Udyavar Vittal Kamath as Executive Director for one year from 1 Feb 2027, subject to shareholder approval. The filing also records a grant of 10,32,780 options under Texmaco Rail Long Term Incentive Plan 2026, with a share-based payment expense of ₹1.64 crore.
The filing does not say whether a dividend has been declared for the quarter, who the new investor in the Joint Venture is, or on what price or terms its shares were issued. Nor does it give a reason for the fall in standalone profit.
Filed with BSE on . Reference: Original filing (PDF)
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