Subscribe for Transrail Lightings Ltd IPO; KR Choksey

KR Choksey, has come out with its report on Transrail Lightings Ltd. The research firm has recommended to “ Subscribe” the ipo in its research report as on December 18 2024.

Broker Research

December 18, 2024 / 14:36 IST

IPO

KR Choksey, Transrail Lightings Ltd

Transrail Lighting Limited (Transrail) is an Indian engineering, procurement and construction (EPC) company that specializes in the power transmission and distribution business. The company has integrated manufacturing facilities, as it produces key components like lattice structures, conductors and monopoles in-house. Transrail caters to a wide range of clients, both domestically and internationally. In India, its client base includes central public sector undertakings under the Ministry of Power, state government-run power companies and private power transmission and distribution companies. Internationally, they have a presence in 58 countries across Asia, the Americas, Europe and Africa. The company has grown significantly, completing over 200 power transmission and distribution projects. As of June 30, 2024, the company has executed EPC projects for 34,654 circuit kilometers (cKm) of transmission lines and 30,000 cKm of distribution lines, both within India and globally.

Valuation and Outlook

The robust order book for sustained growth, outweighs concerns over concentration risks and execution challenges. Given these factors, we assign a SUBSRIBE rating.

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