531859

Oriental Rail financials

Market cap
₹832 Cr
Sector
Capital Goods
Calls analysed
1
Latest concall · Q1 FY27 · call held 19 Aug 2026

Oriental Rail Q1 FY27

Revenue ₹137.6 cr +17%EBITDA ₹20.9 cr +44%EBITDA Margin 15.2% PAT ₹10.7 cr +83%

What went well

  • Revenue from operations grew 16.7% YoY to INR137.6 crores in Q1 FY27.
  • EBITDA increased 43.7% YoY to INR20.9 crores, with EBITDA margin expanding 286 bps to 15.2%.
  • Profit After Tax (PAT) surged 83% YoY to INR10.7 crores, with PAT margin improving to 7.8% from 5%.

What to watch

  • Q1 FY27 revenue was sequentially moderated due to the impact of the US-Iran war and fuel supply crisis in March-April 2026.
  • Past margin pressures due to dependency on outside suppliers, though now mitigated by backward integration.
Read the full call →

What Oriental Rail does

Oriental Rail Infrastructure Limited (ORIL) is an RDSO-approved railway-components manufacturer operating in two segments: Freight Wagons & Components, made through its wholly owned subsidiary Oriental Foundry Private Limited (OFPL), covering wagons, bogies, couplers, draft gears, bogie springs and side bearers; and Rolling Stock Interior & Allied Products, covering passenger-coach seats & berths and artificial-leather rexine (ORVIN), along with foam, compreg, shuttering-board and phenolic-resin products used in coach interiors. It earns by manufacturing and supplying these products against orders from Indian Railways and other rail-sector customers. The company has technology partnerships with HUM International (USA) for smart wagon-monitoring systems and United Wagon Company (Russia) for high axle-load wagon platforms, and has received in-principle regulatory approval to start a wagon-leasing business.

Segments

  • Freight Wagons & Components
  • Rolling Stock Interior & Allied Products
Manufacturing facilities
4 units across ~100 acres (Thane, Maharashtra & Kutch, Gujarat)
Freight wagon installed capacity
2,400 wagons p.a.
Freight wagons delivered to date
4,000+
Seats & Berths installed capacity
3,600 coach sets p.a.
Seats & Berths sets delivered to date
40,000+
ORVIN rexine installed capacity
36,00,000 metres p.a. (~3.6 million metres)
Founded 1991Headquarters Aghai, Thane, Maharashtra, India (Corporate office: Mumbai, Maharashtra) Company website

Guidance record · Q1 FY27

what the last two calls moved 8 tracked 0 delivered 0 missed 8 open
  • Consolidated Revenue open said Q1 FY27 Promised: around INR700 crores Q1 FY27: Management guided for a full-year turnover of around INR 700 crores for FY27.

All 8 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 16.9%, net profit up 83.3% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue186 153 140 118 133 −28%169 +10%153 +9%138 +17%
EBITDA21 17 17 15 22 +5%25 +47%24 +41%21 +40%
Net profit10 8 5 6 11 +10%14 +75%12 +140%11 +83%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −23.4% 1Y

₹100₹120₹140₹160₹180Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q1 FY27 — 19 Aug 2026

1Y: ₹162.1 on 10 Sept 2025 → ₹124.2. High ₹175 (31 Oct 2025), low ₹103.5 (20 Aug 2026).

How the price took the results

close before → close after

Q1 FY27
−1.9%
19 Aug

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 20.9% a year over 3 years, FY23 to FY26. Operating margin widened to 15.0%.

Year endingFY23FY24FY25FY26
Revenue₹324 Cr₹527 Cr₹602 Cr₹573 Cr
Operating profit₹25 Cr₹67 Cr₹69 Cr₹86 Cr
Operating margin7.6%12.7%11.5%15.0%
Interest₹16 Cr₹22 Cr₹22 Cr₹25 Cr
Depreciation₹8 Cr₹8 Cr₹8 Cr₹8 Cr
Net profit₹4 Cr₹30 Cr₹29 Cr₹43 Cr
Net margin1.1%5.7%4.8%7.5%
Cash from operations₹-44 Cr₹6 Cr₹-24 Cr₹-30 Cr
Free cash flow₹-70 Cr₹0 Cr₹-38 Cr₹-55 Cr
ROCE6.0%12.0%11.0%12.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹5 Cr₹5 Cr₹5 Cr₹6 Cr₹7 Cr₹7 Cr
Reserves₹85 Cr₹99 Cr₹102 Cr₹280 Cr₹388 Cr₹413 Cr
Borrowings₹165 Cr₹178 Cr₹314 Cr₹294 Cr₹229 Cr₹319 Cr
Other liabilities₹53 Cr₹58 Cr₹56 Cr₹66 Cr₹102 Cr₹112 Cr
Total liabilities₹308 Cr₹340 Cr₹478 Cr₹646 Cr₹726 Cr₹851 Cr
Fixed assets₹74 Cr₹107 Cr₹106 Cr₹125 Cr₹125 Cr₹133 Cr
Capital work in progress₹21 Cr₹0 Cr₹20 Cr₹0 Cr₹8 Cr₹13 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹1 Cr₹1 Cr
Other assets₹213 Cr₹233 Cr₹351 Cr₹521 Cr₹593 Cr₹704 Cr
Total assets₹308 Cr₹340 Cr₹478 Cr₹646 Cr₹726 Cr₹851 Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, promoters added +1.31 pp while the public trimmed −1.09 pp. The shareholder count shrank 10% to 32,289.

Promoters
57.7%
FIIs
0.1%
Public
42.2%

Since Jun 2025

  • Promoters +1.31 pp
  • Public −1.09 pp
  • FIIs −0.24 pp

How it drifted, 12 quarters

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 57.9%, Public 42.1%.Dec '23: Promoters 57.9%, FIIs 0.0%, Public 42.1%.Mar '24: Promoters 54.8%, FIIs 0.0%, Public 45.2%.Jun '24: Promoters 54.8%, FIIs 0.3%, Public 44.9%.Sep '24: Promoters 54.8%, FIIs 0.3%, Public 44.9%.Dec '24: Promoters 56.0%, FIIs 0.4%, Public 43.5%.Mar '25: Promoters 56.0%, FIIs 0.4%, Public 43.6%.Jun '25: Promoters 56.4%, FIIs 0.3%, Public 43.3%.Sep '25: Promoters 57.7%, FIIs 0.3%, Public 42.0%.Dec '25: Promoters 57.7%, FIIs 0.1%, Public 42.1%.Mar '26: Promoters 57.7%, FIIs 0.1%, Public 42.2%.Jun '26: Promoters 57.7%, FIIs 0.1%, Public 42.2%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Oriental Rail above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Saleh N Mithiborwala 12.76%unchanged
Wazeera Saleh Mithiborwala 11.85%unchanged
Vision Infpro (India) Private Limited 8.20%unchanged
Vali N Mithiborwala 6.85%unchanged
Mukul Mahavir Agrawal 5.07%unchanged
Vinod Radheyshyam Agarwal 4.13%unchanged
Shaheen A Mithiborwala 3.54%unchanged
Karim N Mithiborwala 3.31%unchanged
Sakina E Mithiborwala 3.15%unchanged
Hussaina Vali Mithiborwala 1.92%unchanged
Ebrahim Nuruddin Mithiborwala 1.91%unchanged
Industrial Laminates (India) Private Lim 1.76%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Attractive

To justify its price of ₹124, this stock must grow earnings at 11% every year for 7 years. Our analysis caps realistic growth at ~120%. At that growth it is worth ₹11044 — upside of 8792%.

Growth the price implies
11.3% a year
for 7 years, fading to 4%
It has actually compounded at
126.1% a year
net profit, FY23–FY26 · EPS 120.4%
The gap
-1.1 pp
8792% downside if it only repeats history
Price today ₹124.2 Value at the reference growth ₹11,044.2

Change the assumptions yourself →

Learn to analyse Oriental Rail

Guides on how to read this kind of business and the numbers that matter.