Transrail Lighting IPO

Established track record: Company has a track record of established presence and growth in power transmission and distribution vertical. It has completed more than 200 projects, has built substations of up to 400kV and completed more than 300 track km of overhead electrification, 80 TKM of track laying and 12 projects in relation to signaling and telecommunications for railway projects in India.

Established manufacturing facilities: Transrail Lighting has established manufacturing facilities in Gujarat, Maharashtra, Silvassa and Dadar & Nagar Haveli. The factories are fitted with advanced CNC machines, plasma/gas-cutting machines, shearing machines, welding facilities, large sized galvanizing baths, wire drawing machines and furnaces.

Strong order book : Company's order book has a healthy balance of international and domestic clients and has witnessed growth over the past few years. Some of the leading projects include construction of river crossing transmission lines in Bangladesh worth Rs. 41,105 million, Construction of tunnels in Jammu and Kashmir worth approximately Rs. 44,845 million etc.

In-house designing, engineering : Company has developed key competencies and resources in-house to deliver a project from conceptualization until completion, with an experienced team of 83 designers and engineers who are specialists in each segment.

Long project gestation: Since their project management and turnkey EPC contracts have long execution periods and time overruns, estimated costs and revenue may vary from actual costs and revenue generated which may adversely affect business.

Government tenders: Company's business is substantially dependent on tenders being floated by government authorities, PSUs and utilities, from which they derive approx 88% of revenue from operations.

Non compliances: In the past, company's books of accounts have been inspected by the Ministry of Corporate Affairs and certain non-compliances have been found. If they are subject to penalties or other regulatory actions for these non-compliances, their reputation and business may be affected.