NSE: DHARARAIL·Listed on NSE Emerge — 31 Dec 2025·ISO 9001:2015 Certified·Order Book ₹143.78 Cr · 60 Active Projects

Engineering
India's railway
future.

For 15+ years, Dhara Rail Projects Limited has partnered with the Ministry of Railways and leading OEMs to maintain, repair and commission critical rolling-stock systems across all of India's major railway zones.

Indian Railways infrastructure
CURRENTLY DELIVERING
Train lighting AMC across the Vande Bharat fleet, with 60 active projects across 17 railway zones.
15+
Years of operation
60
Active projects
₹143 Cr
Order book (Dec '25)
17
Railway zones served

Financial highlights
H1 FY 2026.

Six-month performance ending 30 September 2025 — margins, returns, and net worth all stepped up sharply.

Revenue (H1 FY26)
₹28.36Cr
63.7% of FY25 in 6 mo
PAT (H1 FY26)
₹7.06Cr
24.90% margin
Net Worth
₹19.95Cr
+55% vs FY25
ROCE
24.33%
H1 FY26
ROCE & ROE shown on a half-year basis. All figures from the company's audited / limited-review financial statements; details in the Investor Hub.

Specialised engineering
solutions for India's rail network.

From train lighting and HVAC to OHE Tower Wagons and Power Car equipment — we cover every system that keeps a passenger train moving.

Train Lighting Equipment
01 · Train Lighting

Train Lighting Equipment

AMC and repair of LED interior, emergency lighting, wiring, connectors, switches, control modules, and battery backup systems for the Vande Bharat fleet and conventional rolling stock.

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OHE Tower Wagons
02 · OHE Maintenance

OHE Tower Wagons

Maintenance of Overhead Equipment maintenance vehicles — engine, brakes, power circuits, batteries — across multiple Indian Railways zones.

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Power Car Equipment
03 · Power Car Equipment

Power Car Equipment

Repair and AMC for Diesel Generator (DG) sets, electrical distribution boards, battery banks, fuel and exhaust systems, and circuit protection on conventional rolling stock.

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HVAC Systems & SITC
04 · HVAC & SITC

HVAC Systems & SITC

AMC for HVAC systems in passenger coaches plus full Supply, Installation, Testing and Commissioning of lighting, panels, batteries, switchboards and electrical components.

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Why DRPL.

Four structural advantages that compound — a diversified order book, deep client relationships, certified quality, and seasoned promoter leadership.

01

Diversified pan-India order book

60 ongoing projects worth ₹143.78 crores spread across 17 railway zones — including AMC, SITC, and outsourced O&M of electrical equipment, diesel alternators and coach servicing.

02

Long-term Indian Railways relationship

Direct contracts secured via competitive tendering, plus pre-bid arrangements with leading OEMs. Direct-contract share grew from 35% in FY23 to 74% in H1 FY26.

03

Assured quality systems

ISO 9001:2015 certified across all engagements. Compliance with Indian Railways and RDSO specifications, with documented inspection regimes for every project.

04

Experienced promoter leadership

Promoters bring 20+ and 24 years of railway sector experience respectively, with deep client networks across Indian Railways and leading OEM partners.

Pan-India presence
across 17 railway operations.

DRPL has expanded its product and service offerings across multiple geographical locations in India — operating in every major Indian Railways zone plus Metro Rail networks.

01Central Railway
02Eastern Railway
03East Central Railway
04East Coast Railway
05Northern Railway
06North Central Railway
07North Eastern Railway
08North East Frontier Railway
09North Western Railway
10Southern Railway
11South Central Railway
12South Eastern Railway
13South East Central Railway
14South Western Railway
15Western Railway
16West Central Railway
17Metro Rail Corporations

A multi-decade
structural tailwind.

India's railway sector is on a sustained growth trajectory — with rising public investment, a vast active fleet, and a projected leap in the country's share of global rail activity.

01

₹3.02 lakh crore allocation

Union Budget 2025–26 allocation for the Ministry of Railways — up from ₹2.52 lakh crore in the previous year (a 19.8% increase).

02

13,000+ passenger trains

Active fleet (March 2025): 4,111 Mail/Express, 3,313 Passenger and 5,774 Suburban services — a vast and growing AMC opportunity.

03

4th-largest network globally

Indian Railways trails only the US, China and Russia — and is projected to become the third-largest within five years, capturing 10% of the global railway market.

04

40% of global rail by 2050

India is projected to account for 40% of the total global share of rail activity by 2050 — a structural multi-decade tailwind for sector specialists.

Ready to build with India's trusted rail engineering partner?