FY27 Revenue Target: ₹700 crore
Management projects full-year FY27 revenue of approximately ₹700 crore, driven by improved wagon production (500 wagons in Q2, targeting 200/month from Q3) and better capacity utilization.
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revenue
EBITDA Margin: 15-17% (Consolidated)
Targeting EBITDA margin of 15-17% on consolidated level over medium term, with freight wagon business specifically targeted at 15-17% EBITDA margin as capacity utilization improves from current ~50%.
Smart Wagon Revenue: ₹750 crore (FY28-29 onwards)
Through HM USA JV (51:49), targeting annual revenue of ₹750 crore from smart wagon technology at 30,000 units/year, with partial revenue in FY27 and full ramp-up from FY28-29.
Wagon Capacity Expansion: Q1 FY28
Initiating capacity expansion from 2,400 to 3,600 wagons per annum in Q1 FY28, with further expansion to 4,800 wagons planned, requiring ₹60-70 crore capex funded through internal accruals.