Promoter holding
64.27%
TL
Transrail Lighting Limited - Due diligence report
A 360° intelligence report on Transrail: trust score, financial health, credit view, compliance, directors, growth and distress signals - ge…
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Transrail — 360° Intelligence Report
Generated from MCA filings & public records77/100
Trust Score
Low Risk
Transrail is assessed as Low Risk with a Trust Score of 77/100. Transrail is an active public limited indian non-government company incorporated in 2008, operating in the Engineering sector. The company has shown revenue growth across its recent filed years. It was profitable in its latest filed year. Based on MCA filings and public records, it currently shows a moderate compliance risk and low financial risk profile.
Report generated on 09 Aug 2026 from the latest processed filings. Transrail Lighting Limited snapshot & full profile →
Automated indicators derived from public MCA / GST / EPFO records - not a credit rating, not investment, legal or financial advice. Spotted an inaccuracy? Report an error.
02
Score Card
Higher is safer · rule-based & explainableTrust ScoreLow Risk
77/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreModerate
72/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreLow Risk
95/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreModerate
55/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreCaution Indicated
30/100
Board strength, DIN status, churn and network.
Growth ScoreLow Risk
95/100
Revenue, profit, asset and hiring momentum.
Distress ScoreLow Risk
80/100
Early-warning signals - higher means fewer warnings.
03
Financial Intelligence Dashboard
Standalone · 5 filed year(s)Unlock the full 5-year financial dashboard with charts and year-wise figures.
Get full accessScores and observations on this page are already computed from the real filings - only the underlying figures are locked.
04
Credit & Compliance Intelligence
Why the scores are what they are
Credit Risk Score: 55/100 Moderate
- Liabilities ≈ 38% EBITDA - stretched.
- Open charges exceed net worth - secured lenders rank ahead.
- Moderate gearing (D/E 1.42).
- Profitable - internal accruals available.
- Externally credit-rated (A-).
Charges position: 12 open (10,427.96 cr) · 10 satisfied (1,533.44 cr).
Banking relationships (from registered charges)
| Lender | Charges | Amount |
|---|---|---|
| Idbi Trusteeship Services Limited | 6 | 48.0 cr |
| Others | 11 | 48.0 cr |
| Canara Bank | 2 | 48.0 cr |
| Idbi Bank Limited | 2 | 48.0 cr |
| Indian Bank | 1 | 48.0 cr |
Compliance Score: 72/100 Moderate
- Company status is Active as per MCA.
- Annual filings current (balance sheet Mar 2025).
- Litigation present in 4 court forum(s).
- Delayed payments to MSME suppliers disclosed (322 disclosure(s)).
- 26 active GST registration(s).
Legal cases on record (4)
05
Director Intelligence
Stability score: 30/100| Name | DIN / PAN | Designation | Appointed | Tenure | DIN status |
|---|---|---|---|---|---|
| DIGAMBAR CHUNILAL BAGDE | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| VINOD KUMAR DASARI | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| RANJIT RAGHUNATH JATAR | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| RANDEEP NARANG | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| RAVITA NIRMAL PUNWANI | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| ASHISH GUPTA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| DEEPAK KHANDELWAL | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| DHARMENDRA SINGH GANGWAR | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| DHULIPALA SURYANARAYANA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| INDU SHEKHAR JHA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SRIKANT CHATURVEDI | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SANJAY KUMAR VERMA | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| DILAWAR SINGH | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Deepak Khandelwal | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| Raman Rajagopalan | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
- 15 directors on the board.
- DEEPAK KHANDELWAL has DIN status "Deactivated due to non-filing of DIR-3 KYC".
- 12 director exits in 3 years - high churn.
Director & KMP remuneration (FY 2024)
| Name | Designation | Total remuneration |
|---|---|---|
| A K Sharma | Managing Director | 2.4 cr |
| R Mehta | Whole-time Director | 1.6 cr |
| S Iyer | CFO | 95.0 L |
Remuneration is disclosed in the latest annual return. Unlock full report
06
Ownership & Group Intelligence
As per FY 2024 annual returnPublic / other holding
35.73%
Equity shares
12,45,67,890
Equity paid-up
124.5 cr
Promoters on record
4
Ultimate holding entity
Ajanma Holdings Private Limited
Subsidiaries
-
Group entities
-
Capital events
9 allotment(s) · 0 transfer(s)
Promoters hold a dominant controlling stake - exact percentages are part of the full report.
| Group entity | Relationship | % held |
|---|---|---|
| Transrail International Fze | Subsidiary Company | 74.00% |
| Transrail Lighting Malaysia Sdn. Bhd. | Subsidiary Company | 74.00% |
| Transrail Lighting Nigeria Limited | Subsidiary Company | 74.00% |
| Transrail Structures America Inc | Subsidiary Company | 74.00% |
| Ajanma Holdings Private Limited | Holding Company | 74.00% |
Key managerial personnel: DIGAMBAR CHUNILAL BAGDE (Whole-time director) · RANDEEP NARANG (Managing Director) · DEEPAK KHANDELWAL (CFO) · DHULIPALA SURYANARAYANA (Whole-time director) · Raman Rajagopalan (Whole-time director)
Full shareholding pattern, group structure & capital events →
07
Risk Intelligence Center
Growth 95 · Distress 80
Growth signals & trust indicators
Revenue acceleration: +2.1x over 4 year(s).
Latest year revenue grew 24%.
Profit expanded 0.86 year-on-year.
Asset base grew 61% - capacity expansion.
Net margin improved to 38%.
Operating for 18+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
6 director exits within 2 years.
12 open charge(s) registered - assets are encumbered.
MSME payment delays disclosed - latest outstanding 12.05 cr.
4 court case(s) on record - see the legal section for details.
08
Stakeholder Verdicts
Vendor · Banker · InvestorVendor due diligence76/100
Favourable indicators
Suitability as a supplier / customer counterparty.
- Statutory record is clean.
- 1 distress signal(s) - see Risk Center.
- Financial filings available for verification.
Banker assessment71/100
Favourable lending indicators
Indicative lending comfort for banks, NBFCs and trade credit.
- Debt capacity assessed from filed statements.
- 12 open charge(s) of 10,427.96 cr already registered.
- Compliance record supports lending.
Investor view90/100
Positive growth indicators
Growth quality and scalability through an investor lens.
- 5 growth signal(s) detected.
- Margin and return trends computable from filings.
- Management churn warrants questions.
09
MCA Filings & Events Timeline
Latest 15 events17 Nov 2025
Charge created
Others - 50.00 cr
23 Sep 2025
Charge created
Others - 250.00 cr
Last AGM held
Annual general meeting
22 Sep 2025
Director ceased
DHARMENDRA SINGH GANGWAR
Director ceased
DHULIPALA SURYANARAYANA
Director ceased
Raman Rajagopalan
13 Aug 2025
Charge created
Others - 40.00 cr
05 Aug 2025
Director appointed
DHARMENDRA SINGH GANGWAR (Director)
Director appointed
DHULIPALA SURYANARAYANA (Whole-time director)
Director appointed
Raman Rajagopalan (Whole-time director)
19 Jun 2025
Charge satisfied
Others
08 Jun 2025
Director ceased
INDU SHEKHAR JHA
27 May 2025
Charge satisfied
Canara Bank
23 May 2025
Director appointed
INDU SHEKHAR JHA (Director)
Director ceased
Gandhali Anant Upadhye
10
Key Observations
Auto-generated from the data aboveRevenue grew 1.42 over the last 4 financial year(s).
Net profit margin moved from 2.1x to 24%.
Debt-to-equity stands at 0.86 - manageable leverage.
Net worth is positive.
15 active director(s) / partner(s); review board churn before relying on management continuity.
26 active GST registration(s) indicate ongoing business operations.
Carries an external credit rating of A- from Crisil.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold a dominant controlling stake as per the FY 2024 annual return.
Director / KMP remuneration is disclosed in the latest annual return - exact figures available in the full report.
Capital has been raised through 9 security allotment(s) - amounts available in the full report.
27 overseas direct investment(s) (ODI) on record - international footprint.
| Company | CIN | Location |
|---|---|---|
| Mahindra Accelo Limited | U51900MH1978PLC020222 | Mumbai, Maharashtra, India |
| Uttam Galva Metallics | U27200HR2007PLC037927 | Gurgaon, Haryana, India |
| Keihin Fie | U74999PN1999PTC013837 | Pune, Maharashtra, India |
| Shakambhari | U27109WB2001PLC093869 | Kolkata, West Bengal, India |
| Steel Strips Wheels | L27107PB1985PLC006159 | Na, Punjab, India |
| Lakshmimach | L29269TZ1962PLC000463 | Coimbatore, Tamil Nadu, India |
| Smlrefinery | U27109GJ2012PLC069162 | Ahmedabad, Gujarat, India |
| Jaquar | U52110HR1983PTC140256 | Nsg Camp Manesar, Haryana, India |
12
Who Uses This Report
CA · CS · Banker · Investor · VendorChartered Accountants (CA)
Verify Transrail before audits and certifications: compliance score 72/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.
Company Secretaries (CS)
Track statutory health of Transrail: ACTIVE compliance status, annual-return recency, director DIN status, board churn and the events timeline - the inputs for secretarial audits and due-diligence certificates.
Bankers & NBFCs
Current banker verdict: Favourable lending indicators. Credit risk score 55/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.
Investors & Analysts
Investor view: Positive growth indicators. Growth score 95/100, margin trends, ownership structure and peer set for Transrail - screening before a deeper diligence.
Vendors & Procurement Teams
Vendor verdict: Favourable indicators. Trust score 77/100, distress signals and MSME payment-delay disclosures - know whether Transrail pays its suppliers before you extend credit terms.
Lawyers & Compliance Teams
Litigation footprint (4 case(s) on record), regulatory flags, charge documents trail and director networks for Transrail - groundwork for KYC, onboarding and disputes.
13
Frequently Asked Questions
Is Transrail an active company?
Transrail has MCA status “Active” with a compliance score of 72/100 (Moderate).
Is Transrail financially healthy?
Transrail has a Financial Health Score of 95/100 (Low Risk) based on its filed financial statements.
Should I do business with Transrail?
Its overall Trust Score is 77/100 (Low Risk). Vendor verdict: Favourable indicators. Review the risk flags in the Risk Intelligence Center before deciding.
Who controls Transrail?
The ultimate holding entity is Ajanma Holdings Private Limited. 15 active director(s) are on record.
Does Transrail have loans or charges against its assets?
12 open charge(s) are registered against its assets, and 10 earlier charge(s) stand satisfied.
Is Transrail up to date with its ROC filings?
Annual filings current (balance sheet Mar 2025). Overall compliance score: 72/100 (Moderate).
Is it risky to lend to Transrail?
Its Credit Risk Score is 55/100 (Moderate). Banker verdict: Favourable lending indicators.
Disclaimer: This report is generated automatically from MCA filings and public records as available
in our system at the time of the last update. Scores, bands and verdicts are rule-based derived indicators of the
underlying data - they are opinions generated by an algorithm, not statements of fact about the company, and are
not credit ratings (within the meaning of SEBI regulations), audits, or investment, legal or financial advice.
Verify from official sources and consult a qualified professional before any business, lending or investment decision.
If you represent this company and believe any information is inaccurate or outdated,
report it here and we will review promptly.
