Oriental Rail Infrastructure Ltd(ORIRAIL)

NSE: ORIRAILBSE: 531859

₹ 114.75+7.34%refreshed 26 Oct, 03:30 pm ISTMarket cap: ₹ 770 crWebsite: www.orientalrail.comUpdated: 27 Oct 2026

About

Oriental Rail Infrastructure makes freight wagons through its unit OFPL, and seats, berths and Rexine upholstery for railway coaches. It reported revenue of Rs 573.35 Cr in FY26. Its consolidated order book was INR1,692 Cr as of August 11, 2026. The company says it holds more than 30% of the market for coach seats and berths.^[1][2]

Business segments

Revenue mix in Q1 FY27: wagons about 75%, seats and berths 16%, Rexine upholstery about 5% and other products 4%.^[2]
Revenue mix in 9M FY26: wagons 68%, seats and berths 24%, Rexine 4% and others 4%.^[3]
Freight wagons (OFPL) brought in about INR106 Cr in Q1 FY27, and rolling stock interiors about INR33 Cr.^[2]

Products

Coach seats and berths are used in premium, express and suburban coaches, including Vande Bharat, Rajdhani and Duronto Express (as of FY26).^[4]
Rexine is sold under the ORVIN brand. Uses include footwear, automotive seating, upholstery and luggage as well as railway coaches (Q3 FY25).^[5]
A 25T high axle-load gondola wagon is being designed with United Wagon Company. Submission to RDSO is expected in Q4 FY27.^[2][4]

Manufacturing capacity

Installed wagon capacity was 2,400 wagons a year in Q1 FY27, and wagon utilisation was about 50% in FY26.^[2]
Capacity at the OFPL Kutch plant was 3,000 bogies a year as of Q3 FY25.^[5]
Rexine (ORVIN) capacity was 60 lakh metres a year as of Q3 FY25.^[5]
Coach interiors capacity was 3,600 coach sets a year as of FY26.^[4]
A spring plant began operating in FY25-26. Springs, draft gears and couplers are now almost 100% made in-house.^[2]

Key operating numbers

Wagon output was about 300 wagons in Q1 FY27, and the target for Q2 FY27 is about 500 wagons.^[2]
The average wagon realisation was about INR40 lakhs per wagon in Q1 FY27.^[2]
Order book: INR1,692 Cr as of Aug 11, 2026, compared with about Rs 1,740 Cr as of May 27, 2026 and Rs 1,960 Cr in Q3 FY26.^[2][4][3]
The wagon order book was INR1,526 Cr (about 3,800 wagons) as of Aug 11, 2026. The coach interiors order book was INR166 Cr.^[2]
Book-to-bill was about 3.3x in FY26.^[4]
OFPL built 1,052 wagons between Apr'24 and Jan'25, a 5% share among private makers.^[5]

Customers and market position

The company has more than 30% of the coach seat and berth market as of Q1 FY27, and about 30% of the organised Indian Railways segment as of FY26.^[2][4]
Coach interior customers include Indian Railways' Integral Coach Factory in Chennai and Modern Coach Factory in Raebareli (Sep 2026).^[6][7]

Expansion and capex

Production is planned to reach 200 wagons a month (full 2,400 a year) from Q3 FY27.^[2]
Work to expand capacity from 2,400 to 3,600 wagons a year is set to start in Q1 FY28, at a capex of about INR60-70 Cr. A later phase would reach 4,800 within 12-18 months of starting.^[2]
A dedicated smart wagon component plant in North India is planned by the end of FY28.^[2]

New businesses and joint ventures

A 51:49 JV with HUM Industrial (USA) makes on-board condition monitoring for wagons. Financial bids for RDSO's tender for 400 smart wagons were due to open at the end of August 2026.^[2]
The Railway Board has given in-principle approval for wagon leasing, and the company has taken part in leasing tenders (as of Q1 FY27).^[2][4]
A JV with AB Composites will offer turnkey furnishing for passenger coaches (announced Q1 FY27).^[2]

Recent developments

Sep 23, 2026: an order worth Rs. 3,63,91,200.00 from ICF Chennai for 40 coach sets of chairs, due by Nov 08, 2026.^[6]
Sep 28, 2026: an order worth Rs. 1,64,99,704.00 from MCF Raebareli for 26 sets of seats for LHB GS coaches, due by Nov 28, 2026.^[7]
Fuel and gas supply disruption in March-April 2026, linked to the US-Iran war, affected Q1 FY27 output.^[2]

Market Cap

₹770 Cr

High / Low

₹181 / 101

Stock P/E

14.0

Price / Book

1.6

Book Value

₹63

EPS

₹6.3

No. of Shares

6.71 Cr

ROCE

12.3%

ROE

11.0%

OPM

14.2%

Debt / Equity

0.73

Sales

₹573 Cr

Net Profit

₹42 Cr

Promoter holding

57.7%

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