Is the Railways sector outperforming NIFTY 500?
The 52-week sector comparison is unavailable. 2 of 9 covered companies currently have positive Mansfield relative strength versus NIFTY 500.
20-quarter listed-company comparison
Railways Stocks in India
Railways: Indian Railway Finance Corporation Ltd owns the largest revenue base; Cosmic CRF Ltd has the fastest current growth.
Nifty Railways Index — Constituents & Performance
The Railways companies below are the listed Indian Railways universe this page tracks — the same constituent set people search for as the Nifty Railways index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.
The sector itself · before any single company
How has Railways moved against NIFTY 500?
The line below covers 5.1 years. Over the most recent two of them this sector is 48% behind NIFTY 500. Earnings across its companies grew 2% on average over the last four reported quarters — close to flat.
FADING · −2 in 4w✓Price down, no fundamental support3 of 9 companies ahead of NIFTY 500 by 5% or more over three months2 are 20% or more behind over a year while earnings grew 20% or more
RS ↑1w · 2/9 >200d (+0) · 3/9 lead (−2) · EPS 7/9↑
Railways, equal-weighted, based at 200
NIFTY 500, same base, same start
trailing 12-month earnings per share rising
falling
Strength anatomy
MixedHow much of the sector is participating, how recently, and whether the movers score well.
Together3 of 9 stocks moving
Fresh0 crossed in the last 4 weeks
Backed by scoresmovers score +6 vs the sector average
Down the cap ladder — bar is now, tick is four weeks ago
Large
0/20
Mid
1/30
Small
2/4−2
Participation is not spreading downward this month; the larger companies are still carrying most of it.
Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 9 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.
Sector relative strength · before individual stocks
Is Railways outperforming NIFTY 500?
The 52-week comparison of Railways against NIFTY 500 is not available from the current market series. 2 of 9 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is broad. Cosmic CRF Ltd is the strongest against the sector itself at +25.3%. Readings are as of 2026-07-19.
—Sector vs NIFTY 500 · 13 weeks
—Sector vs NIFTY 500 · 52 weeks
2/9Stocks leading NIFTY 500
7/9Stocks leading sector
Sector metric: 34.4 as of 2026-07-19 · LEADERS · rising.
The central tension: the companies with the most scale are not necessarily the companies creating the most change.
Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.
Bottom line
The 52-week sector comparison is unavailable. 2 of 9 covered companies currently have positive Mansfield relative strength versus NIFTY 500. Indian Railway Finance Corporation Ltd leads with revenue of ₹27,284 crore, based on 9 of 9 comparable companies through Mar 2026. Cosmic CRF Ltd has the fastest current revenue growth at 100%, across 9 of 9 comparable companies.
Which Railways company is largest by revenue?
Indian Railway Finance Corporation Ltd leads with revenue of ₹27,284 crore, based on 9 of 9 comparable companies through Mar 2026.
Which Railways company is growing fastest?
Cosmic CRF Ltd has the fastest current revenue growth at 100%, across 9 of 9 comparable companies.
Which Railways company has the strongest 4-Factor Sector Score?
Cosmic CRF Ltd ranks first at 68.4/100 with 59.6% evidence confidence. The score prioritizes research; it is not a buy recommendation.
Which Railways company reports the most CAPEX?
Indian Railway Finance Corporation Ltd reports the largest latest CAPEX at ₹10 crore, with 1 of 9 companies comparable.
Which Railways company has the least gross debt?
Rites Ltd has the lowest comparable gross debt at ₹7 crore. Indian Railway Finance Corporation Ltd has the highest at ₹4,36,471 crore.
Which Railways company has the lowest comparable PEG?
Texmaco Rail & Engineering Ltd has the lowest comparable Guarded PEG at 0.81, among 7 of 9 companies that pass the metric’s comparability rules.
How much history does this Railways comparison include?
The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Mar 2026. Missing observations remain blank rather than being estimated.
How is the 4-Factor Sector Score calculated?
The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.
Companies
9
complete canonical membership
Combined market value
₹2.0 L Cr
Indian Railway Finance Corporation Ltd
Revenue growing
5/9
positive TTM year-on-year growth
Beating NIFTY 500
2/9
positive Mansfield relative strength
Global company selection
00 · research priority, made explicit
4-Factor Sector Score
An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.
Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Cosmic CRF Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 59.6% evidence confidence.
Texmaco Rail & Engineering Ltd looks inexpensive relative to peers or its own history, but its earnings trajectory has not yet earned the valuation signal.
Titagarh Rail Systems Ltd has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.
1. Cosmic CRF Ltd · 543928
68.4/100 · Thin evidence · provisional · 60% evidence
Exact sum: 23.8 + 13.8 + 10.8 + 20 = 68.4
Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
23.8/35Growth & earnings
Revenue 100% · PAT 100% · OPM change 0 pp
48% evidence
13.8/25Capital efficiency
ROCE 13.6% · debt/equity 0.3×
80% evidence
10.8/20Valuation
P/E 22.3× · PEG —
15% evidence
20.0/20Relative strength
RS sector 25.3% · RS bench 23.5% · 1Y -14.6%
100% evidence
2. Railtel Corporation of India Ltd · RAILTEL
59.9/100 · Mixed-positive evidence · 94% evidence
Exact sum: 22.1 + 17.1 + 10.7 + 10 = 59.9
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
22.1/35Growth & earnings
Revenue 31.7% · PAT 6.5% · OPM change 0.4 pp
100% evidence
17.1/25Capital efficiency
ROCE 16.2% · debt/equity 0.03×
100% evidence
10.7/20Valuation
P/E 48.7× · PEG 1.76
100% evidence
10.0/20Relative strength
RS sector 5.3% · RS bench -11.7% · 1Y -26.7%
70% evidence
3. Rites Ltd · RITES
56.7/100 · Mixed-positive evidence · 94% evidence
Exact sum: 14.3 + 22.7 + 6.7 + 13 = 56.7
Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
14.3/35Growth & earnings
Revenue 9.6% · PAT 7.6% · OPM change -9 pp
100% evidence
22.7/25Capital efficiency
ROCE 22% · debt/equity 0×
100% evidence
6.7/20Valuation
P/E 25× · PEG 2.34
100% evidence
13.0/20Relative strength
RS sector 7.4% · RS bench -5.8% · 1Y -20.7%
70% evidence
4. Titagarh Rail Systems Ltd · TITAGARH
50.7/100 · Mixed-positive evidence · 89% evidence
Exact sum: 13.9 + 10.6 + 9.5 + 16.7 = 50.7
Decision use: Price leads the evidence: RS versus the benchmark is 5.1%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
13.9/35Growth & earnings
Revenue -17.7% · PAT 92% · OPM change 9 pp
71% evidence
10.6/25Capital efficiency
ROCE 10.6% · debt/equity 0.25×
95% evidence
9.5/20Valuation
P/E 69.1× · PEG 1.69
100% evidence
16.7/20Relative strength
RS sector 6.2% · RS bench 5.1% · 1Y -7.1%
100% evidence
5. Indian Railway Catering & Tourism Corporation Ltd · IRCTC
49.2/100 · Mixed-negative evidence · 87% evidence
Exact sum: 12.7 + 21.8 + 6.5 + 8.2 = 49.2
Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
12.7/35Growth & earnings
Revenue 11.5% · PAT 5.9% · OPM change -3 pp
100% evidence
21.8/25Capital efficiency
ROCE 46.1% · debt/equity 0.02×
100% evidence
6.5/20Valuation
P/E 28.7× · PEG 2.43
65% evidence
8.2/20Relative strength
RS sector 4.2% · RS bench -19.6% · 1Y -33.7%
70% evidence
6. Texmaco Rail & Engineering Ltd · TEXRAIL
47.4/100 · Mixed-negative evidence · 93% evidence
Exact sum: 13.7 + 9.6 + 15.2 + 8.9 = 47.4
Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
13.7/35Growth & earnings
Revenue -14.3% · PAT -22.2% · OPM change 2 pp
100% evidence
9.6/25Capital efficiency
ROCE 11.4% · debt/equity 0.38×
100% evidence
15.2/20Valuation
P/E 22.7× · PEG 0.81
65% evidence
8.9/20Relative strength
RS sector -4.7% · RS bench -5.9% · 1Y -27.2%
100% evidence
7. Oriental Rail Infrastructure Ltd · 531859
45.8/100 · Mixed-negative evidence · 76% evidence
Exact sum: 23.9 + 10.8 + 11.1 + 0 = 45.8
Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -21.7% and the one-year return is -35%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
23.9/35Growth & earnings
Revenue -4.8% · PAT 48.3% · OPM change 3 pp
95% evidence
10.8/25Capital efficiency
ROCE 12.2% · debt/equity 0.73×
80% evidence
11.1/20Valuation
P/E 17.4× · PEG —
15% evidence
0.0/20Relative strength
RS sector -21.7% · RS bench -22.5% · 1Y -35%
100% evidence
8. Indian Railway Finance Corporation Ltd · IRFC
44.1/100 · Mixed-negative evidence · 85% evidence
Exact sum: 16.6 + 6 + 11.3 + 10.2 = 44.1
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
16.6/35Growth & earnings
Revenue 0.5% · PAT 7.8% · OPM change -0.9 pp
74% evidence
6.0/25Capital efficiency
ROCE 5.6% · debt/equity 7.69×
100% evidence
11.3/20Valuation
P/E 16.3× · PEG 2.39
100% evidence
10.2/20Relative strength
RS sector 7.1% · RS bench -21.7% · 1Y -33.9%
70% evidence
9. Jupiter Wagons Ltd · JWL
22.5/100 · Adverse evidence · 94% evidence
Exact sum: 2.1 + 7 + 0.9 + 12.5 = 22.5
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2.1/35Growth & earnings
Revenue -26.5% · PAT -56.6% · OPM change -4 pp
100% evidence
7.0/25Capital efficiency
ROCE 9.2% · debt/equity 0.33×
100% evidence
0.9/20Valuation
P/E 57.5× · PEG 3.78
100% evidence
12.5/20Relative strength
RS sector 8.4% · RS bench -15.4% · 1Y -30.6%
70% evidence
01 · compare level, then change
Revenue Scale & Growth Durability
Indian Railway Finance Corporation Ltd has the highest Revenue among the 9 Railways companies compared here, at ₹27,284 crore. Indian Railway Catering & Tourism Corporation Ltd is next at ₹5,215 crore. Cosmic CRF Ltd has the highest Revenue growth at the 100% top of the scoring scale, so level and change sit with different companies.
What the numbers say: Indian Railway Finance Corporation Ltd is the scale leader at ₹27,284 crore, 423.2% ahead of Indian Railway Catering & Tourism Corporation Ltd. Cosmic CRF Ltd's growth is stored at the ≥100% scoring cap; the uncapped TTM change is 197.9% from a ₹1,117 crore base, with 8 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.
LeaderIndian Railway Finance Corporation Ltd · ₹27,284 crore
Gap423.2% versus #2 · Indian Railway Catering & Tourism Corporation Ltd
Persistence6/8 recent comparable periods
Coverage9/9 companies · 161 observations
Investor read: Indian Railway Finance Corporation Ltd is the scale benchmark; Cosmic CRF Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.
This conclusion weakens if: Indian Railway Finance Corporation Ltd's growth falls below Cosmic CRF Ltd's for two consecutive comparable reports while operating margin also compresses.
Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
1Indian Railway Finance Corporation Ltd IRFC₹27.3K Cr
2Indian Railway Catering & Tourism Corporation Ltd IRCTC₹5.2K Cr
3Texmaco Rail & Engineering Ltd TEXRAIL₹4.4K Cr
4Titagarh Rail Systems Ltd TITAGARH₹3.2K Cr
5Jupiter Wagons Ltd JWL₹2.9K Cr
Revenue growthfastest growers
1Cosmic CRF Ltd 543928100%
2Railtel Corporation of India Ltd RAILTEL32%
3Indian Railway Catering & Tourism Corporation Ltd IRCTC12%
4Rites Ltd RITES9.6%
5Indian Railway Finance Corporation Ltd IRFC0.5%
Revenue · company comparison
9/9 level · 9/9 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Revenue | Revenue growth | Reported |
|---|---|---|---|
| Indian Railway Finance Corporation Ltd IRFC | ₹7.3K Cr | 9.1% | Mar 2026 |
| Railtel Corporation of India Ltd RAILTEL | ₹1.7K Cr | 28% | Mar 2026 |
| Indian Railway Catering & Tourism Corporation Ltd IRCTC | ₹1.5K Cr | 15% | Mar 2026 |
| Texmaco Rail & Engineering Ltd TEXRAIL | ₹1.2K Cr | -13% | Mar 2026 |
| Titagarh Rail Systems Ltd TITAGARH | ₹875 Cr | -13% | Mar 2026 |
| Jupiter Wagons Ltd JWL | ₹780 Cr | -25% | Mar 2026 |
| Rites Ltd RITES | ₹768 Cr | 28% | Mar 2026 |
| Cosmic CRF Ltd 543928 | ₹412 Cr | 78% | Mar 2026 |
| Oriental Rail Infrastructure Ltd 531859 | ₹153 Cr | 9.3% | Mar 2026 |
Full 20-quarter history · every available company
Revenue · reported quarter history
Cosmic CRF Ltd · 543928
—
—
—
—
—
₹13 Cr
—
₹109 Cr
—
₹123 Cr
—
₹130 Cr
—
₹169 Cr
—
₹232 Cr
—
₹304 Cr
—
₹412 Cr
Indian Railway Catering & Tourism Corporation Ltd · IRCTC
₹243 Cr
₹405 Cr
₹540 Cr
₹690 Cr
₹853 Cr
₹806 Cr
₹918 Cr
₹965 Cr
₹1.0K Cr
₹991 Cr
₹1.1K Cr
₹1.2K Cr
₹1.1K Cr
₹1.1K Cr
₹1.2K Cr
₹1.3K Cr
₹1.2K Cr
₹1.1K Cr
₹1.4K Cr
₹1.5K Cr
Indian Railway Finance Corporation Ltd · IRFC
₹4.6K Cr
₹4.7K Cr
₹97 Cr
₹5.9K Cr
₹5.6K Cr
₹5.8K Cr
₹6.2K Cr
₹6.2K Cr
₹6.7K Cr
₹6.8K Cr
₹6.7K Cr
₹6.5K Cr
₹6.8K Cr
₹6.9K Cr
₹6.8K Cr
₹6.7K Cr
₹6.9K Cr
₹6.4K Cr
₹6.7K Cr
₹7.3K Cr
Jupiter Wagons Ltd · JWL
₹56 Cr
₹96 Cr
₹116 Cr
₹911 Cr
₹295 Cr
₹417 Cr
₹644 Cr
₹712 Cr
₹753 Cr
₹879 Cr
₹896 Cr
₹1.1K Cr
₹880 Cr
₹1.0K Cr
₹1.0K Cr
₹1.0K Cr
₹459 Cr
₹786 Cr
₹890 Cr
₹780 Cr
Oriental Rail Infrastructure Ltd · 531859
—
—
—
—
—
—
₹106 Cr
₹120 Cr
₹93 Cr
₹115 Cr
₹147 Cr
₹172 Cr
₹123 Cr
₹186 Cr
₹153 Cr
₹140 Cr
₹118 Cr
₹133 Cr
₹169 Cr
₹153 Cr
Railtel Corporation of India Ltd · RAILTEL
₹307 Cr
₹358 Cr
₹418 Cr
₹466 Cr
₹377 Cr
₹429 Cr
₹454 Cr
₹704 Cr
₹468 Cr
₹599 Cr
₹668 Cr
₹833 Cr
₹558 Cr
₹843 Cr
₹768 Cr
₹1.3K Cr
₹744 Cr
₹951 Cr
₹913 Cr
₹1.7K Cr
Rites Ltd · RITES
₹355 Cr
₹755 Cr
₹775 Cr
₹766 Cr
₹605 Cr
₹659 Cr
₹677 Cr
₹687 Cr
₹544 Cr
₹582 Cr
₹683 Cr
₹643 Cr
₹486 Cr
₹541 Cr
₹576 Cr
₹602 Cr
₹490 Cr
₹549 Cr
₹609 Cr
₹768 Cr
Texmaco Rail & Engineering Ltd · TEXRAIL
₹331 Cr
₹374 Cr
₹470 Cr
₹447 Cr
₹299 Cr
₹484 Cr
₹625 Cr
₹835 Cr
₹657 Cr
₹805 Cr
₹896 Cr
₹1.1K Cr
₹1.1K Cr
₹1.3K Cr
₹1.3K Cr
₹1.3K Cr
₹911 Cr
₹1.3K Cr
₹1.0K Cr
₹1.2K Cr
Titagarh Rail Systems Ltd · TITAGARH
₹507 Cr
₹460 Cr
₹483 Cr
—
₹529 Cr
₹607 Cr
₹766 Cr
₹974 Cr
₹911 Cr
₹935 Cr
₹955 Cr
₹1.1K Cr
₹903 Cr
₹1.1K Cr
₹902 Cr
₹1.0K Cr
₹679 Cr
₹799 Cr
₹832 Cr
₹875 Cr
Revenue growth · reported quarter history
Cosmic CRF Ltd · 543928
—
—
—
—
—
—
—
—
—
846%
—
19%
—
37%
—
78%
—
80%
—
78%
Indian Railway Catering & Tourism Corporation Ltd · IRCTC
—
—
—
—
251%
99%
70%
40%
17%
23%
22%
20%
12%
7.4%
9.6%
9.9%
3.8%
7.7%
18%
15%
Indian Railway Finance Corporation Ltd · IRFC
—
—
—
—
23%
24%
6,310%
4.4%
19%
16%
8.4%
4.5%
1.3%
2.1%
0.4%
3.8%
2.2%
-7.7%
-1.5%
9.1%
Jupiter Wagons Ltd · JWL
—
—
—
—
427%
334%
455%
-22%
155%
111%
39%
57%
17%
15%
15%
-6.3%
-48%
-22%
-14%
-25%
Oriental Rail Infrastructure Ltd · 531859
—
—
—
—
—
—
—
—
—
—
39%
43%
32%
62%
4.1%
-19%
-4.1%
-28%
10%
9.3%
Railtel Corporation of India Ltd · RAILTEL
—
27%
1.7%
8.4%
23%
20%
8.6%
51%
24%
40%
47%
18%
19%
41%
15%
57%
33%
13%
19%
28%
Rites Ltd · RITES
—
—
—
—
70%
-13%
-13%
-10%
-10%
-12%
0.9%
-6.4%
-11%
-7.0%
-16%
-6.4%
0.8%
1.5%
5.7%
28%
Texmaco Rail & Engineering Ltd · TEXRAIL
—
—
—
—
-9.7%
29%
33%
87%
120%
66%
43%
37%
66%
67%
48%
18%
-16%
-6.5%
-21%
-13%
Titagarh Rail Systems Ltd · TITAGARH
—
—
—
—
4.3%
32%
59%
—
72%
54%
25%
8.0%
-0.9%
13%
-5.6%
-4.4%
-25%
-24%
-7.8%
-13%
02 · compare level, then change
Operating Economics & Margin Trend
Indian Railway Finance Corporation Ltd has the highest OPM among the 9 Railways companies compared here, at 98.4%. Indian Railway Catering & Tourism Corporation Ltd is next at 27%. Titagarh Rail Systems Ltd has the highest Margin change at +9 percentage points, so level and change sit with different companies.
What the numbers say: Indian Railway Finance Corporation Ltd leads opm at 98.4%; Titagarh Rail Systems Ltd leads margin change at +9 percentage points.
LeaderIndian Railway Finance Corporation Ltd · 98.4%
Gap264.4% versus #2 · Indian Railway Catering & Tourism Corporation Ltd
Persistence0/8 recent comparable periods
Coverage9/9 companies · 168 observations
Investor read: Indian Railway Finance Corporation Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current margin change signal.
Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
1Indian Railway Finance Corporation Ltd IRFC98%
2Indian Railway Catering & Tourism Corporation Ltd IRCTC27%
3Rites Ltd RITES22%
4Oriental Rail Infrastructure Ltd 53185915%
5Railtel Corporation of India Ltd RAILTEL11%
Margin changefastest expanders
1Titagarh Rail Systems Ltd TITAGARH+9.0 pp
2Oriental Rail Infrastructure Ltd 531859+3.0 pp
3Texmaco Rail & Engineering Ltd TEXRAIL+2.0 pp
4Railtel Corporation of India Ltd RAILTEL+0.4 pp
5Cosmic CRF Ltd 5439280.0 pp
Operating margin · company comparison
9/9 level · 9/9 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | OPM | Margin change | Reported |
|---|---|---|---|
| Indian Railway Finance Corporation Ltd IRFC | 98% | −1.0 pp | Mar 2026 |
| Indian Railway Catering & Tourism Corporation Ltd IRCTC | 27% | −3.0 pp | Mar 2026 |
| Rites Ltd RITES | 22% | −9.0 pp | Mar 2026 |
| Oriental Rail Infrastructure Ltd 531859 | 15% | +3.0 pp | Mar 2026 |
| Titagarh Rail Systems Ltd TITAGARH | 11% | +9.0 pp | Mar 2026 |
| Railtel Corporation of India Ltd RAILTEL | 11% | +0.4 pp | Mar 2026 |
| Cosmic CRF Ltd 543928 | 10% | 0.0 pp | Mar 2026 |
| Jupiter Wagons Ltd JWL | 10% | −4.0 pp | Mar 2026 |
| Texmaco Rail & Engineering Ltd TEXRAIL | 9.0% | +2.0 pp | Mar 2026 |
Full 20-quarter history · every available company
OPM · reported quarter history
Cosmic CRF Ltd · 543928
—
—
—
—
—
10%
—
10%
—
9.0%
—
8.0%
—
13%
—
10%
—
12%
—
10%
Indian Railway Catering & Tourism Corporation Ltd · IRCTC
46%
52%
52%
40%
38%
38%
35%
34%
34%
37%
35%
31%
34%
35%
34%
30%
34%
35%
32%
27%
Indian Railway Finance Corporation Ltd · IRFC
100%
99%
100%
99%
100%
99%
100%
99%
100%
100%
99%
99%
100%
99%
99%
99%
99%
99%
98%
98%
Jupiter Wagons Ltd · JWL
9.8%
14%
7.5%
8.6%
10%
12%
12%
13%
13%
14%
14%
13%
16%
14%
14%
14%
13%
13%
13%
10%
Oriental Rail Infrastructure Ltd · 531859
16%
18%
17%
19%
24%
21%
8.0%
-5.0%
14%
15%
16%
7.0%
11%
12%
11%
12%
12%
16%
15%
15%
Railtel Corporation of India Ltd · RAILTEL
19%
31%
17%
21%
18%
23%
16%
14%
16%
19%
12%
15%
12%
11%
10%
11%
9.7%
11%
9.3%
11%
Rites Ltd · RITES
27%
30%
25%
27%
30%
27%
29%
28%
30%
24%
25%
27%
22%
20%
20%
31%
23%
24%
23%
22%
Texmaco Rail & Engineering Ltd · TEXRAIL
11%
10%
7.8%
6.3%
-3.1%
9.0%
9.0%
7.0%
3.0%
9.0%
9.0%
7.0%
10%
10%
10%
7.0%
8.0%
10%
9.0%
9.0%
Titagarh Rail Systems Ltd · TITAGARH
8.8%
11%
11%
11%
9.3%
8.8%
9.0%
9.0%
12%
12%
12%
11%
11%
12%
10%
2.0%
9.0%
9.0%
11%
11%
Margin change · reported quarter history
Cosmic CRF Ltd · 543928
—
—
—
—
—
—
—
—
—
−1.0 pp
—
−2.0 pp
—
+4.0 pp
—
+2.0 pp
—
−1.0 pp
—
0.0 pp
Indian Railway Catering & Tourism Corporation Ltd · IRCTC
+79.2 pp
+58.5 pp
+9.5 pp
−2.5 pp
−8.2 pp
−14.4 pp
−16.2 pp
−6.3 pp
−3.6 pp
−0.8 pp
−0.5 pp
−3.0 pp
0.0 pp
−2.0 pp
−1.0 pp
−1.0 pp
0.0 pp
0.0 pp
−2.0 pp
−3.0 pp
Indian Railway Finance Corporation Ltd · IRFC
+0.9 pp
−0.1 pp
+0.0 pp
−0.3 pp
−0.3 pp
+0.0 pp
−0.3 pp
+0.6 pp
−0.0 pp
+0.1 pp
−0.0 pp
+0.2 pp
−0.0 pp
−0.1 pp
−0.1 pp
−0.1 pp
−0.2 pp
−0.2 pp
−1.0 pp
−1.0 pp
Jupiter Wagons Ltd · JWL
+5.6 pp
+7.6 pp
+1.2 pp
+0.2 pp
+0.2 pp
−1.8 pp
+4.5 pp
+4.4 pp
+3.0 pp
+2.2 pp
+2.0 pp
0.0 pp
+3.0 pp
0.0 pp
0.0 pp
+1.0 pp
−3.0 pp
−1.0 pp
−1.0 pp
−4.0 pp
Oriental Rail Infrastructure Ltd · 531859
−3.8 pp
+3.8 pp
+3.6 pp
+5.8 pp
+8.8 pp
+2.9 pp
−8.8 pp
−23.8 pp
−10.3 pp
−5.8 pp
+8.0 pp
+12.0 pp
−3.0 pp
−3.0 pp
−5.0 pp
+5.0 pp
+1.0 pp
+4.0 pp
+4.0 pp
+3.0 pp
Railtel Corporation of India Ltd · RAILTEL
−3.6 pp
+5.0 pp
−13.0 pp
+4.0 pp
−1.0 pp
−8.0 pp
−1.0 pp
−7.0 pp
−2.0 pp
−4.0 pp
−4.3 pp
+0.9 pp
−4.2 pp
−8.4 pp
−1.5 pp
−4.3 pp
−2.1 pp
+0.7 pp
−0.9 pp
+0.4 pp
Rites Ltd · RITES
+9.4 pp
+0.5 pp
−4.1 pp
−1.6 pp
+2.3 pp
−2.1 pp
+3.8 pp
+1.3 pp
+0.4 pp
−3.5 pp
−4.0 pp
−1.0 pp
−8.0 pp
−4.0 pp
−5.0 pp
+4.0 pp
+1.0 pp
+4.0 pp
+3.0 pp
−9.0 pp
Texmaco Rail & Engineering Ltd · TEXRAIL
+17.6 pp
+1.8 pp
−3.1 pp
−1.7 pp
−14.2 pp
−1.4 pp
+1.2 pp
+0.7 pp
+6.1 pp
+0.1 pp
0.0 pp
0.0 pp
+7.0 pp
+1.0 pp
+1.0 pp
0.0 pp
−2.0 pp
0.0 pp
−1.0 pp
+2.0 pp
Titagarh Rail Systems Ltd · TITAGARH
+7.6 pp
+4.1 pp
+5.2 pp
+6.2 pp
+0.6 pp
−2.4 pp
−2.3 pp
−1.9 pp
+2.7 pp
+3.2 pp
+3.0 pp
+2.0 pp
−1.0 pp
0.0 pp
−2.0 pp
−9.0 pp
−2.0 pp
−3.0 pp
+1.0 pp
+9.0 pp
03 · compare level, then change
Profit Scale & Acceleration
Indian Railway Finance Corporation Ltd has the highest Net profit among the 9 Railways companies compared here, at ₹7,009 crore. Indian Railway Catering & Tourism Corporation Ltd is next at ₹1,393 crore. Cosmic CRF Ltd has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.
What the numbers say: Indian Railway Finance Corporation Ltd leads with ₹7,009 crore of TTM profit, 403.2% above Indian Railway Catering & Tourism Corporation Ltd. Cosmic CRF Ltd shows ≥100% on the scoring scale (295% uncapped) growth from a ₹79 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.
LeaderIndian Railway Finance Corporation Ltd · ₹7,009 crore
Gap403.2% versus #2 · Indian Railway Catering & Tourism Corporation Ltd
Persistence7/8 recent comparable periods
Coverage9/9 companies · 161 observations
Investor read: Indian Railway Finance Corporation Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.
Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
1Indian Railway Finance Corporation Ltd IRFC₹7.0K Cr
2Indian Railway Catering & Tourism Corporation Ltd IRCTC₹1.4K Cr
3Rites Ltd RITES₹454 Cr
4Railtel Corporation of India Ltd RAILTEL₹214 Cr
5Texmaco Rail & Engineering Ltd TEXRAIL₹193 Cr
Profit growthfastest growers
1Cosmic CRF Ltd 543928100%
2Oriental Rail Infrastructure Ltd 53185948%
3Indian Railway Finance Corporation Ltd IRFC7.8%
4Rites Ltd RITES7.6%
5Railtel Corporation of India Ltd RAILTEL6.5%
Net profit · company comparison
9/9 level · 8/9 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Net profit | Profit growth | Reported |
|---|---|---|---|
| Indian Railway Finance Corporation Ltd IRFC | ₹1.7K Cr | 0.1% | Mar 2026 |
| Indian Railway Catering & Tourism Corporation Ltd IRCTC | ₹326 Cr | -8.9% | Mar 2026 |
| Railtel Corporation of India Ltd RAILTEL | ₹142 Cr | 26% | Mar 2026 |
| Rites Ltd RITES | ₹139 Cr | -1.4% | Mar 2026 |
| Texmaco Rail & Engineering Ltd TEXRAIL | ₹58 Cr | 49% | Mar 2026 |
| Titagarh Rail Systems Ltd TITAGARH | ₹54 Cr | -29% | Mar 2026 |
| Jupiter Wagons Ltd JWL | ₹27 Cr | -74% | Mar 2026 |
| Cosmic CRF Ltd 543928 | ₹26 Cr | 136% | Mar 2026 |
| Oriental Rail Infrastructure Ltd 531859 | ₹12 Cr | 140% | Mar 2026 |
Full 20-quarter history · every available company
Net profit · reported quarter history
Cosmic CRF Ltd · 543928
—
—
—
—
—
₹1 Cr
—
₹6 Cr
—
₹7 Cr
—
₹6 Cr
—
₹18 Cr
—
₹11 Cr
—
₹24 Cr
—
₹26 Cr
Indian Railway Catering & Tourism Corporation Ltd · IRCTC
₹83 Cr
₹159 Cr
₹209 Cr
₹210 Cr
₹246 Cr
₹226 Cr
₹256 Cr
₹279 Cr
₹232 Cr
₹295 Cr
₹300 Cr
₹284 Cr
₹308 Cr
₹308 Cr
₹341 Cr
₹358 Cr
₹331 Cr
₹342 Cr
₹394 Cr
₹326 Cr
Indian Railway Finance Corporation Ltd · IRFC
₹1.5K Cr
₹1.5K Cr
₹1.6K Cr
₹1.5K Cr
₹1.7K Cr
₹1.7K Cr
₹1.6K Cr
₹1.3K Cr
₹1.6K Cr
₹1.5K Cr
₹1.6K Cr
₹1.7K Cr
₹1.6K Cr
₹1.6K Cr
₹1.6K Cr
₹1.7K Cr
₹1.7K Cr
₹1.8K Cr
₹1.8K Cr
₹1.7K Cr
Jupiter Wagons Ltd · JWL
₹-4 Cr
₹2 Cr
₹2 Cr
₹49 Cr
₹13 Cr
₹24 Cr
₹45 Cr
₹39 Cr
₹63 Cr
₹82 Cr
₹81 Cr
₹105 Cr
₹92 Cr
₹89 Cr
₹96 Cr
₹103 Cr
₹31 Cr
₹45 Cr
₹62 Cr
₹27 Cr
Oriental Rail Infrastructure Ltd · 531859
—
—
—
—
—
—
₹2 Cr
₹-8 Cr
₹5 Cr
₹8 Cr
₹13 Cr
₹4 Cr
₹6 Cr
₹10 Cr
₹8 Cr
₹5 Cr
₹6 Cr
₹11 Cr
₹14 Cr
₹12 Cr
Railtel Corporation of India Ltd · RAILTEL
₹21 Cr
₹68 Cr
₹66 Cr
₹54 Cr
₹26 Cr
₹55 Cr
₹32 Cr
₹76 Cr
₹38 Cr
₹68 Cr
₹62 Cr
₹78 Cr
₹49 Cr
₹73 Cr
₹65 Cr
₹113 Cr
₹66 Cr
₹76 Cr
₹62 Cr
₹142 Cr
Rites Ltd · RITES
₹78 Cr
₹174 Cr
₹144 Cr
₹142 Cr
₹145 Cr
₹140 Cr
₹147 Cr
₹139 Cr
₹120 Cr
₹110 Cr
₹129 Cr
₹137 Cr
₹90 Cr
₹82 Cr
₹109 Cr
₹141 Cr
₹91 Cr
₹109 Cr
₹115 Cr
₹139 Cr
Texmaco Rail & Engineering Ltd · TEXRAIL
₹7 Cr
₹6 Cr
₹2 Cr
₹5 Cr
₹-21 Cr
₹15 Cr
₹13 Cr
₹18 Cr
₹13 Cr
₹25 Cr
₹30 Cr
₹45 Cr
₹59 Cr
₹74 Cr
₹76 Cr
₹39 Cr
₹29 Cr
₹64 Cr
₹42 Cr
₹58 Cr
Titagarh Rail Systems Ltd · TITAGARH
₹17 Cr
₹6 Cr
₹1 Cr
—
₹0 Cr
₹45 Cr
₹33 Cr
₹48 Cr
₹62 Cr
₹71 Cr
₹75 Cr
₹79 Cr
₹67 Cr
₹81 Cr
₹63 Cr
₹-124 Cr
₹31 Cr
₹37 Cr
₹45 Cr
₹54 Cr
Profit growth · reported quarter history
Cosmic CRF Ltd · 543928
—
—
—
—
—
—
—
—
—
600%
—
0.0%
—
157%
—
83%
—
33%
—
136%
Indian Railway Catering & Tourism Corporation Ltd · IRCTC
—
—
—
—
196%
42%
22%
33%
-5.7%
31%
17%
1.8%
33%
4.4%
14%
26%
7.5%
11%
16%
-8.9%
Indian Railway Finance Corporation Ltd · IRFC
—
—
—
—
11%
14%
2.5%
-14%
-6.3%
-9.9%
-2.1%
34%
1.3%
4.4%
2.0%
-2.0%
11%
10%
10%
0.1%
Jupiter Wagons Ltd · JWL
—
—
—
—
—
1,100%
2,150%
-20%
385%
242%
80%
169%
46%
8.5%
19%
-1.9%
-66%
-49%
-35%
-74%
Oriental Rail Infrastructure Ltd · 531859
—
—
—
—
—
—
—
—
—
—
550%
—
20%
25%
-38%
25%
0.0%
10%
75%
140%
Railtel Corporation of India Ltd · RAILTEL
—
134%
-5.7%
100%
24%
-19%
-52%
41%
46%
24%
94%
2.6%
29%
7.4%
4.8%
45%
35%
4.1%
-4.6%
26%
Rites Ltd · RITES
—
—
—
—
86%
-20%
2.1%
-2.1%
-17%
-21%
-12%
-1.4%
-25%
-25%
-16%
2.9%
1.1%
33%
5.5%
-1.4%
Texmaco Rail & Engineering Ltd · TEXRAIL
—
—
—
—
-400%
150%
550%
260%
—
67%
131%
150%
354%
196%
153%
-13%
-51%
-14%
-45%
49%
Titagarh Rail Systems Ltd · TITAGARH
—
—
—
—
-100%
650%
3,200%
—
—
58%
127%
65%
8.1%
14%
-16%
-257%
-54%
-54%
-29%
—
04 · compare level, then change
Capacity Spending & Returns On It
Indian Railway Finance Corporation Ltd has the highest CAPEX among the 9 Railways companies compared here, at ₹10 crore. The same company also holds the highest CAPEX intensity, at 0.1%. 1 of 9 companies report a comparable reading, the latest through Mar 2026. Its CAPEX series carries 20 reported observations across the 20-quarter window.
What the numbers say: Indian Railway Finance Corporation Ltd reports ₹10 crore of CAPEX; Indian Railway Finance Corporation Ltd has the highest covered intensity at 0.1%. Coverage is only 1 of 9 companies and 20 reported observations, so this is partial evidence—not a complete sector rank.
LeaderIndian Railway Finance Corporation Ltd · ₹10 crore
GapNot enough peers
Persistence1/8 recent comparable periods
Coverage1/9 companies · 20 observations
Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.
This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.
CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.
CAPEXlargest spenders
1Indian Railway Finance Corporation Ltd IRFC₹10 Cr
CAPEX intensityhighest reinvestment intensity
1Indian Railway Finance Corporation Ltd IRFC0.1%
Capital expenditure · company comparison
1/9 level · 1/9 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | CAPEX | CAPEX intensity | Reported |
|---|---|---|---|
| Indian Railway Finance Corporation Ltd IRFC | ₹10 Cr | 0.1% | Mar 2026 |
Full 20-quarter history · every available company
CAPEX · reported quarter history
Indian Railway Finance Corporation Ltd · IRFC
₹0 Cr
₹1 Cr
₹1 Cr
₹4 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹4 Cr
₹3 Cr
₹1 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹1 Cr
₹3 Cr
₹10 Cr
CAPEX intensity · reported quarter history
Indian Railway Finance Corporation Ltd · IRFC
0.0%
0.0%
1.0%
0.1%
0.0%
0.0%
0.0%
0.0%
0.0%
0.1%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.1%
Annual capital allocation · 10-year view
9/9 capacity base · 9/9 OCF · 9/9 CAPEX · 9/9 FCF
Capacity base is net fixed assets plus capital work in progress, straight off the reported balance sheet. It is not cash spent, so it answers a narrower question than CAPEX — but it is reported for companies whose cash-flow CAPEX is not published, which is why it leads here. Missing years remain blank; annual values are never relabelled as quarters.
Full annual capacity base, operating cash flow, CAPEX and free cash flow history
Capacity base · net fixed assets + CWIP · fiscal-year history
Cosmic CRF Ltd · 543928
—
—
—
—
—
₹0 Cr
₹41 Cr
₹105 Cr
₹150 Cr
₹273 Cr
Indian Railway Catering & Tourism Corporation Ltd · IRCTC
—
—
—
—
—
—
₹385 Cr
₹786 Cr
₹840 Cr
₹881 Cr
Indian Railway Finance Corporation Ltd · IRFC
₹12 Cr
₹11 Cr
₹11 Cr
₹11 Cr
₹45 Cr
₹38 Cr
₹19 Cr
₹26 Cr
₹22 Cr
₹28 Cr
Jupiter Wagons Ltd · JWL
—
—
—
—
₹439 Cr
₹450 Cr
₹491 Cr
₹885 Cr
₹1.0K Cr
₹1.4K Cr
Oriental Rail Infrastructure Ltd · 531859
₹48 Cr
₹71 Cr
₹79 Cr
₹92 Cr
₹95 Cr
₹107 Cr
₹126 Cr
₹125 Cr
₹131 Cr
₹146 Cr
Railtel Corporation of India Ltd · RAILTEL
₹1.1K Cr
₹1.1K Cr
₹1.1K Cr
₹1.0K Cr
₹975 Cr
₹938 Cr
₹978 Cr
—
—
—
Rites Ltd · RITES
₹411 Cr
₹404 Cr
₹482 Cr
₹594 Cr
₹599 Cr
₹618 Cr
₹653 Cr
₹709 Cr
₹932 Cr
₹956 Cr
Texmaco Rail & Engineering Ltd · TEXRAIL
₹372 Cr
₹377 Cr
₹407 Cr
₹444 Cr
₹410 Cr
₹391 Cr
₹440 Cr
₹482 Cr
₹1.1K Cr
₹1.2K Cr
Titagarh Rail Systems Ltd · TITAGARH
₹948 Cr
₹985 Cr
₹971 Cr
₹872 Cr
₹912 Cr
₹1.0K Cr
₹744 Cr
₹922 Cr
₹1.1K Cr
₹1.5K Cr
Operating cash flow · fiscal-year history
Cosmic CRF Ltd · 543928
—
—
—
—
—
₹0 Cr
₹4 Cr
₹-25 Cr
₹-73 Cr
₹24 Cr
Indian Railway Catering & Tourism Corporation Ltd · IRCTC
—
—
—
—
—
₹524 Cr
₹812 Cr
₹882 Cr
₹833 Cr
₹1.3K Cr
Indian Railway Finance Corporation Ltd · IRFC
₹-19.5K Cr
₹-28.1K Cr
₹-41.7K Cr
₹-62.7K Cr
₹-89.9K Cr
₹-64.4K Cr
₹-28.6K Cr
₹7.9K Cr
₹8.2K Cr
₹-27.0K Cr
Jupiter Wagons Ltd · JWL
—
—
—
—
₹67 Cr
₹60 Cr
₹78 Cr
₹-19 Cr
₹104 Cr
₹9 Cr
Oriental Rail Infrastructure Ltd · 531859
₹1 Cr
₹-9 Cr
₹-25 Cr
₹-9 Cr
₹56 Cr
₹2 Cr
₹-44 Cr
₹6 Cr
₹-24 Cr
₹-30 Cr
Railtel Corporation of India Ltd · RAILTEL
—
—
—
₹173 Cr
₹348 Cr
₹250 Cr
₹230 Cr
₹556 Cr
₹255 Cr
₹316 Cr
Rites Ltd · RITES
₹555 Cr
₹410 Cr
₹164 Cr
₹319 Cr
₹516 Cr
₹310 Cr
₹560 Cr
₹432 Cr
₹637 Cr
₹327 Cr
Texmaco Rail & Engineering Ltd · TEXRAIL
₹-34 Cr
₹-175 Cr
₹4 Cr
₹10 Cr
₹40 Cr
₹27 Cr
₹-103 Cr
₹96 Cr
₹-47 Cr
₹363 Cr
Titagarh Rail Systems Ltd · TITAGARH
₹-177 Cr
₹-121 Cr
₹-124 Cr
₹154 Cr
₹68 Cr
₹55 Cr
₹41 Cr
₹86 Cr
₹-97 Cr
₹322 Cr
CAPEX · reported cash flow · fiscal-year history
Cosmic CRF Ltd · 543928
—
—
—
—
—
—
₹42 Cr
₹68 Cr
₹52 Cr
₹134 Cr
Indian Railway Catering & Tourism Corporation Ltd · IRCTC
—
—
—
—
—
—
—
₹458 Cr
₹107 Cr
₹91 Cr
Indian Railway Finance Corporation Ltd · IRFC
₹0 Cr
₹-1 Cr
₹0 Cr
₹0 Cr
₹38 Cr
₹7 Cr
₹-5 Cr
₹16 Cr
₹1 Cr
₹12 Cr
Jupiter Wagons Ltd · JWL
—
—
—
—
—
₹34 Cr
₹66 Cr
₹422 Cr
₹207 Cr
₹414 Cr
Oriental Rail Infrastructure Ltd · 531859
₹14 Cr
₹26 Cr
₹11 Cr
₹17 Cr
₹8 Cr
₹17 Cr
₹26 Cr
₹7 Cr
₹15 Cr
₹24 Cr
Railtel Corporation of India Ltd · RAILTEL
₹196 Cr
₹118 Cr
₹150 Cr
₹83 Cr
₹92 Cr
₹123 Cr
₹194 Cr
—
—
—
Rites Ltd · RITES
₹-61 Cr
₹29 Cr
₹116 Cr
₹159 Cr
₹57 Cr
₹85 Cr
₹102 Cr
₹117 Cr
₹285 Cr
₹90 Cr
Texmaco Rail & Engineering Ltd · TEXRAIL
₹61 Cr
₹30 Cr
₹59 Cr
₹73 Cr
₹3 Cr
₹17 Cr
₹84 Cr
₹80 Cr
₹620 Cr
₹176 Cr
Titagarh Rail Systems Ltd · TITAGARH
₹10 Cr
₹88 Cr
₹10 Cr
₹-70 Cr
₹70 Cr
₹133 Cr
₹-261 Cr
₹205 Cr
₹222 Cr
₹403 Cr
Free cash flow · fiscal-year history
Cosmic CRF Ltd · 543928
—
—
—
—
—
—
₹-38 Cr
₹-93 Cr
₹-125 Cr
₹-110 Cr
Indian Railway Catering & Tourism Corporation Ltd · IRCTC
—
—
—
—
—
—
—
₹424 Cr
₹726 Cr
₹1.2K Cr
Indian Railway Finance Corporation Ltd · IRFC
₹-19.5K Cr
₹-28.1K Cr
₹-41.7K Cr
₹-62.7K Cr
₹-89.9K Cr
₹-64.4K Cr
₹-28.6K Cr
₹7.9K Cr
₹8.2K Cr
₹-27.0K Cr
Jupiter Wagons Ltd · JWL
—
—
—
—
—
₹26 Cr
₹12 Cr
₹-441 Cr
₹-103 Cr
₹-405 Cr
Oriental Rail Infrastructure Ltd · 531859
₹-13 Cr
₹-35 Cr
₹-36 Cr
₹-26 Cr
₹48 Cr
₹-15 Cr
₹-70 Cr
₹-1 Cr
₹-39 Cr
₹-54 Cr
Railtel Corporation of India Ltd · RAILTEL
—
—
—
₹90 Cr
₹256 Cr
₹127 Cr
₹36 Cr
—
—
—
Rites Ltd · RITES
₹616 Cr
₹381 Cr
₹48 Cr
₹160 Cr
₹459 Cr
₹225 Cr
₹458 Cr
₹315 Cr
₹352 Cr
₹237 Cr
Texmaco Rail & Engineering Ltd · TEXRAIL
₹-95 Cr
₹-205 Cr
₹-55 Cr
₹-63 Cr
₹37 Cr
₹10 Cr
₹-187 Cr
₹16 Cr
₹-667 Cr
₹187 Cr
Titagarh Rail Systems Ltd · TITAGARH
₹-187 Cr
₹-209 Cr
₹-134 Cr
₹224 Cr
₹-2 Cr
₹-78 Cr
₹302 Cr
₹-119 Cr
₹-319 Cr
₹-81 Cr
05 · compare level, then change
Debt Load & Balance-Sheet Headroom
Rites Ltd has the lowest Gross debt among the 9 Railways companies compared here, at ₹7 crore. Railtel Corporation of India Ltd is next at ₹64 crore. Indian Railway Catering & Tourism Corporation Ltd has the lowest Net debt at ₹2,787 crore net cash, so level and change sit with different companies.
What the numbers say: Indian Railway Catering & Tourism Corporation Ltd has the clearest covered balance-sheet capacity with ₹2,787 crore net cash and gross debt of ₹81 crore. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.
LeaderRites Ltd · ₹7 crore
Gap89.1% versus #2 · Railtel Corporation of India Ltd
Persistence8/8 recent comparable periods
Coverage9/9 companies · 150 observations
Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.
This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.
Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.
Gross debtlowest gross debt
1Rites Ltd RITES₹7 Cr
2Railtel Corporation of India Ltd RAILTEL₹64 Cr
3Indian Railway Catering & Tourism Corporation Ltd IRCTC₹81 Cr
4Cosmic CRF Ltd 543928₹133 Cr
5Oriental Rail Infrastructure Ltd 531859₹305 Cr
Net debtlowest net debt
1Indian Railway Catering & Tourism Corporation Ltd IRCTC₹-2.8K Cr
2Rites Ltd RITES₹-890 Cr
3Railtel Corporation of India Ltd RAILTEL₹-590 Cr
4Titagarh Rail Systems Ltd TITAGARH₹306 Cr
5Jupiter Wagons Ltd JWL₹345 Cr
Debt and balance-sheet capacity · company comparison
9/9 level · 7/9 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Gross debt | Net debt | Reported |
|---|---|---|---|
| Indian Railway Finance Corporation Ltd IRFC | ₹4.4 L Cr | ₹4.4 L Cr | Mar 2026 |
| Jupiter Wagons Ltd JWL | ₹996 Cr | ₹345 Cr | Mar 2026 |
| Texmaco Rail & Engineering Ltd TEXRAIL | ₹895 Cr | ₹466 Cr | Mar 2026 |
| Titagarh Rail Systems Ltd TITAGARH | ₹623 Cr | ₹306 Cr | Mar 2026 |
| Oriental Rail Infrastructure Ltd 531859 | ₹305 Cr | — | Mar 2026 |
| Cosmic CRF Ltd 543928 | ₹133 Cr | — | Mar 2026 |
| Indian Railway Catering & Tourism Corporation Ltd IRCTC | ₹81 Cr | ₹-2.8K Cr | Mar 2026 |
| Railtel Corporation of India Ltd RAILTEL | ₹64 Cr | ₹-590 Cr | Mar 2026 |
| Rites Ltd RITES | ₹7 Cr | ₹-890 Cr | Mar 2026 |
Full 20-quarter history · every available company
Gross debt · reported quarter history
Cosmic CRF Ltd · 543928
—
—
—
₹12 Cr
—
—
—
₹36 Cr
—
—
—
₹19 Cr
—
—
—
₹78 Cr
—
₹115 Cr
—
₹133 Cr
Indian Railway Catering & Tourism Corporation Ltd · IRCTC
—
₹108 Cr
₹108 Cr
₹105 Cr
₹107 Cr
₹178 Cr
₹178 Cr
₹84 Cr
₹84 Cr
₹67 Cr
₹67 Cr
₹60 Cr
₹60 Cr
₹42 Cr
₹42 Cr
₹90 Cr
₹90 Cr
₹78 Cr
₹78 Cr
₹81 Cr
Indian Railway Finance Corporation Ltd · IRFC
₹3.3 L Cr
₹3.4 L Cr
₹3.7 L Cr
₹3.9 L Cr
₹3.9 L Cr
₹3.9 L Cr
₹4.0 L Cr
₹4.2 L Cr
₹4.1 L Cr
₹4.1 L Cr
₹4.1 L Cr
₹4.1 L Cr
₹4.1 L Cr
₹4.0 L Cr
₹4.1 L Cr
₹4.1 L Cr
₹4.1 L Cr
₹4.1 L Cr
₹4.2 L Cr
₹4.4 L Cr
Jupiter Wagons Ltd · JWL
₹56 Cr
₹67 Cr
₹67 Cr
₹139 Cr
₹139 Cr
₹234 Cr
₹234 Cr
₹288 Cr
₹288 Cr
₹374 Cr
₹374 Cr
₹349 Cr
₹349 Cr
₹450 Cr
₹450 Cr
₹502 Cr
₹502 Cr
₹749 Cr
₹749 Cr
₹996 Cr
Oriental Rail Infrastructure Ltd · 531859
—
—
—
₹178 Cr
—
—
—
₹314 Cr
—
—
—
₹294 Cr
—
—
—
₹282 Cr
—
₹229 Cr
—
₹305 Cr
Railtel Corporation of India Ltd · RAILTEL
—
₹35 Cr
₹35 Cr
₹32 Cr
₹32 Cr
₹30 Cr
₹30 Cr
₹42 Cr
₹42 Cr
₹48 Cr
₹48 Cr
₹46 Cr
₹46 Cr
₹49 Cr
₹49 Cr
₹45 Cr
₹45 Cr
₹71 Cr
₹71 Cr
₹64 Cr
Rites Ltd · RITES
₹29 Cr
₹25 Cr
₹25 Cr
₹28 Cr
₹28 Cr
₹7 Cr
₹7 Cr
₹5 Cr
₹5 Cr
₹5 Cr
₹5 Cr
₹8 Cr
₹8 Cr
₹10 Cr
₹10 Cr
₹9 Cr
₹9 Cr
₹8 Cr
₹8 Cr
₹7 Cr
Texmaco Rail & Engineering Ltd · TEXRAIL
₹763 Cr
₹756 Cr
₹756 Cr
₹710 Cr
₹710 Cr
₹887 Cr
₹887 Cr
₹984 Cr
₹984 Cr
₹1.1K Cr
₹1.1K Cr
₹631 Cr
₹631 Cr
₹938 Cr
₹938 Cr
₹948 Cr
₹948 Cr
₹906 Cr
₹906 Cr
₹895 Cr
Titagarh Rail Systems Ltd · TITAGARH
₹846 Cr
₹868 Cr
₹868 Cr
₹920 Cr
₹920 Cr
₹341 Cr
₹341 Cr
₹353 Cr
₹353 Cr
₹362 Cr
₹362 Cr
₹166 Cr
₹166 Cr
₹498 Cr
₹498 Cr
₹627 Cr
₹627 Cr
₹637 Cr
₹637 Cr
₹623 Cr
Net debt · reported quarter history
Indian Railway Catering & Tourism Corporation Ltd · IRCTC
—
₹-2.0K Cr
₹-2.0K Cr
₹-1.6K Cr
₹-1.6K Cr
₹-1.7K Cr
₹-1.7K Cr
₹-1.8K Cr
₹-1.8K Cr
₹-2.0K Cr
₹-2.0K Cr
₹-2.2K Cr
₹-2.1K Cr
₹-2.4K Cr
₹-2.4K Cr
₹-2.2K Cr
₹-2.2K Cr
₹-2.9K Cr
₹-2.9K Cr
₹-2.8K Cr
Indian Railway Finance Corporation Ltd · IRFC
₹3.3 L Cr
₹3.4 L Cr
₹3.7 L Cr
₹3.9 L Cr
₹3.9 L Cr
₹3.8 L Cr
₹4.0 L Cr
₹4.2 L Cr
₹4.1 L Cr
₹4.0 L Cr
₹4.1 L Cr
₹4.1 L Cr
₹4.1 L Cr
₹3.9 L Cr
₹4.1 L Cr
₹4.1 L Cr
₹4.1 L Cr
₹3.9 L Cr
₹4.2 L Cr
₹4.4 L Cr
Jupiter Wagons Ltd · JWL
₹47 Cr
₹63 Cr
₹63 Cr
₹98 Cr
₹70 Cr
₹196 Cr
₹196 Cr
₹171 Cr
₹121 Cr
₹213 Cr
₹213 Cr
₹173 Cr
₹173 Cr
₹-630 Cr
₹-630 Cr
₹-69 Cr
₹-222 Cr
₹58 Cr
₹58 Cr
₹345 Cr
Railtel Corporation of India Ltd · RAILTEL
—
₹-268 Cr
₹-268 Cr
₹-351 Cr
₹-338 Cr
₹-440 Cr
₹-440 Cr
₹-445 Cr
₹-271 Cr
₹-275 Cr
₹-275 Cr
₹-598 Cr
₹-598 Cr
₹-217 Cr
₹-217 Cr
₹-753 Cr
₹-753 Cr
₹-248 Cr
₹-248 Cr
₹-590 Cr
Rites Ltd · RITES
₹-1.0K Cr
₹-721 Cr
₹-721 Cr
₹-755 Cr
₹-756 Cr
₹-807 Cr
₹-807 Cr
₹-907 Cr
₹-910 Cr
₹-882 Cr
₹-882 Cr
₹-767 Cr
₹-770 Cr
₹-838 Cr
₹-838 Cr
₹-948 Cr
₹-951 Cr
₹-907 Cr
₹-907 Cr
₹-890 Cr
Texmaco Rail & Engineering Ltd · TEXRAIL
₹622 Cr
₹649 Cr
₹649 Cr
₹654 Cr
₹537 Cr
₹728 Cr
₹728 Cr
₹953 Cr
₹831 Cr
₹950 Cr
₹950 Cr
₹304 Cr
₹-67 Cr
₹691 Cr
₹691 Cr
₹803 Cr
₹655 Cr
₹619 Cr
₹619 Cr
₹466 Cr
Titagarh Rail Systems Ltd · TITAGARH
₹722 Cr
₹762 Cr
₹762 Cr
₹878 Cr
₹878 Cr
₹173 Cr
₹173 Cr
₹251 Cr
₹253 Cr
₹192 Cr
₹192 Cr
₹-448 Cr
₹-443 Cr
₹-73 Cr
₹-73 Cr
₹139 Cr
₹160 Cr
₹377 Cr
₹377 Cr
₹306 Cr
06 · compare level, then change
Return On Capital Employed
Indian Railway Catering & Tourism Corporation Ltd has the highest ROCE among the 9 Railways companies compared here, at 46.1%. Rites Ltd is next at 22%. Cosmic CRF Ltd has the highest ROCE change at +5 percentage points, so level and change sit with different companies. 9 of 9 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Indian Railway Catering & Tourism Corporation Ltd leads ROCE at 46.1%, 24.1 percentage points above Rites Ltd. Cosmic CRF Ltd has the strongest latest improvement at +5 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.
LeaderIndian Railway Catering & Tourism Corporation Ltd · 46.1%
Gap109.5% versus #2 · Rites Ltd
Persistence0/8 recent comparable periods
Coverage9/9 companies · 88 observations
Investor read: Indian Railway Catering & Tourism Corporation Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current roce change signal.
ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
1Indian Railway Catering & Tourism Corporation Ltd IRCTC46%
2Rites Ltd RITES22%
3Railtel Corporation of India Ltd RAILTEL16%
4Cosmic CRF Ltd 54392814%
5Oriental Rail Infrastructure Ltd 53185912%
ROCE changefastest improvers
1Cosmic CRF Ltd 543928+5.0 pp
2Oriental Rail Infrastructure Ltd 531859+1.0 pp
3Railtel Corporation of India Ltd RAILTEL+0.8 pp
4Texmaco Rail & Engineering Ltd TEXRAIL+0.2 pp
5Rites Ltd RITES−0.5 pp
Return on capital · company comparison
9/9 level · 8/9 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | ROCE | ROCE change | Reported |
|---|---|---|---|
| Indian Railway Catering & Tourism Corporation Ltd IRCTC | 35% | −2.4 pp | Mar 2026 |
| Railtel Corporation of India Ltd RAILTEL | 18% | +0.8 pp | Mar 2026 |
| Rites Ltd RITES | 15% | −0.5 pp | Mar 2026 |
| Texmaco Rail & Engineering Ltd TEXRAIL | 12% | +0.2 pp | Mar 2026 |
| Titagarh Rail Systems Ltd TITAGARH | 11% | −4.7 pp | Mar 2026 |
| Jupiter Wagons Ltd JWL | 8.8% | −9.7 pp | Mar 2026 |
Full 20-quarter history · every available company
ROCE · reported quarter history
Indian Railway Catering & Tourism Corporation Ltd · IRCTC
—
28%
—
40%
—
45%
—
45%
—
43%
54%
41%
52%
39%
49%
38%
49%
34%
46%
35%
Jupiter Wagons Ltd · JWL
—
64%
—
13%
—
21%
—
27%
—
33%
46%
27%
41%
19%
30%
19%
21%
14%
14%
8.8%
Railtel Corporation of India Ltd · RAILTEL
—
13%
15%
11%
18%
11%
14%
13%
16%
14%
—
16%
—
18%
—
17%
—
16%
—
18%
Rites Ltd · RITES
—
22%
—
23%
—
24%
—
23%
—
21%
23%
20%
21%
17%
19%
16%
20%
15%
20%
15%
Texmaco Rail & Engineering Ltd · TEXRAIL
—
10%
—
6.9%
—
3.8%
—
6.5%
—
9.6%
15%
7.9%
16%
10%
20%
12%
15%
11%
12%
12%
Titagarh Rail Systems Ltd · TITAGARH
—
6.4%
—
—
—
10%
—
20%
—
22%
32%
17%
25%
17%
22%
15%
7.1%
12%
3.7%
11%
ROCE change · reported quarter history
Indian Railway Catering & Tourism Corporation Ltd · IRCTC
—
—
—
—
—
+17.5 pp
—
+5.8 pp
—
−2.9 pp
—
−4.6 pp
—
−4.0 pp
−5.2 pp
−3.2 pp
−3.9 pp
−4.4 pp
−2.9 pp
−2.4 pp
Jupiter Wagons Ltd · JWL
—
—
—
—
—
−42.8 pp
—
+13.8 pp
—
+12.4 pp
—
+0.9 pp
—
−13.9 pp
−15.4 pp
−8.9 pp
−19.8 pp
−5.3 pp
−15.8 pp
−9.7 pp
Railtel Corporation of India Ltd · RAILTEL
—
—
—
—
—
−2.3 pp
−1.7 pp
+1.4 pp
−1.7 pp
+2.6 pp
—
+3.5 pp
—
+4.2 pp
—
+0.5 pp
—
−1.5 pp
—
+0.8 pp
Rites Ltd · RITES
—
—
—
—
—
+1.8 pp
—
−0.6 pp
—
−2.5 pp
—
−2.5 pp
—
−4.3 pp
−4.3 pp
−4.5 pp
−1.4 pp
−1.8 pp
+1.1 pp
−0.5 pp
Texmaco Rail & Engineering Ltd · TEXRAIL
—
—
—
—
—
−6.6 pp
—
−0.4 pp
—
+5.8 pp
—
+1.4 pp
—
+0.8 pp
+4.6 pp
+4.1 pp
−1.6 pp
+1.0 pp
−7.4 pp
+0.2 pp
Titagarh Rail Systems Ltd · TITAGARH
—
—
—
—
—
+3.8 pp
—
—
—
+11.5 pp
—
−2.3 pp
—
−5.0 pp
−10.5 pp
−2.0 pp
−18.1 pp
−4.8 pp
−18.0 pp
−4.7 pp
07 · compare level, then change
Valuation Against Growth & Quality
Texmaco Rail & Engineering Ltd has the lowest Guarded PEG among the 9 Railways companies compared here, at 0.81×. Titagarh Rail Systems Ltd is next at 1.69×. Indian Railway Finance Corporation Ltd has the lowest P/E at 16.3×, so level and change sit with different companies. 7 of 9 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Texmaco Rail & Engineering Ltd has the lowest comparable Guarded PEG at 0.81×, 52.1% below Titagarh Rail Systems Ltd. Only 7 of 9 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.
LeaderTexmaco Rail & Engineering Ltd · 0.81×
Gap52.1% versus #2 · Titagarh Rail Systems Ltd
Persistence0/8 recent comparable periods
Coverage7/9 companies · 49 observations
Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.
This conclusion weakens if: The next two comparable reports reverse the current p/e signal.
PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.
Guarded PEGlowest PEG
1Texmaco Rail & Engineering Ltd TEXRAIL0.8
2Titagarh Rail Systems Ltd TITAGARH1.7
3Railtel Corporation of India Ltd RAILTEL1.8
4Rites Ltd RITES2.3
5Indian Railway Finance Corporation Ltd IRFC2.4
P/Elowest P/E
1Indian Railway Finance Corporation Ltd IRFC16.3
2Oriental Rail Infrastructure Ltd 53185917.4
3Cosmic CRF Ltd 54392822.3
4Texmaco Rail & Engineering Ltd TEXRAIL22.7
5Rites Ltd RITES25.0
Valuation · company comparison
7/9 level · 9/9 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Guarded PEG | P/E | Reported |
|---|---|---|---|
| Jupiter Wagons Ltd JWL | 3.8 | 42.3 | Mar 2026 |
| Indian Railway Catering & Tourism Corporation Ltd IRCTC | 2.4 | 29.5 | Mar 2026 |
| Indian Railway Finance Corporation Ltd IRFC | 2.4 | 17.2 | Mar 2026 |
| Rites Ltd RITES | 2.3 | 21.4 | Mar 2026 |
| Railtel Corporation of India Ltd RAILTEL | 1.8 | 44.6 | Mar 2026 |
| Titagarh Rail Systems Ltd TITAGARH | 1.7 | 59.6 | Mar 2026 |
| Texmaco Rail & Engineering Ltd TEXRAIL | 0.8 | 18.8 | Mar 2026 |
| Oriental Rail Infrastructure Ltd 531859 | — | 20.4 | Mar 2026 |
| Cosmic CRF Ltd 543928 | — | 15.2 | Mar 2026 |
Full 20-quarter history · every available company
Guarded PEG · reported quarter history
Indian Railway Catering & Tourism Corporation Ltd · IRCTC
—
—
—
—
—
1.5
2.5
1.4
—
1.7
3.7
—
2.1
—
3.8
1.8
4.4
4.3
3.8
2.4
Indian Railway Finance Corporation Ltd · IRFC
0.1
0.2
0.1
0.1
0.4
0.2
0.5
0.8
—
—
—
0.7
—
—
3.7
—
—
—
5.1
2.4
Jupiter Wagons Ltd · JWL
—
—
—
—
—
—
—
—
—
—
—
—
—
—
4.5
1.0
3.8
—
—
—
Railtel Corporation of India Ltd · RAILTEL
0.9
—
—
—
0.7
0.4
—
—
—
—
—
—
3.0
12.2
—
1.1
2.1
—
—
1.8
Rites Ltd · RITES
—
—
—
0.5
0.5
0.4
1.1
2.7
3.3
—
—
—
—
—
—
—
—
—
—
2.3
Texmaco Rail & Engineering Ltd · TEXRAIL
—
—
0.6
—
—
—
—
—
—
1.2
—
—
—
—
—
—
—
0.8
—
—
Titagarh Rail Systems Ltd · TITAGARH
—
2.9
—
—
—
—
—
—
—
—
—
0.8
—
1.1
1.7
—
—
—
—
—
P/E · reported quarter history
Cosmic CRF Ltd · 543928
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
43.7
—
15.2
Indian Railway Catering & Tourism Corporation Ltd · IRCTC
110.6
144.7
120.8
94.0
56.0
63.5
54.6
45.6
51.2
51.3
64.2
66.9
68.5
62.1
51.9
47.2
49.0
43.0
42.1
29.5
Indian Railway Finance Corporation Ltd · IRFC
7.7
5.6
5.3
4.8
4.2
4.5
6.6
5.3
6.8
16.1
21.6
31.1
35.4
31.8
29.4
24.9
28.1
23.9
25.6
17.2
Jupiter Wagons Ltd · JWL
—
5.4
7.4
7.9
9.6
13.0
26.1
25.3
55.7
75.1
55.1
56.5
84.6
58.9
56.9
40.2
42.7
44.2
51.4
42.3
Oriental Rail Infrastructure Ltd · 531859
18.1
31.9
40.0
46.5
41.3
36.5
23.3
13.6
80.0
97.5
175.6
74.6
48.2
51.8
56.3
34.9
35.6
32.0
38.4
20.4
Railtel Corporation of India Ltd · RAILTEL
27.1
28.1
20.2
15.7
15.0
16.3
21.2
20.6
25.9
41.2
57.9
62.3
79.7
80.2
68.3
51.8
73.3
64.7
64.8
44.6
Rites Ltd · RITES
15.3
15.2
13.2
12.3
10.7
13.5
14.9
15.6
16.5
23.1
25.1
34.6
36.5
40.4
33.8
28.4
35.0
30.9
29.6
21.4
Texmaco Rail & Engineering Ltd · TEXRAIL
70.6
21.7
20.7
38.9
61.4
64.4
945.0
103.5
97.0
70.0
80.3
65.1
80.4
51.4
38.2
21.1
28.6
25.3
26.5
18.8
Titagarh Rail Systems Ltd · TITAGARH
36.8
49.0
29.4
22.5
15.4
22.1
27.6
27.7
43.3
52.5
60.0
45.3
83.4
55.5
50.8
36.8
56.3
62.9
83.8
59.6
08 · compare level, then change
Enterprise Value & Book Value
Rites Ltd has the lowest EV/EBITDA among the 9 Railways companies compared here, at 8.4×. Cosmic CRF Ltd is next at 8.6×. Oriental Rail Infrastructure Ltd has the lowest P/BV at 1.76×, so level and change sit with different companies. 9 of 9 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Rites Ltd leads ev/ebitda at 8.4×; Oriental Rail Infrastructure Ltd leads p/bv at 1.76×.
LeaderRites Ltd · 8.4×
Gap2.3% versus #2 · Cosmic CRF Ltd
Persistence0/8 recent comparable periods
Coverage9/9 companies · 162 observations
Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.
This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.
EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.
EV/EBITDAlowest EV/EBITDA
1Rites Ltd RITES8.4
2Cosmic CRF Ltd 5439288.6
3Texmaco Rail & Engineering Ltd TEXRAIL9.1
4Oriental Rail Infrastructure Ltd 53185910.1
5Indian Railway Finance Corporation Ltd IRFC10.4
P/BVlowest P/BV
1Oriental Rail Infrastructure Ltd 5318591.8
2Texmaco Rail & Engineering Ltd TEXRAIL1.9
3Indian Railway Finance Corporation Ltd IRFC2.0
4Cosmic CRF Ltd 5439282.5
5Jupiter Wagons Ltd JWL3.5
Enterprise and book valuation · company comparison
9/9 level · 9/9 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | EV/EBITDA | P/BV | Reported |
|---|---|---|---|
| Titagarh Rail Systems Ltd TITAGARH | 26.8 | 3.2 | Mar 2026 |
| Jupiter Wagons Ltd JWL | 23.3 | 3.9 | Mar 2026 |
| Indian Railway Catering & Tourism Corporation Ltd IRCTC | 19.9 | 9.6 | Mar 2026 |
| Railtel Corporation of India Ltd RAILTEL | 19.7 | 4.8 | Mar 2026 |
| Indian Railway Finance Corporation Ltd IRFC | 10.4 | 2.1 | Mar 2026 |
| Oriental Rail Infrastructure Ltd 531859 | 10.1 | 1.9 | Mar 2026 |
| Texmaco Rail & Engineering Ltd TEXRAIL | 9.1 | 1.2 | Mar 2026 |
| Cosmic CRF Ltd 543928 | 8.6 | 1.3 | Mar 2026 |
| Rites Ltd RITES | 8.4 | 3.4 | Mar 2026 |
Full 20-quarter history · every available company
EV/EBITDA · reported quarter history
Cosmic CRF Ltd · 543928
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
22.0
—
8.6
Indian Railway Catering & Tourism Corporation Ltd · IRCTC
94.5
108.7
88.7
69.8
41.9
47.6
41.2
35.1
38.2
39.1
49.0
50.2
47.2
42.8
35.4
32.3
34.1
29.9
29.0
19.9
Indian Railway Finance Corporation Ltd · IRFC
20.0
21.5
13.0
12.1
17.3
19.1
18.8
18.1
19.0
20.5
20.4
22.7
24.3
23.0
21.8
21.2
22.0
20.8
21.2
10.4
Jupiter Wagons Ltd · JWL
3.5
3.4
4.7
4.4
18.1
25.5
27.3
18.8
27.6
40.9
33.5
35.0
55.8
39.8
36.1
24.9
27.2
26.2
29.8
23.3
Oriental Rail Infrastructure Ltd · 531859
13.4
18.7
22.2
25.1
24.1
22.6
15.4
8.8
15.2
25.0
43.1
33.8
27.5
27.1
29.7
17.2
16.4
15.2
16.6
10.1
Railtel Corporation of India Ltd · RAILTEL
14.0
9.7
8.4
6.3
5.6
6.5
8.7
7.9
10.3
17.7
25.8
27.8
35.8
36.0
30.6
23.0
32.9
28.9
29.0
19.7
Rites Ltd · RITES
4.5
5.0
4.8
4.5
2.8
5.2
5.9
6.1
6.7
10.3
11.4
17.1
17.9
20.5
15.7
12.0
16.3
13.4
13.4
8.4
Texmaco Rail & Engineering Ltd · TEXRAIL
11.8
8.6
8.8
10.8
11.9
20.4
20.0
13.2
17.9
21.3
28.7
25.7
32.3
21.7
18.3
11.6
13.6
12.6
13.3
9.1
Titagarh Rail Systems Ltd · TITAGARH
13.8
11.9
11.3
11.1
9.7
10.4
13.3
16.4
23.5
28.7
35.1
27.6
51.7
32.9
30.6
21.6
29.7
31.9
38.0
26.8
P/BV · reported quarter history
Cosmic CRF Ltd · 543928
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
5.2
—
2.6
—
1.3
Indian Railway Catering & Tourism Corporation Ltd · IRCTC
22.2
37.3
40.8
33.1
24.5
25.2
22.9
18.5
20.5
19.1
25.0
23.0
24.5
22.9
17.7
16.5
19.4
15.4
13.2
9.6
Indian Railway Finance Corporation Ltd · IRFC
0.9
0.8
0.8
0.7
0.7
0.6
1.0
0.8
0.9
2.1
2.8
3.9
5.0
4.0
3.7
3.1
3.7
2.9
3.1
2.1
Jupiter Wagons Ltd · JWL
2.7
2.8
3.7
0.6
0.7
3.9
4.9
1.2
2.3
15.8
12.1
14.7
32.2
13.2
8.4
6.1
9.8
5.2
5.3
3.9
Oriental Rail Infrastructure Ltd · 531859
3.7
5.1
6.2
6.8
7.1
5.7
3.6
2.0
2.4
4.4
10.3
10.9
13.1
6.0
6.5
3.4
3.5
2.7
2.9
1.9
Railtel Corporation of India Ltd · RAILTEL
3.4
2.9
2.6
2.0
2.1
2.1
2.6
2.1
2.8
4.4
6.3
6.8
8.7
8.7
7.4
5.6
8.0
7.0
7.0
4.8
Rites Ltd · RITES
2.6
2.8
2.5
2.6
2.3
3.0
3.2
3.4
3.6
4.5
4.7
6.2
6.4
6.6
5.2
4.2
4.7
4.5
4.6
3.4
Texmaco Rail & Engineering Ltd · TEXRAIL
1.1
0.9
0.9
1.2
1.1
1.2
1.4
1.0
1.9
3.0
3.9
4.4
5.7
3.4
3.0
2.0
2.8
2.0
1.9
1.2
Titagarh Rail Systems Ltd · TITAGARH
1.0
1.3
1.3
1.4
1.4
2.0
3.0
3.7
7.2
9.7
9.6
8.9
23.0
7.5
6.6
4.5
5.7
4.8
4.8
3.2
09 · let price answer last
Market action
Titagarh Rail Systems Ltd has the strongest one-year price move in Railways at -7.1%. Cosmic CRF Ltd leads on Mansfield relative strength against NIFTY at +23.5%. 2 of 9 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-17.
Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.
Price and relative strength
Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.
Before the conclusion · check the blind spots
What can make this comparison misleading?
This Railways comparison names 5 specific ways its own evidence can mislead, all listed below. All 9 companies here report on comparable dates, so no rank carries a stale marker. 1 of the 8 ranked sections has fewer than three usable current readings. A high growth rate can still be a low-base artefact.
Keep these limits visible
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- Thin comparisons: Capital expenditure have fewer than three usable current readings.
10 · the complete set
Which companies are included?
All 9 companies in the canonical Railways membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.
AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.
| Company | Market value | Price | Priced to | Latest fundamentals | Source standing |
|---|---|---|---|---|---|
| Indian Railway Finance Corporation Ltd IRFC | ₹1.1 L Cr | ₹87.6 | 2026-07-19 | Mar 2026 | Cross-checked |
| Indian Railway Catering & Tourism Corporation Ltd IRCTC | ₹39.6K Cr | ₹495 | 2026-07-19 | Mar 2026 | Cross-checked |
| Titagarh Rail Systems Ltd TITAGARHAHEAD | ₹11.0K Cr | ₹819 | 2026-07-19 | Mar 2026 | Cross-checked |
| Jupiter Wagons Ltd JWL | ₹10.5K Cr | ₹247 | 2026-07-19 | Mar 2026 | Cross-checked |
| Rites Ltd RITES | ₹10.3K Cr | ₹214 | 2026-07-19 | Mar 2026 | Cross-checked |
| Railtel Corporation of India Ltd RAILTEL | ₹9.1K Cr | ₹285 | 2026-07-19 | Mar 2026 | Cross-checked |
| Texmaco Rail & Engineering Ltd TEXRAILAHEAD | ₹4.5K Cr | ₹110 | 2026-07-19 | Mar 2026 | Cross-checked |
| Cosmic CRF Ltd 543928AHEADLAGGING, FUNDAMENTALS UP | ₹1.1K Cr | ₹1,227 | 2026-07-19 | Mar 2026 | Primary source only |
| Oriental Rail Infrastructure Ltd 531859LAGGING, FUNDAMENTALS UP | ₹734 Cr | ₹110 | 2026-07-19 | Mar 2026 | Primary source only |
How each company's sources stand: Every company's second-feed figures reconcile against the primary source on overlapping reported periods, so nothing here is unverified or withheld.
Evidence and freshness
How was this comparison built?
This comparison is built from the reported filings of 9 Railways companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Mar 2026 and market data through 2026-07-24. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.
FundamentalsThrough Mar 2026 · up to 20 quarters per company
Market dataThrough 2026-07-24 · weekly price and relative-strength history
Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Source standing7 cross-checked · 2 unverified · 0 withheld, of 9 graded companies.
A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from. Every company's standing is listed in the register above.
Questions investors ask · short, speakable answers
Railways company comparison FAQs
These 18 answers restate the Railways comparison above in question form. Every one is computed from the same 9 companies and the same reported filings as the rankings and charts, current through Mar 2026. Price and relative-strength answers run through 2026-07-24. Nothing here is estimated, and none of it is a recommendation.
What is the Nifty Railways index?
The Nifty Railways index tracks India's listed Railways companies as a single basket. This page follows the same 9 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Railways sector rather than to its largest constituent. Figures are as of Mar 2026.
Which are the best Railways stocks in India?
Ranked by this page's four-factor score, Cosmic CRF Ltd places first among 9 listed Railways companies, followed by Railtel Corporation of India Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Mar 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.
How many Railways stocks are listed in India?
This comparison covers 9 listed Railways companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Mar 2026.
Which Railways company is the biggest?
Indian Railway Finance Corporation Ltd is the largest, with trailing-twelve-month revenue of ₹27,284 crore, ahead of Indian Railway Catering & Tourism Corporation Ltd at ₹5,215 crore. That covers 9 of 9 companies with comparable reporting through Mar 2026.
Which Railways company is growing fastest?
Cosmic CRF Ltd has the fastest revenue growth at 100% year on year, across 9 of 9 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.
Which Railways company has the best profit margins?
Indian Railway Finance Corporation Ltd has the highest operating margin at 98.4%, from 9 of 9 comparable companies. Titagarh Rail Systems Ltd shows the biggest recent improvement, at +9 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.
Which Railways company makes the most profit?
Indian Railway Finance Corporation Ltd earns the most, at ₹7,009 crore of trailing-twelve-month net profit, from 9 of 9 comparable companies. Cosmic CRF Ltd has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.
Which Railways company earns the highest return on capital?
Indian Railway Catering & Tourism Corporation Ltd leads on return on capital employed at 46.1%, across 9 of 9 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.
Which Railways stock is the cheapest?
On guarded PEG — where a LOWER number is cheaper — Texmaco Rail & Engineering Ltd screens cheapest at 0.81×. Only 7 of 9 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.
Which Railways company has the strongest balance sheet?
Rites Ltd carries the lowest comparable gross debt at ₹7 crore, from 9 of 9 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.
Which Railways stock has the strongest price momentum?
Cosmic CRF Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.
Which Railways company scores highest for research priority?
Cosmic CRF Ltd scores 68.4 out of 100 with 59.6% evidence confidence, from 23.8 points on growth and earnings, 13.8 on capital efficiency, 10.8 on valuation and 20 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.
How many Railways companies does this comparison cover, and over what period?
It compares 9 listed companies over up to 20 reported quarters of fundamentals and 10 fiscal years of capital allocation, ending Mar 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.
What is the total market cap of the Railways sector?
The 9 Railways companies on this page carry ₹2,01,434 crore of combined market value. Indian Railway Finance Corporation Ltd is the largest at ₹1,14,506 crore, about 57% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-29.
What is the Railways sector's P/E ratio?
The median price-to-earnings ratio across the 9 Railways companies on this page is 25×, measured on the 9 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-29.
How is the Railways sector performing?
2 of the 9 covered Railways companies are beating NIFTY 500 on Mansfield relative strength. A 52-week sector-versus-index comparison is not available from the current market series for this sector, so it is not quoted. Readings are as of 2026-07-29.
Why are some values on this page blank?
A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.
Is this investment advice?
No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.