Hirect wins ₹60 cr development order for Vande Metro trainsets
The order opens a new growth segment tied to the government's semi-high-speed rail programme. Execution is spread over 21 months.
— 1 earlier story on Hirect Ltd. →What's new
- Hirect secured its first order for Vande Metro trainsets from Indian Railways.
- Contract valued at approximately ₹60 crore, to be executed over 21 months.
- Order marks entry into semi-high-speed rail supply chain, expanding beyond conventional traction.
Why this matters
The Vande Metro programme is a key government initiative for semi-high-speed rail. For Hirect, which reported ₹280 crore in quarterly sales, this ₹60 crore order provides near-term revenue visibility and could lead to larger follow-on contracts, reinforcing its credentials in propulsion and power electronics.
What we're watching
- Execution over 21 months and delivery milestones.
- Potential follow-on orders for additional trainsets.
- Impact on revenue growth trajectory given the recent strong FY26 performance.
The full read
Hirect has won its first development order for Vande Metro trainsets from Indian Railways, valued at ₹60 crore and to be executed over 21 months. This marks the company's entry into the semi-high-speed rail supply chain, a government priority. For Hirect, which reported ₹280 crore in quarterly sales and a net loss of ₹2 crore in the latest period, the order provides meaningful revenue visibility. The contract is arm's-length and unrelated to promoters. It builds on a strong FY26 where net profit rose 55% to ₹57.7 crore. While a development order, it could open doors for larger commercial orders. The open question is how quickly Hirect can scale production for this new segment.
Questions answered
- What is the order size relative to Hirect's revenue?
- The ₹60 crore order represents about 5% of Hirect's latest quarterly sales of ₹280 crore, providing meaningful near-term revenue visibility over 21 months.
- Is this a related-party transaction?
- No. The order is an arm's-length contract with Indian Railways and does not involve promoter or group companies.
- What is Vande Metro?
- Vande Metro, also called Namo Bharat, is a semi-high-speed trainset programme by Indian Railways, aimed at improving inter-city connectivity. Hirect's order is for development of these trainsets.
- How does this compare to Hirect's previous orders?
- This is Hirect's first order in the Vande Metro segment. It builds on a strong FY26 where net profit rose 55% to ₹57.7 crore, and the company set a $1 billion revenue target.
- What is the timeline for execution?
- The supply contract is to be executed within 21 months from the order date (July 25, 2026).
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All notes on HIRECT →- 25 Jul 2026 · 10:44 PM IST Hirect wins ₹60 cr development order for Vande Metro trainsets
- 64d ago Hind Rectifiers targets $1 billion revenue after strong FY26