New Delhi, April 15 -- The revenue of companies operating in the Indian railway sector is expected to grow at a moderate pace of 5 per cent in the financial year 2025-26 (FY26), according to a recent analysis by ratings agency ICRA.

The growth will be largely driven by strong demand in the wagon manufacturing segment.

ICRA noted that while wagon manufacturers are expected to witness robust expansion, construction companies involved in railway-related infrastructure projects may see relatively slower growth.

It said "revenues of the entities operating in the Indian railway sector are expected to expand at a moderate rate of 5 per cent in FY2026, primarily driven by robust growth expectations from Wagon manufacturers".

Despite the moder...