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    <title>Indian Railway sector players&#039; revenue to grow at 5pc in FY26, wagon makers lead expansion: ICRA</title>
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    <description>Sector revenue growth is expected to be moderate and led by wagon manufacturers and EPC firms, supported by elevated order backlogs and service segments such as ticketing and logistics that bolster margins. Weighted average operating margins should remain healthy on operating leverage and stable input prices. Despite a substantial multi year rise in capital outlay that has driven infrastructure activity, recent incremental budgetary support has been modest, indicating a likely moderation in near to medium term growth momentum for the broader set of railway facing entities.</description>
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