{"id":290909,"date":"2026-10-07T09:22:40","date_gmt":"2026-10-07T03:52:40","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=290909"},"modified":"2026-10-07T09:22:40","modified_gmt":"2026-10-07T03:52:40","slug":"power-transmission-epc-stocks-strong-roadmap","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/power-transmission-epc-stocks-strong-roadmap\/","title":{"rendered":"3 Power Transmission EPC Stocks With a Strong Future Roadmap: Kalpataru Projects International, Transrail Lighting and Enviro Infra Engineers"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Kalpataru Projects Rs 1,451.50, P\/E 21.98. Transrail Rs 482.40, P\/E 15.97. Enviro Infra Rs 185.54, P\/E 17.03. Closing prices of 6 Oct 2026.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Power transmission EPC stocks with the clearest long-term roadmaps today include Kalpataru Projects International in power transmission, railway and water infrastructure projects, Transrail Lighting in transmission line towers and EPC projects for power utilities and Enviro Infra Engineers in water, wastewater and sewage treatment projects. FY26 revenue growth was 21.8% at Kalpataru Projects, 29.4% at Transrail and 9.4% at Enviro Infra. P\/E stands at 21.98 for Kalpataru Projects (industry 23.15), 15.97 for Transrail (industry 23.15) and 17.03 for Enviro Infra (industry 23.15). Demand cycles, input costs and valuation decide how much of that growth the market keeps paying for, so each company&#8217;s risks need equal attention.<\/p>\n<\/p><\/div>\n<p>Power transmission EPC stocks give investors exposure to contractors that build power lines, towers and related utility infrastructure. Results depend on order inflow, execution speed and working capital, which is why cash flow matters as much as headline growth.<\/p>\n<p>This list covers three utility infrastructure EPC stocks: Kalpataru Projects International for power transmission, railway and water infrastructure projects, Transrail Lighting for transmission line towers and EPC projects for power utilities and Enviro Infra Engineers for water, wastewater and sewage treatment projects. Every figure comes from the latest reported financials and the 6 October 2026 market close. Companies without complete current figures were left out.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=power-transmission-epc-stocks-strong-roadmap\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/power-transmission-epc-stocks-strong-roadmap\/#What_Are_Power_Transmission_EPC_Stocks\" title=\"What Are Power Transmission EPC Stocks?\">What Are Power Transmission EPC Stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/power-transmission-epc-stocks-strong-roadmap\/#Power_Transmission_EPC_Stocks_at_a_Glance\" title=\"Power Transmission EPC Stocks at a Glance\">Power Transmission EPC Stocks at a Glance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/power-transmission-epc-stocks-strong-roadmap\/#Why_Do_Power_Transmission_EPC_Stocks_Have_a_Strong_Roadmap_in_India\" title=\"Why Do Power Transmission EPC Stocks Have a Strong Roadmap in India?\">Why Do Power Transmission EPC Stocks Have a Strong Roadmap in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/power-transmission-epc-stocks-strong-roadmap\/#Kalpataru_Projects_International_Transmission_Railway_and_Water_Projects_Anchor_the_Roadmap\" title=\"Kalpataru Projects International: Transmission, Railway and Water Projects Anchor the Roadmap\">Kalpataru Projects International: Transmission, Railway and Water Projects Anchor the Roadmap<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/power-transmission-epc-stocks-strong-roadmap\/#Transrail_Lighting_Transmission_Towers_and_Utility_Orders_Drive_the_Pipeline\" title=\"Transrail Lighting: Transmission Towers and Utility Orders Drive the Pipeline\">Transrail Lighting: Transmission Towers and Utility Orders Drive the Pipeline<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/power-transmission-epc-stocks-strong-roadmap\/#Enviro_Infra_Engineers_Water_and_Wastewater_Projects_Build_the_Next_Leg\" title=\"Enviro Infra Engineers: Water and Wastewater Projects Build the Next Leg\">Enviro Infra Engineers: Water and Wastewater Projects Build the Next Leg<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/power-transmission-epc-stocks-strong-roadmap\/#Best_Power_Transmission_EPC_Stocks_in_India_Kalpataru_Projects_vs_Transrail_vs_Enviro_Infra_on_Key_Financials\" title=\"Best Power Transmission EPC Stocks in India: Kalpataru Projects vs Transrail vs Enviro Infra on Key Financials\">Best Power Transmission EPC Stocks in India: Kalpataru Projects vs Transrail vs Enviro Infra on Key Financials<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/power-transmission-epc-stocks-strong-roadmap\/#How_to_Evaluate_Transmission_Line_Contractor_Stocks_to_Buy_Before_You_Invest\" title=\"How to Evaluate Transmission Line Contractor Stocks to Buy Before You Invest\">How to Evaluate Transmission Line Contractor Stocks to Buy Before You Invest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/power-transmission-epc-stocks-strong-roadmap\/#Risks_to_Consider_Before_Investing_in_Power_Transmission_EPC_Stocks\" title=\"Risks to Consider Before Investing in Power Transmission EPC Stocks\">Risks to Consider Before Investing in Power Transmission EPC Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/power-transmission-epc-stocks-strong-roadmap\/#Final_Take_Which_Stock_Has_the_Strongest_Roadmap\" title=\"Final Take: Which Stock Has the Strongest Roadmap?\">Final Take: Which Stock Has the Strongest Roadmap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/power-transmission-epc-stocks-strong-roadmap\/#FAQs_on_Power_Transmission_EPC_Stocks\" title=\"FAQs on Power Transmission EPC Stocks\">FAQs on Power Transmission EPC Stocks<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/power-transmission-epc-stocks-strong-roadmap\/#Which_are_the_best_power_transmission_EPC_stocks_in_India_with_a_strong_roadmap\" title=\"Which are the best power transmission EPC stocks in India with a strong roadmap?\">Which are the best power transmission EPC stocks in India with a strong roadmap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/power-transmission-epc-stocks-strong-roadmap\/#Is_Kalpataru_Projects_International_a_good_stock_to_buy_now\" title=\"Is Kalpataru Projects International a good stock to buy now?\">Is Kalpataru Projects International a good stock to buy now?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/power-transmission-epc-stocks-strong-roadmap\/#What_is_the_PE_ratio_of_Kalpataru_Projects_Transrail_and_Enviro_Infra\" title=\"What is the P\/E ratio of Kalpataru Projects, Transrail and Enviro Infra?\">What is the P\/E ratio of Kalpataru Projects, Transrail and Enviro Infra?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/power-transmission-epc-stocks-strong-roadmap\/#Which_of_these_power_transmission_EPC_stocks_has_the_highest_return_on_equity\" title=\"Which of these power transmission EPC stocks has the highest return on equity?\">Which of these power transmission EPC stocks has the highest return on equity?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/power-transmission-epc-stocks-strong-roadmap\/#What_are_the_risks_of_investing_in_power_transmission_EPC_stocks\" title=\"What are the risks of investing in power transmission EPC stocks?\">What are the risks of investing in power transmission EPC stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/power-transmission-epc-stocks-strong-roadmap\/#How_did_Kalpataru_Projects_Transrail_and_Enviro_Infra_perform_in_Q1_FY27\" title=\"How did Kalpataru Projects, Transrail and Enviro Infra perform in Q1 FY27?\">How did Kalpataru Projects, Transrail and Enviro Infra perform in Q1 FY27?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/power-transmission-epc-stocks-strong-roadmap\/#Do_power_transmission_EPC_stocks_pay_dividends\" title=\"Do power transmission EPC stocks pay dividends?\">Do power transmission EPC stocks pay dividends?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/power-transmission-epc-stocks-strong-roadmap\/#How_can_I_invest_in_power_transmission_EPC_stocks_in_India\" title=\"How can I invest in power transmission EPC stocks in India?\">How can I invest in power transmission EPC stocks in India?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Power_Transmission_EPC_Stocks\"><\/span><strong>What Are Power Transmission EPC Stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Power transmission EPC stocks are shares of engineering, procurement and construction firms that build transmission lines, substations, towers and related water and rail infrastructure for utilities and governments. Results depend on order inflow, execution speed, working capital and operating margin, so a strong order book and disciplined cash use separate the stronger names.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Power_Transmission_EPC_Stocks_at_a_Glance\"><\/span><strong>Power Transmission EPC Stocks at a Glance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table compares size, valuation, return on equity and debt for the three power transmission EPC stocks as of the 6 October 2026 close.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Company<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">CMP (Rs)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Market Cap (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Industry P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">ROE<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Debt to Equity<\/th>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/kpil\/kalpataru-projects-international-ltd-share-price-today\">Kalpataru Projects International<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,451.50<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">24,806<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">21.98<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">23.15<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">13.37%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.46<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/transraill\/transrail-lighting-ltd-share-price-today\">Transrail Lighting<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">482.40<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">6,467<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">15.97<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">23.15<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.69%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.30<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/eiel\/enviro-infra-engineers-ltd-share-price-today\">Enviro Infra Engineers<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">185.54<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">3,256<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.03<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">23.15<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">14.84%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.34<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Among utility infrastructure EPC stocks, all three trade below their industry P\/E multiples.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Do_Power_Transmission_EPC_Stocks_Have_a_Strong_Roadmap_in_India\"><\/span><strong>Why Do Power Transmission EPC Stocks Have a Strong Roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Power transmission EPC stocks have a strong roadmap in India because the grid is being expanded to carry renewable power, utilities are placing large orders and governments are spending on water projects. Three drivers stand out.<\/p>\n<ul>\n<li><strong>Grid expansion:<\/strong> New transmission lines carry renewable power to cities.<\/li>\n<li><strong>Utility orders:<\/strong> State and central utilities place large long-running contracts.<\/li>\n<li><strong>Water infrastructure:<\/strong> Government programmes fund treatment and supply projects.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Kalpataru_Projects_International_Transmission_Railway_and_Water_Projects_Anchor_the_Roadmap\"><\/span><strong>Kalpataru Projects International: Transmission, Railway and Water Projects Anchor the Roadmap<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Kalpataru Projects&#8217; roadmap rests on power transmission, railway and water infrastructure projects, with a large order book spread across segments.<\/p>\n<p>Revenue grew from Rs 14,866.30 crore in FY22 to Rs 27,247.93 crore in FY26, a 83.3% rise, and FY26 revenue was 21.8% higher than FY25. FY26 net profit rose 81.7% to Rs 1,030.63 crore. Over four years, net profit rose from Rs 535.06 crore in FY22 to Rs 1,030.63 crore. In Q1 FY27, revenue grew 4.8% to Rs 6,485.17 crore, and net profit rose 45.9% to Rs 311.53 crore. Operating margin was 9.48% in FY26 and 9.97% in Q1 FY27 against 8.77% a year earlier.<\/p>\n<p>Debt to equity is 0.46 and return on equity is 13.37%. FY26 operating cash flow was Rs 1,534.38 crore against capital expenditure of Rs 810.33 crore. Kalpataru Projects paid a dividend of Rs 11 per share for FY26, a yield of 0.76%. At a P\/E of 21.98 against an industry P\/E of 23.15, the stock trades below its industry multiple.<\/p>\n<p>What to watch: Operating margin is below 10% and FY26 capex of Rs 810.33 Cr was large, so execution and working capital need tracking.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Transrail_Lighting_Transmission_Towers_and_Utility_Orders_Drive_the_Pipeline\"><\/span><strong>Transrail Lighting: Transmission Towers and Utility Orders Drive the Pipeline<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Transrail&#8217;s roadmap rests on transmission line towers and EPC projects for power utilities, with a strong order book from grid expansion.<\/p>\n<p>Revenue grew from Rs 2,357.21 crore in FY22 to Rs 6,928.83 crore in FY26, a 193.9% rise, and FY26 revenue was 29.4% higher than FY25. FY26 net profit rose 22.8% to Rs 403.59 crore. Over four years, net profit rose from Rs 65.20 crore in FY22 to Rs 403.59 crore. In Q1 FY27, revenue grew 4.9% to Rs 1,752.66 crore, and net profit rose 1.9% to Rs 107.88 crore. Operating margin was 14.13% in FY26 and 12.88% in Q1 FY27 against 12.89% a year earlier.<\/p>\n<p>Debt to equity is 0.30 and return on equity is 17.69%. FY26 operating cash flow was Rs 642.92 crore against capital expenditure of Rs 248.75 crore. Transrail paid a dividend of Rs 2 per share for FY26, a yield of 0.42%. At a P\/E of 15.97 against an industry P\/E of 23.15, the stock trades below its industry multiple.<\/p>\n<p>What to watch: Q1 FY27 net profit grew only 1.9%, and the FY26 operating margin of 14.13% was below the 15.52% of FY25.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Enviro_Infra_Engineers_Water_and_Wastewater_Projects_Build_the_Next_Leg\"><\/span><strong>Enviro Infra Engineers: Water and Wastewater Projects Build the Next Leg<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Enviro Infra&#8217;s roadmap rests on water, wastewater and sewage treatment projects, with government spending on water supply feeding its orders.<\/p>\n<p>Revenue grew from Rs 225.62 crore in FY22 to Rs 1,187.97 crore in FY26, a 426.5% rise, and FY26 revenue was 9.4% higher than FY25. FY26 net profit rose 6.3% to Rs 188.38 crore. Over four years, net profit rose from Rs 34.55 crore in FY22 to Rs 188.38 crore. In Q1 FY27, revenue grew 46.5% to Rs 365.18 crore, and net profit rose 6.4% to Rs 45.21 crore. Operating margin was 27.10% in FY26 and 22.74% in Q1 FY27 against 28.03% a year earlier.<\/p>\n<p>Debt to equity is 0.34 and return on equity is 14.84%. FY26 operating cash flow was negative at Rs 63.09 crore against capital expenditure of Rs 182.09 crore. At a P\/E of 17.03 against an industry P\/E of 23.15, the stock trades below its industry multiple.<\/p>\n<p>What to watch: Operating cash flow was negative in FY24, FY25 and FY26 while capex rose to Rs 182.09 Cr in FY26. Operating cash flow was negative in FY26.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Best_Power_Transmission_EPC_Stocks_in_India_Kalpataru_Projects_vs_Transrail_vs_Enviro_Infra_on_Key_Financials\"><\/span><strong>Best Power Transmission EPC Stocks in India: Kalpataru Projects vs Transrail vs Enviro Infra on Key Financials<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the best power transmission EPC stocks in India, Enviro Infra leads on FY26 operating margin and Q1 FY27 revenue growth; Transrail leads on return on equity and the lowest P\/E. The table puts the numbers side by side.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Metric<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Kalpataru Projects<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Transrail<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Enviro Infra<\/th>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 revenue (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">27,247.93<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">6,928.83<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,187.97<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 revenue growth<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">21.8%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">29.4%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">9.4%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Revenue growth FY22 to FY26<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">83.3%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">193.9%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">426.5%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 net profit (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,030.63<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">403.59<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">188.38<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 net profit growth<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">81.7%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">22.8%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">6.3%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 operating profit margin<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">9.48%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">14.13%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">27.10%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Q1 FY27 revenue growth (YoY)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4.8%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4.9%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">46.5%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Q1 FY27 net profit growth (YoY)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">45.9%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1.9%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">6.4%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Return on equity<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">13.37%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.69%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">14.84%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">P\/E ratio<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">21.98<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">15.97<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.03<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Debt to equity<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.46<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.30<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.34<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Dividend yield<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.76%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.42%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.00%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 operating cash flow (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,534.38<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">642.92<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">-63.09<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>EPC earnings follow order inflow and execution, so full-year numbers and quarterly trends together give a better view.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Evaluate_Transmission_Line_Contractor_Stocks_to_Buy_Before_You_Invest\"><\/span><strong>How to Evaluate Transmission Line Contractor Stocks to Buy Before You Invest<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A short checklist keeps the research consistent when you screen power transmission EPC stocks and shortlist transmission line contractor stocks to buy.<\/p>\n<ol>\n<li>Compare each stock&#8217;s P\/E with its industry P\/E, which is 23.15 for all three here.<\/li>\n<li>Track operating margin across several quarters, because input costs can move faster than prices.<\/li>\n<li>Check whether revenue growth is turning into profit growth, not only sales.<\/li>\n<li>Read operating cash flow against capital expenditure to see how growth is funded.<\/li>\n<li>Watch debt to equity and interest cover before sizing a position.<\/li>\n<li>Spread exposure across companies and business lines instead of one demand cycle.<\/li>\n<\/ol>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Check the Univest Screener for live data on these power transmission EPC stocks<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Risks_to_Consider_Before_Investing_in_Power_Transmission_EPC_Stocks\"><\/span><strong>Risks to Consider Before Investing in Power Transmission EPC Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Thin margins:<\/strong> Kalpataru Projects runs an operating margin below 10%.<\/li>\n<li><strong>Cash flow:<\/strong> Enviro Infra&#8217;s operating cash flow was negative in FY24, FY25 and FY26.<\/li>\n<li><strong>Slower profit growth:<\/strong> Transrail&#8217;s Q1 FY27 profit grew only 1.9%.<\/li>\n<li><strong>Working capital:<\/strong> Large projects tie up cash until payments arrive.<\/li>\n<\/ul>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Kalpataru Projects, Transrail and Enviro Infra live.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Final_Take_Which_Stock_Has_the_Strongest_Roadmap\"><\/span><strong>Final Take: Which Stock Has the Strongest Roadmap?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>These three transmission line contractor stocks cover transmission and railway projects, tower manufacturing and utility EPC, and water infrastructure. Enviro Infra leads on FY26 operating margin and Q1 FY27 revenue growth; Transrail leads on return on equity and the lowest P\/E.<\/p>\n<p>Across utility infrastructure EPC stocks, each roadmap still has to turn growth into steady profit, so independent research and position sizing matter. Investors should consult a SEBI-registered advisor before acting on any of the transmission line contractor stocks to buy discussed here.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"FAQs_on_Power_Transmission_EPC_Stocks\"><\/span><strong>FAQs on Power Transmission EPC Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Which_are_the_best_power_transmission_EPC_stocks_in_India_with_a_strong_roadmap\"><\/span><strong>Which are the best power transmission EPC stocks in India with a strong roadmap?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Kalpataru Projects International, Transrail Lighting and Enviro Infra Engineers stand out for their roadmaps in power transmission, towers and water infrastructure projects. FY26 revenue growth was 21.8% at Kalpataru Projects, 29.4% at Transrail and 9.4% at Enviro Infra, and return on equity ranges from 13.37% to 17.69%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Kalpataru_Projects_International_a_good_stock_to_buy_now\"><\/span><strong>Is Kalpataru Projects International a good stock to buy now?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Kalpataru Projects International has a debt to equity ratio of 0.46, a return on equity of 13.37% and a P\/E of 21.98 against an industry P\/E of 23.15. Thin margins, cash flow and working capital move results. This article is not investment advice, so consult a SEBI-registered advisor before deciding.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_PE_ratio_of_Kalpataru_Projects_Transrail_and_Enviro_Infra\"><\/span><strong>What is the P\/E ratio of Kalpataru Projects, Transrail and Enviro Infra?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The P\/E ratio is 21.98 for Kalpataru Projects (industry 23.15), 15.97 for Transrail (industry 23.15) and 17.03 for Enviro Infra (industry 23.15). All three trade below the industry multiple.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_of_these_power_transmission_EPC_stocks_has_the_highest_return_on_equity\"><\/span><strong>Which of these power transmission EPC stocks has the highest return on equity?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Transrail Lighting has the highest return on equity at 17.69%, followed by Enviro Infra Engineers at 14.84% and Kalpataru Projects International at 13.37%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_risks_of_investing_in_power_transmission_EPC_stocks\"><\/span><strong>What are the risks of investing in power transmission EPC stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The main risks are thin margins, negative operating cash flow at one firm, slower profit growth and working capital needs. Enviro Infra&#8217;s operating cash flow was negative in FY24, FY25 and FY26.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_did_Kalpataru_Projects_Transrail_and_Enviro_Infra_perform_in_Q1_FY27\"><\/span><strong>How did Kalpataru Projects, Transrail and Enviro Infra perform in Q1 FY27?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Kalpataru Projects International reported revenue of Rs 6,485.17 crore, up 4.8% year on year, and net profit rose 45.9% to Rs 311.53 crore. Transrail Lighting reported revenue of Rs 1,752.66 crore, up 4.9% year on year, and net profit rose 1.9% to Rs 107.88 crore. Enviro Infra Engineers reported revenue of Rs 365.18 crore, up 46.5% year on year, and net profit rose 6.4% to Rs 45.21 crore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Do_power_transmission_EPC_stocks_pay_dividends\"><\/span><strong>Do power transmission EPC stocks pay dividends?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Dividend payouts differ across the three companies. The dividend yield is 0.76% for Kalpataru Projects, 0.42% for Transrail and 0.00% for Enviro Infra, based on dividends declared for FY26.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_can_I_invest_in_power_transmission_EPC_stocks_in_India\"><\/span><strong>How can I invest in power transmission EPC stocks in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> You can buy power transmission EPC stocks through a demat and trading account on NSE or BSE after checking each company&#8217;s financials, margins and valuation. The Univest Screener lets you compare fundamentals before placing an order. Investments in securities are subject to market risk, so consider your risk profile first.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Which are the best power transmission EPC stocks in India with a strong roadmap?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Kalpataru Projects International, Transrail Lighting and Enviro Infra Engineers stand out for their roadmaps in power transmission, towers and water infrastructure projects. FY26 revenue growth was 21.8% at Kalpataru Projects, 29.4% at Transrail and 9.4% at Enviro Infra, and return on equity ranges from 13.37% to 17.69%.\"}},{\"@type\":\"Question\",\"name\":\"Is Kalpataru Projects International a good stock to buy now?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Kalpataru Projects International has a debt to equity ratio of 0.46, a return on equity of 13.37% and a P\/E of 21.98 against an industry P\/E of 23.15. Thin margins, cash flow and working capital move results. This article is not investment advice, so consult a SEBI-registered advisor before deciding.\"}},{\"@type\":\"Question\",\"name\":\"What is the P\/E ratio of Kalpataru Projects, Transrail and Enviro Infra?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The P\/E ratio is 21.98 for Kalpataru Projects (industry 23.15), 15.97 for Transrail (industry 23.15) and 17.03 for Enviro Infra (industry 23.15). All three trade below the industry multiple.\"}},{\"@type\":\"Question\",\"name\":\"Which of these power transmission EPC stocks has the highest return on equity?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Transrail Lighting has the highest return on equity at 17.69%, followed by Enviro Infra Engineers at 14.84% and Kalpataru Projects International at 13.37%.\"}},{\"@type\":\"Question\",\"name\":\"What are the risks of investing in power transmission EPC stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The main risks are thin margins, negative operating cash flow at one firm, slower profit growth and working capital needs. Enviro Infra's operating cash flow was negative in FY24, FY25 and FY26.\"}},{\"@type\":\"Question\",\"name\":\"How did Kalpataru Projects, Transrail and Enviro Infra perform in Q1 FY27?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Kalpataru Projects International reported revenue of Rs 6,485.17 crore, up 4.8% year on year, and net profit rose 45.9% to Rs 311.53 crore. Transrail Lighting reported revenue of Rs 1,752.66 crore, up 4.9% year on year, and net profit rose 1.9% to Rs 107.88 crore. Enviro Infra Engineers reported revenue of Rs 365.18 crore, up 46.5% year on year, and net profit rose 6.4% to Rs 45.21 crore.\"}},{\"@type\":\"Question\",\"name\":\"Do power transmission EPC stocks pay dividends?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Dividend payouts differ across the three companies. The dividend yield is 0.76% for Kalpataru Projects, 0.42% for Transrail and 0.00% for Enviro Infra, based on dividends declared for FY26.\"}},{\"@type\":\"Question\",\"name\":\"How can I invest in power transmission EPC stocks in India?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"You can buy power transmission EPC stocks through a demat and trading account on NSE or BSE after checking each company's financials, margins and valuation. The Univest Screener lets you compare fundamentals before placing an order. Investments in securities are subject to market risk, so consider your risk profile first.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Kalpataru Projects International, Transrail Lighting and Enviro Infra Engineers compared on growth, margins, debt and valuation, with the roadmap and risks investors should track.<\/p>\n","protected":false},"author":29,"featured_media":290907,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[9158,9157,9155,9156,1057],"class_list":["post-290909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-enviro-infra-engineers","tag-kalpataru-projects-international","tag-power-transmission-epc-stocks","tag-transmission-line-contractor-stocks","tag-transrail-lighting"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["290907"],"rank_math_title":["Power Transmission EPC Stocks: Kalpataru Projects, Transrail and"],"rank_math_description":["Power transmission EPC stocks with a strong roadmap: Kalpataru Projects, Transrail and Enviro Infra compared on growth, margins, valuation and risks. Oct 2026 data."],"rank_math_focus_keyword":["power transmission EPC stocks"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/3-power-transmission-epc-stocks-with-a-strong-future-roadmap-kalpataru-projects.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/290909","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=290909"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/290909\/revisions"}],"predecessor-version":[{"id":290910,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/290909\/revisions\/290910"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/290907"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=290909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=290909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=290909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}