Texmaco Rail & Engineering Secures ₹243 Crore Orders for Maharashtra Rail Projects

Texmaco Rail & Engineering Ltd, a Kolkata-based engineering company, announced on Saturday that it has secured significant orders worth ₹243 crore from the Mumbai Railway Vikas Corporation (MRVC). These orders are for power supply projects along two key railway routes in Maharashtra. Specifically, the projects involve upgrading the power infrastructure for the 3rd and 4th lines extending from Virar to Dahanu, as well as for the new suburban corridor between Panvel and Karjat.

The company’s hyper-specialised EPC division, Bright Power, will spearhead the execution of these projects. The scope of work encompasses the design, construction, installation, testing, and commissioning of the power supply infrastructure. This includes the construction of two 25 KV traction substations and other associated infrastructure essential for ensuring reliable power supply to the railway lines.

Texmaco Rail & Engineering’s Vice Chairman, Indrajit Mookherjee, described the order as a significant milestone for the company. He emphasised that it solidifies Texmaco’s role as a prominent player in the railway infrastructure sector. The successful execution of these projects is expected to bolster the company’s growth prospects and enhance its reputation in the industry.

In a strategic move to expand its business, Texmaco Rail & Engineering announced in July that it has entered into definitive agreements with Jindal Rail & Infrastructure Limited (JRIL), JITF Urban Infrastructure Services Limited, and Siddeshwari Tradex Private Limited to acquire 100% of JRIL’s share capital on a fully diluted basis. This acquisition is subject to certain closing adjustments as specified in the agreements.

For the financial year 2024, Texmaco Rail & Engineering reported a total income of ₹3,57,241.72 lakh, a substantial increase from ₹2,26,965.16 lakh in FY 2023. The company’s net profit also saw a significant rise, reaching ₹9,618.16 lakh compared to ₹1,153.22 lakh in the previous fiscal year. This growth in financial performance underscores the company’s successful expansion and operational efficiency.

About Texmaco Rail & Engineering Ltd

Texmaco Rail & Engineering Ltd, a member of the Adventz Group, is an engineering infrastructure company specialising in manufacturing rolling stock, hydro-mechanical equipment, and steel castings. The company is also engaged in constructing rail EPC projects, bridges, and other steel structures.

On August 05, 2024, the share price of Texmaco Rail & Engineering Ltd opened at ₹250.00, touching the day’s high at ₹254.75, as of 10:37 AM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.