Texmaco Rail & Engineering Ltd Share Price – NSE  /  BSE

Capital Goods-Non Electrical Equipment, Small Cap

Meanwhile, the company's board has also approved raising of funds by way of issuance of equity shares by way of preferential issue to promoter/ promoter group, for an amount not exceeding Rs 50 crore, on preferential basis for cash.

The issuances are subject to approval from the shareholders of the company and the receipt of such regulatory/statutory approvals as may be required.

Texmaco Rail & Engineering is a diversified heavy engineering company, with products including railway freight wagons, hydro-mechanical equipment and industrial structures for infrastructure industry, locomotive components and locomotive shells, railway bridges, steel castings, and pressure vessels, etc.

On a consolidated basis, the company reported net profit of Rs 12.75 crore as against a net loss of Rs 20.54 crore. Net sales surged 119.9% YoY to Rs 656.82 crore in Q1 FY24.

Shares of Texmaco Rail closed 1.43% lower at Rs 140.95 on Friday, 15 September 2023.

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The Board of Texmaco Rail & Engineering at its meeting held on 15 September 2023 has approved fund raising up to Rs 1000 crore by way issuance of equity shares through qualified institutional placement. The Board also approved fund raising up to Rs 50 crore by way of preferential issue to promoter/ promoter group.

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Texmaco Rail & Engineering informed that a meeting of its board is scheduled on Friday, 15 September 2023 to consider and approve the proposal of raising of funds.

The proposal is subject to regulatory/statutory approvals as may be required and the approval of shareholders of the company.

Texmaco Rail & Engineering is a diversified heavy engineering company, with products including railway freight wagons, hydro-mechanical equipment and industrial structures for infrastructure industry, locomotive components and locomotive shells, railway bridges, steel castings, and pressure vessels, etc.

On a consolidated basis, the company reported net profit of Rs 12.75 crore as against a net loss of Rs 20.54 crore. Net sales surged 119.9% YoY to Rs 656.82 crore in Q1 FY24.

Shares of Texmaco Rail slipped 3.41% to Rs 131.75 on the BSE.

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Texmaco Rail & Engineering will hold a meeting of the Board of Directors of the Company on 15 September 2023.

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