Texmaco Rail & Engineering Ltd Share Price – NSE  /  BSE

Capital Goods-Non Electrical Equipment, Small Cap

The Board of Texmaco Rail & Engineering at its meeting held today i.e. 25th July 2024 has approved the acquisition of all of the rights, title and interest in all of the securities of Jindal Rail Infrastructure (JRIL) held by the existing security holders, namely, JITF Urban Infrastructure Service (JUISL) and Siddeshwari Tradex (STPL).

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Texmaco Rail & Engineering announced that Belur Engineering (Belur Engg) has ceased to be a wholly owned subsidiary of the Company w.e.f. 8 June 2024, pursuant to allotment of 96,078 equity shares of Rs. 10 each by Belur Engg to NYMWAG CS, a.s. (NYMWAG) as per the joint venture agreement entered into between the Company and NYMWAG.

Pursuant to the joint venture agreement, the company's shareholding in Belur Engg has diluted to 51%. Belur Engg has ceased to be a wholly owned subsidiary of the company w.e.f. 8th June, 2024.

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Net profit of Texmaco Rail & Engineering rose 147.24% to Rs 45.32 crore in the quarter ended March 2024 as against Rs 18.33 crore during the previous quarter ended March 2023. Sales rose 37.03% to Rs 1144.56 crore in the quarter ended March 2024 as against Rs 835.27 crore during the previous quarter ended March 2023.

For the full year,net profit rose 334.92% to Rs 113.21 crore in the year ended March 2024 as against Rs 26.03 crore during the previous year ended March 2023. Sales rose 56.15% to Rs 3502.87 crore in the year ended March 2024 as against Rs 2243.28 crore during the previous year ended March 2023.

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Revenue from operations increased 37.03% to Rs 1,144.56 crore in fourth quarter of FY24 from Rs 835.27 crore recorded in the corresponding quarter previous year.

Profit before tax soared to Rs 66.71 crore in March 2024 quarter, as compared to Rs 22.96 crore in same quarter last fiscal.

On a full year basis, the company’s consolidated net profit zoomed to Rs 113.21 crore in FY24 from Rs 26.03 recorded in FY23. Revenue from operations climbed 56.15% to Rs 3,502.87 crore in FY24 over FY23.

Meanwhile, the board recommended a dividend of Rs 0.50 per share for the financial year 2023-24.

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.

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