Texmaco Rail bags order for 1,621 wagons

Texmaco Rail & Engineering has received an order for 1621 wagons valuing approximately worth Rs. 500 crore. The company has received the said order against the recent Railway tender for wagons issued by the Indian Railways, part quantity of which has been finalised till now, according to company’s filing with bourses.

The company’s order book for the September 2018 ended quarter was at Rs. 5800 crore, which gives strong revenue visibility for the foreseeable future. While in Q2FY19, the company recorded stellar growth of almost 70 per cent in its top-line to Rs. 325.9 crore from corresponding quarter of previous year. The company managed to turnaround its bottom-line to Rs. 12.8 crore in Q2FY19 from loss of Rs. 0.83 crore.

Texmaco Rail & Engineering is one of India’s leading freight car manufacturers and diversified engineering company. The company is the largest supplier of wagons to the Indian Railways in India with strong in-house capabilities for the design and manufacture of special purpose wagons.

However, on Friday, the stock of Texmaco Rail declined almost 3.3 per cent from previous close to touch intra-day low of Rs. 58.20 and finally closed at Rs. 58.6 apiece.