Texmaco Rail Secures Major ₹187.4 Crore Transmission Line Deal

17 Dec 2024 , 12:46 PM

Texmaco Rail & Engineering Ltd, Kolkata-based engineering company has won an order worth ₹187.41 crore to build nine 132KV transmission lines stretching around 291 kilometers. The project was awarded to Chhattisgarh State Power Transmission Company Ltd, a state government undertaking, on a turnkey basis.

The Letter of Acceptance, dated December 16, 2024, states that the project will be completed in 15 months. Texmaco Rail is confident about its revenue expansion for FY25, projecting a growth rate nearly two times India’s GDP growth. Indrajit Mookerjee, Executive Director and Vice Chairman, stated that the company has focused on building profitability with a minimum margin of 15-20% against current levels.

In the National Stock Exchange, shares of Texmaco Rail & Engineering Ltd is currently trading at ₹231.41 which is a 2.29% gain than the previosu close. Texmaco Rail & Engineering Ltd shares has gained a total of 66% in the last one year, and 14% since the beginning of the year.

In Q2 FY25, Texmaco witnessed a solid performance in financials, where the company’s Revenue stood at ₹1,345 crore, margins at 9.8% and the net profit stood at ₹72 crore.

Texmaco’s acquisition of Jindal Rail Infrastructure Ltd. at a cost of ₹615 crore, all-cash deal, is likely to support the growth strategy and market positioning. Infrastructure portfolio enhancement remains a crucial factor in developing India’s power and rail sectors, which the company continues to do.