RITES Secures $20.6 Million International Locomotive Order from ICVL Mozambique

27 Jan 2026 , 12:21 PM

RITES Ltd on Tuesday, January 27, said it has secured an international order from ICVL Mozambique for the supply and maintenance of diesel electric locomotives.

In a regulatory filing, the company said it has received a Letter of Intent for the supply of new Cape Gauge diesel electric locomotives, along with preventive maintenance services and supply of consumable spares at site. The order awarded by ICVL Mozambique is valued at $20.6 million, which is approximately ₹171 crore.

As per the contract terms, the supply of locomotives is to be completed within 15 months, while the maintenance services will be provided over a 24 month period.bThe company said the order strengthens its overseas order book.

In December, RITES received another international contract valued at $3.6 million from Berhard Development Corporation Private Ltd, Zimbabwe, for the supply of in service Cape Gauge diesel electric locomotives. For the September quarter, the company reported a 21.4 percent year on year decline in net profit to ₹110.17 crore, compared with ₹140.2 crore in the year ago period.

RITES attributed the decline in net profit to a decrease in revenue during the quarter. Consolidated income for Q2 FY26 declined to ₹608.81 crore from ₹684.30 crore reported in the corresponding quarter last year. Operating margin during the second quarter stood at 25.8 percent, compared with 28.56 percent in the year ago period.

For feedback and suggestions, write to us at [e-mail]