Shares of Texmaco Rail & Engineering Ltd climbed 2.95% to ₹182 in early trade on June 11 after the company announced that it secured a ₹44.04 crore order from Mumbai Railway Vikas Corporation Limited (MRVC). The stock rose from its previous close of ₹176.78, reacting positively to the announcement made via a regulatory filing on Tuesday.
The scope of the newly awarded project includes the supply, construction, installation, testing, and commissioning of a 1X25 kV 110/25 kV traction substation (TSS) with 40/56 MVA AC traction transformers, two sectioning posts (SPs), and associated infrastructure for the Central Railway’s third and fourth lines. The project is expected to be completed within 18 months.
Texmaco also recently reported its financial results for the fourth quarter. Revenue rose 17.5% year-on-year to ₹1,346.4 crore, driven by consistent execution across its railway and engineering verticals. EBITDA for the quarter stood at ₹97.6 crore, up 14.7% YoY, with operating margins steady at 7.3%. However, net profit declined 12% to ₹40 crore from ₹45 crore in the same period last year.
In a strategic move towards international expansion, the company also made an initial investment of AED 50,000 in its newly-incorporated wholly-owned subsidiary, Texmaco Middle East DMCC, during the March quarter.
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