Texmaco Rail receives order from Indian RailwaysTEXINFRA - 70 Change: 2.40 (3.56 %)
News: Texmaco Rail & Engineering has received an order for 20,067 wagons against the recent Railway tender for wagons issued by the Indian Railways. The contract value is about Rs. 6,450 crores and will be executed over a period of 39 months.
Views: This is a significant order for Texmaco considering that the company’s TTM revenues at ~Rs 1780 crore. We believe that Indian Railways has already started the procurement of more than 1,00,000 wagons to cater to future demand for coal which will improve wagon availability in the country. This mega tender is a part of Indian Railways' strategy to move closer to its goal of ferrying a much higher share of cargo in the country, to about 35% by 2031, from 26-27% at present.