Texmaco Rail & Engineering Ltd. received an order worth Rs 187 crore from Chhattisgarh State Power Transmission Co. on Monday for construction of transmission lines, according to an exchange filing.
The project involves building nine 132-kilowatt transmission lines on a turnkey basis of nearly 291 kilometres in Chhattisgarh. The construction will be executed over a period of 15 months, it said.
Texmaco manufactures railway freight cars, locomotive shells and components, passenger coaches and metro coaches. It operates through three business segments, freight car (freight car manufacturing, steel foundry and components systems), infra–rail and green energy and infra– electrical.
In the September quarter, net income from the electrical infrastructure vertical was 6% of the total turnover of Rs 1,346 crore. The company's order book as of Sept. 30 is Rs 8,194 crore and the share of electrical infrastructure was 22%.
Texmaco posted a net profit of Rs 74.1 crore in the second quarter of the current financial year in comparison to Rs 24.6 crore in the same quarter last fiscal. Revenue rose 67% to Rs 1,346 crore in the September quarter from Rs 805 crore in the year-ago period.
The earnings before interest, taxes, depreciation and amortisation, rose 74% to Rs 132 crore from Rs 76.2 crore. The Ebitda margin expanded to 9.8% from 9.5% in the same period last year.
Shares of Texmaco closed 0.63% higher at Rs 229.17 apiece on the National Stock Exchange, compared to a 0.4% decline in the benchmark Nifty. The share price has risen 34% on a year-to-date basis.
Four analysts tracking the company have a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 30%.
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