Power and railway equipment producer Hind Rectifiers Ltd. is expanding its manufacturing facilities in Nashik and has also decided to set up a subsidiary for developing high-tech products and solutions in AI, Web3 and others, according to a top official.
Hind Rectifiers' Managing Director and Chief Executive Officer Suramya Nevatia said that the company is actively progressing with capacity expansion plans at the Sinnar and Satpur plants in Nashik along with focus on backward integration which will improve cost efficiency.
The company board has also approved the incorporation of a wholly owned subsidiary focused on developing cutting-edge products and solutions in information technology, artificial intelligence, Web3, and various software, he said.
Hind Rectifier has reported around six-fold jump in net profit to Rs 10 crore for the October-December quarter of 2024-25 driven by order flows and higher income.
Total income jumped by 24% to Rs 169.4 crore in the third quarter of FY25 compared to Rs 136.7 crore in the third quarter of FY24.
The company secured orders worth Rs 229 crore, including a significant Rs 73-crore contract from the Indian Railways, during the quarter under review. The current order book stands at Rs 870 crore as of December 2024, according to a company statement.
''The company's order book remains strong at Rs 900 crore, with strong order pipeline, primarily driven by the government's continued focus on the railway sector and upcoming opportunities within the industry, Nevatia said.
The company manufactures power electronic and semiconductor equipment and railway transportation equipment. Shares of the company closed higher by 1.77% at Rs 1,131 apiece on BSE.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
