Rs 1,349.65 crore order book: Board of this Rail Infrastructure Company Allots 25,00,000 Equity Shares on Conversion of Warrants to Promoter - Wazeera S Mithiborwala
As of September 2024, an ace investor, Mukul Agrawal owns a 5.53 per cent stake in the company.
Oriental Rail Infrastructure Limited is issuing 25,00,000 Equity Shares through a Preferential Issue to Wazeera S Mithiborwala, a member of the Promoter Group. This issuance is pursuant to the conversion of 25,00,000 Warrants. The Equity Shares will be issued for Rs 169 per share (including a premium of Rs 168). Post-allotment, the Promoter Group's holding will increase to 54,47,000 Equity Shares. The Warrants/resulting Equity Shares will be subject to lock-in periods as per SEBI (ICDR) Regulations.
Earlier, Oriental Rail Infrastructure Limited informed that it had secured orders worth Rs 2,15,59,179.64 from Rail Coach Factory (RCF), Kapurthala, Indian Railways. The orders were for the Manufacturing and Supplying of 9 Sets of 'Seats' for LHB non-AC chair car coaches (108 seats) and 9 Sets of 'Seats' for LHB 2nd AC chair car coaches (78 seats). Delivery was to be made to RCF Furnishing Depot. Payment terms stipulated 95 per cent upon receipt of the Inspection Certificate from the nominated agency and proof of dispatch, and the remaining 5 per cent upon receipt, inspection, and acceptance of the goods. These orders were awarded by a domestic entity (Rail Coach Factory, Kapurthala) and were to be executed by May 29, 2025.
About the Company
Oriental Rail Infrastructure Ltd (BSE Scrip Code: 531859) is engaged in the manufacturing, buying, and selling of all types of recron, seat & berth and compreg boards and is also engaged in trading timber woods and all its products. The company has a market cap of over Rs 2,400 crore. The company reported positive numbers in its Quarterly Results and annual results. Additionally, Oriental Rail Infrastructure announced that the company along with its subsidiary company (Oriental Foundry Private Ltd) has total orders in hand of approx. Rs 1,349.65 crore.
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According to quarterly results, the company reported net sales of Rs 186 crore and a net profit of Rs 10 crore in Q2FY25 while in its annual results, the company reported net sales of Rs 526 crore and a net profit of Rs 30 crore in FY24.
As of September 2024, an ace investor, Mukul Agrawal owns a 5.53 per cent stake in the company. The stock gave multibagger returns of 235 per cent in just 2 years and a whopping 1,100 per cent in a decade. Investors should keep an eye on this rail infrastructure stock under the radar.
Disclaimer: The article is for informational purposes only and not investment advice.