Rs 6,355 Crore Order Book: LIC-Backed Railway Infra Company Bags Order Worth Rs 100 Crore and Recently Emerged as L-1 Bidder for Delhi Metro Rail Corporation Tender!
LIC holds a 6.27 per cent stake in the company as per Q1 FY25.
RITES has received a Letter of Award from Adani Ports & SEZ Limited (APSEZ) for providing Railway Operation & Maintenance Services at Dhamra Port Company Ltd. The contract will be executed over five years, starting from the effective date of November 1, 2024. The estimated value of the contract is approximately Rs 100 crore, plus GST.
Furthermore, RITES Consortium has emerged as the lowest bidder (L-1) in the tender issued by Delhi Metro Rail Corporation Limited (DMRC) for the "Retrofit Work in RS-1 Trains of DMRC." The contract is pending final award after the necessary scrutiny and evaluation by DMRC as per the tender requirements. The estimated value of the bid is approximately Rs 87.58 crore, including GST, with RITES' share being around Rs 42.91 crore, including GST. The project is to be executed within 3 years from the date of issuance of the Letter of Award
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On Friday, RITES's shares closed at around Rs 325.40 per share on the BSE. The company’s current market capitalization stands at Rs 17,224 crore. Additionally, the shares have delivered a return of over 40 per cent in just one year.
As per the Quarterly Results, in the first quarter of FY25, RITES recorded a revenue of Rs 486 crore. The operating profit for Q1 FY25 stood at Rs 106 crore, and the net profit was Rs 90 crore. Looking at the annual performance, the company generated a revenue of Rs 2453 crore in FY24. The operating profit for FY24 was Rs 661 crore, with a net profit of Rs 495 crore, compared to a net profit of Rs 571 crore in FY23.
According to the company's shareholding pattern, the promoters hold a significant 72.20 per cent stake. Public investors own 15.42 per cent of the shares, while foreign institutional investors (FIIs) hold 2.73 per cent and Domestic Institutional Investors (DIIs) own 9.64 per cent.
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Disclaimer: The article is for informational purposes only and not investment advice.