Rs 6,355 Crore Order Book: LIC-Backed Railway Infra Company Bags an International Order Worth USD 5.40 Million from Ntokoto Rail Holdings!
LIC holds a 6.27 per cent stake in the company as per Q1 FY25.
RITES a prominent transport infrastructure consultancy has secured an international order from Ntokoto Rail Holdings Pty. Ltd. for the supply and commissioning of overhauled in-service Cape Gauge ALCO Diesel Electric Locomotives.
These locomotives will be equipped with new Cape Gauge bogies, traction motors, and control systems, along with air brakes, all overhauled at a designated facility. The contract includes on-site warranty support for 1 year. The order is to be executed within 6 months, with a total contract value of USD 5.40 million (CIF).
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Today, the company’s shares closed at around Rs 300.60 per share on the BSE. The company’s current market capitalization stands at Rs 14,446 crore. Additionally, the shares have delivered a return of around 25 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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Investors must keep this stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.