Rs 7,800 crore order book & FIIs bought 4,76,779 shares: This multibagger railway wagon company reports a 70 per cent jump in net profit!

The stock gave multibagger returns of 183 per cent in just 1 year, 300 per cent in 2 years and a whopping 500 per cent in 3 years.

Texmaco Rail & Engineering Ltd announced its stellar Quarterly Results, half-yearly results, FIIs update & order book update. Here are the details:

FIIs Update: In the June 2023 quarter, foreign institutional investors (FIIs) held 69,31,248 shares or 2.15 per cent of the company's stock. In the September 2023 quarter, FIIs bought 4,76,779 shares and increased their stake to 74,08,027 shares, or 2.30 per cent of the company's stock.

Order Book Update: As of September 2023, the company’s order book stands at Rs 7,800 crore. The Budgetary outlay for railways in Union budget 24 was Rs 2.4 lakh crore. The company has won its largest-ever order of 20,000+ freight cars from Indian Railways wherein its execution is underway.

Quarterly Results: In the second quarter of fiscal year 2024, the company's net sales increased by 66.19 per cent to Rs 805.05 crore, operating profit increased by 52.29 per cent to Rs 81.61 crore, and net profit increased by 70 per cent to Rs 20.20 crore, compared to the second quarter of fiscal year 2023.

Half-yearly Results: After a net loss of Rs 12.47 crore in H1FY23, the company reported a turnaround story in H1FY24, with net sales increasing by 86.67 per cent to Rs 1,461.87 crore and operating profit increasing by 187.33 per cent to Rs 138.49 crore, resulting in a net profit of Rs 28.74 crore.

For the financial year 2023, the company reported a 38.28 per cent increase in net sales to Rs 2,243 crore and an 11.11 per cent increase in net profit to Rs 20 crore, compared to the financial year 2022. The company has also been maintaining a healthy dividend payout of 21 per cent.

On Thursday, shares of Texmaco Rail & Engineering Ltd gained 0.97 per cent to Rs 135.95 per share from its previous closing of Rs 134.65 per share. The company has a market cap of Rs 4376 crore.  

Texmaco Rail & Engineering Ltd is an engineering infrastructure company & part of the Adventz Group. The company is involved in the business of manufacturing rolling stock, hydro-mechanical equipment, steel castings & construction of Rail EPC, bridges, and other steel structures.

The stock gave multibagger returns of 183 per cent in just 1 year, 300 per cent in 2 years and a whopping 500 per cent in 3 years. Investors should keep an eye on this railway wagon stock.

Disclaimer: The article is for informational purposes only and not investment advice.