Rs 8,000 crore order book & FIIs increase stake: This multibagger railway wagon stock reported stellar quarterly and half-yearly results!

The stock gave multibagger returns of 190 per cent in just 1 year, 325 per cent in 2 years and a whopping 500 per cent in 3 years.

On Monday, one of the Top Gainers on BSE, shares of Texmaco Rail & Engineering Ltd surged 12 per cent to an intraday high of Rs 150 per share. At the closing bell, shares of the company were trading at Rs 138 per share, up 3.10 per cent with a spurt in volume by more than 6.28 times on BSE.

The company announced its stellar Quarterly Results and half-yearly results which was the main reason for the increase in stock price. Here are the details:

Quarterly Results: The 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 in Q2FY24 compared to Q2FY23. The FIIs have increased their stake from 2.15 per cent to 2.30 per cent in September 2023.

Half-yearly Results: The net sales increased by 86.67 per cent to Rs 1,461.87 crore and operating profit increased by 187.33 per cent to Rs 138.49 crore in H1FY24 compared to H1FY23. The company reported a turnaround story wherein it reported a net profit of Rs 28.74 crore in H1FY24 whereas a net loss of Rs 12.47 crore in H1FY23.

According to the annual results, the net sales increased by 38.28 per cent to Rs 2,243 crore and net profit increased by 11.11 per cent to Rs 20 crore in FY23 compared to FY22. As of August 31, 2023, the company’s order book stands at over Rs 8,000 crore while the company’s market cap is Rs 4,442 crore. The company has been maintaining a healthy dividend payout of 21 per cent.

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 190 per cent in just 1 year, 325 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.