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Texmaco eyes Rs 8 lakh railways capex to turn around company fortunes

Adventz group promoted Kolkata-based Texmaco  Rail & Engineering Ltd is aiming for robust growth rebound by focusing on Rs 8 lakh capital expenditure(capex) outlay of Indian railways, says a note on 21st August. With the focused improvement on vast but ageing infrastructure of the Indian Railways, it has committed to invest more than Rs 8 lakh crore capital expenditure to ramp up the infrastructure which presently is highly congested, the company said.

 Railways’ plan to de-congesting the route by heavily investing in doubling and tripling the tracks and its speedy electrification along and push for completion of DFC Projects shall propel the growth in Rail EPC, Rolling Stock and other Heavy Engineering Divisions of the Company. The strategic acquisition and merger of Kalindee will propel the growth in near future, the company added.

 The Railways has also planned to retrofit and refurbish its 40,000 old coaches which has opened up newer business opportunities for the Company, where Texmaco sees huge potential awaiting to be tapped. The expansion of metro network all over India is encouraging news for its Rail EPC business. With large opportunities being thrown open in Rail Sector, the modern and efficient infrastructure created by the Company over the years shall start bearing fruits.

  Sluggish economy hits profitability

 The Company had recorded the Profit before Tax and Profit after Tax for the year ended 31st March 2017 at Rs 4,20.16 crore and Rs 3,3.57 crore respectively. The working results were impacted due to general sluggishness in the economy and inadequate orders at un-remunerative prices released by the Railways. It was further worsened by unhealthy competition in the Industry due to very small quantity offered for procurement by Railways. In the light of the above, the earnings of the Company suffered during the year. The Company is, inter alia, involved in the business of manufacturing of rolling stock, hydro mechanical equipments, steel castings, Rail EPC, bridges and other steel structures.


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