The company, in an exchange filing on Tuesday, said that Tsiko Africa Logistics with Barberry Holdings has issued the letter of award for the supply of Wabtec ES43ACi diesel-electric locomotives.
As per the scope of the order, Texmaco Rail will be responsible for the design, manufacture, supply and commission of Wabtec ES43ACi-4500 HP diesel-electric locomotives.
The order is to be executed within 20 to 24 months from the signature of the definitive agreement, the exchange filing stated.
Last week, Texmaco Rail inked a memorandum of understanding with Germany-based Bochumer Verein Verkehrstechnik GmbH (BVV) to explore a JV in India for railway wheelsets, wheels, axles and related components.
Texmaco Rail reported its first quarter earnings last month. The company’s net profit increased 66.8% to ₹50 crore from ₹30 crore last year.
Its revenue of ₹757 crore was 16.9% lower than the previous fiscal’s ₹911 crore.
The company’s earnings before interest tax depreciation and amortization (EBITDA) declined 19.6% to ₹57 crore from ₹71 crore in the first quarter last year.
Its margins were flat at 8% compared to the year-ago period.
Shares of Texmaco Rail increased 7.3% to hit an intraday high of ₹116.9 apiece on Tuesday. The stock has cooled off from the initial spike, currently trading 3.3% higher at ₹112.5. The stock is still down 18% so far this year.
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