Kolkata, January 31, 2025 – Texmaco Rail & Engineering Limited (NSE: TEXRAIL) has reported its unaudited financial results for the quarter and nine months ended December 31, 2024, showcasing strong revenue growth and strategic corporate developments.
Financial Highlights (Standalone)
(Figures in ₹ Lakhs)| Particulars | Q3 FY25 (Dec 2024) | Q2 FY25 (Sep 2024) | Q3 FY24 (Dec 2023) | 9M FY25 (Apr-Dec 2024) | 9M FY24 (Apr-Dec 2023) |
|---|---|---|---|---|---|
| Revenue from Operations | 1,08,587.90 | 1,11,628.78 | 89,643.70 | 3,09,382.04 | 2,35,830.54 |
| Total Income | 1,09,743.27 | 1,13,485.69 | 90,874.51 | 3,15,037.79 | 2,41,784.82 |
| Total Expenses | 1,03,607.39 | 1,06,458.77 | 85,648.57 | 2,95,413.37 | 2,31,116.51 |
| EBITDA | 9,429.68 | 11,120.71 | 8,609.83 | 28,686.07 | 20,126.41 |
| Profit Before Tax | 6,135.88 | 7,026.92 | 5,225.94 | 19,624.42 | 10,668.31 |
| Net Profit After Tax | 4,701.97 | 4,844.79 | 2,936.78 | 13,571.41 | 6,569.71 |
| EPS (Basic) (₹) | 1.18 | 1.21 | 0.89 | 3.40 | 1.99 |
Segment Performance
- Freight Car Division: ₹87,476.76 lakh revenue, forming the bulk of Texmaco's earnings.
- Infra - Rail & Green Energy: ₹10,963.81 lakh, a decline from ₹14,219.69 lakh YoY.
- Infra - Electrical: ₹10,147.33 lakh, a rise from ₹6,866.25 lakh YoY.
Key Corporate Developments
- Amalgamation of Texmaco West Rail Ltd.
- The Board approved the merger of its wholly owned subsidiary Texmaco West Rail Limited into the parent entity. The move aims to streamline operations and enhance shareholder value.
- Withdrawal of Infra-Rail & Green Energy Demerger Plan
- Initially planned for demerger into M/s. Belgharia Engineering Udyog Private Limited, the company decided to withdraw the scheme due to evolving commercial considerations.
- Fund Utilization from Capital Raise
- Qualified Institutional Placement (QIP): ₹750 crore raised in Nov 2023, fully utilized for capex, debt repayment, and working capital.
- Preferential Issue (April 2024): ₹150 crore, of which ₹37.50 crore received, primarily for expanding manufacturing facilities in Odisha and West Bengal.
Management Commentary
Sudipta Mukherjee, Managing Director of Texmaco Rail, stated:"Our Q3 results reaffirm Texmaco's growth trajectory, driven by strong freight car demand and operational efficiencies. The strategic merger of Texmaco West Rail will strengthen our market positioning. Looking ahead, we remain committed to capital efficiency, expansion, and delivering value to our stakeholders."
Strategic Outlook
- Continued focus on railway infrastructure expansion under the Indian government's infrastructure push.
- Expansion of manufacturing capacity to cater to increased demand in rolling stock components.
- Strengthened financial position post capital infusion, aiding future expansion.
Stock Impact: The positive financial performance, strategic merger, and prudent capital allocation are likely to boost investor sentiment, making Texmaco a key stock to watch in the industrial manufacturing sector.