Texmaco records net profit of Rs 30.48 cr

Net sales for the quarter was at Rs 213.07 crore, an increase of 94 per cent over the same period last year.

For the year ended March 31, 2008 turnover shot up by 97 per cent to Rs 937.18 crore while net profit rose 143 per cent to Rs 69.09 crore.

The company has maintained a CAGR of more than 48 per cent for the last years and the current order book is over Rs 2,000 crore.

The wagon turn-out was higher by 45 per cent to the Indian Railways and private operators. The total orders booked by the company during the year were for 6,814 wagons valued at Rs 1,100 crore.

The steel foundry division achieved the highest ever production of 19,792 tons and turnover of Rs 173.40 crore, which are 47 per cent and 33 per cent higher respectively.

Further Texmaco is diversifying in the area of EMU coaches and loco components and the preparatory work has been taken up on developmental orders received from Railways and Chittaranjan Locomotive Works.

The company is also working on the expansion of the new foundry, which would be completed by the middle of 2009, which would raise the capacity to 40,000 tonnes per year.