Indo-National spurts on bagging order worth Rs 113 cr from ICF

Indo-National jumped 12.34% to Rs 383.80 after the company said that its subsidiary, Kineco had bagged Rs 113 crore order for supply and installation of modular interiors for Vande Bharat semi-high speed trains, from, Integral Coach Factory, Chennai.

Earlier this year, Kineco was also awarded with the largest order of 68 Train Fronts of the same Vande Bharat Trains. These orders, together with its already strong order book will catapult Kineco to become one of India's largest train interior supplier, the company stated in the press release.

'Vande Bharat' Train is India's first semi-high speed and is designed & manufactured under the Indian Government's Make in India initiative, by Integral Coach Factory (ICF), Perambur Chennai- the oldest and largest train manufacturing arm of the Indian Railways.

On this occasion, Kineco's Founder and managing director, Shekhar Sardessai said, We feel proud to win this prestigious order and be a part of the 'Make in India' story. Since many years Kineco has been on the forefront of the Indian Railway Modernization Drive and this order gives us yet another opportunity to showcase our expertise in delivering world class products, using the latest proprietary technologies.

Kineco's IRIS certified Railway Division has been supplying world class composite products to Indian Railways for more than fifteen years, with several innovative product developments to its credit. Kineco has a strong presence in the segment of design to build turnkey railway interior projects for new and refurbished coaches and currently is among few players in India qualified for such projects.

Indo National is in the business of manufacture and marketing of batteries, torches, LED products, mosquito bats, Electrical accessories and Razors & Blades. Nippo is the first Indian dry battery company to have been certified with ISO 9001 and ISO 14001

The company reported a net loss of Rs 2.06 crore in Q1 FY23 as against Rs 2.99 crore posted in Q1 FY22. Net sales jumped 24.5% year on year to Rs 130.70 crore in Q1 FY23.

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