Texmaco Rail & Engineering Ltd, a Adventz group company, has agreed to acquire 76 percent stake in Mumbai-based railway electrification company, Bright Power Projects (India) Pvt Ltd, for an enterprise value of about Rs 100 crore. The acquisition will help Texmaco strengthen its positioning as a total rail solution provider.
Texmaco expects this acquisition to be strategic and complimentary to the existing operations of Kalindee Rail. Bright Power has turnover of about Rs 80 crore in 2014-15 with double digit operating margins and healthy order book of Rs 200 crores as on April 1, 2015 and has recently won two major tenders aggregating to about Rs 100 crore.
Currently, 39.9 percent of the Indian railway has been electrified with the Twelfth five-year plan target of 6,500 km of railway electrification. The current annual run rate of electrification is between 1,300-1,400 km on the existing railway network. This is one of the major focus of the new government.
Texmaco expects this acquisition to be strategic and complimentary to the existing operations of Kalindee Rail. Bright Power has turnover of about Rs 80 crore in 2014-15 with double digit operating margins and healthy order book of Rs 200 crores as on April 1, 2015 and has recently won two major tenders aggregating to about Rs 100 crore.
Currently, 39.9 percent of the Indian railway has been electrified with the Twelfth five-year plan target of 6,500 km of railway electrification. The current annual run rate of electrification is between 1,300-1,400 km on the existing railway network. This is one of the major focus of the new government.
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