Oriental Rail Infra arm bags order worth Rs 1,249 cr from Indian Railways

Oriental Rail Infrastructure announced that its wholly owned subsidiary, Oriental Foundry has received an order from Ministry of Railways, Indian Railways to manufacture and supply 3,055 BOXNHL Wagons worth Rs 1,249 crore.

Ministry of Railways (Railway Board), Indian Railways has increased the order quantity of BOXNHL Wagons from 2,964 Nos. to 3,055 Nos. BOXNHL Wagons (Addition of 91 Nos. BOXNHL Wagons) on the same terms and conditions.

Further, Oriental Foundry, a wholly owned subsidiary of the company, after taking into consideration of previously mentioned additional 91 Nos BOXNHL Wagons, has secured order having total contract value of Rs 1,249 crore for manufacturing and supply of 3,055 BOXNHL wagons (which includes additional 91 Nos Boxnhl wagons) from Indian Railways. Delivery period of the increase quantity would be till August 31, 2024.

As per terms and conditions, 90 % of total cost to be received against inspection certificate issued by the RDSO as specified in the contract and proof of dispatch or delivery of the material and balance 10 % after receipt, inspection and acceptance of the goods.

Oriental Rail Infrastructure is engaged in manufacturing, buying and selling of all type recron, seat & bearth, compreg boards and also trading of timber woods and all its products. The company operates only in one segment i.e Indian Railway products. As on 31 March 2019, the company had 1 wholly owned subsidiary, namely Oriental Foundry.

The companys consolidated net profit stood at Rs 12.51 crore in Q3 FY24, steeply higher from Rs 1.98 crore posted in Q3 FY23. While net sales stood at Rs 146.58 crore in Q3 FY24, registering a growth of 37.9% year on year.

The market cap of Oriental Rail Infrastructure is Rs 1,288.28 crore.

Shares of Oriental Rail Infrastructure were trading lower by 1.57% to Rs 239 on the BSE.

Powered by Capital Market - Live News