Oriental Rail Infra gains on bagging Rs 1.42-cr order

Oriental Rail Infrastructure added 1.92% to Rs 299.50 after the company announced that it has secured an order worth Rs 1.42 crore from Integral Coach Factory (ICF), Chennai, Indian railways.

The project entails supply and installation of 16 sets of seats and berths with hardwares for LWSCN PP coach.

The cost of the project is Rs 1,42,95,936 and it is to be executed within 13 October 2024.

The company said that the delivery is to be made to Furnishing Depot/ICF, Chennai. Further, 90% of payment to be received against Inspection Certificate issued by the nominated inspection agency as specified in the contract and proof of dispatch/delivery of the material and balance 10 % after receipt, inspection and acceptance of the goods, it added.

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 grew 7.7% to Rs 5.86 crore on 32.6% jump in net sales to Rs 123.06 crore in Q1 FY25 over Q1 FY24.

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