Braithwaite & Co. Ltd, a mini ratna company under the Union ministry of railways, plans to achieve a net worth of close to Rs 200 crore by March 31 and hopes to cut down on its overhead-to-sales ratio to less than 6 per cent.

The net worth of the company was Rs 150.59 crore in 2021-22, up from Rs 63.68 crore in 2018-19 when it had received an equity infusion of Rs 50 crore from the government.

The company’s chairman and managing director Yatish Kumar said the business growth plan involves reaching a turnover of close to Rs 2,500 crore by FY2026 along with a profit before tax of around Rs 128 crore. This will pave the way for an eventual listing on the stock exchanges.

“Braithwaite has become a debt-free company,” Kumar said at an event organised by the Merchants Chamber of Commerce on Wednesday. He said that the company’s revenue and the order book have grown significantly supported by diversification into service areas such as the operation and maintenance of railway workshops.

The company has also expanded into container manufacturing, renewable energy projects, railway station development, bridge construction and fabrication, and crane manufacturing.