Braithwaite & Co Ltd, a heavy engineering unit under the ministry of railways, is on a revival track and has posted a net profit of Rs 3 crore in the last financial year, the company’s chairman and managing director Yatish Kumar said on Wednesday.

Kumar, who took charge in May, said he expected the net profit to rise to Rs 10 crore by the end of the current financial year.

The company aims to generate a major part of its revenues from wagon manufacturing as it is equipped to make all kinds of freight coaches.

At present, the company earns nearly 50 per cent of its revenues from wagon repairs and a little less than 50 per cent from wagon manufacturing. A small portion of the revenue comes from miscellaneous businesses such as crane manufacturing and fabrication.

“In four months, we aim to change the ratio. Eighty per cent of the revenue would come from wagon manufacturing,” said Kumar, who was speaking to reporters on the sidelines of a conference on manufacturing organised by the Confederation of Indian Industry.

“We are manufacturing 80 wagons a month now. By the end of this financial year, we want to make it 200 wagons a month. We have the capacity to do that,” said Kumar, a mechanical engineer.

The CMD of the railways undertaking added that Braithwaite was trying to increase production at Victoria Works in Garden Reach and Angus Works in Hooghly’s Bhadreswar.

Braithwaite has 300 permanent employees, with 57 of them being executives.

Kumar said Braithwaite was dealt a devastating blow in 2013-14 when it suffered a Rs 42-crore loss because of a sudden fall in wagon prices. The prices of wagons fell Rs 5 lakh for each unit.

“The sudden fall in prices after we had taken the orders and manufactured many of the wagons hurt the company. So, we slipped into losses. But now we have posted a Rs 3-crore profit last year,” said Kumar.

“I think we can post Rs 10-crore profit in 2018-19 financial year,” he added. Wagon repair contracts from the Indian railways, the parent organisation of Braithwaite, helped the company to report profit in the last financial year.

Kumar said that Braithwaite had also delivered 15 milk tanks to Amul in the last three months.

The company is also likely to get casting orders from the Myanmar railways, whose officials visited the Calcutta-based company recently and informed Braithwaite that they would place the orders.