Texmaco Rail and Engineering Limited — a diversified engineering and infrastructure company — is hoping to double its business over the next five years. Texmaco Rail, part of Saroj Poddar-led Adventz group, has strengthened its presence in EPC (engineering, procurement and construction) business and has plans to evaluate orders in the defence sector in the coming years.
The company had posted a gross revenue from operations of Rs 1,829.3 crore in 2020-21 down from Rs 2,020.3 crore in 2019-20 with the Covid pandemic and cyclone Amphan affecting operations.
“Our vision is to try to double the size of the business over five years. The company has so many good assets. From a predominantly wagon and signalling company we have diversified into EPC, which constitutes around 40 per cent of the business.
“The company also has a healthy order book, including exports, with Africa and West Asia among the key markets. We have also strengthened the manufacturing side by acquiring the steel casting foundry at Urla in Raipur, Chhattisgarh (from Simplex Castings),” said the company’s managing director Indrajit Mookerjee.
“We will evaluate orders in the defence business over the coming years,” he added.
The thrust of Indian Railways towards electrification and switch to electric traction over the next two years along with plans for inducting specially designed container wagons to run on the freight corridors is also expected to push the demand for electric locomotives and wagons.
“We are seeing a good demand for wagons, especially from the private sector. The company is focusing on developing new products. The schemes announced by the railways would lead to demand for various types of wagon. Work is also going on the dedicated freight corridors, particularly on the western side. On the EPC side we are seeing good growth prospects with the upgradation of rail infrastructure under the ambitious National Infrastructure Pipeline,” said Ashish Gupta, deputy managing director of the company.
Texmaco Rail had a consolidated order book of Rs 3,400 crore as of the quarter ended June 30, 2021.
