Texmaco Rail & Engineering Limited has announced the receipt of a substantial order valued at ₹362.85 crores from IVC Logistics Limited. The order entails the supply and manufacturing of 464 wagons, specifically Auto Car Taller wagon type ACT 3 and Brake Van type BVCM wagons. This significant contract underscores Texmaco Rail’s growing presence in the railway rolling stock manufacturing sector and is expected to contribute positively to its financial performance.
Texmaco Rail Secures Major Wagon Manufacturing Contract
Texmaco Rail & Engineering Limited has been awarded a significant new order by IVC Logistics Limited. The contract, valued at ₹362.85 crores (including taxes), is for the supply and manufacturing of railway wagons.
Order Details
The order comprises the production of 464 wagons, specifically the Auto Car Taller wagon type ACT 3 and the Brake Van type BVCM wagon. This large-scale order highlights Texmaco Rail’s capability in manufacturing diverse types of rolling stock to meet the demands of the logistics sector.
Contract Terms
The terms and conditions of the contract are brief, focusing on the supply and manufacturing of the specified wagon types. The order has been awarded by a domestic entity and is to be executed on a mutually agreed basis. The substantial consideration of ₹362.85 crores demonstrates the scale and importance of this contract for Texmaco Rail & Engineering Limited. The company has confirmed that the promoter/promoter group and group companies have no interest in the entity that awarded the order, and the transaction is not considered a related party transaction conducted at arm’s length.
Source: BSE
