Texmaco Rail & Engineering Ltd. announced the outcome of its Board Meeting held on February 9, 2026. The Board approved the Unaudited Standalone and Consolidated Financial Results for the quarter and nine months ended December 31, 2025. Crucially, the Board also approved a proposal to vary the objects for utilizing unutilized funds from a prior Preferential Issue, shifting funds from Capital Expenditure towards Working Capital requirements, subject to shareholder approval.
Board Meeting Outcome: February 9, 2026
The Board of Directors of Texmaco Rail & Engineering Limited met on February 9, 2026, commencing at 12:15 p.m. and concluding at 03:45 p.m. The meeting resulted in the approval of key financial outcomes and strategic proposals.
Financial Performance Highlights (Q3 FY2025-26)
The Board approved the Unaudited Standalone and Consolidated Financial Results for the quarter and nine months ended December 31, 2025. These results were submitted along with a Limited Review Report from the Statutory Auditors, which contained an unmodified opinion.
Examining the Standalone segment results for the quarter ended December 31, 2025 (Page 2):
- Total Income: ₹1,09,743.27 Lakhs.
- Total Expenses: ₹1,03,607.39 Lakhs.
- Profit Before Tax (PBT): ₹6,135.88 Lakhs.
- Net Profit After Tax: ₹4,701.97 Lakhs, attributable to owners of the Parent.
- Earnings Per Share (Basic): ₹1.18.
The Consolidated segment results for the quarter ended December 31, 2025 (Page 2):
- Total Income: ₹1,33,423.10 Lakhs.
- Total Expenses: ₹1,24,109.15 Lakhs.
- Profit Before Tax (PBT): ₹9,964.54 Lakhs.
- Net Profit After Tax: ₹6,392.20 Lakhs, attributable to owners of the Parent.
- Earnings Per Share (Basic): ₹1.62.
Key Corporate Actions Approved
The Board also approved the following significant actions:
Variation in Objects of Preferential Issue Funds
A proposal was approved for a Variation in the objects relating to utilization of funds from Preferential Issue (approved by shareholders on April 8, 2024). The unutilized amount of ₹103.43 Crore originally earmarked for Capital Expenditure (expansion of manufacturing facilities for Rolling Stock components at Paradip, Odisha, & Kolkata/Howrah, West Bengal) will now be deployed towards the object of “Funding working capital requirements of the Company.” This variation requires further shareholder approval.
Monitoring Agency Report Noted
The Board noted the Monitoring Agency Report issued by CARE Ratings Limited for the quarter ended December 31, 2025, related to the preferential issue (Annexure B).
Monitoring Agency Report Findings (Annexure B Summary)
The Monitoring Agency Report confirmed that for the quarter ended December 31, 2025, no amount has been utilized from the proceeds raised for the objects.
Utilization Status (Objects Monitored)
The total amount raised till December 31, 2025, was ₹142.77 Crore against a proposed ₹150.00 Crore (Page 13).
- Capital Expenditure Object: Amount proposed was ₹115.00 Crore. Unutilized amount remaining is ₹103.43 Crore. The Board noted that the project progress is slow due to prevailing global uncertainties.
- General Corporate Purposes: Amount proposed was ₹35.00 Crore. Unutilized amount remaining is ₹35.00 Crore, as this portion has not yet been utilized.
The Monitoring Agency also noted that warrants amounting to ₹5.42 crore lapsed in October 2025, leading to the forfeiture of the proportionate upfront payment of ₹1.81 crore. The management confirmed that any resulting shortfall will be met out of internal accruals.
Amalgamation Impact
The company explicitly notes that the financial results are not comparable with the corresponding quarter ended December 2024 due to the impact of the Scheme of Amalgamation of Texmaco West Rail Limited, which was recognized in the quarter ended September 2025 (appointed date April 1, 2025).
Source: BSE
