Shares of Texmaco Rail & Engineering Ltd were trading in the green and 1% higher on 29 May after the company announced a Rs 140 crore order for multi-purpose wagons.

Texmaco Rail obtained the order from the Railway Board under the Ministry of Railways on 28 May, according to an exchange filing.

Moreover, this agreement calls for the production and supply of eight rakes of flat multi-purpose wagons.  Texmaco Rail is scheduled to execute the order within the next six months.

In February of this year, Texmaco Rail and Polish technology firm Nevomo inked a Memorandum of Understanding (MoU). This agreement included the development of next-generation Magrail technology, linear propulsion systems, and AI-powered railway advances.

The railway company’s net profit decreased by 12% to Rs 40 crore in the March quarter, compared to Rs 45 crore in the same period the previous year.

Texmaco Rail’s revenue increased by 17.5% to Rs 1,346.4 crore, while EBITDA improved by 14.7% to Rs 97.6 crore.

At 1:46 pm, the shares of Texmaco Rail were trading 1.05% higher at Rs 161.45 on NSE.

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