Texmaco Rail & Engineering Ltd Share Price

History of Texmaco Rail & Engineering Ltd

Texmaco Rail & Engineering Limited was originally incorporated on June 25, 1998 as a Private Limited Company with the name 'Texmaco Machines Private Limited'. On March 3, 2010, the Company converted into a Public Limited and the name was changed to Texmaco Machines Limited. On April 23, 2010, name of the Company was changed from Texmaco Machines Limited to Texmaco Rail & Engineering Limited. In September 2010, as per Scheme of Arrangement, the Heavy Engineering and Steel Foundry Divisions of Texmaco Limited got demerged and was transferred to the Company effective April 1, 2010. In consideration of demerger of Heavy Engineering and Steel Foundry businesses of Texmaco Limited as above, the Company as per the Scheme of Arrangement allotted one Equity Share of Re.1/- each fully paid up ag ...ainst one Equity Share of Re.1/- each of Texmaco Limited held by its Members . The Company manufactures a diverse range of products viz. Railway Freight Cars, Hydro-mechanical Equipment & Industrial Structural's, Loco Components and Loco Shells, Steel Girders for Railway Bridges, Steel Castings, and Pressure Vessels, etc. along with EPC contracts for Execution of Railway Track, Signaling & Telecommunication Projects, Rail Electrification & Automatic Fare Collection etc. on turnkey basis. The Company has strengthen its position as a Total Rail Solution Provider Company. The Company's major operating divisions are the heavy engineering division consisting of wagon, hydro-mechanical equipment and process equipment manufacturing facilities and the steel foundry division. They have five manufacturing facilities in the outskirts of Kolkata, in Agarpara, Belgharia, Sodepur and Panihati. They have their marketing offices in Mumbai, Chennai and Delhi apart from marketing their products through an established network of agents. Their major customers include the Indian Railways, National Hydroelectric Power Corporation Ltd, National Thermal Power Corporation Ltd, Mitsubishi Heavy Industries, Jaiprakash Industries among others. In November 2010, the company joined hands with Bombardier Transportation India Ltd, a 100% subsidiary of global rail equipment major Bombardier Inc to form a consortium and submit a joint bid to the Ministry of Railways for the manufacture of electric locomotives. In December 2010, the company signed a joint venture agreement with Australia's UGL Ltd, an engineering maintenance and facilities management company. As part of this arrangement, the company and UGL together will establish a manufacturing facility based at the company's Belgharia Kolkata site in India. The equity shares of the company were listed on the Bombay Stock Exchange and National Stock Exchange with effect from March 03, 2011. During the year 2012, the Company introduced the latest and most advanced system of Oracle R12 for its operations. The new Coach manufacturing facility at the Company's Sodepur Works was commissioned in 2013-14. Besides, it acquired Kalindee Rail Nirman (Engineers) Limited, a subsidiary company which does EPC contracts for Railways and Metros. The new Coach manufacturing facility at the Company's Sodepur Works was commissioned in 2013-14. Besides, it acquired the shares in Kalindee Rail Nirman (Engineers) Limited, a company which does EPC contracts for Railways and Metros and became a subsidiary of the Company with effect from 31st August, 2015. The first rake of EMU Coaches was commissioned during the year 2015. During the year 2015-16, Company acquired 55% majority stake in Bright Power Projects (India) Private Limited, a rail infrastructure company, and it became a subsidiary of the Company effective 4th January, 2016. The Joint Venture (JV), Texmaco Hi-tech Private Limited with UGL Rail Services Ltd. (UGL), Australia, became a wholly owned subsidiary of the Company w.e.f 1st October, 2015, consequent on acquisition of the entire shareholding of UGL by Texmaco. During year 2016-17, Kalindee Rail Nirman (Engineers) Limited, a subsidiary of the Company, got merged with the Company through the Scheme of Amalgamation effective from 1st April 2014. The Company completed fabrication and erection of a major bridge (9 x 102.4 meters) weighing 7800T, at Bhairab in Bangladesh. Belur Engineering Private Limited was incorporated a wholly owned subsidiary in February, 2017. Texmaco Transtrak Private Limited was incorporated a subsidiary in 2018. During the year 2018-19, Texmaco Hi-tech Private Limited and Bright Power Projects (India) Private Limited, subsidiaries of Company were merged into and with the Company through the Scheme of Amalgamation effective from 1st April 2017. Two new designs of yoke castings, new designs of follower, draft gear housing and machined bogie castings of premium quality, 15 new components with improved wear resistance, Bogie casting for Sri Lankan Railways and Explosion Depth Hardened (EDH) cast manganese steel crossing in collaboration with IDL Explosives were developed and launched in 2018. During the year 2019-20, Company acquired a Foundry at Urla unit, in Raipur, which increased its total installed capacity to 42,000 MT per annum. In 2021-22, the Company had issued and allotted 7,15,26,643 Equity Shares of face value of INR 1 each by way of Rights Issue for an amount aggregating INR 164,51,12,789, in the ratio of 2 Equity Shares for every 7 Equity Shares held, to the eligible equity Shareholders of the Company. i.e., 2:7. The Company completed certain major milestones in projects like Signaling & Telecom contract of Western Dedicated Freight Corridor (WDFC), Track laying work at Eastern Dedicated Freight Corridor (EDFC), Ballast less track work of Bengaluru Metro, etc. in FY22. The Rail Unit completed maintenance works of railway assets for 300 Kmts and handed over the commissioned sites to Railways in 2022. The Bright Power unit of Rail EPC Division completed the work for rail electrification connectivity for Adani Godda-Thermal Plant and Pipava Port authorities. in FY 2023. In 2024, Company acquired 100% stake in Jindal Rail Infrastructure Limited to scale up its rolling stock manufacturing capacity. It also acquired a majority stake in Saira Asia Interiors Pvt Ltd, to become a mechanical partner in the commuter mobility segment. A ballast less track in East West Metro Corridor Project, Kolkata was laid, where the work under Hooghly River was completed and the commercial services between Howrah Maidan and Esplanade have commenced in FY 2024. In FY 2025, Texmaco has participated in Metro infrastructure projects in Mumbai and Bengaluru, has enhanced railway modal share by supplying nine types of wagons across sectors like coal, cement, steel, chemicals, containers, etc., and played a pivotal role in improving the speed, safety and efficiency of Indian rail transport. Company launched two business verticals - GCC (Global Capability Centre) and GSS (Global Sourcing Solutions) as part of a strategic alliance with Trinity Rail Group to collaborate on the design, development and supply of rolling stock and components in the domestic and international markets. It began producing components like Diamond Crossings, Cast Manganese Steel Crossings (CMC) and Weldable Cast Manganese Steel Crossings (WCMSC) from the Steel Foundry. It introduced new wagon designs in collaboration with Indian Railways, and foraying into the international market by initiating exports of high axle load lightweight Gondola wagons for the African market and became the country's largest exporter of rolling stock and castings. Apart from automobiles, the first in its class ACT3 is designed for transporting agricultural equipment like tractors with a higher payload of 25.8t.