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Texmaco Rail & Engineering Limited announces Financial Results for Q2 and HYl of FY 2020-21

Posted On: 2020-10-19 05:51:10

Texmaco Rail & Engineering Limited ('Texmaco Rail' / 'Company'), a ADVENTZ Group Company has reported its Q2 and HYI working Results of FY 20-21approved at its Board Meeting held on 19th October 2020.

The Gross Revenue for the 2nd quarter ended 30th September 2020 stood at Rs. 413.02 crore, EBIDTA at Rs.40.60 crore, Profit before Tax (PBT) at Rs. 1.48 crore and net profit at Rs. 0.96 crore as against Gross Revenue of Rs.480.86 crore, EBIDTA of Rs. 42.54 crore, PBT of Rs.9.18 crore and net profit of Rs. 8.65 crore respectively in the corresponding quarter of previous year.

For the half year ended 30th September 2020, the Gross Revenue stood at Rs. 637 .98 crore, EBIDTA at Rs. 32.16 crore, Profit/(Loss) before tax (PBT) at (Rs. 38.39) crore and net profit/(loss) at (Rs. 25.86) crore as against Gross Revenue of Rs. 879.44 crore, EBIDTA of Rs. 84.16 crore, Profit/(Loss) before Tax of Rs. 23.33 crore and net profit/(Loss) of Rs. 18.22 uore in the corresponding period of previous year.

The businesses of the Company from Q2 of FY '20-21 are limping back to near norrnalcy and the Company has taken strong measures for maintaining work discipline as advised by the Gor.t. of India to control the spread of COVID - 19 pandemic.

With Govt.'s focus on growth in the Rail segment and Railway's thrust on improving its market share both in freight and passenger category, the prospects for Rolling Stock and Rail Infrastructure Divisions are reasonably good. However, negative economic indicators with GDP projected for a double-digit fall bring certain uncertainty to the immediate business outlook.

The Company is nevertheless hopeful of improved performance during Q3 and Q4 of the current financial year.

The consolidated order book of the Company including its subsidiaries / JVs is approx. Rs. 3900 crore.

Shares of TEXMACO RAIL & ENGINEERING LTD. was last trading in BSE at Rs.24.8 as compared to the previous close of Rs. 24.35. The total number of shares traded during the day was 15090 in over 73 trades.

The stock hit an intraday high of Rs. 24.85 and intraday low of 24.35. The net turnover during the day was Rs. 370285.

Source: Equity Bulls

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