Moneycontrol
Feb 15, 2017 02:19 PM IST | Source: CNBC-TV18

To focus on EPC and defence going forward: Texmaco

Texmaco Limited, the railway wagon and engineering company, will shift focus to Engineering, Procurement, and Construction (EPC) from sale of wagons, says Executive Director AK Vijay.

Texmaco Limited, the railway wagon and engineering company, will shift focus to Engineering, Procurement, and Construction (EPC) from the sale of wagons, says Executive Director AK Vijay.

Speaking to CNBC-TV18 Vijay said the acquisition and successful merger of Kalindee Rail Nirman (Engineers) Limited will allow the company to participate in large orders.

He confirmed company holds orders worth more than Rs 2,000 crore via Kalindee Rail and another Rs 550 crore worth of orders from its railway electrification segment. He added the company is participating in tenders with greater values on a day in-day out basis.

Speaking on its memorandum of understanding (MoU) with a Russian defence company Rosoboronexport, Vijay said defence is an area where the company is planning to make significant progress.

The company reported a weak set of earnings for Q3FY17 with a decline in margin at 4.4 percent versus 6.6 percent year-on-year and a drop in profit after tax (PAT) at Rs 2.85 crore versus Rs 9.18 crore in FY16, a sharp dip of 69 percent.

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