Trying to stabilise operations after growth: Texmaco Rail

In an interview to CNBC-TV18, AK Vijay, ED of Texmaco Rail spoke about the results and his outlook for the company.Below is the verbatim transcript of AK Vijay's interview to Prashant Nair and Ekta Batra on CNBC-TV18.Prashant: I am looking at the numbers and the numbers are looking very, very strong but could you tell us the revenues that you booked from the rolling stock that have come in the quarter, just tell us what happened in the quarter rather?A: If you see the numbers it is a result of all round, we have done good in rolling stock, we have done good in the steel casting business, we have done good in our bridges business. In general, the company has seen some improvements in Q2 but when you compare to comparative on the Q2 last year the figure looks pretty large, but if you compare to Q1 of this year we have done reasonably on the same levels and all this things. Virtually, we are trying to stabilise the working of the company which has suffered last year and as it is the scenario for this year also is not very bright, but then company is looking to alternative means of revenues.Prashant: Is there a tender for rolling stock coming out soon?A: Yes, last year tender is already done and we have already told you that we have got an order for about 1,336 numbers of wagons, which will be completed in Q3 and Q4 but the next tender will be coming only in Q4 that is what the practice the railway adopts.Apart from this tender we are focussing mainly on the businesses which are coming from other sector for rolling stock which is locomotives, where we are pitching for big business and have been successful in fact in developing the loco shelf etc for the railway workshops and also we are pitching for the new companies which are coming up that is the GE and Alstom for their Madhepura and Marhowrah project.Ekta: What could you end the year with in terms of revenue growth or maybe first half your revenue growth was 87 percent, what is the percentage terms that we could expect for the second half?A: About the revenue growth for the year and all this things I don’t think there will be any significant growth for the reason because Q3 and Q4 also last year were very strong, but this year we are not seeing such strong growth in Q3 and Q4.Virtually, we will be coming more or less in the same level. Important part for us is that we are getting the business from the new ventures and new items we have developed. Especially, on the foundry site also we are now seeing good growth in the export business and which is high revenue one and certainly giving lot of sustenance to the company in difficult times especially being faced in the wagon division. That is how the company is operating. We are leveraging ourselves with new businesses, new opportunities.Prashant: Are you disappointed from the government sector on the rolling stock side?A: We are. We have a lot of expectation from the government about with the new government coming up.Prashant: I just wanted to get that commentary on the rolling stock side from the government side specifically?A: Rolling stock comprises of number of items, but the wagon business if you see it is poor. Infrastructure is doing well and my two subsidiary companies Kalindee and Bright Power they expect a bright future.