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RITES is back on track

RITES International is set to chug along the growth track on the back of strong orders and execution.

June 30, 2022 / 12:41 PM IST
RITES is back on track

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Improving execution to support higher revenue growth - Margins protected thanks to higher scale and favourable revenue mix - Strong order book and execution to support earnings growth - Stock valued at 8 times fiscal 2024 estimated earnings Even during the pandemic-triggered stress, PSUs in the railway engineering space were growing at a decent pace on the back of deft execution and government support through capex. Now the markets are worried about growth because of higher interest rates and firmer commodity prices. The...

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