Texmaco Rail & Engineering, which has secured a ₹535 crore order for manufacturing and supplying of wagons to Cameroon, expects African and South American markets to witness a significant growth in terms of exports for the company.

India’s largest wagon maker has secured the international contract with Camalco S. A, a wholly-owned subsidiary of Australia’s Canyon Resources. Under this agreement, Texmaco will design, build, and provide end-to-end maintenance for more than 1,600 open-top freight wagons for Cameroon’s flagship Minim Martap bauxite mining project to be supplied in three phases.

“This is one of the largest export contracts in the history of an Indian rolling stock company. We will be manufacturing and supplying 560 wagons within two years. We have a long-term maintenance contract for the wagons for a period of 20 years. Also, we have the option of additional order of 1,040 wagons in subsequent phases. It will be decided within two years,” said Texmaco Rail & Engineering MD, Sudipta Mukherjee.

Expansion plans

“We supplied oil tank wagons in Cameroon last year. We have already exported our products to 8-10 countries in Africa. We are eyeing to expand the company’s overall export to Africa,” Mukherjee told businessline.

On the export front, Africa is currently the company’s second largest market after South America. “The kind of business plans we have, both South America and Africa may see significant growth going forward. Both these markets would be the lucrative growth engines for Texmaco,”the MD said, adding many international contracts are in the pipeline.

Apart from South America and Africa, the Adventz Group company is also eyeing Middle East markets to expand its overall export.

The company’s overall export is expected to contribute around 30 per cent of its revenue in the next three years from the current 8-10 per cent. It is currently exporting its large categories of products to as many as 16 countries.

“We had supplied bogies for the Sydney Metro project through our customer Alstom. Currently, we are exporting steel castings to Australia. Now, we also want to expand this Australian market as well,” Mukherjee added.

The company’s consolidated revenue stood at ₹5,164.24 crore and net profit was ₹2,25.51 crore for the last financial year. Its EBITDA was ₹525 crore with a year-on-year increase of 57.6 per cent and margin of 10.3 per cent for FY25.

On Thursday, Texmaco Rail & Engineering scrip ended the day at 178.50 apiece on BSE, up 2.91 per cent from the previous close.

Published on June 26, 2025