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Texmaco Rail & Engineering, part of the Saroj Poddar-led Adventz Group, is expecting 20 per cent of its revenues from exports this fiscal. Bangladesh and the US are two of its major markets, as of now.
According to Sandeep Fuller, Chief Executive Officer, Texmaco Rail & Engineering, the focus on exports comes as a part of its growth strategy.
“We will take our entire portfolio of wagon-making, EPC and even electrification to the export market,” he told BusinessLine on the sidelines of a CII event here.
Bangladesh, US markets The company, sources say, is focusing on strengthening its position in rail EPC segment in domestic and international markets.
For instance, the wagon-maker has recently won a $67.7-million contract, for construction of 45 km dual gauge railway line including station buildings, level crossing gates and a Custom House Building through North Eastern border area in Maulavibazar district of Bangladesh adjoining Karimganj district in Assam.
The rail route, by the company’s EPC division – Kalindi Rail Nirman, is expected to enhance trade and passenger transportation.
Texmaco is also looking at a supply of bogie casting products to the US. It already has approvals from the Association of American Railroads. “We are anticipating an increase in our offerings to the US,” he said, adding that castings take a long time to develop.
The performance of the steel foundry division of the company is expected to look up with increased export demand from the US market. “(Orders from) the US market has been steady,” Fuller said.
Lean wagon orders “The focus on exports is for growth,” he said, adding that it had nothing do to with the delay in wagon orders from Indian Railways. New wagon orders are expected later this month.
The company, post its Q2 results (for September quarter) had said in a stock market notification that performance “was adversely impacted due to continuing lean wagon orders from the lndian Railways and consequential related issues”.
It reported a net loss of over ₹8 crore for the September quarter (against a profit of ₹18 crore in the year-ago-period), while total income stood at ₹199 crore.
The present order book position of the company with its subsidiaries is about ₹3,800 crore.
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