25 Apr, EOD - Indian

SENSEX 79212.53 (-0.74)

Nifty 50 24039.35 (-0.86)

Nifty Bank 54664.05 (-0.97)

Nifty IT 35562.25 (0.72)

Nifty Midcap 100 53570.2 (-2.55)

Nifty Next 50 64314.9 (-2.41)

Nifty Pharma 21482.55 (-2.24)

Nifty Smallcap 100 16547.2 (-2.45)

25 Apr, EOD - Global

NIKKEI 225 35705.74 (1.90)

HANG SENG 21980.74 (0.32)

S&P 5564.5 (0.75)

LOGIN HERE

companylogoTexmaco Rail & Engineering Ltd

You are Here : Home > Markets > CompanyInformation > Company Background
BSE Code : 533326 | NSE Symbol : TEXRAIL | ISIN : INE621L01012 | Industry : Engineering |


Chairman's Speech

ALONG THE TRANSFORMATION TRACK

DEAR SHAREHOLDERS,

Your company,Texmaco Rail & Engineering Limited, is powering ahead Along The Transformation Track and it gives me great pleasure in introducing the 2023-24 Annual Report, themed on Transformation.

I take this opportunity to reacquaint you with this enterprise of National Pride founded by the late Dr K. K. Birla, with a singular vision of-building to last Now driven by cutting-edge innovation,Texmaco has created value for its customers, investors, and the nation for decades, with a transformed ideology defined by its current executive management - that of moving from good to great

We have done this by consistently investing in cutting-edge research, adopting state-of-the-art technology, keeping abreast of global design developments, and forging strategic partnerships that spur growth.Today, Texmaco is in serious expansion mode, and a significant transformation of the Company into a future-ready enterprise is underway.

BENEFITS OF AN ENABLING ENVIRONMENT

As we speed along the Transformation Track, I must emphasise that our successful expansion efforts have come on the back of Indias rapid march towards becoming the third largest economy in the world, and its renewed thrust on boosting infrastructure. To promote infrastructure building, the government has allotted INR 11,11,111 crore in the 2024-25 Union Budget, a figure that significantly represents 3.4% of our GDP. The National Infrastructure Pipeline (NIP)

- a group of socioeconomic projects to enhance citizens quality of life - and the Make in India initiative, are strengthening indigenous manufacturing and attracting substantial investments to the sector.

To keep pace with the economic thrust, a pressing need to scale up transport and freight has appeared, since these systems provide a crucial framework to support business activity.TheGati Shakti masterplan for multimodal connectivity is pushing the pedal on solutions for the movement of people, goods and services in a cost-effective, energy-efficient and sustainable manner.The Indian Railways National Rail Plan for 2030 has blueprinted the design of a railway system to increase the modal share of railways in freight to 45%. Already, a record rail freight volume of 1,591 million tonnes was reached in full fiscal ending March 2024. In the passenger mobility segment, the Vande Bharat trains have blended sleek design and space management with high velocity.

This years INR 2.52 lakh crore budget for Railways is evidence of the governments commitment to enhancing safety and upgrading tracks, building terminal facilities, resolving connectivity issues and identifying dedicated freight corridors for cargo movement efficiency. The able and energetic leadership of the Honourable Minister of Railways, Shri Ashwini Vaishnaw, will steer the Indian Railways towards the Olympic motto of Citius (faster), Altius (higher), Fortius (stronger).

TEXMACO TRANSFORMING

As a premier multi-discipline, multi- unit engineering and infrastructure company with a proven track record in manufacturing excellence, Texmaco is well-positioned to avail opportunities presented by these macroeconomic conditions and be a major contributor to the cause of building a Viksit Bharat The Company has tided over the headwinds of the pandemic and unstable geopolitical conditions and is poised

for the next horizon of growth. These ambitions are aided by surging railway capex and focused fund flows from global investors.

One is happy to share that we recently raised INR 1,000 crore through the qualified institutional placement of equity shares, garnering a strong response from investors around the world.

As the demand for wagons and components accelerates in a bustling business landscape, our carefully planned joint ventures are unlocking synergies founded on the specialised strengths of each partner. Collaborations with global partners like Touax, Wabtec, Nymwag and others have allowed us to place a special thrust on our components business and to ramp up our capacity to manufacture components, wagons and coaches and secure high levels of operating efficiencies. They also put Texmaco in a strong vantage point to explore fresh geopolitical opportunities.

Recently, we entered into definitive agreements to acquire a 100% stake in Jindal Rail Infrastructure Limited in a move to scale up our rolling stock manufacturing capacity. We also acquired a majority stake in Saira Asia Interiors Private Limited, enabling us to become a mechanical partner in the commuter mobility segment in the future.

These partnerships will augment Texmacos productivity and profitability, thereby elevating our participation and increasing our supply volume in domestic and foreign markets Asia, the European Union, Africa and Australia.

Also on the anvil are plans for the expansion of our greenfield steel foundry at Paradeep to address the domestic and export requirements of steel castings that cater to both the mining and railway segments. This foundry will also focus on crafting mining components and enable the Company to diversify its product mix.

FOR A CLEANER TOMORROW

As a responsible corporate citizen, we not only pledge to create economic value for our stakeholders, but also to go beyond profit to find purpose and do our bit in creating a more equitable world. One of our top sustainability goals is to safeguard environmental health.

Our future growth plans take into account the imperative to preserve environmental resources, and we are already taking steps to increase our use of clean energy. In a momentous step, theTexmaco steel foundries have tied up with Ampin Energy Transition Pvt. Ltd. to establish a 10 MW open-access solar power plant in Chhattisgarh, marking the beginning of an era of switching to green energy practices.

We also acknowledge our responsibility to give back to the disadvantaged communities living in our catchments. Our corporate social responsibility (CSR) projects have mechanisms in place to extend the necessary support to local families for healthcare and childrens education. In support of national priorities and in line with the Honourable Prime Minister Shri Narendra Modis drive of skill development among Indian youth, we are conceptualising a project to set up skill development centres in Odisha and West Bengal.

To our employees, our most valuable asset, we strive to offer career growth opportunities, skilling and training, a compassionate, positive work environment, and absolute safety in the workplace.

HOPES FORTHE FUTURE

Texmacos time-tested corporate governance model consists of processes and structures that guides its management and secures maximum value for all stakeholders. Our elected Board of Directors set strategic goals designed to bolster business growth and inculcate accountability for achieving them.

TheTexmaco vision of always putting the customer first, delivering excellence and manufacturing world-class railway products for a worldwide client base is coming alive every day. All thanks to you, theTexmaco family.

Mahatma Gandhi had famously said, The future depends on what you do today. Inspired by the words of the Father of the Nation who also had a significant role in the idea called Texmaco being born let us pledge to do today what will benefit our planet and our people in the future.

With that overarching thought, it is my privilege to present to you the Annual Report for 2023-24. *

Sincerely,

S.K. Poddar

Chairman

   

Capital Market Publishers India Pvt. Ltd

401, Swastik Chambers, Sion Trombay Road, Chembur, Mumbai - 400 071, India.

Formed in 1986, Capital Market Publishers India Pvt Ltd pioneered corporate databases and stock market magazine in India. Today Capitaline corporate database cover more than 35,000 listed and unlisted Indian companies. Latest technologies and standards are constantly being adopted to keep the database user-friendly, comprehensive and up-to-date.

Over the years the scope of the databases has enlarged to cover economy, sectors, mutual funds, commodities and news. Many innovative online and offline applications of these databases have been developed to meet various common as well as customized requirements.

While all the leading institutional investors use Capitaline databases, Capital Market magazine gives access to the databases to individual investors through Corporate Scoreboard. Besides stock market and company-related articles, the magazine’s independent and insightful coverage includes mutual funds, taxation, commodities and personal finance.

Copyright @ Capital Market Publishers India Pvt.Ltd

Designed, Developed and maintained by CMOTS Infotech (ISO 9001:2015 Certified)

Site best viewed in Internet Explorer Edge ,   Google Chrome 115.0.5790.111 + ,   Mozilla Firefox 115.0.3 + ,   Opera 30.0+, Safari 16.4.1 +