This Miniratna Central Public Sector Enterprise under the ministry of railways has bagged orders from Bangladesh railways for $111 million.
At the day’s closing the shares of Rites Limited were trading at Rs. 483.90 up by 1 percent from its previous day close price and the market capitalization of the company is 11,641 Cr.
As per the company’s filing, Rites Limited has bagged orders from Bangladesh Railways for Procurement of 200 Broad Gauge (BG) Passenger Carriages for Bangladesh Railways for a consideration of $111,003,177(One Hundred Eleven Million Three Thousand One Hundred Seventy Seven US Dollars) or 924.09 Cr.
The company’s revenue has decreased by 1.26 percent from 2,661.83 Cr in FY22 to 2,628.27 Cr in FY23, accompanied by increasing profits of 538.58 Cr to 570.97 Cr.
The company has reported a return on equity (ROE) of 22.42 percent and return on capital employed (ROCE) of 30.52 percent, this indicates that the company is making good returns on its equity and making efficient utilisation of the company’s resources.
According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 72.20 percent stake, the Domestic Institutional Investors hold 15.25 percent and the Foreign Institutional Investors (FII) hold 3.44 percent.
Rites is Miniratna central public sector enterprise under the ministry of railways, it is a multidisciplinary engineering and consultancy organization, providing a comprehensive range of services from concept to commissioning in all facets of transport infrastructure and related technologies.
Written by: Bharath K.S
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