Navratna Railway central public sector enterprise under the Ministry of Railways, engaged in providing multidisciplinary engineering and consultancy services for Railway and Infrastructure projects in focus upon signing Memorandum of Understanding (MOU) with Ultratech Cement Limited.
With a market capitalization of Rs. 16,525 Crores, the shares of Rites Limited were trading at Rs. 685.85, up 0.06 percent from its previous day’s close price of Rs. 685.45.
Rites Limited has entered into a Memorandum of Understanding (MOU) with Ultratech Cement Limited for Project Management Consultancy Services of Rail Infra projects.
Rites Limited is a Navratna central public sector enterprise under the Ministry of Railways, it is a multidisciplinary engineering and consultancy organization, that provides a comprehensive range of services from concept to commissioning in all facets of transport infrastructure and related technologies.
As of Q3FY24, Rites Limited has a strong order book of Rs. 5,496 Crores and as of 9MFY24, it generates 51 percent of its revenue from consultancy, 38 percent from turnkey projects, 6 percent from leasing, and 5 percent from exports.
Its revenue from operations grew by 0.88 percent from Rs. 677 Crores in Q3FY23 to Rs. 683 Crores in Q3FY24, accompanied by profits of Rs. 147 Crores to Rs. 129 Crores.
It has reported a return on equity (ROE) of 21.3 percent and a return on capital employed (ROCE) of 29.7 percent, it is making good returns on its equity and capital employed.
Written by: Bharath K.S
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