The shares of the Heavy Engineering Equipment manufacturers gained up to 4 percent after the company received a work order worth Rs 12.79 crore for manufacturing and supplying 208 sets of seats and berths for LWACCN coaches.
With a market capitalization of Rs 1,522.76 crore, the shares of Oriental Rail Infrastructure Ltd were trading at Rs 282.50 per share, increasing around 3.75 percent as compared to the previous closing price of Rs 272.30 apiece.
As per the company filing, Oriental Rail Infrastructure Ltd received a work order worth Rs 12.79 crore for manufacturing and supplying 208 sets of seats and berths for LWACCN coaches from Integral Coach Factory (ICF), Chennai, Indian Railways.
Moreover, 90 percent of the payment is to be received against the Inspection Certificate issued by the nominated inspection agency as specified in the contract and proof of dispatch/delivery of the material, and a Balance of 10 % after receipt, inspection, and acceptance of the goods
Oriental Rail Infrastructure Ltd’s revenue rose by 39 percent, from 106 crore in Q3FY23 to Rs 147 crore in Q3FY24. During the same period, net profit grew by 550 percent, from Rs 2 crore to Rs 13 crore.
As of December 2023, the firm and its subsidiary, Oriental Foundry Private Ltd., have total orders of Rs 1,729.41 crore.
OFPL (a subsidiary firm) launched two new production facilities in FY22-23: the Bogie Spring plant in Kutch, Gujarat, and the Bogie and Coupler factory in Chopadava. Wagon increased production capacity in its Lakadiya, Gujarat factory. The new Bogie spring facility can produce 2,80,800 bogey springs annually.
Moreover, The Wagon facility now produces up to ‘2,400 Wagons yearly. The company Foundry section profited substantially from increased capacity, solving the shortfall of wagons for Indian Railways.
The stock gave a multi-bagger return of 325.47 percent return in six months and a 437.28 percent return in a year. As a result, If an investor invests Rs 1 lakh in the company would be worth Rs 5.37 lakhs in a year.
Oriental Rail Infrastructure Ltd manufactures, buys, and sells Recron, Seat and Berth, and Compreg Boards. They also trade forest trees and their goods.
Written by:- Abhishek Singh
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