Share price of this small-cap railway stock moved up by nearly 4.98% on BSE to Rs. 254.9 in the morning trading session of March 13th, compared to its previous close of Rs. 242.8, after the company secured an order worth Rs. 1,249 crores from Indian Railways.
With a market capitalisation of Rs. 1,272.1 crores, in the last one year, Oriental Rail Infrastructure Limited has delivered multibagger returns of about 407.2 percent and nearly 198.3 percent in the last six months. However, so far in 2024, it has given around 3.4 percent of negative returns.
According to the recent filings with the BSE, Oriental Foundry Private Limited, a wholly-owned subsidiary of the company, has secured an order valued at Rs. 1,249.09 crore from the Ministry of Railways (Railway Board), Indian Railways.
The order received by the company is for the manufacture and supply of 3,055 BOXNHL Wagons (including an additional 91 Nos. BOXNHL Wagons).
The Ministry of Railways (Railway Board), Indian Railways, has increased the order quantity of BOXNHL Wagons from 2,964 Nos. to 3,055 Nos. BOXNHL Wagons (addition of 91 Nos. BOXNHL Wagons).
The delivery period of the increased quantity would be till August 31, 2024.
The terms and conditions of the order include 90% of the total cost to be received against the Inspection Certificate issued by the RDSO and evidence of dispatch or delivery of the material, with the balance of 10% after receipt, inspection and acceptance of the goods.
In terms of financials, the revenue from operations of the company grew by nearly 27.82 percent QoQ from Rs. 115 crore in Q2 FY23-24 to Rs. 147 crore in Q3 FY23-24.
The net profit of the company increased by around 62.5 percent QoQ, from Rs. 8 crore in Q2 FY23-24 to Rs. 13 crore in Q3 FY23-24.
Oriental Rail Infrastructure Limited, formerly known as Oriental Veneer Products Limited, is engaged in the business of manufacturing and supplying several items for the Indian Railways and other industries.
Oriental Foundry Private Limited is a major manufacturer of Heavy Engineering Equipments like Railway Rolling Stock.
Written by Shivani Singh
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