For 12 mths ended Mar 19, net sales were up by 37% to Rs 1968.97 crore. OPM stood at 26.2% up by 250 bps, thus resulting in OP growth of 52% to Rs 516.74 crore on YoY basis. Other income was up by 28% to Rs 195.20 crore, resulting in PBIDT growth of 44% to Rs 711.94 crore. Interest cost was at Rs 3.04 crore and depreciation was up by 7% to Rs 32.18 crore resulting in a PBT of Rs 676.72 crore up by 47% YoY. After providing total tax of Rs 232.07 crore, up by 52%, PAT stood at Rs 444.65 crore up by 34%.

Commenting on the results, Mr. Rajeev Mehrotra, Chairman and Managing Director, RITES Limited said,

"It gives me immense pleasure to share that the focus on execution has resulted in excellent results for financial year ended 31st March 2019.We have exceeded the performance targets for FY19 and made significant strides in business growth and project delivery."

Consultancy & Leasing: Consistent Performers in Consultancy business which remains the focus area and company achieved a revenue of Rs1092 crore with a growth of 13.3% over FY18.

Leasing business has shown a growth of 12.3% over FY18 with revenue of Rs 104 crore as against revenue of Rs 92 crore.

Exports revenue during the FY19 stands at`207crore and during Q4FY19 `103 crore. Commenting on exports performance, CMD Mr. Rajeev Mehrotra said, "Certain exports lined up for March 2019 has spilled over to Q1FY20. Exports business has a healthy order book of Rs 1086 crore and is expected to pick up from this financial year. "

The revenue from turnkey construction projects, has reached Rs567 crore with multifold increase over FY18 amounting to Rs 147 crore. Q4FY19 also saw revenue of Rs 261 crore with increase of Rs 179 crore over Q4FY18.

Wagon manufacturing Joint Venture, SRBWPL, has achieved a profit of Rs 16 crore with revenue of Rs 216 crore during FY19. During the year, SRBWPL plant has achieved a milestone of 100% capacity utilization by producing 100 wagons per month.

Growth Outlook for FY20

While giving guidance for the FY20, Mr. Mehrotra said, "We have built a strong foundation for growth on the back of healthy order book and growing infrastructure investment in both domestic as well as overseas market. Accordingly, company concluded MoU with Ministry of Railways for FY20, with standalone operational revenue (excluding other income) target for excellent rating being kept at `2300crore, up by 16.8%from FY19.Management will strive to surpass the above targets as it is expecting large infrastructure spending in near future."

The board of directors declared a final dividend of Rs 4 per equity share of face value of Rs 10 each for FY 19 including special dividend of Rs 7.5 per equity share.