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Texmaco Rail & Engineering informed that a meeting of its board is scheduled on Friday, 15 September 2023 to consider and approve the proposal of raising of funds.
The proposal is subject to regulatory/statutory approvals as may be required and the approval of shareholders of the company.
Texmaco Rail & Engineering is a diversified heavy engineering company, with products including railway freight wagons, hydro-mechanical equipment and industrial structures for infrastructure industry, locomotive components and locomotive shells, railway bridges, steel castings, and pressure vessels, etc.
On a consolidated basis, the company reported net profit of Rs 12.75 crore as against a net loss of Rs 20.54 crore. Net sales surged 119.9% YoY to Rs 656.82 crore in Q1 FY24.
Shares of Texmaco Rail slipped 3.41% to Rs 131.75 on the BSE.
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