Texmaco Rail & Engineering Limited — Earnings Release 2019

Date: l3'n May,2019

The Listing Department National Stock Exchange of Inclia Ltd Exchange Plaza Bandra-Kurla Complex Bandra (E), Mumbai - 40005I Symbol - TEXRAIL

The Corporale Relation Departmenl BSE Limired P. J. Towers, Dalal Street Fort, Mumbai - ⁴⁰⁰⁰⁰¹ Scrip Code - 533326

The Secretary The Calcutta Stock Exchange Ltd 7, Lyons Range Kolkata - ⁷⁰⁰⁰⁰¹ Scrip Code - 30285

Dear Sir(s),

We are enclosing herewith a copy of Press Release on the Company for the Quarter and year ended 31't March, 2019, Audited Financial Results of the for your information and record.

Thanking You,

Yours faithfully, For Texmaco Rail & ng Limited

Company Secretary

Encl ala

Texmaco Rail & Engineerinq Limited

Financial Resu lts for FY l 9 Press Releqse

Texmaco Rail & Engineering Ltd., a "ADVENTZ' Group Company, has reported its standalone and consolidated annual working results for FY 19 at its Board Meeting held on l3'r'May,2019.

The Company's perforlnance for a greater part of the year was under severe strain due to non-availability of critical manufacturing items from vendors for execution of its orders both for IR and non-lR Wagons causing mismatch of input materials and resulting in pressure on working capital requirement. The situation, however, is gradually improving.

The Company has received the order of merger of its subsidiaries, Bright Powers (lndia) Pvt Ltd' and Texmaco Hi-Tech pvt. Ltd. into and with Texmaco Rail & Engineering Limited from the Hon,ble National Company Law Tribunat (NCLT) and therefore, the Financial Results are after taking into consideration the performance of the merged entities. The previous figures have also been correspondingly reinstated since the effective date for the merger as approved by NCLT is I't April, 2017.

The total Revenue for the year was < 2005.18 crore including < 147.01 crore being inter-segment revenuq compared to { I 192.60 crore including { 53.40 crore being inter-segment revenue of the previous year (increase of 68"/"'). The Gross Profit (PBDT) and Profit before Tax (PBT) for the year was { 117.17 crore & { gg.2l crore against { 50.37 crore & { 25.55 crore respectively of the previoqs year. The Net Profit (PAT) for the year was < 75.28 crore compared to < l3'39 crore in the previotjs year (increase of 462' ). For the 4th quarter FYl9, the Revenue was at { 661.79 crore comparjed to { 387.09 crore of the corresponding quarter of previous year.

The Bdard has recommended a dividend @35% on the Equity Shares of the Company.

The company acquired a Steel Foundry Unit from Simplex castings Limited, located aI Urla Industrial Estate, Raipur, Chattisgarh having a production capacity of 12000 MT per annum on ^aslump sale basis. In view of growing demand of steel castings, the said acquisition which is complQmentary to the existing Foundry facilities, will put the Steel Foundry Division into a different league not only in India but globally.

The pQrformance of the Rolling Stock Division suffered owing to continued shortages of critical items, Viz. wheelsets, bogies and other components. During the year, the Railways came out with ^a tender for 21758 wagons of which it finalized order flor only 11790 wagons and the Company receivdd an order of 162l wagons out of the same. A tender for procurement of balance quantity of 99dg wagons (VUs) has now been floated which is due for opening on 2l't May,20l9' Beside orders from Railways, the inflow of wagon orders from the Private Sector is robust and the Divisidn is now all geared up to step up its production during the current year.

The TCD Division has shown considerable improvement during the year with the continuous inflow of orders from the Locomotive prants for r-oco Sheils. Since huge requirementof Loco Shells forthe financiar year 2019_20 has been redicted, the company is increasing its manufacturing capacity to deliver the increased number of Loco Shells'

The performance of the Hydro Mechanicar & Bridge Divisions remained subdued during the year' An improvement in these Divisions performance is expected during the current year with the opening up of various Hydro projects in the country and new orders being received for Bridge Division'

The Steel Foundry Division continued to perform strongly with an all-time high record revenue of ^&lt;26gcrore against previous year{ 135 crore. The Division with addition of new capacity expectsto further improve its performance both in export and domestic fronts in the current year'

The Rail Epc Division achieved a turnover of { 951 crore during the current vear as compared to ^&lt;754crore in the previous year. With the focus on closing of o|d contracts, the Division completed r64.3 TKM of bailasted track, r64.2 TKM of bailast-ress track and 3r stations/gates signalling duringtheyear'Thisapart,ahighlycomplicatedworkofoHEonadditionallinesbetweenChennai Beach and Royapuram to strengthen the yard and provide additionar connectivity to chennai Port was also completed. A maintenance contract for maintaining oHE' lines between Bengaluru and Mysore, a first of its kind by Indian Railways was received by the Company' Total OHE work executed during the year was 368 TKM. The Division has won order worth more than { 1000 crore during the year. The two export orders in Bangtadesh are presently under execution' The Division will continue to improve its performance now with the legacy orders coming to close'

The order book position of the company including its subsidiaries stands at { 6000 crore'

Comp'any Secre

r 3.05.201 9