Texmaco Rail & Engineering has entered into a strategic Memorandum of Understanding (MoU) with Nevomo, a Polish technology entity founded in 2017, European pioneer in nextgeneration Magrail technology and Linear Propulsion Systems along with related technology solutions. This pioneering agreement heralds a new era of rail infrastructure innovation, high speed rail solutions, AI-powered predictive diagnostics, self-propelled wagons, and driverless freight trains to revolutionize mobility in India and on the global stage. This alliance aims to redefine the rail industry by co-developing and implementing Nevomo`s cutting-edge Magrail technology and Linear Propulsion Systems along with related technology solutions. Leveraging Texmaco`s extensive manufacturing capabilities and Nevomo`s technological prowess, the collaboration aspires to bolster rail network efficiency, expand capacity, and modernize existing railway & port systems along with quantum efficiency improvement in mines, captive rail & logistics setup. Furthermore, it underscores India`s vision to become a global leader in next-generation transportation solutions and make in India initiatives.Powered by Capital Market - Live News

Net profit of Texmaco Rail & Engineering rose 151.62% to Rs 76.72 crore in the quarter ended December 2024 as against Rs 30.49 crore during the previous quarter ended December 2023. Sales rose 47.93% to Rs 1326.14 crore in the quarter ended December 2024 as against Rs 896.44 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales1326.14896.44 48 OPM %9.859.20 - PBDT103.9457.58 81 PBT93.1448.65 91 NP76.7230.49 152 Powered by Capital Market - Live News

The Board of Texmaco Rail & Engineering at its meeting held on 31 January 2025 has inter-alia considered and approved the Scheme of Arrangement between the Company and Belgharia Engineering Udyog, a wholly owned subsidiary of the Company (Transferee Company or BEL) and their respective shareholders and creditors under the under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 (�Act�) (�Scheme�), which inter alia provides for transfer of the Transferred Undertaking (as defined in the Scheme) from the Transferor Company to the Transferee Company as a going concern on slump exchange basis, with effect from the Appointed Date (as defined in the Scheme) and various other matters consequential thereto or otherwise integrally connected therewith in the manner set out in the Scheme.Powered by Capital Market - Live News

Texmaco Rail & Engineering will hold a meeting of the Board of Directors of the Company on 31 January 2025.Powered by Capital Market - Live News

Texmaco Rail & Engineering has received revision in credit rating from CARE as under:Long term bank facilities - CARE A (RWD) (revised from CARE A- (RWD))Short term bank facilities - CARE A1 (RWD) (revised from CARE A2+ (RWD))RWD indicates that the rating is under review with developing implications. Powered by Capital Market - Live News