RITES bags $18-million order from South Africa's Talis Logistics

RITES Ltd has received a letter of award on Thursday (September 25) from Talis Logistics, South Africa, for the supply and commissioning of overhauled in-service specially designed locomotives.

The contract, valued at $18 million, will be executed within 6-8 months from the receipt of advance, RITES added.

The exchange filing stated, "We are pleased to inform you that RITES has received letter of award from Talis Logistics, South Africa for Supply and commissioning of Overhauled in-service Cape Gauge

ALCO Diesel Electric Locomotives."

Last week, the company announced it had secured an order worth ₹78.65 crore from NTPC for hiring diesel locomotives on a lease basis for power plants across India. The NTPC contract is scheduled to be executed by September 19, 2027, with the actual order value depending on the requirements of various stations.

Q1 results

Last month, the company declared its June quarter results, which showed marginal improvement on most parameters. Revenue rose 0.8% year-on-year to ₹489.7 crore, while net profit edged up 0.7% to ₹91 crore.

EBITDA grew 7.8% YoY to ₹114 crore, with margins expanding by 150 basis points to 23.3%, underscoring operational efficiency despite muted topline growth.

Shares of RITES ended lower on Thursday (September 25) by 2.24% at ₹252.50 on the NSE.

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