New Risk • May 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.9% average weekly change). Reported Earnings • May 13
Full year 2026 earnings: EPS misses analyst expectations Full year 2026 results: EPS: ₹4.84 (down from ₹6.24 in FY 2025). Revenue: ₹44.1b (down 14% from FY 2025). Net income: ₹1.95b (down 22% from FY 2025). Profit margin: 4.4% (down from 4.9% in FY 2025). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.7%. Revenue is forecast to grow 4.4% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Announcement • May 07
Texmaco Rail & Engineering Limited to Report Q4, 2026 Results on May 12, 2026 Texmaco Rail & Engineering Limited announced that they will report Q4, 2026 results on May 12, 2026 Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹90.67, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 28x in the Machinery industry in India. Total returns to shareholders of 100% over the past three years. Price Target Changed • Feb 13
Price target decreased by 12% to ₹164 Down from ₹186, the current price target is an average from 2 analysts. New target price is 44% above last closing price of ₹114. Stock is down 19% over the past year. The company is forecast to post earnings per share of ₹4.20 for next year compared to ₹6.24 last year. Reported Earnings • Feb 10
Third quarter 2026 earnings released: EPS: ₹1.07 (vs ₹1.92 in 3Q 2025) Third quarter 2026 results: EPS: ₹1.07 (down from ₹1.92 in 3Q 2025). Revenue: ₹10.5b (down 21% from 3Q 2025). Net income: ₹428.4m (down 44% from 3Q 2025). Profit margin: 4.1% (down from 5.8% in 3Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Announcement • Feb 04
Texmaco Rail & Engineering Limited to Report Q3, 2026 Results on Feb 09, 2026 Texmaco Rail & Engineering Limited announced that they will report Q3, 2026 results on Feb 09, 2026 Reported Earnings • Nov 16
Second quarter 2026 earnings released: EPS: ₹1.62 (vs ₹1.82 in 2Q 2025) Second quarter 2026 results: EPS: ₹1.62 (down from ₹1.82 in 2Q 2025). Revenue: ₹12.6b (down 6.5% from 2Q 2025). Net income: ₹646.3m (down 11% from 2Q 2025). Profit margin: 5.1% (down from 5.4% in 2Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 14
Price target decreased by 11% to ₹192 Down from ₹214, the current price target is an average from 2 analysts. New target price is 47% above last closing price of ₹131. Stock is down 34% over the past year. The company is forecast to post earnings per share of ₹5.90 for next year compared to ₹6.24 last year. Announcement • Nov 04
Texmaco Rail & Engineering Limited to Report Q2, 2026 Results on Nov 11, 2025 Texmaco Rail & Engineering Limited announced that they will report Q2, 2026 results on Nov 11, 2025 Upcoming Dividend • Sep 08
Upcoming dividend of ₹0.75 per share Eligible shareholders must have bought the stock before 15 September 2025. Payment date: 22 October 2025. Payout ratio is a comfortable 12% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (0.9%). Declared Dividend • Aug 23
Dividend increased to ₹0.75 Dividend of ₹0.75 is 50% higher than last year. Ex-date: 15th September 2025 Payment date: 22nd October 2025 Dividend yield will be 0.5%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is covered by earnings (12% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 43% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 14
First quarter 2026 earnings released: EPS: ₹0.75 (vs ₹0.91 in 1Q 2025) First quarter 2026 results: EPS: ₹0.75 (down from ₹0.91 in 1Q 2025). Revenue: ₹9.11b (up 2.1% from 1Q 2025). Net income: ₹299.9m (down 18% from 1Q 2025). Profit margin: 3.3% (down from 4.1% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.8% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 47% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 17
Full year 2025 earnings released: EPS: ₹6.24 (vs ₹3.29 in FY 2024) Full year 2025 results: EPS: ₹6.24 (up from ₹3.29 in FY 2024). Revenue: ₹51.6b (up 47% from FY 2024). Net income: ₹2.49b (up 120% from FY 2024). Profit margin: 4.8% (up from 3.2% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 2 years compared to a 13% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 55% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹155, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 33x in the Machinery industry in India. Total returns to shareholders of 253% over the past three years. Announcement • May 13
Texmaco Rail & Engineering Limited to Report Q4, 2025 Results on May 16, 2025 Texmaco Rail & Engineering Limited announced that they will report Q4, 2025 results on May 16, 2025 Buy Or Sell Opportunity • May 12
Now 27% overvalued Over the last 90 days, the stock has fallen 2.9% to ₹144. The fair value is estimated to be ₹113, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 40% over the last 3 years. Earnings per share has grown by 83%. Revenue is forecast to grow by 1.8% in 2 years. Earnings are forecast to grow by 2.5% in the next 2 years. Buy Or Sell Opportunity • Apr 21
Now 20% overvalued Over the last 90 days, the stock has fallen 25% to ₹143. The fair value is estimated to be ₹119, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 40% over the last 3 years. Earnings per share has grown by 83%. Revenue is forecast to grow by 1.8% in 2 years. Earnings are forecast to grow by 2.5% in the next 2 years. Buy Or Sell Opportunity • Mar 27
Now 21% overvalued Over the last 90 days, the stock has fallen 31% to ₹139. The fair value is estimated to be ₹114, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 40% over the last 3 years. Earnings per share has grown by 83%. Revenue is forecast to grow by 1.8% in 2 years. Earnings are forecast to grow by 2.5% in the next 2 years. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹147, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 32x in the Machinery industry in India. Total returns to shareholders of 236% over the past three years. Announcement • Mar 21
An undisclosed buyer acquired an unknown minority stake in Texmaco Defence Systems Pvt. Ltd from Texmaco Rail & Engineering Limited (NSEI:TEXRAIL) for INR 0.22 million. An undisclosed buyer acquired an unknown minority stake in Texmaco Defence Systems Pvt. Ltd from Texmaco Rail & Engineering Limited (NSEI:TEXRAIL) for INR 0.22 million on March 20, 2025. A cash consideration of INR 0.22 million will be paid by the buyer. As part of consideration, INR 0.22 million is paid towards common equity of Texmaco Defence Systems Pvt. Ltd. Texmaco Rail & Engineering out of its holding in 41,000 Equity Shares of Associate Company Texmaco Defence, has sold 22,000 Equity Shares for a total consideration of INR0.22 million. As a result of this transaction Texmaco Defence has ceased to be an associate of the Company w.e.f. March 20, 2025.
An undisclosed buyer completed the acquisition of an unknown minority stake in Texmaco Defence Systems Pvt. Ltd from Texmaco Rail & Engineering Limited (NSEI:TEXRAIL) on March 20, 2025. New Risk • Mar 17
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: ₹6.3m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Significant insider selling over the past 3 months (₹6.3m sold). Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹160, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 32x in the Machinery industry in India. Total returns to shareholders of 271% over the past three years. Announcement • Feb 06
Texmaco Rail & Engineering Limited Announces Resignation of Shri Hemant Bhuwania as Chief Financial Officer, Effective from 31 March, 2025 Texmaco Rail & Engineering Limited inform that Shri Hemant Bhuwania, Chief Financial Officer of the Company has tendered his resignation from the services of the Company for pursuing new greener pastures. He will be relieved from his duties w.e.f. close of business on 31 March, 2025. Price Target Changed • Feb 04
Price target decreased by 16% to ₹270 Down from ₹323, the current price target is an average from 2 analysts. New target price is 62% above last closing price of ₹166. Stock is down 20% over the past year. The company is forecast to post earnings per share of ₹4.60 for next year compared to ₹3.29 last year. New Risk • Feb 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.7% average weekly change). Reported Earnings • Feb 01
Third quarter 2025 earnings released: EPS: ₹1.92 (vs ₹0.92 in 3Q 2024) Third quarter 2025 results: EPS: ₹1.92 (up from ₹0.92 in 3Q 2024). Revenue: ₹13.3b (up 49% from 3Q 2024). Net income: ₹767.2m (up 152% from 3Q 2024). Profit margin: 5.8% (up from 3.4% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 59% per year, which means it is significantly lagging earnings growth. Announcement • Jan 28
Texmaco Rail & Engineering Limited to Report Q3, 2025 Results on Jan 31, 2025 Texmaco Rail & Engineering Limited announced that they will report Q3, 2025 results on Jan 31, 2025 Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹201, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 36x in the Machinery industry in India. Total returns to shareholders of 434% over the past three years. Recent Insider Transactions • Jan 04
Executive Director recently sold ₹2.0m worth of stock On the 27th of December, Ashok Vijay sold around 10k shares on-market at roughly ₹199 per share. This transaction amounted to 31% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹2.2m. Insiders have been net sellers, collectively disposing of ₹6.3m more than they bought in the last 12 months. Recent Insider Transactions • Jan 01
Executive Director recently sold ₹2.2m worth of stock On the 23rd of December, Ashok Vijay sold around 10k shares on-market at roughly ₹222 per share. This transaction amounted to 19% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹4.3m more than they bought in the last 12 months. Reported Earnings • Oct 26
Second quarter 2025 earnings released: EPS: ₹1.82 (vs ₹0.76 in 2Q 2024) Second quarter 2025 results: EPS: ₹1.82 (up from ₹0.76 in 2Q 2024). Revenue: ₹13.6b (up 69% from 2Q 2024). Net income: ₹728.6m (up 196% from 2Q 2024). Profit margin: 5.3% (up from 3.1% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has increased by 83% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 15
Texmaco Rail & Engineering Limited Announces Resignation of Amitabha Guha as Independent Director Texmaco Rail & Engineering Limited announced that Mr. Amitabha Guha (DIN: 02836707), has resigned as an Independent Director from the Board of the Company effective from 1st October, 2024 in view of his personal reasons. New Risk • Sep 30
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 146% Dividend yield: 0.2% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (146% cash payout ratio). Shareholders have been diluted in the past year (24% increase in shares outstanding). Upcoming Dividend • Sep 13
Upcoming dividend of ₹0.50 per share Eligible shareholders must have bought the stock before 19 September 2024. Payment date: 25 October 2024. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.0%). Lower than average of industry peers (0.7%). Announcement • Sep 05
Texmaco Rail & Engineering Limited (NSEI:TEXRAIL) completed the acquisition of Jindal Rail Infrastructure Limited from JITF Urban Infrastructure Limited and Siddeshwari Tradex Private Limited for INR 6.2 billion. Texmaco Rail & Engineering Limited (NSEI:TEXRAIL) agreed to acquire Jindal Rail Infrastructure Limited from JITF Urban Infrastructure Limited and Siddeshwari Tradex Private Limited for INR 6.2 billion on July 25, 2024. A cash consideration of INR 6.15 billion will be paid by Texmaco Rail & Engineering Limited. As part of consideration, INR 6.15 billion is paid towards common equity of Jindal Rail Infrastructure Limited.
For the period ending March 31, 2024, Jindal Rail Infrastructure Limited reported total revenue of INR 7.48 billion.
The transaction is subject to approval of offer by acquirer board. The deal has been approved by the board.
The expected completion of transaction is on September 20, 2024. EY acted as Financial Advisor and Due Diligence provider to Adventz Finance Private Limited.
Texmaco Rail & Engineering Limited (NSEI:TEXRAIL) completed the acquisition of Jindal Rail Infrastructure Limited from JITF Urban Infrastructure Limited and Siddeshwari Tradex Private Limited on July 25, 2024. Declared Dividend • Aug 30
Dividend increased to ₹0.50 Dividend of ₹0.50 is 233% higher than last year. Ex-date: 19th September 2024 Payment date: 25th October 2024 Dividend yield will be 0.2%, which is lower than the industry average of 0.6%. Sustainability & Growth Dividend is covered by earnings (15% earnings payout ratio) but not covered by cash flows (146% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 98% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 29
Texmaco Rail & Engineering Limited, Annual General Meeting, Sep 25, 2024 Texmaco Rail & Engineering Limited, Annual General Meeting, Sep 25, 2024, at 14:00 Indian Standard Time. Reported Earnings • Aug 15
First quarter 2025 earnings released: EPS: ₹0.91 (vs ₹0.40 in 1Q 2024) First quarter 2025 results: EPS: ₹0.91 (up from ₹0.40 in 1Q 2024). Revenue: ₹8.92b (up 36% from 1Q 2024). Net income: ₹363.4m (up 185% from 1Q 2024). Profit margin: 4.1% (up from 1.9% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has increased by 93% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 07
Texmaco Rail & Engineering Limited to Report Q1, 2025 Results on Aug 13, 2024 Texmaco Rail & Engineering Limited announced that they will report Q1, 2025 results on Aug 13, 2024 Announcement • Jul 25
Texmaco Rail & Engineering Limited (NSEI:TEXRAIL) agreed to acquire Jindal Rail Infrastructure Limited from JITF Urban Infrastructure Limited and Siddeshwari Tradex Private Limited for INR 6.2 billion. Texmaco Rail & Engineering Limited (NSEI:TEXRAIL) agreed to acquire Jindal Rail Infrastructure Limited from JITF Urban Infrastructure Limited and Siddeshwari Tradex Private Limited for INR 6.2 billion on July 25, 2024. A cash consideration of INR 6.15 billion will be paid by Texmaco Rail & Engineering Limited. As part of consideration, INR 6.15 billion is paid towards common equity of Jindal Rail Infrastructure Limited.
For the period ending March 31, 2024, Jindal Rail Infrastructure Limited reported total revenue of INR 7.48 billion.
The transaction is subject to approval of offer by acquirer board. The deal has been approved by the board.
The expected completion of transaction is on September 20, 2024. Buy Or Sell Opportunity • Jul 24
Now 20% undervalued Over the last 90 days, the stock has risen 39% to ₹262. The fair value is estimated to be ₹327, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has grown by 34%. For the next 3 years, revenue is forecast to grow by 14% per annum. Earnings are also forecast to grow by 29% per annum over the same time period. Announcement • Jul 17
Texmaco Rail & Engineering Limited Approves Appointment or Mr. Hemani Bangur as an Independent Director Texmaco Rail & Engineering Limited approved Appointment or Mr. Hemani Bangur (DIN: 00040903) as an Independent Director of the Company. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹209, the stock trades at a trailing P/E ratio of 73.7x. Average trailing P/E is 37x in the Machinery industry in India. Total returns to shareholders of 573% over the past three years. Announcement • Jun 06
Texmaco Rail & Engineering Limited (NSEI:TEXRAIL) agreed to acquire 51% stake in Saira Asia Interiors Private Limited for INR 90 million. Texmaco Rail & Engineering Limited (NSEI:TEXRAIL) agreed to acquire 51% stake in Saira Asia Interiors Private Limited for INR 90 million on June 4, 2024. A cash consideration of INR 90 million will be paid by Texmaco Rail & Engineering Limited. The acquisition is expected to be completed within 90 days. New Risk • Jun 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.7% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.7% average weekly change). Minor Risks Dividend is not well covered by cash flows (146% cash payout ratio). Shareholders have been diluted in the past year (24% increase in shares outstanding). Reported Earnings • May 21
Full year 2024 earnings released: EPS: ₹3.29 (vs ₹0.81 in FY 2023) Full year 2024 results: EPS: ₹3.29 (up from ₹0.81 in FY 2023). Revenue: ₹35.0b (up 56% from FY 2023). Net income: ₹1.13b (up 335% from FY 2023). Profit margin: 3.2% (up from 1.2% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has increased by 90% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 17
Texmaco Rail & Engineering Limited Recommends Dividend for Year Ended 31 March, 2024 The board of directors of Texmaco Rail & Engineering Limited at its meeting held on May 16, 2024, approved recommended dividend of 50 (Fifty) % i.e. INR 0.50/- per fully paid-up Equity Share of INR 1/- each. The Dividend on Equity Shares on approval at the Annual General Meeting will be credited /dispatched to the Members on or before 30 (thirty) days from the date of AGM. Announcement • May 08
Texmaco Rail & Engineering Limited to Report Q4, 2024 Results on May 16, 2024 Texmaco Rail & Engineering Limited announced that they will report Q4, 2024 results on May 16, 2024 Announcement • Apr 10
Texmaco Rail & Engineering Limited Appoints Mr. Udyavar Vittal Kamath as Executive Director Texmaco Rail & Engineering Limited announced that the through postal ballot, approved the appointment of Mr. Udyavar Vittal Kamath as Executive Director of the company. Announcement • Mar 23
Texmaco Rail & Engineering Limited has filed a Follow-on Equity Offering. Texmaco Rail & Engineering Limited has filed a Follow-on Equity Offering.
Security Name: Equity Shares
Security Type: Common Stock
Price(minimum): INR 162.88 Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₹146, the stock trades at a trailing P/E ratio of 64.5x. Average trailing P/E is 32x in the Machinery industry in India. Total returns to shareholders of 442% over the past three years. New Risk • Feb 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.9x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Shareholders have been diluted in the past year (19% increase in shares outstanding). Reported Earnings • Feb 03
Third quarter 2024 earnings released: EPS: ₹0.92 (vs ₹0.40 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.92 (up from ₹0.40 in 3Q 2023). Revenue: ₹9.05b (up 45% from 3Q 2023). Net income: ₹304.9m (up 138% from 3Q 2023). Profit margin: 3.4% (up from 2.0% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has increased by 94% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 21
Texmaco Rail & Engineering Limited to Report Nine Months, 2024 Results on Feb 01, 2024 Texmaco Rail & Engineering Limited announced that they will report nine months, 2024 results on Feb 01, 2024 Announcement • Jan 02
TEXMACO Rail & Engineering Ltd. Appoints Sudipta Mukherjee as Managing Director TEXMACO Rail & Engineering Ltd. has announced the appointment of Sudipta Mukherjee as its new Managing Director. Mukherjee’s appointment is effective from January 1, 2024, who previously served as the Deputy Managing Director in the company. He has played a pivotal role in the company's success and growth through his strategic acumen and dedication. New Risk • Nov 25
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 19% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.7x net interest cover). Minor Risks Share price has been volatile over the past 3 months (8.6% average weekly change). Shareholders have been diluted in the past year (19% increase in shares outstanding). Announcement • Nov 22
Texmaco Rail & Engineering Limited has filed a Follow-on Equity Offering in the amount of INR 5.5 billion. Texmaco Rail & Engineering Limited has filed a Follow-on Equity Offering in the amount of INR 5.5 billion.
Security Name: Equity Shares
Security Type: Common Stock
Securities Offered: 40,470,935
Price(minimum): INR 135.9
Transaction Features: Regulation S; Subsequent Direct Listing Reported Earnings • Oct 15
Second quarter 2024 earnings released: EPS: ₹0.76 (vs ₹0.48 in 2Q 2023) Second quarter 2024 results: EPS: ₹0.76 (up from ₹0.48 in 2Q 2023). Revenue: ₹8.10b (up 67% from 2Q 2023). Net income: ₹246.5m (up 60% from 2Q 2023). Profit margin: 3.0% (down from 3.2% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 76% per year, which means it is significantly lagging earnings growth. Announcement • Oct 08
Texmaco Rail & Engineering Limited to Report Q2, 2024 Results on Oct 14, 2023 Texmaco Rail & Engineering Limited announced that they will report Q2, 2024 results on Oct 14, 2023 Upcoming Dividend • Sep 11
Upcoming dividend of ₹0.15 per share at 0.1% yield Eligible shareholders must have bought the stock before 18 September 2023. Payment date: 25 October 2023. Payout ratio is a comfortable 19% but the company is not cash flow positive. Trailing yield: 0.1%. Lower than top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (0.7%). Announcement • Aug 30
Texmaco Rail & Engineering Limited, Annual General Meeting, Sep 25, 2023 Texmaco Rail & Engineering Limited, Annual General Meeting, Sep 25, 2023, at 13:00 Indian Standard Time. Reported Earnings • Aug 04
First quarter 2024 earnings released: EPS: ₹0.40 (vs ₹0.64 loss in 1Q 2023) First quarter 2024 results: EPS: ₹0.40 (up from ₹0.64 loss in 1Q 2023). Revenue: ₹6.93b (up 132% from 1Q 2023). Net income: ₹127.5m (up ₹333.0m from 1Q 2023). Profit margin: 1.8% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 57% per year, which means it is significantly lagging earnings growth. Announcement • Jul 28
Texmaco Rail & Engineering Limited to Report Q1, 2024 Results on Aug 03, 2023 Texmaco Rail & Engineering Limited announced that they will report Q1, 2024 results on Aug 03, 2023 Announcement • Jun 02
Texmaco Rail & Engineering Limited Announces Change in Directorate Texmaco Rail & Engineering Limited informed that the Board of Directors of the Company has approved the ppointment of Mr. Sudipta Mukherjee (DIN: 06871871) as the Deputy Managing Director of the company for a period of 3 (three) years w.e.f. 1st June, 2023 as per the terms & conditions as ecommended by the Nomination and Remuneration Committee and in accordance with the provisions of the Companies Act, 2013, the Securities and Exchange Board of India Listing Obligations and Disclosure Requirements) Regulations, 2015 & subject to the approval of he shareholders. Mr. Sudipta Mukherjee, 48 years of age, is a qualified Post graduate in Management from Indian Institute of Social Welfare and Business Management (IIS&WBM), University of Calcutta & Fulbright Fellow in leadership and management from Carnegie Mellon University, Pittsbugh, USA. He has obtained Executive Management Certification from Tepper School of Business, USA and has undergone training in Production Management from AOTS, Japan. With around 25 years of varied corporate experience, Mr. Mukherjee effectively handled diverse roles in heading the operations of Rail Freight & Passenger Rolling Stock, Bridges, Special Defence Products, Ship Building Business, etc. Previously, he was associated with Titagarh Rail Systems Limited (formerly Titagarh Wagons Limited) since 1998 and was designated as Whole Time Director in 2014. He has been associated with various Professional Associations including holding positions in various Committees of Industry Association & Chamber of Commerce. Reported Earnings • May 15
Full year 2023 earnings released: EPS: ₹0.81 (vs ₹0.75 in FY 2022) Full year 2023 results: EPS: ₹0.81 (up from ₹0.75 in FY 2022). Revenue: ₹22.7b (up 40% from FY 2022). Net income: ₹260.3m (up 27% from FY 2022). Profit margin: 1.1% (down from 1.3% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Announcement • May 13
Texmaco Rail & Engineering Limited Recommends Dividend for Year Ended 31 March, 2023 Texmaco Rail & Engineering Limited announced that the Board of Directors of the Company at its Meeting held on 12 May, 2023 approved the recommendation of dividend of 15 (Fifteen) % i.e. INR 0.15 per fully paid-up Equity Share of INR 1 each. The Dividend on Equity Shares on approval at the Annual General Meeting will be credited /dispatched to the Members on or before 30 (thirty) days from the date of AGM. Announcement • May 06
Texmaco Rail & Engineering Limited to Report Q4, 2023 Results on May 12, 2023 Texmaco Rail & Engineering Limited announced that they will report Q4, 2023 results on May 12, 2023 Recent Insider Transactions • Mar 29
Board Member recently bought ₹11m worth of stock On the 22nd of March, Akshay Poddar bought around 250k shares on-market at roughly ₹44.31 per share. This transaction increased Akshay's direct individual holding by 17x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₹4.7m more in shares than they have sold in the last 12 months. Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: ₹0.40 (vs ₹0.06 in 3Q 2022) Third quarter 2023 results: EPS: ₹0.40 (up from ₹0.06 in 3Q 2022). Revenue: ₹6.25b (up 33% from 3Q 2022). Net income: ₹128.1m (up ₹111.8m from 3Q 2022). Profit margin: 2.0% (up from 0.3% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Feb 02
Texmaco Rail & Engineering Limited to Report Q3, 2023 Results on Feb 11, 2023 Texmaco Rail & Engineering Limited announced that they will report Q3, 2023 results on Feb 11, 2023 Board Change • Jan 06
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Amitabha Guha was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jan 01
Texmaco Rail & Engineering Limited Appoints Rakesh Tripathi as the Managing Director, Effective January 2, 2023 Texmaco Rail & Engineering Limited announced the appointment of Mr. Rakesh Tripathi as the Managing Director of the Company. Mr. Tripathi, who was to join the Company with effect from January 2, 2023 has expressed his inability to join owing to his personal reasons. Announcement • Nov 15
Texmaco Rail & Engineering Limited Appoints Rakesh Tripathi as the Managing Director of the Company, Will Now Be Joining the Company Effective from 2nd January, 2023 Texmaco Rail & Engineering Limited announced that Mr. Rakesh Tripathi, whose appointment as the Managing Director of the Company was approved, will now be joining the Company effective from 2nd January, 2023 owing to his existing organisation's commitments. Reported Earnings • Nov 09
Second quarter 2023 earnings released: EPS: ₹0.48 (vs ₹0.25 in 2Q 2022) Second quarter 2023 results: EPS: ₹0.48 (up from ₹0.25 in 2Q 2022). Net income: ₹154.4m (up 144% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Nov 02
Texmaco Rail & Engineering Limited to Report Q2, 2023 Results on Nov 07, 2022 Texmaco Rail & Engineering Limited announced that they will report Q2, 2023 results on Nov 07, 2022 Board Change • Oct 31
High number of new directors Independent Director Amitabha Guha was the last director to join the board, commencing their role in 2022. Upcoming Dividend • Sep 15
Upcoming dividend of ₹0.10 per share Eligible shareholders must have bought the stock before 22 September 2022. Payment date: 30 October 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (0.6%). Announcement • Sep 07
Texmaco Rail & Engineering Limited, Annual General Meeting, Sep 30, 2022 Texmaco Rail & Engineering Limited, Annual General Meeting, Sep 30, 2022, at 12:00 Indian Standard Time. Reported Earnings • Aug 17
First quarter 2023 earnings released: ₹0.64 loss per share (vs ₹0.28 profit in 1Q 2022) First quarter 2023 results: ₹0.64 loss per share (down from ₹0.28 profit in 1Q 2022). Revenue: ₹3.03b (down 8.6% from 1Q 2022). Net loss: ₹205.4m (down 390% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 3% per year. Announcement • Aug 13
Texmaco Rail & Engineering Limited Announces Resignation of Mr. Ashish Kumar Gupta as Managing Director, Effective August 31, 2022 Texmaco Rail & Engineering Limited announced that at its board meeting held on August 12, 2022, the board approved the resignation of Mr. Ashish Kumar Gupta, managing director of the company for pursuing new greener pastures with effect from the close of business on August 31, 2022. Announcement • Aug 03
Texmaco Rail & Engineering Limited to Report Q1, 2023 Results on Aug 12, 2022 Texmaco Rail & Engineering Limited announced that they will report Q1, 2023 results on Aug 12, 2022 Reported Earnings • May 22
Full year 2022 earnings released: EPS: ₹0.75 (vs ₹0.62 in FY 2021) Full year 2022 results: EPS: ₹0.75 (up from ₹0.62 in FY 2021). Revenue: ₹16.2b (down 4.0% from FY 2021). Net income: ₹205.0m (up 45% from FY 2021). Profit margin: 1.3% (up from 0.8% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Announcement • May 21
Texmaco Rail & Engineering Limited Recommends Dividend for the Year Ended March 31, 2022 Texmaco Rail & Engineering Limited recommended dividend of INR 0.10 per fully paid equity share of INR 1.00 each. The dividend on Equity Shares on approval at the Annual General Meeting is expected to be credited/dispatched to the Members on or before 30 days from the date of AGM. Announcement • May 08
Texmaco Rail & Engineering Limited to Report Q4, 2022 Results on May 20, 2022 Texmaco Rail & Engineering Limited announced that they will report Q4, 2022 results on May 20, 2022 Board Change • Apr 27
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Additional Independent Director Partha Bhattacharyya was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improved over the past week After last week's 20% share price gain to ₹52.75, the stock trades at a trailing P/E ratio of 47.9x. Average trailing P/E is 25x in the Machinery industry in India. Total loss to shareholders of 15% over the past three years. Recent Insider Transactions • Apr 02
Board Member recently sold ₹6.1m worth of stock On the 29th of March, Udyavar Kamath sold around 137k shares on-market at roughly ₹44.16 per share. In the last 3 months, they made an even bigger sale worth ₹14m. Insiders have been net sellers, collectively disposing of ₹65m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment improved over the past week After last week's 17% share price gain to ₹43.85, the stock trades at a trailing P/E ratio of 39.8x. Average trailing P/E is 24x in the Machinery industry in India. Total loss to shareholders of 30% over the past three years. Recent Insider Transactions • Feb 16
Board Member recently sold ₹14m worth of stock On the 11th of February, Udyavar Kamath sold around 333k shares on-market at roughly ₹43.45 per share. In the last 3 months, they made an even bigger sale worth ₹43m. Insiders have been net sellers, collectively disposing of ₹59m more than they bought in the last 12 months. Reported Earnings • Feb 09
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹0.06 (down from ₹0.85 in 3Q 2021). Revenue: ₹4.70b (up 2.7% from 3Q 2021). Net income: ₹16.3m (down 91% from 3Q 2021). Profit margin: 0.3% (down from 4.2% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Feb 08
Texmaco Rail & Engineering Limited Announces Resignation of Amal Chandra Chakrabortti as Independent Director Texmaco Rail & Engineering Limited announced the resignation of Mr. Amal Chandra Chakrabortti Independent Director from the Board in view of his advancing age effective from close of business on 7th February 2022. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improved over the past week After last week's 16% share price gain to ₹44.60, the stock trades at a trailing P/E ratio of 27.1x. Average trailing P/E is 26x in the Machinery industry in India. Total loss to shareholders of 15% over the past three years. Valuation Update With 7 Day Price Move • Dec 31
Investor sentiment improved over the past week After last week's 15% share price gain to ₹33.35, the stock trades at a trailing P/E ratio of 20.3x. Average trailing P/E is 24x in the Machinery industry in India. Total loss to shareholders of 35% over the past three years. Recent Insider Transactions • Nov 23
Board Member recently sold ₹43m worth of stock On the 19th of November, Udyavar Kamath sold around 2m shares on-market at roughly ₹17.52 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹44m more than they bought in the last 12 months. Announcement • May 16
Texmaco Rail & Engineering Limited Recommends Dividend for the Year Ended March 31, 2021 Texmaco Rail & Engineering Limited recommends dividend of INR 0.10 per fully paid equity share of INR 1.00 each. The dividend on Equity Shares on approval at the Annual General Meeting is expected to be credited/dispatched to the Members around first week of October 2021. 
