Mumbai, June 26 -- Texmaco Rail & Engineering (TEXMACO) received a letter of intent worth Rs 2,532.8 million (mn) from JSW (South) Rail Logistics for the manufacture and supply of BFNSM1 rakes along with BVCM wagons. The domestic order is scheduled for execution within 13.5 months from the effective date of commencement of work. The company stated that neither its promoter nor the promoter group nor group companies have any interest in the awarding entity and that the contract does not qualify as a related party transaction.
TEXMACO is a listed company and part of the Adventz Group and is a key participant in the railway and infrastructure sector. The company operates across three business segments: Freight Cars, Rail Infrastructure, Green Energy, and Electrical Infrastructure. Its operations span manufacturing and services linked to rail freight and infrastructure.
In its financials, the company reported a 45.03 per cent year-on-year increase in consolidated net profit to Rs 576.8 million (mn) in the fourth quarter of FY26, compared with Rs 397.7 million (mn) in the corresponding quarter last year. The market responded modestly, and the counter rose 0.09 per cent to settle at Rs 109.45 on Friday, 19 June 2026. The firm indicated that the order will be executed within the stipulated timeframe.
The LoI strengthens TEXMACO's order book and is consistent with its focus on freight car manufacturing and rail infrastructure projects. Delivery of the BFNSM1 rakes and BVCM wagons within the contracted period is expected to support operational continuity and manufacturing throughput. The company will proceed with detailed project planning and execution following the formalisation of the contract. The award will enhance the firm's production schedules and contribute to steady revenue recognition as manufacturing phases progress.
Published by HT Digital Content Services with permission from Construction World.