According to latest reports, Texmaco Rail has secured a $135 million diesel-electric locomotive export order from two foreign entities based in South Africa. The company announced on Tuesday, September 1, 2026, that Tsiko Africa Logistics with Barberry Holdings has issued the letter of award for the supply of Wabtec ES43ACi – 4,500 horsepower diesel-electric locomotives. As per the scope of the order, Texmaco Rail will be responsible for the design, manufacture, supply and commission of these locomotives. The deal is exclusive of applicable taxes and duties, with execution estimated within 20 to 24 months from the signing of the definitive agreement.
According to reports from CNBC TV18, Texmaco Rail & Engineering has signed a memorandum of understanding with Germany's Bochumer Verein Verkehrstechnik GmbH (BVV) to explore a joint venture in India for railway wheels, wheelsets, axles and related components. The proposed partnership will evaluate opportunities to manufacture and supply these products to Indian Railways as well as customers in the global railway industry. The agreement was executed on August 27, 2026, establishing a framework for collaboration between the two companies.
As reported by CNBC TV18, under the proposed arrangement, BVV is expected to provide or license technology, technical know-how, manufacturing processes and engineering expertise to the venture. Meanwhile, Texmaco is expected to handle or support localisation, manufacturing, assembly, testing and quality assurance in India, along with marketing, supply and after-sales support. The companies are considering setting up a joint venture or special-purpose vehicle in India to pursue this opportunity.
According to the latest financial results reported by Business Standard, Texmaco Rail reported its first quarter earnings last month, with consolidated net profit increasing 70.57% year-on-year to ₹50.03 crore from ₹29.33 crore in the corresponding quarter last year. However, revenue from operations declined 16.90% YoY to ₹756.68 crore in the quarter ended June 30, 2026. The company's EBITDA declined 19.6% to ₹57 crore from ₹71 crore in the first quarter last year, with margins remaining flat at 8% compared to the year-ago period.
According to latest market data, Texmaco Rail shares surged 3.67% to ₹112.90 following the announcement of the major export contract. The stock has since cooled off from the initial spike, currently trading 3.3% higher at ₹112.5. The company's stock has delivered more than 277% returns to investors in the last five years, though it has lost 18% so far this year. The company's market capitalisation stood at ₹4,588 crore as of Tuesday's trading session. Texmaco Rail & Engineering is part of the Adventz Group and operates in railway and infrastructure businesses through its Freight Cars, Rail Infrastructure & Green Energy, and Infrastructure-Electrical segments.
