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CARE reaffirms ratings of Texmaco Rail & Engineering’s bank facilities

05 Mar 2015 Evaluate

Credit rating agency, CARE has reaffirmed ‘AA-’ rating to Texmaco Rail & Engineering’s long term bank facilities worth Rs 95.00 crore and ‘A1+’ rating to company’s Short term Bank Facilities worth Rs 1145 crore.

The ratings continue to draw strength from the experience of the promoters, long and satisfactory track record, leadership position of the company in the domestic wagon segment, creation of operational synergy through proposed merger of the company with Kalindee Rail Nirman (Engineers) (KRNL), healthy order book position, comfortable financial profile marked by satisfactory debt coverage indicators along with infusion of equity through Qualified Institutional Placement (QIP) leading to accumulation of liquid investments, joint ventures with leading technology and engineering and leasing companies, scheduled completion of projects and rising demand for commodity specific wagons among private players.

Texmaco Rail & Engineering is one of India’s leading freight car manufacturers and diversified engineering company. The company is the largest supplier of wagons to the Indian Railways in India with strong in-house capabilities for the design and manufacture of special purpose wagons.

Texmaco Rail & Eng. Share Price

106.04 2.44 (2.36%)
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