Texmaco Infrastructure & Holdings Ltd Share Price Realty
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Texmaco Ltd is a leading diversified Engineering Complex and an Infrastructure Company in India. The company is the leader in the fields of Railway Freight Cars/Wagons, Hydro-Mechanical Equipment for Mega Power Projects, Heavy Steel Structures and Process Equipment. The company has 5 factories on the northern fringe of Kolkata. Their factories are located at Belgharia, Agarpara, Sodepur and Panihati in West Bengal. The company operates in three business segments, namely heavy engineering division, steel foundry division and others. The company's product portfolio includes railway freight cars, steel foundry, hydro-mechanical equipment and steel structures, process equipment and agro machinery. Texmaco Ltd, a KK Birla Group company was incorporated on August 4, 1939. The company was incorporated with the main objective of manufacturing large variety of items. Over the decades, the company has emerged as a leading engineering complex in India. In the year 1963, the company entered into a collaboration agreement with Zinser Textilemaschinen of West Germany for the manufacture of high quality ring frames. In the year 1972, the Government approved the company's proposal for foreign collaboration with H W Ward & Co for the manufacture of 2-Ds capstan lathe. In the year 1979, the company acquired fixed assets of the factory owned by Modern India Construction Co Ltd and renamed it as Sodepur Works. In the year 1981, they acquired the units owned by The Birla Cotton Spg & Wvg Mills Ltd comprising of a composite textile mill at Delhi, a textile spinning mill at Kathua (J & K), four ginning factories and oil mills situated in the State of Punjab, Rajasthan and Haryana and dairy at Sahadra Delhi. The mill at Delhi was renamed as Birla Textiles. In April 1982, the company acquired their first ship at a price of 12.6 million USD. In the year 1983, they made a technical collaboration with Howa Machinery Ltd, Japan for the manufacture of their latest high production cards. Also, they entered into a technical collaboration agreement with Toyoda Automatic Loom Works Ltd, Japan for the manufacture of their latest model of long length ring frame. In March 1983, they acquired the fixed assets of the Panihati works of Oriental Machinery & Civil Construction Ltd. In the year 1984, the company formed a joint venture company under the name Texpro Construction Co Ltd in collaboration with the Protaxa Group of Mexico for onshore construction activities like pipe laying etc. In the year 1985, they started manufacturing of diesel forklift trucks in technical collaboration with Lansing Ltd, UK. In the year 1989, they entered into a technical collaboration agreement with Salzgitter Maschinenbau GmbH, West Germany for the manufacture of sugar centrifugals. In the year 1992, the company entered into a working arrangement with Zuari Agro Chemicals Ltd. for running the cement factory at Yerranguntla. In the year 1994, they transferred their cement division to the Zuari Agro Chemical division. During the year 2001-02, the company entered a joint venture agreement with Hanuuman Tea Co Ltd, Kolkata for 2.40 MW Hydroelectric Project on river Neora, Darjeeling. During the year 2003-04, the company received an order for 450 VUs High Speed Low Platform Bogie Container Flat Wagons from Container Corporation of India Ltd. Also, they secured an order for rehabilitation of 120 Nos BRN (Flat) Wagons from the South Eastern Railway. During the year, the foundry division entered into a prestigious Licensing Agreement with world-renowned ASF Keystone of USA for the manufacture of Amsted Design Ride /control Bogies. During the year 2004-05, the process equipment division commissioned a Boiler at 67 kg/sq cm g pressure and booked orders for Boilers upto 90T/hr capacity besides complete Sugar Mining Plants with 5000 TCD capacity. During the year 2006-07, the company completed the prestigious contracts for Hydro-mechanical Equipment executed by the company for 900 MW Purulia Pumped Storage project if WBSEB in West Bengal and 1020 MW Tala H E Project in Bhutan. They commenced their commercial production in the new state-of-art foundry, which is equipped with highly sophisticated, fully automatic sand plant and moulding line, sourced from the world renewed Kunkel Wagner of Germany. In June 2006, the company's 3 MW Mini Hydel Power Project on river Neora in Darjeeling in the Joint Venture 'Neora Hydro Ltd' was commissioned. In November 24, 2006, the company signed the power purchase agreement with WBSEB which will be operative for 10 years. During the year 2007-08, the company delivered 325 numbers Stainless Steel BOXNLW wagon to Indian Railways. Also, they delivered a series of Container Freight Rakes as also wagons for bulk transportation of alumina, food grains, caustic soda, etc to private parties. The company completed and commissioned the 510 MW Teesta Stage-VHE Project in Sikkim during the year. During the year, the Hydro Mechanical Equipment & Structurals division bagged an order valued approx Rs 42 crore for Loharinag Pala HE Project (600 MW) of NTPC in Uttarakhand. The company's JV for 3 MW Mini-Hydel Power Project on river Neora in Darjeeling was merged with company with effect from August 1, 2007. Also, Shree Export House Ltd, the wholly owned subsidiary company and Evershine Merchants Pvt Ltd, owning property in Gurgaon were merged with the company with effect from August 1, 2007. The work on Sewa Stage-II H E Project (120 MW), J & K, is nearing completion, while that on Teesta Low Dam H E Project (132 MW), West Bengal, is progressing satisfactorily. The company is actively working on expansion of the new foundry and has also undertaken modernization-cum-expansion of the old foundry, which is expected to be completed during the financial year 2009-10. In May 2009, the company received an order for 2068 wagons valuing Rs 380 crore from Indian Railways.