RITES bags $18 million international order from South Africa?s Talis Logistics

In a regulatory filing, the company announced that it has received a letter of award for the supply and commissioning of overhauled in-service Cape Gauge ALCO Diesel Electric Locomotives. The contract entails delivering refurbished locomotives tailored to Cape Gauge standards, widely used in Southern Africa?s railway infrastructure.

The order has been classified as an international contract, and RITES is expected to execute the delivery within 6 to 8 months from the receipt of the advance payment.

?This international order underlines RITES? growing presence in global markets and its capability to deliver customized rail solutions,? the company said in a statement.

RITES confirmed that the transaction does not involve any related parties, and neither the promoter nor the promoter group has any interest in Talis Logistics. The contract is being executed on a CIF (Cost, Insurance, and Freight) basis, with delivery to be completed at the client?s port in South Africa.

The deal is expected to further strengthen RITES? export portfolio, particularly in African markets, where there is growing demand for rail infrastructure upgrades and rehabilitation of existing rolling stock.

Rites is a public sector enterprise and a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. The company is the only export arm of Indian Railways for providing rolling stock overseas (other than Thailand, Malaysia and Indonesia).

The company?s consolidated net profit rose 1.4% to Rs 80.10 crore on 0.8% rise in revenue from operations to Rs 489.74 crore in Q1 FY26 over Q1 FY25.

Shares of Rites fell 2.17% to end at Rs 252.50 on the BSE.

Powered by Capital Market - Live News